I would say either of the following. 1. CIMB FastSaver (1% interest for standalone accounts of parents) 2. Leverage on high interest savings accounts of the working siblings, where the first $75,000 (DBS Multiplier), $35,000 (OCBC 360, basic higher tier interest), earns potentially 1.55% (DBS Multiplier) and 1.25% (OCBC 360). This can be done with Salary crediting and minimal credit card spending ($1 on DBS Cards with DBS Multiplier account). Parent can be paid with the extra interest amount from this account, on top of the monthly allowance of $1,400. Note : A fixed sum of $10,000 has to be placed in these higher interest rate savings account, in order for the interest rate to work effectively.