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Anonymous

18 Apr 2019

Credit Cards

What are some saving account options for self-employed/homemakers above 30 years old?

POSB SAYE and DBS Multiplier all requires salary crediting. Is there a better saving account with good savings rate for self-employer or homemakers to save money in? For someone that can save at least $1000 a month, would it be best to put in a savings account or invest? However, risk-averse due to age.

Discussion (5)

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For my non-salary crediting accounts, I use both CIMB Fast Saver and also the Citibank Citi MaxiGain Savings Account. In terms of priority though, I put the max in the Citi MaxiGain Savings Account first, with the rest going to other accounts.

Based on latest as of 19th March:

  • Around 1% base interest (70% of the 1-month SIBOR (Singapore Interbank Offer Rate))
  • Bonus interest rate that steps up month, starting from 0.1% p.a. to a maximum of 1.2% p.a

Gabriel

09 Aug 2018

Undergraduate at National University of Singapore

Would suggest CIMB Fastsaver, 1% interest with no strings attached

Citibank MaxiGain as recommended by Isabella if you have at least 15k to start a banking relationshi...

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