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Gabriel
07 Jun 2020
Undergraduate at National University of Singapore
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Yes, it's a fantastic account to park your emergency fund. Of course, to optimise the interest rate, you can just save $10,000 in it and never top up again. However, for myself, I would actually save all my emergency fund in the Singlife account regardless of the amount, since the 2.5% for the first $10,000 is attractive and would be troublesome to have 2 emergency accounts.
As Gaius stated, SCB JumpStart is a really good choice as well.
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In my opinion, its a really good place to put your "emergency fund". Since most people have expenses...
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Yes definitely, 2.5% interest p.a with no other terms and conditions such as min. salary credit and spending. Besides, there's no lock-in required so you get the flexiblity of withdrawing your funds if you need to without being penalised.
I feel that the Singlife Account is really attractive as it functions like a bank account and the interest of 2.5% p.a it offers is super competitive and the highest in the market at the moment, subject to changes of course. Moreover, your deposits/capital is guaranteed and insured under the SDIC so rest assured.