facebookHi! I am 23 y/o with $20k to spare. Would you recommend to put $10k in Singlife (2.5% pa) and another $10k in Great Eastern Great SP (2 years tenure, 1.8% returns pa)? - Seedly

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Anonymous

29 Sep 2020

Insurance

Hi! I am 23 y/o with $20k to spare. Would you recommend to put $10k in Singlife (2.5% pa) and another $10k in Great Eastern Great SP (2 years tenure, 1.8% returns pa)?

Or is there any other better alternatives on how i should allocate my money?

Discussion (8)

What are your thoughts?

Hey! How long have you been using Singlife? If I am not wrong, they said the interests can go up to 2.5% (take note of the wording here) and hence due to our current economic outlook, I think I have only been earning 1% worth of interest for the last few months.

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Hello Anoy!

Just adding on to what Justin has mentioned! While I agree with him, there's one more thing to consider -- your time horizon. If you foresee yourself needing the money in less thn 5 years time then those are perfectly okay choices. For example, student loan, BTO downpayment etc.

However, though, it might be worthwhile to consider allocating a small part of it to a slightly more aggressive fund to potentially earn a higher return.

View 2 replies

Justin Mok

Justin Mok

28 Sep 2020

Level 8·Bachelor of Business Management at Singapore Management University

Hi there!

Both options seem great to make some decent returns and to conserve capital if you are al...

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