Banks say they are launching these promotions partly to reward their customers, and partly to encourage the habit of thrift in a low interest rate environment.“Recognising that the interest rate environment offers low returns, we offer promotions from time to time to motivate customers to save,” said Ms Chng Bee Leng, OCBC's head of deposits.
Ms Helen Neo, head of consumer banking at Maybank Singapore, said its incremental interest rate is essentially a reward for the above-50 market segment. Full Story
