Briefs: GXS raises deposit limit to $75,000; EY cautions on valuations ahead of Sabana's EGM; Sg politicians resign

Quoteworthy: "Singapore is very fortunate to have two of the best people I know running for President." –— says hedge fund billionaire Ray Dalio, as former CIO of GIC Ng Kok Song plans to run for president alongside Tharman Shanmugaratnam

GXS raises deposit limit to $75,000, savings accounts now open to public

The Grab- and SingTel-backed digital bank GXS has raised the deposit limit on its savings accounts from $5,000 to $75,000, signalling that the Monetary Authority of Singapore (MAS) has raised the deposit cap on Singapore’s digital full banks (DFBs).

GXS’s higher deposit limit is effective from July 19, and users who move their funds into the digital bank’s savings pockets can earn interest of 3.48% per annum.

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