In the email statement, GXS says: “To make your money work just as hard for you, whether they are tucked in Saving Pockets for your saving goals or in the main account for your spending needs, we will be revising our interest rates for your GXS savings account.”
The Grab- and SingTel-backed digital bank GXS will be reducing its interest rates for its savings account from 3.48% per annum (p.a.) to 2.68% p.a., just over two weeks after they announced the increase in deposit limit on savings accounts from $5,000 to $75,000. This will come into effect on Aug 17.
Users who had signed up with the digital bank were informed via email on Aug 7, which also highlighted a revision in interest rates on GXS's main savings account from 0.08% p.a. to 2.38% p.a.
