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Revision of Interest Rate for FCY$aver – Renminbi (CNH)

Revision of interest rate for FCY$aver – Renminbi (CNH)

Please be informed that the interest rate for FCY$aver – Renminbi (CNH) will be revised as follows with effect from 1 February 2015:

Balance Tier (CNH) Current interest rate Revised interest rate
Less than 25,000 0.2% p.a. 0.3% p.a.
$25,000 to less than 1,000,000 0.2% p.a. 1.4% p.a.
$1,000,000 & above 0.2% p.a. 1.7% p.a.

Revision of Overseas Bank Charges

Please be informed that the overseas bank charges for Outward Telegraphic Transfer (OTT) will be revised as follows, effective 25 November 2013

Debiting account currency Current Charge New Charge
Singapore Dollar SGD 50 SGD 50 (no change)
Foreign currencies USD 28 SGD 50
(amount will be charged in the respective currency based on the bank’s exchange rate)

The charges for handling commission, commission in lieu and reimbursement cover remain unchanged.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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