The Synchrony Bank Sams Club is an ideal way for you to manage your money if you are a non-Singaporean. The members of the club have the opportunity to earn interest on their accounts in a range of financial institutions in Singapore like the SMllers, Commercial Bank, First Reserve, Bajan International, and more. The amount that can be earned by the account holder varies from one bank to another. The account holder will get a certain percentage for his deposit to the bank, and the interest rate for his savings account or the money market accounts that he can opt for. The following are the details of the perks that you can avail when you open an account with Synchrony Bank:
o Mutual funds. If you wish to open an account at Synchrony Bank with the intention to save up money for the future, you have two options to do so. You can open an Account of Funds with the banks that offer the lowest interest and this is a common option that most people follow. If you wish to earn interest on the amount of interest that you save, you have the choice to open an Account of the Principal where you will not have to make any deposits.
o Discount cards. Accounts can also be opened for discount on goods and services. An Account of Discount offers a minimum amount of cash in your account depending on the purchase. You will then be billed monthly for the amount that you have spent. This kind of discount account is best for persons who are looking for ways to save money. Aside from getting interest, you will also get flexible spending capabilities.
o Open an Account of Securities. If you wish to save up interest on the amount of money that you invest in stocks and shares, you have a choice to do so with Accounts of Securities. With an account of securities, you will be able to earn interest on the securities and you do not have to pay any charges until you sell them. With this, it is important that you open accounts that are closely related to your investments so that you will get the best rates. Make sure to learn about the different terms and policies of the banks so that you can be familiar with them.
o Transfer accounts. Aside from Account of Principal, there are also Transfer accounts offered by the bank. You can opt to transfer your funds to other banks if you prefer. However, you need to comply with their terms and conditions. In most cases, you will need to pay an administration fee each time that you wish to transfer.
o Other services. The bank can also offer different kinds of other services such as online banking and the ability to keep a history of your transactions. They can also give you a guide on how you can manage your money well. With these things, you can be assured that you will get all the help that you need. Aside from these, they also provide different loan products for you to choose from.
o Investing options. If you want to invest, you have to find the right bank that can let you earn interest. In this case, the bank will give you advice on the best investment options that you can make. Some of the things that you can choose from our CD's, savings accounts, and mortgage refinancing. These are the common investment options but the bank can actually suggest other investment options that you can use.
Overall, the bank is very convenient. You do not need to go out of your house just to open an account because they have it all under one roof. It only takes minutes to open an account and you can start earning. There are other things that you can enjoy when you use their services aside from opening an account. Check them out today so that you can get all the information that you need.