Advertisement

Anonymous

14 Sep 2020

∙

Hi there, I have a 20k with OCBC savings account and the interest is very low. I'm thinking to close this savings account so that I can put this amount of money to get more interest. Any advice?

Singlife account is 2.5% interest for first 10k and is it safe? Does anyone has an account with Singlife and what is your experience? Or other suggestions you would recommend ELASTIQ, Dash EasyEarn, Stashaway.

13

Discussion (13)

What are your thoughts?

Learn how to style your text

DunSayBojioHor

13 Nov 2022

Can consider Sif, RHB, CIMB, SingLife and Trust Bank.

Reply

Save

Wei Sheng

14 Sep 2020

10K in Singlife, 10K in standard chartered.

Reply

Save

Dionysius Ang

07 Sep 2020

Aerospace Engineering at Nanyang Technological University

Mine is with Singlife and ELASTIQ at the moment. They are at 2.5% and 2% respectively.

They are both covered by SDIC. It is an insurance that protects your money should the company fails.

Both should be safe. But do note that Singlife's rates isn't guaranteed. From my personal experience, it is around 2.2 -2.3%

Reply

Save

JieLun Chua

07 Sep 2020

I would strongly recommend you to split up your savings into 2. Firstly, put in 10k into Singlife account since it is 2.5% (non-guaranteed). So far, the interest rate had been at 2.5% and if there is any changes to it, they would notify us regarding it. Secondly, you may consider looking at robo-advisors if you dont mind the risks and volatility of the investing. If not, u can consider putting in Standard Chartered JumpStart account which offers 1% per annum or StashAway Simple which offers projected 1.4% per annum. Please refer to Stashaway website for more information! Cheers!

Reply

Save

Tinexxxx

07 Sep 2020

I have 10k in Singlife, so far so good, getting the interest every month :) it’s nice that they show...

Write your thoughts

Related Posts

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?

Should I close my OCBC and move over to CIMB? How many banks is too many for a student? I have 2 bank accounts, OCBC and POSB now, both are the basic savings accounts with super low interest rates?

Should I use Syfe REIT+ if I have I’m planning to put low capital (1-2k) in it? I heard REITs are not useful for low amount. Currently at a young age with risk appetite and savings accounted for alr:)

Do you think that I should invest in Singapore Savings bonds vs putting my money in an OCBC 365 or UOB One account?

I am currently enjoying the highest interest rate possible on the DBS multiplier (2 categories). Should I get another savings account or invest the excess money (amount above 50k) into digiportfolio?

Related Products

DrWealth

4.7

309 Reviews

SaaS Hypergrowth Investing Course

Beginners to Advanced

COURSE LEVEL

4 days

DURATION

Standard Chartered JumpStart Account

4.8

782 Reviews

DBS/POSB Multiplier Account

4.4

321 Reviews

Related Posts

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?

Should I close my OCBC and move over to CIMB? How many banks is too many for a student? I have 2 bank accounts, OCBC and POSB now, both are the basic savings accounts with super low interest rates?

Should I use Syfe REIT+ if I have I’m planning to put low capital (1-2k) in it? I heard REITs are not useful for low amount. Currently at a young age with risk appetite and savings accounted for alr:)

Do you think that I should invest in Singapore Savings bonds vs putting my money in an OCBC 365 or UOB One account?

I am currently enjoying the highest interest rate possible on the DBS multiplier (2 categories). Should I get another savings account or invest the excess money (amount above 50k) into digiportfolio?

Advertisement