Students - How to grow your savings?

Lately, I have been having some discussion with my friends on what are some of the best ways to park our money at.

This is especially given that we're at times of high inflation, and we ideally want to place our excess funds using certain financial instruments, rather than leaving it at the bank.

If you're looking for low-risk investments, here are some instruments to consider.

1. Syfe Cash+ Guaranteed: As the name suggests, it offers a 3.7% to 3.8% guaranteed returns, with the caveat that it has a lock up period of 3/6/12 months.

2. Digital banks such as MariBank, GXS or TrustBank. With a small amount of intial deposits (i.e. as low as $100), you can receive up to 2.88% on your deposits, and interest are accrued daily! These banks are also SIPC protected, ans returns are guaranteed.

Additionally, MariBank also offers their own funds which offers higher yield, in which they invested in bonds. Note that returns from these funds are not guaranteed.

3. MooMoo's Fullerton SGD Cash fund: an alternative consideration. This fund offers a current yield of 3.7%, and the fund mostly invest in banks of very high credit ratings, which makes it really safe. This also means that the probability of banks defaulting is really low.

I hope these recommendations did help you get started on your journey. Do note that these recos are specifically targeted towards students (or even adults) who are looking at capital preservation + low risk investments, and these are not financial advice, but personal opinion of mine.

If you have any questions, feel free to let me know! :) have a great weekend everybody.