Definitely! The funds in your GXS Savings Account will continue to earn interest even after you’ve hit the maximum deposit cap of S$75,000.
For example, based on an interest rate of 2.68% per annum for your Saving Pockets:
- On 17 August 2023, your balance in your Saving Pocket(s) is S$75,000 at the end of the day. You will earn an interest of S$5.50 and it will be credited to your account on 18 August 2023.
- On 18 August 2023, your account balance is S$75,005.50. You will continue to earn interest based on this amount at the end of the day.
For your information, your deposits with GXS are aggregated and insured up to S$75,000 by the Singapore Deposit Insurance Corporation (SDIC).