bank recommendation pls

[Mephist0pheLes]

Hi all,

has been a really long time since i last reviewed my finances and tot i sld take a look at is again as the year end approaches.

In the past i've picked up a few bank accounts due to the attractive interest rate, but interest is now really low and most of the saving accounts are getting really complicated with convoluted requirements to earn interest. As such i've decided to consolidate all my cash savings into one bank.

have about 250k cash in total. which bank would you recommend?

TIA.

 

[reddevil0728]

Hi all,

has been a really long time since i last reviewed my fiances and tot i sld take a look at is again as the year end approaches.

In the past i've picked up a few bank accounts due to the attractive interest rate, but interest is now really low and most of the saving accounts are getting really complicated with convoluted requirements to earn interest. As such i've decided to consolidate all my cash savings into one bank.

have about 250k cash in total. which bank would you recommend?

TIA.

you mean finances rather than fiances right. means very different thing.

check out dbs multiplier lor.

 

[Mephist0pheLes]

you mean finances rather than fiances right. means very different thing.

check out dbs multiplier lor.

thanks for the suggestion and spotting the typo lol

 

[reddevil0728]

Just my observation here.

Cash rich asset poor or H-E-N-R-Y.
-OCBC
-SCB

Cash poor asset rich.
-DBS

What’s HENRY?

 

[streetfighter]

You just want to put in FD?

Hi all,

has been a really long time since i last reviewed my finances and tot i sld take a look at is again as the year end approaches.

In the past i've picked up a few bank accounts due to the attractive interest rate, but interest is now really low and most of the saving accounts are getting really complicated with convoluted requirements to earn interest. As such i've decided to consolidate all my cash savings into one bank.

have about 250k cash in total. which bank would you recommend?

TIA.

 

[pchan2018]

when im looking for a bank with interest rates and products being offered are equal. I also consider the following

* User access - how many ways can i access my money? how easy it is to get access to it? Often some banks are like mushrooms that have ATMs even near HDB void decks. I would choose those..

* stability - other than financial stability which often we may not have full information on. Sometimes system stability is also something to consider. That is how many times they are going offline. Can you use their ATMs or internet banking when you need them? You dont want to be caught in your first date dinner and you found out your credit card doesnt work as they are offline.

* interconnectivity - some banks have a number of interfaces to other payment partners or organization that transacting between them is a breeze.. Depending on which organizations you often deal with, check it out with the bank in your mind if they have interfaces with them.

 

[cassowary18]

With $200K, you can get priority banking with Standard Chartered. This gives you no minimum commissions trading for many markets, which might be valuable if you are a stock trader, or even for your investments.

 

[Mephist0pheLes]

many thanks for the suggestions and pointers

You just want to put in FD?

i was thinking of saving accounts, but im open to FD if you have any recommendations

With $200K, you can get priority banking with Standard Chartered. This gives you no minimum commissions trading for many markets, which might be valuable if you are a stock trader, or even for your investments.

dosnt trade much these days but thanks

 

[yoongf]

CPF account balances of self and spouse healthy?

 

[BBCWatcher]

CPF account balances of self and spouse healthy?

Good point. $250K is usually a lot of cash to drag. If you’re working up to a down payment on a home or 4 years of Ivy League university bills (either coming fairly soon), OK, fair enough, but otherwise why $250K in low interest earning cash?

 

[Value.Matrix]

Hi all,

has been a really long time since i last reviewed my finances and tot i sld take a look at is again as the year end approaches.

In the past i've picked up a few bank accounts due to the attractive interest rate, but interest is now really low and most of the saving accounts are getting really complicated with convoluted requirements to earn interest. As such i've decided to consolidate all my cash savings into one bank.

have about 250k cash in total. which bank would you recommend?

TIA.

Traded Endowments but may not be as attractive due to the lower liquidity