What is the best savings account for someone who’s in between jobs?

Hey Crystal! You can also consider the newer 'endowment savings' options.

For example the SingLife account is offering 2.5% interest p.a on their accounts and it acts liike a normal savings account with a debit card which allows you to transact as well.

Quite an interesting concept, worth a check out!

Other than that, what Zhe Liang and hariz shared makes sense. It's either the traditional savings account or no-frills ones like the SCB JumpStart or the CIMB FastSaver.

So long as you earn a decent salary in between jobs, then either of the higher yield salary bank accounts work. E.g. DBS Multiplier, UOB One, OCBC 360.

Otherwise, if you are between 18 to 26 years old, then you should consider Standard Chartered JumpStart account. This is because it gives an interest rate of 2% per annum for your first $20k balance. Furthermore, there is no fees and minimum balance required in order to maintain the account.

Moreover, it comes with a debit card that gives you 1% cashback on eligible spending. With this in mind, it is certainly a worthy account for a start.

Alternatively, you may consider CIMB FastSaver. This is because it gives an interest rate of 1% per annum for the first $50k account balance. In like manner, there is no monthly fee associated with maintaining the account. Hence, it is worth taking a look as well.

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