It'll be one of the choices on hand as an alternative to current bank account / fd ones. For me I'll start with singlife first for the 2% then layer into other cash management platforms. Singlife's application process may take some time though; still pending for approval after a couple of weeks.

Yes definitely better than banks

Hello there! Do have a go at Singlife ! There's a minimum account value of $100 and receive up to 2% interest per annum for your first $10k deposited. For withdrawals in cash, Singlife's Fast and Secure Transfer ('FAST') allows you to transfer funds from your Singlife account to your personal bank account almost instantly. Singlife also offers a debit card option that incurs zero financial fees and annual fees. There are insurance benefits as well! Do check out Singlife's website for more info: https://singlife.com/manage/ All the best for your studies!

Have been using Singlife ever since jumpstart cut interest rates to 1% in July. Doesn’t hurt to transfer from one account to the other since it only takes a few mins to sign up, transfer money to singlife and back. So I would just open an account in singlife.

There is no information announced by Standard Chartered yet. However, it could be possible that they would decrease their credit card cashback rate. Be that as it may, you may opt to use CIMB credit card as well with 1% with no min. spend for their AWSM card :)

The answers for such financial questions are always, it depends. Now that the rate will drop to 0.4% by 1 Jan 2021 , some may no longer consider "parking" their money there to gain interest. My suggestion for you would be to answer the following questions to help guide your decision: 1. Do you have an alternative account currently offering a better interest rate , for example, SingLife or maybe even DBS multiplier account? 2. What is your age ? (To reopen the account, in the event where the interest rate may go up again, you must be between the age of 18 to 26) 3. Is there any benefit you gain from closing the account? (Reminder: The JumpStart account has NO minimum deposit requirement and there is NO fall-below fee .) Personal Opinion: Take all your money out, leave the bank account balance as $0, put back the money if the interest rate increases back to a rate you are happy with. Best of luck to you bro/sis :D

Will check it out,tks for sharing

Hi Anon! I'm a Uni student as well and it can get quite upsetting whenever I see my account balance drop, but then again as a #brokeunistudent it is quite understandable especially if you're not working. I always try to be mindful about my spending but some months may be tougher than others! I've started investing earlier this year with a robo-advisor, this can be something you can look into to grow your savings whilst you are still schooling and you can decide how much you want to set aside for investing purpose. You can read up more about robo-advisors and investing with the following links: https://blog.seedly.sg/singapore-robo-advisor-investment-comparison/ https://blog.seedly.sg/ultimate-personal-finance-guide-to-investing-singapore/ Hope this helps! :)

Into bonds, insurance savings plan, endowment or equities. Depends on your risk appetite other wise hold as cash