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Anonymous

30 Aug 2020

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General Investing

I have $10,000 after setting aside emergency funds. Should I put all into Singlife to earn the 2.5% pa interest or split and diversity into other areas? If so, any suggestions?

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Jon Lye

30 Aug 2020

Hi, pretty much depends on your goals and when do you need it the cash. If liquidity is preferred, you may consider spliting them between dca in robo and singlife.

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Jie Sheng

30 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Hello, I personally would put in Singlife as the withdrawal is pretty fast, almost instant actually for me. So withdrawal is not an issue for emergency and also it currently has the highest 2.5%pa non-guaranteed (usually it is very close to 2.5%pa) interest rate.

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Gideon Ng

26 Aug 2020

Blogger at FI Pharmacist

Hi Anon,

It really depends on how you want to use this $10k you have. Are you saving for a short te...

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What do banks mean by 2.5% on the first 10,000? What if I only have $5,000? Am I still able to earn that 2.5% interest?

Would you suggest someone who is self-employed to put their savings with Singlife Account, since they provide the interest of 2.5% p.a. for the first 10k and 1% p.a. for the next 90k?

I am a 28 yo and have accumulated about $40k in savings, after setting aside the amount for tuition fee debt (10k, 1 year interest free) and emergency funds (10k). How should i invest this $40k?

Best endowment plans for 21yo? Have set aside insurances and emergency funds. Looking to put $15k into an endowment that lasts around 3years max?

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