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I am an undergraduate with a new SC Jumpstart account. Currently, interest rates are going down. What should I do next?
Hi! I'm an undergrad with a new SC jumpstart account but was so bumped out to find out the rates decreased to 1% shortly after opening my account. Am considering Singlife given the 2.5% p.a. rates but they're relatively new to the market and I'm having some doubts...? The Seedly reviews of Singlife sounds pretty ok but any fellow undergrads/fresh grads that have it and have any personal anecdotes to share about it so far?
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This post is no longer accepting new comments because it has been merged with Seeing that Standard Chartered Jumpstart and OCBC 360 interest rates p.a. have been cut effective from July 1, where should I jump to for my savings?
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Hello there! Yes, you are right. SCB is revising its Jumpstart interest rate to 1% at the start of next month July. If you think the Jumpstart account yield is low, you might want to consider opening a Singlife account which yields 2.5% non guaranteed returns for your first $10,000. You can do a little bit of research first before opening an account with Singlife. Given that Singlife savings plan is capital guaranteed and is backed up by SDIC, I would say there are more pros than cons. One should select a product that has more pros than cons, rather than a product with no cons - because it just doesnt exist.