Should I credit my emergency fund to CIMB FastSaver or OCBC360 account? - Seedly
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Anonymous

Asked on 25 May 2019

Should I credit my emergency fund to CIMB FastSaver or OCBC360 account?

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Personally I use CIMB as it is hassle free.

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If you are already fulfilling your OCBC criterias and not yet exceed your $75,000 limit cap, why not just put it in OCBC.

However, if you have already exceeded the maximum limit for your 360, the Fast Saver would be hassle free.

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Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 26 May 2019

I recommend the Citibank's Maxigain savings account - no frills, no salary credit, no minimum spend.

Your Citi MaxiGain account balance can earn a base and bonus interest rate of up to 2.2% interest per annum, up to the first S$150k I believe.

I use Citibank Maxigain for my savings, followed by Standard Chartered. For the rest of it, I then put it into CIMB Fastsaver.

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Yang Teng
Yang Teng
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 26 May 2019

Since you will not be touching the money there, CIMB's FastSaver will offer higher interest rate. Also, the few number of CIMB branches in SG makes it harder for you to touch the money unless it's an emergency,

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