Anonymous

26 Jul 2020

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Which bank account should I use to keep my emergency funds?

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Tan Wei Ming

26 Jul 2020

Founder and Writer at Frugal Youth Invests

In this low interest rate environment, I would choose Singlife for my emergency fund. It is the most liquid compared to other savings product.

Some will recommend Cash Management like Stashaway Simple and Endowus Cash Smart but I believe that you want your emergency fund to be as liquid as possible.

You may read my article here to understand more about which savings products to go for.

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Yang Teng

26 Jul 2020

You can choose an account with high interest and liquidity. You can consider high interest savings accounts such as Standard Chartered JumpStart or multiplier accounts like UOB One or savings+insurance account (Singlife).

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Related Posts

Hi! I’m a university student working part time, and I have about $5k I have access to. I consider these my emergency funds, but is it advisable to keep these in SSB rather than a regular bank account?

Can someone enlighten me on what it means by it is an insurance policy account and not a bank account, such as Singlife? What are the cons as compared than opening a bank account for my emergency funds?

For emergency funds, what would be the best savings accounts to keep them in? is it enough if I put this in a DBS multiplier account?

How can I fund my Saxo trading account (base currency USD) from a Singapore bank account with SGD balance? Can I use money transfer service such as Transferwise or Instarem? What's the cheapest way?

How many bank accounts should I have? One for savings, one for emergency funds and one for spending? What banks should they be?