NOW that all Singapore bank deposits are guaranteed, savers are wondering whether to put their cash in high-interest-earning accounts in those banks that some had felt were not as safe as others.
Marketing executive Jay Tai, 38, is eyeing RHB Bank's 1.78 per cent promotional rate on a $50,000 fixed deposit.
This is almost twice the 0.925 per cent rate offered by DBS Bank, United Overseas Bank and OCBC Bank - the three banks in which he had stowed all his savings a few weeks ago.
Asian banks: Sound but weak links exist
The impending economic slowdown and market turbulence are more of a risk
By Grace Ng
AMID the fury of the global financial crisis, there is good news and bad news for Asia's banks.
While banks around the region look relatively strong compared to their peers in the United States and Europe, weak links still exist in markets such as South Korea and Vietnam, say analysts.
Having cleaned up their balance sheets after the Asian financial crisis a decade ago, most Asian banks are entering the current credit crisis with relatively strong capital bases to weather the turbulence.
