Advertisement

Anonymous

05 Mar 2020

∙

General Investing

Why do people invest in SSB over putting their money in high-interest savings accounts or fixed deposits?

Is it a wise decision to put your money in SSB over a high-yield savings account? What about a fixed deposit? Which is a low-risk investment that would be good?

4

Discussion (4)

What are your thoughts?

Learn how to style your text

Chris

13 Feb 2024

If above 55, can I deposit fund into my cpf? What is the interst rate? Can I withdraw before 65

Reply

Save

Siyi

01 Feb 2023

SSB is for long term investment over 10 years and the rates are locked. FD rates are not fixed and depends on market condition.

Reply

Save

Hariz Arthur Maloy

05 Mar 2020

Independent Financial Advisor at Promiseland Independent

The highest interest account without any hoops would be CIMB fast saver and that doens't beat SSB yi...

Write your thoughts

Related Posts

Are there advantages in having a fixed deposit account and a savings account? Why do some people put money into a FD account, instead of say, putting everything into a savings account (e.g. DBS Multiplier)?

School loan repayment has been extended to next year. How can you better utilize the money within a year (to grow the money) other than a high-interest savings account?

Does it even make sense to put money in a savings account vs it in a highly liquid investment. I always hear to limit exposure but at the same time, "Investments always go up long run"?

Should a student with $15k savings invest in stocks or robo-advisors or put it in a high interest rate savings account like Singlife?

I have 30k savings on my DBS account that I can invest anywhere. Where should I park this extra money? Is DBS fixed deposit a good idea for invest for two plus years?

Related Products

Standard Chartered JumpStart Account

4.8

782 Reviews

Maximum Interest: 2.50% p.a. for balances up to S$50,000

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

DBS/POSB Multiplier Account

4.4

321 Reviews

OCBC FRANK Account

4.7

212 Reviews

Related Posts

Are there advantages in having a fixed deposit account and a savings account? Why do some people put money into a FD account, instead of say, putting everything into a savings account (e.g. DBS Multiplier)?

School loan repayment has been extended to next year. How can you better utilize the money within a year (to grow the money) other than a high-interest savings account?

Does it even make sense to put money in a savings account vs it in a highly liquid investment. I always hear to limit exposure but at the same time, "Investments always go up long run"?

Should a student with $15k savings invest in stocks or robo-advisors or put it in a high interest rate savings account like Singlife?

I have 30k savings on my DBS account that I can invest anywhere. Where should I park this extra money? Is DBS fixed deposit a good idea for invest for two plus years?

Advertisement