facebookWhat is the best savings account to deposit my money into that will allow it to grow the most? - Seedly

Anonymous

24 Jan 2021

Saving Hacks

What is the best savings account to deposit my money into that will allow it to grow the most?

Which saving plans should I go with that'll yield the most interest? (E.g OCBC 360 etc)
Planning to convert my mother's account and mine to a different saving plan. Like a one time deposit.

Discussion (2)

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Zac

24 Jan 2021

Noob at Idiots Invest

What's the purpose of these savings? If they're short-term goal funds like saving for expense in 1-2 years's time, consider cash management solutions. If they're emergency funds, I think honestly any bank will do, because emergency means you need the cash ASAP, no time to wait for a few days of processing and withdrawal.

If you have no short-term goal for these savings, and they're not emergency funds, consider putting them into an investment rather than letting them chill in the bank.

Money in investment is put to work, money in the bank is put to rest. You work so hard for your money, make it do some work also leh, don't let it just be slacking in the bank...

https://blog.seedly.sg/best-savings-accounts-si...

depends whether you want with multiple conditions or single tier type of savings account.

personally using CIMB because of its no fuss service. can just put in one time deposit. it has internet banking but no ATM or debit card, so will not be tempted to anyhow spend money.

hope this helps.

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