Asked by Anonymous
Asked on 28 Sep 2018
We went to a few bank, they are suggesting put a portion for 6 to 12months FD the rest for longer tenor. Thank you.
Just FYI, if you donate the 100k in one lump sum, you won't necessarily "lose out" on the excess tax relief. Unutilised donations can be carried forward to offset future income, up to a maximum of 5 years.
But having said that, it's probably still better to spread out the donations than to do it in one shot, because you won't get your usual personal reliefs if the lump sum donation is sufficient to fully offset your annual income.
Top Contributor (Jan)
Singapore savings bond is the best you can get for the liquidity and interest rate
Cimb fastsaver for a flat 1% interest rate. Citibank's maxigain would work as well, as the base interest rate is 0.8% of 1 month sibor, bonus interest of 0.1% every month (max 1.2%) if balance is untouched