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Anonymous
Anything better than ssb?
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Chin Guo Qiang (ITIL4 / CSPO / CSM)
Edited 05 Jan 2024
Assistant Vice President, IT Operations at Bank of China Limited
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The safest solution is really the ssb as it is backed by the government. If you wanna increase your returns, you can look at regular savings plan or robo advisor, but it will have higher risk as you will be exposed to market volatility.
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Fixed deposits if you need your funds to be liquid. Otherwise, you could also consider CPF if you are near the age of 55 and fulfill the conditions to withdraw those funds according to CPF's rules.
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Alex Chua
27 Feb 2020
Seedly student Ambassador 2020/21 at Seedly
If u r still below 30, u can put in 2 % interest rate saving account. Standard chartered jump-start account
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Rais M
27 Feb 2020
Accountant at SME
You are asking if there are anything better than SSB. So I guess SSB should not be the answer you ar...
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Singapore Saving Bonds (otherwise known as SSB) should be 1 of your investment channels for this.
Another channel is local and foreign banks' Fixed Deposit schemes (with a range from 3 months to 36 months, depending on your risk appetite and needs), that you might to consider.
Such Fixed Desposit schemes usually are local SGD one, but there are also foreign overseas currencies one such as USD, but please do your own homework before embarking on local Fixed Desposit plans (they are not called senior or elderly safekeeping tool for no reason) .
Otherwise, you can do an high interest yield saving account (preferably with simple no-frills conditons, as little as possible), at least a moderate interest of 1+% upfront.
Most people tend to go for OCBC 360, UOB One etc, but these accounts have a minimum base criteria, that is to credit your salary to the bank respectively. If you are self-employed (ie. own business owner or salesperson for insurance and property markets), this will not be feasible to you as the income is irregular in the form of lump sum deposits.
Therefore, you might want to consider these 3 accounts for 1 portion of the money first, before anything else.