facebookWhere to park $50K spare cash? - Seedly

Anonymous

18 Apr 2019

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Where to park $50K spare cash?

Which high interest no frills (eg salary credit...)saving ac should I get if I am thinking of parking $50K? Was thinking of Citi maxi gain (just put and forget). Anyone currently using it? Some would say park in ssb but may not be allocated all $50K if apply right?

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You can choose to park money in SSB, Fixed Deposits, bonds, or a high interest savings account :)

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You can read up on this article by Seedly to know how to park your money with SSB: https://blog.seedly.sg/guide-investing-singapor...

Jason Sing

15 Sep 2018

School Of Hard Knocks And Life at School Of Hard Knocks And Life

CIMB FastSaver. Earn 1% interest.

Jay Liu

15 Sep 2018

Accounting and Finance at ACCA

Park in CIMB fastsaver. Interest transfer it to another account. You can consider maxigain too. For SSBs part, you can apply 5k for every months issue till you used up all 50k(around 10months) and if you have some more spare, invest in that another 2 months. So you can have double coupon repayment every month. Some may say 6 months will be enough for every month to have coupon repayments. But if you have more spare cash, why not. And since now SSBs are oversubscribed so the allocation are pretty less one can get per months issue.

I'm been using maxi gain since last October and I just leave my funds there untouched to earn the bonus interest. If you are gonna set up salary crediting into this account, it may not be a good idea as you need to ensure that the lowest balance in current month is equal or higher than lowest balance in previous month..

HC Tang

15 Sep 2018

Financial Enthusiast, Budgeting at The Society

CIMB FastSaver 1% p.a without conditiona and just nice up to 50k
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