Interest rates are subject to periodic review and may be revised at bank's discretion

Citibank Singapore
No, you shouldn't be looking at the 2%p.a.*. The most important statement on Citibank's Step-Up Interest Account is what sgCR has reproduced above, in the title...The sentence (Interest rates are subject to periodic review and may be revised at bank's discretion) means that Citibank can change the interest rate of this savings/checking account.