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Anonymous

20 Nov 2023

∙

Where to put savings when relocating?

Hey all, I am looking at a relocation for work next year. I'm wondering where to park my savings now.

I currently have the OCBC 360 account that's giving me some bonus interests on salary credit, savings growth and cc spend. Living overseas means I'll lose out on that bonus interest.

Something I'm looking at is Trust Bank with a base interest of 1.5%, but I'm not sure if there's anything better out there. I don't think I'll be making any card spend/Giro payments while overseas though, so lots of banks bonus interests are out of the question for me.

Some facts:

No debts
No partner/children, not planning to buy house any time soon
Just over 100k in the OCBC 360
35k in T-Bills, maturing around May 2024
~50k in equity (thinking to sell before leaving SG)

TL;DR I don't know where's the best place to put my savings while I'm away from Singapore

9

Discussion (9)

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Seedly Rookie

23 Nov 2023

Or you can consider putting some money in CIMB (3.5% p.a.) ?

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Seedly Rookie

23 Nov 2023

How about putting some money in Chocolate Finance (4.5% p.a. for the first $20K) ?

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SamC

22 Nov 2023

SSB is a good choice.

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Justin

22 Nov 2023

Content Strategist at Seedly

You're in luck. Here's an article tailor-made for you! These are all savings accounts with little to no hoops:

https://blog.seedly.sg/best-savings-accounts-wi...

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Charles Ng

Edited 22 Nov 2023

SSB for slightly over 3% rates, if you don't mind 1 month delay withdrawal.

UOB stash effective ...

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Hi, I've emergency savings, purchased SSB and a unit trust. I'm also saving for a house. Is my financial portfolio diverse enough at the moment or should I invest in REITs/stocks? I'm stuck between putting my money into savings or investing?

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