Should I put my money in the bank or fixed deposit?

I have 10k in my bank right now, drawing ~2% interest. Should I put the money in a fixed deposit instead?
My main concern is that I won’t be getting much more interest and I won’t be able to withdraw the money for a few years

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Billy

19 Jan 2020

Development & Acquisitions Manager at Real Estate Private Equity

Do you have any financial obligations / foresee yourself having one? Nonetheless, always good to have some cash on hand (literally), some in your savings account before placing some in FDs. Rule of thumb - don't put your eggs in one basket

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Lim Boon Tat

19 Jan 2020

Mathematics at Cambridge University

You won’t get much more interest than 2%, so it’s much better to keep it where it is.

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pat

19 Jan 2020

There are bank account that do not require you to commit 1-2years to get their FD rates. Some of the bank accounts are like Maybank iSavvy and Standard chartered eSaver account where they credit the FD rate interest to you every month

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