Shopping for attractive bank rates

I woke up at 5am today for toilet break and i didnt go back to sleep simply because i had more than 12 hours of rest on friday.

I spent about 2 hours on the net, browsing through UOB, Citibank and DBS's webpages.

Citibank has this very interesting deal on "STEP UP interest" salary account. The interest rate starts from 0.68% P.A and it can go all the way up to 2% provided your available balance increases every month, otherwise, it will drop back to 0.68%.
- It seems that no matter what, I will be enjoying a higher interest rate than my current UOB CAMPUS account which only offers 0.35% P.A.

POSB has this very good forced savings scheme. All you need to do is to set the bank to auto credit a fixed amount to this savings accounts. Should you credit $300 - $790 a month, you get a very attractive interest rate of 1.0% P.A. I have a problem here though, that is, I have already closed my POSB account, so if i want to take this up, I have to open a DBS or POSB account. I am currently using my UOB campus and I do not want to switch back to POSB.
- This is good for students also, not just working adults.
- It allows seperation of savings from normal banking accounts. I like this because it is easier to track savings this way.


UOB has its own flexi deposit that works something like the POSB one, the thing is, their interest rate is not as attractive as the above 2 banks.

Conclusion:
I should open a step up interest salary account with citibank so that I enjoy a higher interest rate on my basic account because no matter what, i get an interest of 0.68% PA. I should perhaps credit $300 to mummy and have her open the forced savings account so that I get to enjoy 1% interest rate. However, If I need to withdraw this $$, I have to go through her. Hmm.... This will really make this scheme a "FORCED SAVINGS".

I wanna get out of debt in 3 years' time. Right now, I will not take on any debt, or any installment payments. I am going to focus on paying my uni tuition fee loan. On top of that, it is important that I have some savings, no matter how small the amount.

It's 7:15am now. I better get back to rest.