I'm not sure where to park my savings to maximize the interest rate. on average i save about $1.4k and am looking at any investment vehicle with about 2~3%. What should I do?

Do you mean $1.4k savings per month? You might want to define what is your investment goal (for what purpose and time frame). To get 2-3% risk-free is not difficult. If you go for slighly riskier investment you could get slight more returns. For reference, below is the expect returns for the december tranche of the singapore savings bond (as provided on their website). This should be used as a baseline (riskfree return) to compare against any investment that you buy into (any other products should give a higher return for the corresponding investment holding period).

If your goal is like for retirement or u can plan for part of your savings for the purpose of retirement. CPF special account top up ( retirement sum topping up scheme) is actually an excellent tool to use. Guaranteed 4% interest rate. In additional u will receive tax relief for the topped up amount. Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively u have gotten 7% return on your money, in additional u will earn 4% interest yearly guaranteed. If you are earning $80k, will be in the 11.5% tax bracket, thus gaining a higher "savings". Yes, the drawback is that u cannot withdraw the money early. But this is what the purpose is for, retirement.

Do msg me on my facebook if u would like to learn more. Without knowing your current profile, it is also hard to provide advice appropriately.

You can use the Seedly calculator to do a comparison across the high interest bearing accounts, some popular options are SC jumpstart, DBS multiplier, OCBC 360. For a return of 2%-3%, you can consider bond funds with lower risks or stock ETFs if you are able to accept the higher risks associated.

If you are under the age of 26, you can create a standard chartered jumpstart account which gives 2% interest per annum. The next way would be to park it in Singapore savings bond which is one of the safest investment around.

Consider high interest savings accounts like CIMB FastSaver (no requirements) or others which may be high but requires certain criterias like DBS Multiplier & UOB One.

For investments, to add on to Kenneth's suggestions, you can also consider Singapore Robo-advisors and P2P

That's a very good amount to save each month! Very good start.

For savings accounts, it really depends on whether you have a regular salary, spend on cards etc or whether you just want a flat interest rate.

For no-frills savings account, the best one is with the CIMB Fastsaver at 1% p.a flat.

For a more complicated savings account, the best would be either the DBS Multiplier or OCBC 360 savings account. However, for these, you will need to hit salary crediting etc.

You can actually try out our savings account calculator which lets you input your savings, bank balances and spending there which will tell you which is the best accounts for you: https://seedly.sg/tools/savings-account-calculator

Your next question: Investment vehicles with 2-3%.

I would suggest considering either SSBs or the STI ETF or REITs

You can read more about these here:

SSB: https://blog.seedly.sg/guide-investing-singapore-savings-bond-ssb-interest-rate-how-to-buy/

STI ETF: https://blog.seedly.sg/how-to-sti-etf-a-simple-way-to-invest-in-singapores-top-30-companies/

REITs: https://blog.seedly.sg/working-adults-singapore-reits-investing/