Where do you recommend for me to park my emergency fund? I’m guessing the yield should be more than 2% for it to make sense

I keep it in a drawer at home. No yield but ever ready for emergencies

*Emergency Funds: Calculate monthly expenses (including rent+ food+ utilities+ petty cash) x 3/6 (depending on how big a safety net you are comfortable with)

*Divide emergency fund into 2 parts.
1. Half cash: Locker/Home
2. Savings account

*Considerations for emergency funds:
1. Fast liquidity
2. Easy access
3. Should be there when you need it (most investments will require atleast 3/7 working days to process)
4. Dont think about getting returns on the emergency funds, investments are meant for steady returns
5. Have a credit card at hand that can cover some emergency costs in case emergency funds run out and you need more time to get money out of other investments
6. Most insurance also need to pay upront and then return back money when you submit bills. Thus be aware of what is covered by your insurance product and how to claim it.
7. Make sure someone else also knows (parents, significant other, sibling) how to access your emergency funds, insurance etc in case you are unable/unfit to access them. (#nominees)

In my experience my emergency fund is with UOB One account - yes its a bank account much like savings account but earns extra interest if i get to do 5 monthly transactions like bills payment or debit transactions at restaurants, etc. For me that simple and uncomplicated approach achieves 2 very important considerations for an emergency fund: (1) quick withdrawal anytime or transfer out to any other accounts...including debit function, paywavw, etc (2) decent interest for my money while its there. Whatever i lose out to inflation i make up for it in some other investment products that i have but for my emergency fund its very important that capital is preserved, easy access and withdrwal function, and just an ok interest to top it off...hope that helps.

Possibly keep in bank accounts with higher interest rate so that the emergency fund is more liquid. Eg: CIMB FastSaver or RHB High Yield Savings account without requiring credit cards, etc sign-up to get the higher %