Is the Chungwa Post Office the only place where someone can open a savings account? If not, is there any other place where I could find a better rate?
I keep a minimum 70K stash in Taiwan in case of an emergency. I would like to make interest on this.
Thanks!
Post Office is pretty good, really. I can’t find rates for general accounts much better than that.
The most recent rates were about 2.5% fixed rate at the Post Office or about NT$1750 p.a.
Rates, though, are dropping as the CBT cuts rates…
Woops… Rates are dropping f-a-s-t…
Nov.3rd
Chunghwa post announced that annual interest rates of various postal saving accounts will be adjusted as from Nov.4, 2008.
Time deposit rates:
Time category Fixed Floating
1 month 1.900% 1.940%
3 months 1.980% 2.020%
6 months 2.080% 2.120%
9 months 2.140% 2.160%
1 year 2.390% 2.400%
2 years 2.450% 2.475%
3 years 2.450% 2.475%