Anonymous

10 Jun 2019

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Which is your preferred savings bank account for kids (in terms of the best i/r) ?

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Clarence Chua

10 Jun 2019

Financial Planning Specialist at Prudential Assurance Singapore

If you are the bank account holder then it will be dependant on the savings amount.

If you are saving 70k you can go for Citi MaxiGain, its rather straight forward and offer an attractive interest rate.

UOB One on the other hand also offers up to 3.88% but they are tied with credit card spendings.

If not, you can go for a simpler no frills account such as CIMB Fast Saver which offers 1 to 1.5%. You just need to put the money there. Some like it cause they don’t need to use their time to maintain it.

If you are planning to use this to save for your kids education. I suggest that you look into other financial instruments for that. But if it is just general savings, go ahead.

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