facebookFor emergency funds, what would be the best savings accounts to keep them in? is it enough if I put this in a DBS multiplier account? - Seedly

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Anonymous

20 Apr 2020

āˆ™

Saving Hacks

For emergency funds, what would be the best savings accounts to keep them in? is it enough if I put this in a DBS multiplier account?

What is the best way to make sure it is kept separate and safe and giving some kind of minimal return?

Discussion (5)

Andy Sim

09 Mar 2020

HR Professional at a Financial Institution

You can use Seedly's savings calculator to calculate the best savings account for your situation and spending habits. Multiplier is good if you can fulfill the categories. If not, Jumpstart or CIMB Fastsaver is good as a no frills account.

If you can fulfill the multiple hoops for DBS multiplier, I think it is a very good yielding account to park your emergency fund. Anything above 1.5% I would consider acceptable to park my emergency fund there.

Sure, definitely have your emergency funds in a savings account that gives you a good interest rate....

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