Asked 2w ago
If you are considering high-interest savings accounts, CIMB has recently announced today that they will be revising their interest rate for FastSaver. You might want to take a look here.
Other alternative choices that do not require spending/minimum sum include:
Singlife Account (2.5% p.a, capaital guaranteed, interest non guaranteed)
FSM Auto-Sweep Account (1.05%p.a, interest rates may be revised)
Stashaway Simple (1.9%, capital non guaranteed, interest non guaranteed)
SCB JumpStart (1%p.a, only for aged 18-26)
Crypto Earn (Depending on currency, as high as 16%p.a (CRO) without any prior staking. However, do take note of the volatility of cryptocurrencies. For higher interest rates, a fixed duration of 90 days is imposed before withdrawal can be made. Intetest is paid out every 7 days)
Crypto Exchange (20%p.a for CRO currency. Similar to Crypto Earn, just that fixed duration is set at 180 days. Interest is paid out daily)
Vivid Account (1.05% p.a for first 10k, 1.30% for 10k-20k)
Tiq 3 Year Endowment Plan (2.10%p.a, guaranteed)
Stashaway or Wahed Invest are ETF based robo advisors which offer liquidity of 1 to 3 working days.
If you're talking about 30k pure investment monies, I.e not emergency funds. Better off looking for asset backed low risk instruments. They can yield 8 - 10% for a 12 month lock in.
Google search it yourself and DYDD.
If it is pure investments, yes you can do better!
10 more comments
There are many options, some good, some bad.
What I would do and avoid:
Hi Anon, it really depends on your risk profile.
StashAway would have 'safer' returns since it invests in ETFs, so the returns will be steady, but will be much less compared to if you invested that money into individual stocks.
So you'll need to consider how much risk you're willing to take, and how much research you're willing to do to invest in investment vehicles that have higher rewards, but they come with higher risks too.
There is no right or wrong answer to investing, and it really depends on the individual. So you'll need to see which vehicles you're most comfortable with and go ahead with that product!
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