Best saving account?

[jayz89]

Hi All,

As per title, which saving account would you recommend if I just want to put the money in without any withdrawal from that account.

Currently i am only on the posb everyday saving. Open long ago by my parents. Now old liao need to explore myself

Thanks in advance

 

[vegavega25]

Hi All,

As per title, which saving account would you recommend if I just want to put the money in without any withdrawal from that account.

Currently i am only on the posb everyday saving. Open long ago by my parents. Now old liao need to explore myself

Thanks in advance

Completely hassle free with 1% interest: CIMB FastSaver

If your salary can be deposited to (new or existing) POSB/DBS accounts, and you have a DBS/POSB credit card, check out DBS Multiplier. Best to go through their website to understand how it works.

 

[shpesft]

Hi All,

As per title, which saving account would you recommend if I just want to put the money in without any withdrawal from that account.

Currently i am only on the posb everyday saving. Open long ago by my parents. Now old liao need to explore myself

Thanks in advance

Another option: Citibank Maxigain Account

Higher interest than CIMB FastSaver especially if you don't intend to take the money out for short-term use

 

[XtraderX]

Yes i guess these two are the best..

i put $15k in Citibank Maxi and forget about it
then put extras in CIMB Fastsaver

DBS and OCBC account for ATM uses.

 

[shpesft]

Yes i guess these two are the best..

i put $15k in Citibank Maxi and forget about it
then put extras in CIMB Fastsaver

DBS and OCBC account for ATM uses.

The other option, which is a little more hassle, is to alternate the saving deposits between accounts which give promotional interest every few months, i.e. Maybank iSavvy account, Standard Chartered eSaver account etc.

Higher interest is for new funds and for different months so must look at the T&C carefully for these accounts. Transfer in for months with promotional rates, then out to another account once the promotional rates end and those for other accounts start.

 

[tiertime]

Hi All,

As per title, which saving account would you recommend if I just want to put the money in without any withdrawal from that account.

Currently i am only on the posb everyday saving. Open long ago by my parents. Now old liao need to explore myself

Thanks in advance

depends on how much your first deposit is and r u going to use the banks credit cards for monthly expenses, i think there's one by POSB giving 4% if ur below 30 years old

 

[TabascoSauce]

depends on how much your first deposit is and r u going to use the banks credit cards for monthly expenses, i think there's one by POSB giving 4% if ur below 30 years old

Promotion over

 

[TabascoSauce]

Citibank maxigain + DBS multiplier.

Dbs for crediting salary and debit/credit card spend
Citibank for Long term untouch savings

optional: + Ocbc acc for wide network of ATMs and short queue

 

[jayz89]

Thanks all for the recommendation.

I will look into citibank maxigain.

I could put in $10000 to 15000 for the intial deposit.
But I dont use credit card much.
Salary can be credited in.

I see alot of the requirements need to spend xxx per month to unlock the bonus tier and so on. I could but I just dont hv much to spend on tbh. Lol

 

[revhappy]

SCB bonus saver promotion, initial investment 10k, you will get $88 Tangs voucher. After that you can get 1.25% if you credit salary and pay 3 bills.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[Trazora]

Thanks all for the recommendation.

I will look into citibank maxigain.

I could put in $10000 to 15000 for the intial deposit.
But I dont use credit card much.
Salary can be credited in.

I see alot of the requirements need to spend xxx per month to unlock the bonus tier and so on. I could but I just dont hv much to spend on tbh. Lol

1) need min $15,000 in maxigain to avoid fall below fee.

2) it is quite easy to clock salary crediting+2 other categories of transactions with DBS to earn 2%-3.5% interest on DBS multiplier https://www.dbs.com.sg/personal/landing/dbs-multiplier/

 

[Byfrost]

Thanks all for the recommendation.

I will look into citibank maxigain.

I could put in $10000 to 15000 for the intial deposit.
But I dont use credit card much.
Salary can be credited in.

I see alot of the requirements need to spend xxx per month to unlock the bonus tier and so on. I could but I just dont hv much to spend on tbh. Lol

OCBC 360 Account. Go for Salary ($2,000 monthly) requirement = 1.2%. Higher than CIMB Fastsaver. You do not need to care about the other requirement. On the plus side, the 1.2% is constant, unlike other accounts like Standard Chartered eSaver with "reference month" which requires to keep shifting your money.

"Lock" your money up by using the savings jar feature if you are afraid to overspend.

 

[zumaba]

BOC SmartSave + HSBC Advance + Citibank Maxigain

 

[Mr. Wood]

Completely hassle free with 1% interest: CIMB FastSaver

If your salary can be deposited to (new or existing) POSB/DBS accounts, and you have a DBS/POSB credit card, check out DBS Multiplier. Best to go through their website to understand how it works.

I have this.
watch the monthly interest credits very song.

put in the 3 big banks one still must meet simi criteria and with pathetic interests rates.

 

[TabascoSauce]

OCBC 360 Account. Go for Salary ($2,000 monthly) requirement = 1.2%. Higher than CIMB Fastsaver. You do not need to care about the other requirement. On the plus side, the 1.2% is constant, unlike other accounts like Standard Chartered eSaver with "reference month" which requires to keep shifting your money.

"Lock" your money up by using the savings jar feature if you are afraid to overspend.

dbs multiplier still better.

as long as u credit 2k salary or more, u can easily hit more than 1.55% with $1 credit card spend. that is almost hassle free for most ppl.

 

[SBC]

Collecting about $200 each month from OCBC 360 & UOB 1.

Also another $30 plus from POSB Bonus Cashback.

 

[jayz89]

For the cimb fastsaver

Meaning i can just put 5000 or 10000 then just earn the 1%pa?

The DBS Multiplier seems not bad

Something like 5k in cimb
The rest go DBS Multiplier

Will this work ?

 

[Trazora]

For the cimb fastsaver

Meaning i can just put 5000 or 10000 then just earn the 1%pa?

The DBS Multiplier seems not bad

Something like 5k in cimb
The rest go DBS Multiplier

Will this work ?

May as well put everything in DBS multiplier unless you will max out the $50k deposit?

 

[lzydata]

For the cimb fastsaver

Meaning i can just put 5000 or 10000 then just earn the 1%pa?

Yes, provided there is at least $1k in the account - minimum initial deposit and minimum amount to earn interest.

 

[ExtremeWays]

May as well put everything in DBS multiplier unless you will max out the $50k deposit?

All these higher interest accounts are there to entice people to spend more money.

Rather save the money and spend less than to get meagre interests