facebookQuestion for FreeLancers! i notice most bank acct give high interest rate only if you hve stable salary credited every month. - Seedly

Advertisement

Anonymous

03 Sep 2024

Saving Hacks

Question for FreeLancers! i notice most bank acct give high interest rate only if you hve stable salary credited every month.

I am planning to switch to a free-lance job as private music teacher. i cannot seem to find a bank acct that offers me equally high interest rates. Am i missing something? Do you freelancers have a hack for this issue?

Discussion (16)

What are your thoughts?

Learn how to style your text

Karen

05 Jan 2025

Sharing Referrals at https://t.me/SgRefs

Let what the rest mentioned - digi banks have higher than usual rates. of course not as good as those other banks that require you to do a few steps.

I think what you'll find is that some of the best savings account rates are availble only if you credit a minimum amount to the account every month, and don't make any withdrawals. If you've got enough coming in every month a slightly better approach is to build a "bond-ladder" using 6-month T-bills. After 26 weeks you'll have a regular "conveyor-belt" of T-bills maturing that you can add to or maintain, You can use this together with Singapore Savings Bonds to build a very good safety fund.

View 1 replies

Use GXS.. currently have high interest

For a freelancer with no salary giro crediting, you can still use UOB account, gxs bank and mari ban...

Write your thoughts

Advertisement