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Where should I park my money if I need it within 6 - 12 months?

Hi, me and my wife would be collecting our BTO flat Q3 of next year (if everything goes as planned), thus we're planning to pay for renovation without taking a loan.

As of now, we have enough for the budget we set for the renovation (50k) in savings. Just wondering if it's better to park the money we have in our bank accounts or is there somewhere else we can place it to grow it slightly and withdraw it for our renovation?

We do have other investments in place and we're not planning to touch them since those are our long term plan.

Discussion (2)

What are your thoughts?

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  1. High yield savings account (eg, Singlife)

  2. Or can consider those short term endowment plans! (Eg, GIGANTIQ etc)

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