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Anonymous

08 Sep 2020

∙

General Investing

Hi, I’m a low risk investor with my funds currently in my normal savings account. Been thinking about investing in SSB instead due to the recent fall in interest rates. Any thoughts?

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DunSayBoJioHor

13 Nov 2022

Interest rate for SSB is great now but you have to consider the liquidity of SSB too. Will it be ok if you aren't able to access the funds in SSB in an emergency?

SingLife or even Trust Bank (up to 2.5%) is much better in terms of liquidity and no/low requirements.

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Dee Lee

08 Sep 2020

Rachelle is right. Start by parking your money in SingLife – at least you'll be earning 2.5% interest while you continue to ponder. The interest is reflected daily. App stability is not fantastic at the moment but the interest is real.

Meanwhile, start reading about basic investing. Just 3 basic products for a start – what are stocks, bonds, ETFs? For beginners, it's better to start by buying ETFs instead of stock-picking.

Explore the different account combinations you can open for trading. You can either start a CDP account + trading account (e.g. DBS Vickers), where you hold your own stocks. Or go for others like Saxo/IBKR/FSMOne, where they hold your stocks on your behalf.

Happy investing!

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Kevin

08 Sep 2020

Mechanical Engineering at Nanyang Technological University

Think you will be better off investing in the STI ETF. SSB has not been performing well in recent ye...

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