Updates to your GXS Savings Account

GXS Bank, a burgeoning digital banking entity, continues to refine its array of products and services to better serve its clientele. These refinements are shaped by customer feedback and usage patterns, reflecting GXS Bank’s commitment to aligning with evolving needs.

A prevalent trend observed among users is the multifaceted application of the GXS Savings Account. Beyond its conventional role as a savings repository, many customers employ it for transactions within Grab and Singtel Dash apps, reaping the benefits of 1.2 times the standard reward points*.

In a move to optimize financial resources, GXS Bank announces modifications to the interest rates within the GXS Savings Account, set to take effect on August 17, 2023:

  1. Main Account Interest Rate Adjustment:
    • The prevailing 0.08% p.a. interest rate for funds in the Main Account will be adjusted significantly to 2.38% p.a.
  2. Saving Pocket(s) Interest Rate Adjustment:
    • Funds held within designated Saving Pocket(s) will experience a decrease from the existing 3.48% p.a. to 2.68% p.a.

It’s important to note that apart from these interest rate adjustments, no other alterations are anticipated for the GXS Savings Account.

Effective August 17, 2023, the interest rates are set to align as follows:

  1. Main Account:
    • Funds deposited in the Main Account will earn an attractive 2.38% p.a. interest, with daily crediting.
  2. Saving Pockets:
    • Funds allocated to Saving Pockets will yield an appealing 2.68% p.a. interest, also credited daily.

Importantly, all deposits within the GXS Savings Account remain safeguarded by the Singapore Deposit Insurance Corporation (SDIC), providing coverage of up to S$75,000 per account.

To reiterate the features of the GXS Savings Account:

For Spending:

  • Users can enjoy rewards through a 1.2X Grab/Dash reward points boost for eligible transactions using the linked GXS Savings Account’s Main Account via Grab and Singtel Dash apps. Additionally, the Main Account funds will accrue interest at a rate of 2.38% p.a., credited daily.

For Saving:

  • Customers can strategically save by creating dedicated Saving Pocket(s) for distinct financial objectives. Funds within these pockets will generate interest at a competitive rate of 2.68% p.a., credited daily.

GXS Bank is dedicated to elevating the banking experience and expresses gratitude to its valued patrons for their choice in harnessing GXS Bank’s innovative solutions to meet their financial aspirations.

*Subject to terms and conditions.

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