For emergency funds, is it enough if I put this in a DBS multiplier account? What is the best way to make sure it is kept separate and safe and giving some kind of minimal return? - Seedly
 

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Asked by Anonymous

Asked on 25 May 2019

For emergency funds, is it enough if I put this in a DBS multiplier account? What is the best way to make sure it is kept separate and safe and giving some kind of minimal return?

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You can keep your emergency fund in a instrument that has high liquidity and very low risk.

I keep mine in CIMB that gives 1 to 1.5% simple and “hassle-free”

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Junus Eu
Junus Eu
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Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 26 May 2019

Sure, definitely have your emergency funds in a savings account that gives you a good interest rate.

If you want something that makes it inconvenient for you to withdraw, try CIMB. After all, I do believe their bank branches are only at Raffles Place or Orchard!

Makes you think twice before withdrawing money ;)

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Gabriel Tham
Gabriel Tham, Kenichi Tag Team Member at Tag Team
Level 9. God of Wisdom
Answered on 26 May 2019

If you have at least $500 you can put it in singapore savings bond.

You will need a CDP account which you can apply online.

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