Anonymous

11 Jul 2019

∙

How common is it to have couples to channel their salaries to a joint savings account so as to enjoy better interest rate gains? Do you personally do it?

I have heard that there are times whereby combining salaries and crediting it to a joint savings account is what most people do nowadays. However, I have also heard of instances whereby this isn't true and that more can be gained from crediting your own salaries into a personals high i/r savings account.

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Alison Liew

25 Apr 2019

Hi,

It is definitely not common for couples to channel their respective salaries into a joint savings account. What i found more common is that couples would each contribute a pre-determined amount into a joint savings account regularly. My wife and I are comfortable channeling our salaries into a joint account and we have managed to increase the interest rate of our savings in this manner. You can learn more about this tip in this article

https://heartlandboy.com/get-highest-interest-r...

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Brandan Chen

24 Apr 2019

Financial Planner at Manulife Singapore

Yes.

Some of my "couple" clients do set aside a joint account purely for emergency funds. They prefer Citibank Maxigain because of the higher interest rates and that the conditions are easy for them to meet.

1) Maintain at least 70k
2) Do not take out the money

Since its emergency funds, they hope not to touch it.

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Clarence Chua

24 Apr 2019

Financial Planning Specialist at Prudential Assurance Singapore

There are many ways to enjoy better interests rate via your bank accounts. Need not necessarily be t...

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