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Anonymous

24 Jul 2020

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If I have 100k in my OCBC Bonus+ Account (max 0.7%), should I move into CIMB Fast saver (0.5% for first 50k, 0.8% for next 25k and 1.5% for next 25k)?

It seems that for the first month, the interest yield in CIMB is higher (S$68.75 compared to S$58.33 - not sure if I calculated it correctly). But I am not sure with the compounding effect, whether in the long run, it makes more sense just to keep the money in my OCBC Bonus+ account, since beyond 100k, CIMB only has an interest rate of 0.4% so the interest earned is not compounded as well compared to OCBC?

OCBC Bonus+ Savings Account CIMB FastSaver Account

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Benny

19 Oct 2023

Too many prom,o around for high interest

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Tan Wei Ming

24 Jul 2020

Founder and Writer at Frugal Youth Invests

You can consider RHB High Yield Plus account.

First $50,000 1.05%

Next $25,000 1.55%

Next $25,000 1.85%

Above $100,000 0.60%

https://rhbgroup.com.sg/personal/high-yield-sav...

You should put $10000 in Singlife first.

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Am considering between the CIMB fast saver and singlife account. CIMB gives 1% interest up to 50,000 balance, but Singlife gives 2.5% for first 25k and 1% up to 100k. Which one is better?

Should I close my OCBC and move over to CIMB? How many banks is too many for a student? I have 2 bank accounts, OCBC and POSB now, both are the basic savings accounts with super low interest rates?

I saved my first 50k in UOB ONE account to earn higher interest. What should I do with my next 50k in order to get higher returns?

What should I do with about $50k-$80k in spare cash at the moment? I have OCBC 365, UOB One Account and Citi Maxigain Account already and have maxed out the limits on these.

Hi I have around 40k of idle cash, no income.. from the reviews I see that CIMB Fast Saver and Citi MaxiGain are the 2 most popular savings account without having the need to credit salary. Which one should I go for?

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