Top three Saving Accounts to consider

I have to say that I have been viewing bank accounts of other banks and the three that I have posted earlier is still arguably the ones to consider seriously.

CIMB StarSaver Account http://depositssg.blogspot.com/2011/12/cimb-starsaver-account.html

This is a great account if you intend to have a savings plans with an option to withdraw anytime you want without penalty. This is excluding those offered by insurance companies.

Phillips Money Market Fund http://depositssg.blogspot.com/2011/12/my-top-pick-phillips-cash-management.html
This is another great account if you have money and you need to park somewhere because you won't use it in the near future. You will need a Phillips Cash Management Account (Actually I wonder why other brokerage does not have this function)

Standard Chartered Bank XtraSavers Account http://depositssg.blogspot.com/2011/12/personal-banking-deposits-xtrasaver.html
This account is not attractive based on their interest rates. Rather it is attractive because of the rebates it comes with if you are using its debit Mastercard. The amount of cash rebates you receive can easily match the interest rates that banks offers (including PMMF and CIMB StarSaver account).
Having said that, I think if you have enough credit cards (with a management system to manage them), it is not required.

I intend to use CIMB StarSaver account to kickstart the accumulation of my cash reserves i.e. saving for a rainy day or emergency use once my HSBC fixed deposit matures.

This post will stay on top while I try to find other products. Offers are mostly fixed deposits which I now does not favour due to liquidity issues.

CIMB StarSaver Account

http://www.cimbbank.com.sg/index.php?ch=sg_per_st&pg=sg_per_st_cur&ac=12&tpt=cimb_sg#

This is an account which one can consider because it offers 0.8% interest if you deposit $500 monthly. Moreover, it has no fall-below fee, making it very attractive. The only drawback (and I think it is very important) is the number of ATMs they have in Singapore. They are not in the ATM5 network which makes it hard to withdraw cash. However, they do give chequebooks, so just write a cheque to yourself and deposit in any bank account. 

Placing some reserve cash in the account seems quite fine provided you have some funds in local banks which you have immediate access to.