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Anonymous

Edited 08 Jan 2023

General Investing

Short term investment advice

I have the following savings account/investment with me. Currently just want to diversify my investment and to earn more money from the increased interest rate.

  • POSB savings account that is used to credit my salary (this is a part of my emergency fund, $~20000 in this account)
  • SC Jumpstart Account (I am >26 years old and have ~$30000 into this account, and this is also a part of my emergency fund so I plan to put the excess into fixed deposit accounts or T-bills for short term investment)
  • Monthly DCA into VWRA (this would be for long term investment, currently I have been putting $2000 monthly into this since June 2021)
  • Free apple stock that I had gotten from MooMoo

Should I be putting a part of what I have (~$10k) into fixed deposit accounts for short term investment? Looking at CIMB fixed deposit account as it's 4.1% per annum interest rate is quite enticing and T-bills also offer a similar interest rate and it is much better than the pathetic interest rate that my POSB savings account is holding.

Discussion (18)

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I would say it depends on what this cash is. Is it for liquidity purpose? Is it something u can wait for it to be locked up for a short term?

Gotta consider carefully from different perspectives.

All the best!

Yes, take advantage of the high-interest environment.

cctzjd

23 Jan 2023

Own time own target at Self Employed

CIMB takes long time to open account based on what I

If I am not wrong, POSB also has this POSB SAYE account that offers higher interest rate for crediting your salary there.

For amount that you expect you do not need in the short term, you can put them into Fixed Deposit or T-bills. Currently Fixed deposit rates are equally similar or better than T-bills so I will prefer Fixed deposit. OCBC happen to have this 8 monyhs FD promo offering 4.08% which is pretty attractive. And the plus side is it is easy to apply through online banking if you have a 360 account

As for investments, it depends on your risk apptite and time horizon.

Javier Tan Yan Kai

15 Jan 2023

Actuarial Analyst at AIA

Yes if u have no immediate needs...

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