facebookI'm a student trying to save 1k per month, any suggestions on where to save the money at to save more money? - Seedly
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Anonymous

20 Jan 2021

I'm a student trying to save 1k per month, any suggestions on where to save the money at to save more money?

Is there a liquidity way of saving more cause I thought of putting in fixed saving?

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    What are your thoughts?

    Chris

    Chris

    20 Jan 2021

    Level 14·Owner and Writer at Tortoisemoney.com

    I think the recent insurance style savings plans are good for your purpose. These include Singlife, Gigantiq and Dash EasyEarn among others. Such plans are quite liquid and most give returns around 1.6-2.0% which should be better than most fixed deposits on the market at the moment. Do note however that a portion of the returns tend to be not guaranteed returns and as such do consider that when making your final decision.

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      thefrugalstudent

      thefrugalstudent

      20 Jan 2021

      Level 12·Founder at thefrugalstudent.com

      Hi Anon,

      To add on to what Chris has mentioned, do note that it is currently not possible to open a new Singlife account as they have closed account openings - you will be put on a waiting list.

      If you want to open an account immediately, you can consider Dash EasyEarn or GIGANTIQ. They currently both offer 1.8% interest p.a. for the 1st year.

      Dash EasyEarn guarantees 1.5% interest while GIGANTIQ only guarantees 1% interest. However, GIGANTIQ only requires a balance of $50 while EasyEarn requires $2000. Visit their site for more info: https://www.tiq.com.sg/faqs/gigantiq/#faqContent

      Hope this helps!

      Regards,

      thefrugalstudent

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