SG Budget Babe
Standard Chartered JumpStart Account
Asked by Anonymous
Asked on 16 Dec 2019
Any comments on Standard chartered jumpstart account which offers 2% pa interest? Any better bank account to opt for?
It's great!! Only if you are below 26 though.. 2% pa on 20K.
Apart from that, you can consider DBS Mulipliter or UOB One. I am using both because UOB One do not need salary credit as a main criteria. So my salary is to DBS, and my spending is on my UOB card.
Yes, it's good although I can't apply for it ;)
If you're 26 or below, then I think it's good to stash 20k that offers 2% interest at no lock in and no condition.
Of course there are other banks like DBS Multiplier and UOB One accounts that would earn us higher interest rate, however those are mostly coupled with other criteria to fulfil. So if you like something that's fuss-free, then go for the SCB Jumpstart account.
If you spend less than $500 a month - this account is the best for you (treat it as an FD). If you have more than 20k put the balance in other high interest rates accounts.
If you can meet the min $500 spending then UOB one (it goes well with the card). Make sure you have around 50-75k though.
I think it's a good bank account to have. I would want to park some spare money there if I could. Personally I'm using UOB One for interest more than 2% though.
Its only good for the $20,000 savings. If you have more, go for
UOB One account
If you tie in any salary crediting and add on to credit card spending (the UOB one card or the OCBC 365 card), then the interest rate will jump to a higher rate
Yes if you are a fresh grad 26 and below with a decent starting pay and savings. A good bank account to park S$20,000 in. If you have more savings, can consider using the UOB One, OCBC 365 or DBS Multiplier bank accounts. Since you have a salary credit and could potentially earn a higher interest rate on your savings.
UOB one card or OCBC 360 accounts are better in my opnion (iif you are working).
This is because if you tie it in salary crediting and credit card spending, your interst rate is about 2% as well. For jumpstart, one disadvantage is if you are a 27 year old onwards, the account starts to have charges. This eats off from the promised 2% interested
17 Dec 2019
Top Contributor (Jan)
If you fulfil the eligibility requirement and has $20k free cashflow, then you should consider Standard Chartered JumpStart account. This is because you earn 2% per annum interest with no lock-in and related fees.
Personally I'm using UOB One as it gives better rates and benefits overall.
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