ANZ has introduced a new savings package that targets the growing affluent market in Singapore.

The new product, ANZ Savings Plus, offers Singapore-based clients an Australian dollar savings account with attractive interest rates and other rewards, the firm said in a statement. Among its features are interest rates ranging up to 3.5 per cent per annum, an international ATM card, an option to open an Australia-based account for those emigrating to the country, as well as remittances and travel insurance.

"ANZ Savings Plus is perfect for customers with strong links to Australia, such as those who travel frequently to Australia for business, have children studying there, or are Australian expatriates based in Singapore. It’s also a good alternative option for customers who want to diversify their savings into different currencies," said Ajay Mathur, the firm's general manager for retail banking and wealth management for South and Southeast Asia.

The new offer is part of ANZ's strategy to attract affluent clients in Singapore, particularly after the launch of its Signature Priority Banking service. According to the latest Capgemini and Merrill Lynch Asia Pacific Wealth Report, the number of high net worth individuals in Singapore went up by 32.7 per cent to 81,600 compared to 2009, with a total wealth reaching $369 billion.