What would be the recommended option for my spouse, who is a foreigner working here, to start investing/saving?

Hey Anon,

If your wife has at least a 5 year horizon, she should potentially try investing in a globally diversified portfolio provided by an FA or a Robo Advisory.

I would also suggest choosing a portfolio that distributes dividends as a means to start and see her money growing and provide cashflow. It will make any newbie more confident in investing as well.

These portfolios are fully liquid and are considerably cost efficient as well plus a means to achieve a much better return to the other options you've mentioned (which are fine picks too, especially SSB). :)

SSB is a good alternative. Even putting your money in for one year would beat that 1.9%! If you can put your money in SSB for a longer period of time, the interest rate would only go higher. Would recommend!

Alternatively, you can waiting until the CNY period to see if any banks offer better promotional rates. Sometimes banks do!