What bank accounts do you have and why? - Seedly
 

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SG Budget Babe

Asked by Anonymous

Asked on 11 Aug 2018

What bank accounts do you have and why?

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 05 Dec 2019

In terms of priority,

  1. Citibank Maxigain - I max this one out first for the high i/r,

  2. Standard Chartered

  3. CIMB for the rest

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Dawn Fiona
Dawn Fiona
Level 7. Grand Master
Answered on 14 Aug 2018

High yield saving accounts :) I've written about them and the ones I got on my blog!

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Dawn Fiona
Dawn Fiona

06 Dec 2019

Hi Huiru! I don't see any extra interest for the BYOB account past 25 months, so I would switch to whichever is higher now, such as DBS Multiplier if you can hit the qualifying criteria! See how to hack the DBS Multiplier account here: https://www.sgbudgetbabe.com/2019/05/the-2019-dbs-multiplier-account-yay.html
Huiru Chang
Huiru Chang

12 Dec 2019

Thank You! :)
Eveline Lau
Eveline Lau
Level 6. Master
Answered on 06 Dec 2019

I'm using the high-interest yielding saving accounts! At least I don't get bitten by inflation every single day.

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Choon Yuan Chan
Choon Yuan Chan
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 06 Dec 2019

I use OCBC 360 account for the high yielding interest it gives for salary crediting

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I have two bank accounts and this is because of the way I do my budget to ensure high savings ratio every mine. Here is some information about it: https://www.blog.pzl.sg/how-to-create-a-monthly-budget/

For salary account, I use UOB One. The terms are relatively straightforward to reach the higher tier interest rate.

For expense account, I use an e-statement account with DBS.

Here is everything about me and what I do best.

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Isabel Wong
Isabel Wong
Level 6. Master
Answered on 05 Dec 2019

1) DBS multiplier - salary crediting

2) SCB jumpstart

3) CIMB Fastsaver - joint account with parents to credit their allowance

I'm planning to open a UOB one account soon!

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Adelyn K
Adelyn K
Level 5. Genius
Answered on 05 Dec 2019
  1. DBS Multiplier (for salary crediting)

  2. CIMB Fastsaver - this acts as my warchest. :)

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VC
Vicki Chng
Level 6. Master
Answered on 05 Dec 2019
  1. OCBC 365 - Salary crediting account

  2. UOB ONE - joint acct with my partner

  3. SC bonussaver - this was opened super long ago so I just continued using it

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Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 05 Dec 2019

I have 3 main ones -

  • UOB One

  • DBS Multiplier (for salary crediting)

  • HSBC Advance account

Reasons are to gain maximum interest (that I possibly could) for the first 2. HSBC advance account so that I could up my interest earned on my HSBC adv card by 1% more. ​​​

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