Alcander Seow

Environmental Engineer Minor in Business at Nanyang Technological University

03 Jan 2021

∙

General Investing

Is the current SSB rate worth it?

With the beginning of the new year, is the current Singapore Savings bonds worth putting money in, cos of the changes in the interest rates of savings accounts decreasing. I don't mind leaving my funds $500 in a place for about 1 or so, maybe longer, depending on the situation. Any suggestions or recommendations? Do share with me, thanks 😊😊😊😊

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Jing Wei

03 Jan 2021

Nope. It’s a waste of time and effort. Have you checked out Singlife? They offer 2% pa for first $10K with capital guaranteed under SDIC. The interest will be credited monthly.

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saylavee

03 Jan 2021

Nope, you can forget about ssb for at least a year. Usually when interest rates goes down, govt will expect you to spend more money to boost economy and vice versa. This also explains the craziness of the stock market where there was this surge in people not wanting to put in banks. So go for those with higher rates and since most are sdic covered, its capital guaranteed.

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Kok Hong

03 Jan 2021

No... rates are atrocious. Go for singlife, dash easyearn, gigantiq. Or even cash management service...

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