facebookI am 25yo this year, saved around 50k. Been doing fixed deposits for quite a few years recently took out as I am planning to do investment, Are there any investments with higher returns than fixed deposit? - Seedly

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I am 25yo this year, saved around 50k. Been doing fixed deposits for quite a few years recently took out as I am planning to do investment, Are there any investments with higher returns than fixed deposit?

Please advise!

Discussion (3)

What are your thoughts?

Hey there.

If you are considering high-interest savings accounts, CIMB has recently announced today that they will be revising their interest rate for FastSaver. You might want to take a look here.

Other alternative choices that do not require spending/minimum sum include:

Singlife Account (2.5% p.a, capaital guaranteed, interest non guaranteed)

FSM Auto-Sweep Account (1.05%p.a, interest rates may be revised)

Stashaway Simple (1.9%, capital non guaranteed, interest non guaranteed)

SCB JumpStart (1%p.a, only for aged 18-26)

Crypto Earn (Depending on currency, as high as 16%p.a (CRO) without any prior staking. However, do take note of the volatility of cryptocurrencies. For higher interest rates, a fixed duration of 90 days is imposed before withdrawal can be made. Intetest is paid out every 7 days)

Crypto Exchange (20%p.a for CRO currency. Similar to Crypto Earn, just that fixed duration is set at 180 days. Interest is paid out daily)

Vivid Account (1.05% p.a for first 10k, 1.30% for 10k-20k)

Tiq 3 Year Endowment Plan (2.10%p.a, guaranteed)

There are a lot of investments with returns higher than FD. However, higher returns comes with higher risks. It is important to consider the purpose of the money you are planning to invest (e.g. for retirement, for future expenditure, for emergency funds, etc.)

There are short term endowment plans which works like FD in a way that your money is locked up for a period of time (usually longer ~3 years). Returns are about 2%++ with both capital and return guaranteed for some plans. There's also an insurance component.

There are equities, which represents ownership of a business. The potential gain is infinite (theoretically) and naturally is risky. It is not advisable to stock pick as it is hard to pick the winning stock every time and due to the costs involved. Therefore, most would go with funds to invest in a collection of a security.

Funds, such as exchange traded funds, are common in many's portfolio. Depending on the type of fund, you can invest in a basket of stocks, bonds, funds, commodities, precious metals, etc.

I'll leave the in-depth research to you.

Before investing, it is important to have at least 6 months' worth of expenditure as emergency funds (or more if you want to be safer) in a liquid asset such as high interest savings account. Do also ensure that you are sufficiently covered for insurance. Once both are done, don't rush to invest yet. Take your time to read through articles on personal finance sites such as Seedly and Dollars and Sense to learn ways on how to invest and what are your options (and about them).

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