Saturday, 4 May 2013

Safer and Cheaper in Singapore

For those of us who have money in a bank it is always somewhat reassuring to find that the bank that you trust, is not likely to fall over any time soon.

Good news then for Singaporeans as OCBC has retained its title as the world’s strongest bank for the second year in Bloomberg's latest research.

United Overseas Bank Ltd. (UOB) comes in number seven and DBS at number eight thanks in a large part to the steady Singapore economy and an aversion to risk.  Mind you, the interest deposit rates for term investments in the Republic are fairly minuscule when compared to other countries, but you can't have it both ways.

Not only are the banks more secure but the cost of living, based on a global index of recognisable US consumables, shows that Singapore is much cheaper to live in than say Australia, the USA or the UK.

Hong Kong has greater purchasing power parity than Singapore.  Mouse over the charts to see the figures.

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