Asked on 07 Nov 2019
I have a FD of 50k that is due next year, should I renew it at the interest rate (usually about ~1.x%), or should I put (all or some of it) in my SA?
I have enough cash flow for the next 2 years, but I cannot see beyond that. I just want to have peace of mind that I would hit the minimum sum in my CPF in 20 years.
You need to have at least a plan to see past 2 years later. Because CPF SA is locked up way longer than 2 years.
If you are not sure, then go for fixed deposit until you are really sure you have no need for the money till you can withdraw from CPF.
It is a one way trip, so you need to see past the next 2 years of plan before committing