What's the best place to keep $35k for 6 months and earn some interest? - Seedly

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Asked by Anonymous

Asked on 27 Jul 2019

What's the best place to keep $35k for 6 months and earn some interest?

I have about 35k which I need to hold on to for about 6 months, and I thought I could at least earn a bit of interest on it for a while. I would prefer to separate this amount from my own DBS Multiplier account. Which would be my best option? CIMB or some fixed deposit?

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CIMB currently offers the highest no strings attached savings account at 1%. However if you are very certain that you will have no need for the money before 6 months, consider a fixed deposit. CIMB rates for FDs are also competitive.

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Most fixed deposit is longer than 6 months as far as I know.

It may be best to put them into a high yield savings account such as your multiplier account. You can put them in CIMB too, the returns in absolute dollars will be marginal since its 6 months only.

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峻豪
峻豪
Level 1. Freshie
Answered 4w ago

If you need to take some out, then consider CIMB FastSaver, if not you can consider fixed deposit like CIMB 1.7% or Sing Finance 1.8%

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