I have read that interest rate are going down.. I might be a little late but what is the best way or financial product to protect myself against the fall in interest rate?

It will be good to start considering endowment plans. While you can consider investment, you have to take into account the risk that you are willing to incur.

For someone who is less risk-oriented or just starting to understand about financial products, it might be wise to start with endowment plans while you learn about different investment/financial products.

Disclaimer It is important to note that endowment plans are different from fixed deposits or savings accounts.

If your funds are in a low-interest bank account now, maybe you could consider putting it in a Singlife account, which doesn't have a lock-in period so your savings are quite liquid while generating around 2.5% in interest! I elaborate more about the account here.​​​