Account balance exceed max amount with special interest?

Before you move on to the next account, it will be best to evaluate whether you need so much liqudity in the short-term. Otherwise, your money could be working harder for you in other financial instruments.

If you are between 18 to 26 years old, then you should consider Standard Chartered JumpStart account. This is because it gives an interest rate of 2% per annum for your first $20k balance. Furthermore, there is no fees and minimum balance required in order to maintain the account.

Moreover, it comes with a debit card that gives you 1% cashback on eligible spending. With this in mind, it is certainly a worthy account for a start.

Alternatively, you may consider CIMB FastSaver. This is because it gives an interest rate of 1% per annum for the first $50k account balance. In like manner, there is no monthly fee associated with maintaining the account. Hence, it is worth taking a look as well.

Finally, for OCBC 360, interest is credited at the end of each month. Thus you may withdraw the excess funds at the start of next month.

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