facebookWhat's the best place to keep $35k for 6 months and earn some interest? - Seedly

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          Anonymous

          29 Jul 2019

          Saving Hacks

          What's the best place to keep $35k for 6 months and earn some interest?

          I have about 35k which I need to hold on to for about 6 months, and I thought I could at least earn a bit of interest on it for a while. I would prefer to separate this amount from my own DBS Multiplier account. Which would be my best option? CIMB or some fixed deposit?

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              Discussion (3)

              What are your thoughts?

              Elijah Lee

              Elijah Lee

              27 Jul 2019

              Level 18·Independent Financial Advisor at Phillip Securities (Jurong East)

              CIMB currently offers the highest no strings attached savings account at 1%. However if you are very certain that you will have no need for the money before 6 months, consider a fixed deposit. CIMB rates for FDs are also competitive.

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                  Clarence Chua

                  Clarence Chua

                  27 Jul 2019

                  Level 10·Financial Planning Specialist at Prudential Assurance Singapore

                  Most fixed deposit is longer than 6 months as far as I know.

                  It may be best to put them into a high yield savings account such as your multiplier account. You can put them in CIMB too, the returns in absolute dollars will be marginal since its 6 months only.

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                      If you need to take some out, then consider CIMB FastSaver, if not you can consider fixed deposit li...

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