Brandon

04 Sep 2021

∙

For the elderlies of age > 65. If they have some spare cash, where should they park their money to get a higher interest?

Where should the elderly park their spare cash for higher interest?

Discussion (4)

What are your thoughts?

Learn how to style your text

CCW

04 Sep 2021

If the focus is to have capital protection and higher interests, then probably fixed income instruments with locked up periods.

Save

Tan Choong Hwee

04 Sep 2021

Solutions Specialist at Providend

Can consider RSTU to RA for 4% risk free interest, extra 1% for 1st $60k, another extra 1% for 1st $30k, and gov dollar-for-dollar matching up to $600 if eligible for MRSS:

https://www.cpf.gov.sg/members/FAQ/schemes/Reti...

RSTU to RA after CPF LIFE started will have RSS-type monthly payouts via AMP:

https://www.cpf.gov.sg/members/FAQ/schemes/Reti...

Save

Wake Up Your Dollar

04 Sep 2021

Hi, if you are looking to "park" cash, I would suggest investing in money market funds. You can chec...

Write your thoughts

With Bank interest rates so low, would it be better if I pay back my CPF Home loan with the spare cash and get a higher interest from CPF

Parking money in deposits with high interest rate or low-risk money funds with higher interest rate?

What is the interest rate after the first 25k on DBS multiplier? Is it 0.05% (standard bank interest rate)? If so, should i park my money (in excess of 25k) elsewhere for higher interest?

Where do people usually “park” their savings at? Interested to know where I can get a higher interest rate?

I currently have $20k in my DBS mulltiplier earning 1.6%, intending to use this money in near future e.g. 3 to 4 years time. Where else will be good and secure to park this money for higher interest?

Standard Chartered JumpStart Account

4.8

778 Reviews

Maximum Interest: 2.50% p.a. for balances up to S$50,000

INTEREST RATES

MIN. INITIAL DEPOSIT

MIN. AVG DAILY BALANCE

DBS/POSB Multiplier Account

4.4

321 Reviews

OCBC FRANK Account

4.7

211 Reviews

With Bank interest rates so low, would it be better if I pay back my CPF Home loan with the spare cash and get a higher interest from CPF

Parking money in deposits with high interest rate or low-risk money funds with higher interest rate?

What is the interest rate after the first 25k on DBS multiplier? Is it 0.05% (standard bank interest rate)? If so, should i park my money (in excess of 25k) elsewhere for higher interest?

Where do people usually “park” their savings at? Interested to know where I can get a higher interest rate?

I currently have $20k in my DBS mulltiplier earning 1.6%, intending to use this money in near future e.g. 3 to 4 years time. Where else will be good and secure to park this money for higher interest?