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Anonymous

12 Jun 2019

∙

General Investing

If I have $10,000 in savings which I'm storing in my multiplier account, is it a good idea to use 50% of them to buy SSB, which offers higher interest rates?

I currently have $10,000 in savings that I'm storing in my DBS Multiplier account as "reserves". Open to investing around $3k in equities, but the rest will be an "emergency buffer".

Was planning to just keep them in DBS Multiplier to accumulate and grow wealth. I'm currently getting around 1.55%-1.85% in interest for my Multiplier account. Was wondering if it makes more sense to put $5-6k of these reserves in SSB instead, since even the 1st year interest is already higher than my Multiplier's?

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Discussion (5)

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DunSayBojioHor

13 Nov 2022

You have to consider the liquidity of SSB too. Will it be ok if you aren't able to access the funds in SSB in an emergency?

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Fan ZD

12 Jun 2019

Employee at A Bank

If you are young with few commitments, I would even suggest putting more into higher risk, higher rewards investments. SSBs interest rate is pretty low.

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YT

07 Jun 2019

I'm guessing that 3k for equities, 5-6k in SSB, 1-2k in bank? Correct me if i'm wrong. Personally I ...

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