Anonymous

13 Jul 2020

∙

I've been working full time for 5 years, saved all my money in banks (DBS & UOB & OCBC) until recently all the interest rates keep dropping. What should I do?

Hello SEEDLY! I've been working FULL TIME for 5 years, saved all my money in banks (DBS & UOB & OCBC) until recently all the interest rates keep dropping. I have changed to SINGLIFE to get the 2.5%. But most still in the banks. Besides keeping emergency funds in the banks. How else can I build up my portfolio with minimum risk but better than the bank rates? THANK YOU!

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Lim Qin Da

13 Jul 2020

Finance & Business Analytics at National University of Singapore

Hey Anon!

I recently did a comparison on Seedly among the popular choices brought up by the community on where they would park their savings and emergency funds in this low interest rate environment, and it provides a summary of the interest rates and benefits as well. The comparison includes savings accounts, ultra-low risk investments and insurance savings plans. Do check it out here!

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J

11 Jul 2020

You may want to consider elastiq, capital and interest (1.8%) guaranteed. Flexible withdrawal after day 91. Am personally using it.

https://www.tiq.com.sg/product/universal-life-i...

If you want a higher interest rate, you may also consider Stashaway Simple or EndowUS Core or Enhanced where they invest in MMF. However, it's not capital guaranteed and interest rates are only projected.

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Caleb Tan

11 Jul 2020

I've recently moved my money from Multipler to StashAway Simple - it's 1.9% p.a, much better than th...

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