Advertisement

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?

5

Discussion (5)

What are your thoughts?

Learn how to style your text

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?

Reply

Save

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.

Reply

Save

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 ...

Write your thoughts

Related Posts

I just saved up my first $10,000 and DBS Vickers account. I'm looking for good dividend counters of at least 4% yield. There are so many to choose from and I'm overwhelmed, any suggestions?

I'm a fresh grad trying to decide which savings account to open. Was gonna go for DBS Multiplier until they revised their interest rates today. Any recommendations?

I’m a fresh graduate and am looking to open a savings account with good interest rates! OCBC360 or Singlife?

Looking for high-yield savings account to keep my emergency funds. Singlife offers a good interest rate of 2.5% but unsure about its liquidity. Any recommendations/thoughts based on your experience?

Hi, I’m a low risk investor with my funds currently in my normal savings account. Been thinking about investing in SSB instead due to the recent fall in interest rates. Any thoughts?

Related Products

Standard Chartered JumpStart Account

4.8

782 Reviews

Maximum Interest: 2.50% p.a. for balances up to S$50,000

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

DBS/POSB Multiplier Account

4.4

321 Reviews

OCBC FRANK Account

4.7

212 Reviews

Related Posts

I just saved up my first $10,000 and DBS Vickers account. I'm looking for good dividend counters of at least 4% yield. There are so many to choose from and I'm overwhelmed, any suggestions?

I'm a fresh grad trying to decide which savings account to open. Was gonna go for DBS Multiplier until they revised their interest rates today. Any recommendations?

I’m a fresh graduate and am looking to open a savings account with good interest rates! OCBC360 or Singlife?

Looking for high-yield savings account to keep my emergency funds. Singlife offers a good interest rate of 2.5% but unsure about its liquidity. Any recommendations/thoughts based on your experience?

Hi, I’m a low risk investor with my funds currently in my normal savings account. Been thinking about investing in SSB instead due to the recent fall in interest rates. Any thoughts?

Advertisement