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Old 04-07-2020, 02:11 PM   #4
F1ngolf2012
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Join Date: Aug 2012
Posts: 958
Singapura Finance is offering their Vivid account, and itís roughly similar to SIFís GoSavers. Citibank still has their MaxiGain account, although itís not as good as it used to be. ICBC is offering their step up fixed deposits which arenít really locked like most fixed deposits are. HL Bank still has their iSavings account which is paying decent interest.

If youíre going to maintain a list like this Iíd somehow indicate which accounts are not SDIC protected.

You donít really choose any of these to avoid concentration risks. Iím not sure what you mean by that. Theyíre reasonably liquid or very liquid accounts for holding Singapore dollars, thatís all. These are Singapore dollars you need for day to day spending and/or for soon upcoming major expenses, such as a down payment on a home or a university tuition bill.
With massive wave of deposit interest rates reduction, I thought it would be helpful to have a list of Day2Day deposit accounts which still provide decent interest rates. That's why I did not include FDs.

Great point on the SDIC protected. As I know, all the options listed are protected by SDIC and can be used to avoid concentration risks like depositing all your funds in a single bank just because of miniscule rate difference.

I'm not familar with Singapore Finance, HL Bank and Citibank as I don't use them. Feel free to fine-tune the list.
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