Starting from today, interest rates for banks have slashed by half to a mere 0.125% per annum. That means for every $100 you have in your bank, you only receive interest rates in the form of $1.25. Cut by half, yes, across all banks, even the POSB ones that we signed up for when we were 5. Given the bad bad crisis and all the ooh-hahs about banks, it’s better to just keep your money at home, under your bed or in your biscuit tins, safer. Just kidding about keeping your money at home, 0% interest rate totally haha.