Anonymous
Hello, understand that the Seedly recommended financial management strategy is to create 3 accounts for savings, wealth and expenses respectively.
Background:
I am a 22 year old female, with 30k in a POSB kids account. Currently drawing a 2.8k salary (before CPF). No credit card yet, but looking to sign up for one as I am able to claim transport & food expenses from company, roughly $300 per month
Looking at DBS multiplier and OCBC 360 but I'm not sure which to open. Please advise! :)
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OCBC 360 is only good if you can hit the multiple requirements.
If you can't, I'd suggest the multiplier account. It's easier to get the 1.8% and up. You wouldn't need to change the account your salary is credited to either and only $1 needed from your credit spend monthly as long as you meet the monthly transaction requirements.
This is just my opinion as someone using the multiplier account.
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OCBC 360 is good if you are able to fulfil their requirements for bonus interest, plus IMO their iba...
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If you are thinking of making investment too and applying for a CC under DBS then you could consider multiplier.. If not, you can consider UOB one account