Do you think that I should invest in Singapore Savings bonds vs putting my money in an OCBC 365 or UOB One account? - Seedly
 

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Asked by Anonymous

Asked on 25 Sep 2018

Do you think that I should invest in Singapore Savings bonds vs putting my money in an OCBC 365 or UOB One account?

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Jay Liu
Jay Liu, Sleepyhead at Land of Dreams
Level 6. Master
Answered on 25 Sep 2018

Have a sufficient balance in your savings account. E.g. Having the min balance + some spare cash to use. Then the rest you can put into SSB. If you can hit the conditions for High(e.g. 3%) interest, you can consider just putting in the savings account itself.

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Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 8. Wizard
Answered on 25 Sep 2018

SSB is good to replace fixed deposits but we also need cash in bank account for bills and expenses.

It is good to invest in SSB but leave some in those accounts for expenses and bills while earning better interest.

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If you need the money in a short term window then putting it in a savings account is better

if you do not need it anytime soon then put it into SSB.

If capital is not an issue a combination would be good. Everyone has daily spending so when you combine both the spending and savings Acc that’s a plus

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Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered on 25 Sep 2018

it depends on whether you'll need the money to buy any big ticket items (such as house, car, or baby coming soon, etc) anytime soon. If yes, then putting it in a high interest savings account is better. If you can leave the money untouched for years, then I'd suggest getting the SSBs :)

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