Asked by Anonymous
Asked on 27 Jul 2019
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?
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.
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.