Changing Savings Account

[hlw8888]

right now, i am on citibank step-up savings acct. i am planning to split up and put into dbs multiplier acct and citibank maxigain acct respectively.

dbs multiplier acct - main salary acct
citibank maxigain acct - put money inside each month to earn abit more interest

as i only earn ard 2.5k and can't clock $400/500 card spending each month, i think these 2 accts like suit me best.

anyone can advice if this is a sensible move? or i shld stay on with step-up savings acct? thks in advance.

 

[Buzy_bee]

I think u should ditch the step up savings account since it doesn't reward you for salary crediting. If you have spare S$15k,u can put some into citibank Maxigain to earn the step up.

Then build your emergency fund in dbs Multiplier which rewards you for salary crediting. Also, once you transfer money into Maxigain, hard to withdraw without sacrificing your counter.

 

[hlw8888]

I think u should ditch the step up savings account since it doesn't reward you for salary crediting. If you have spare S$15k,u can put some into citibank Maxigain to earn the step up.

Then build your emergency fund in dbs Multiplier which rewards you for salary crediting. Also, once you transfer money into Maxigain, hard to withdraw without sacrificing your counter.

thks for the advice.

other than maxigain, got any similar acct than earn interest w/o credit salary inside?

 

[blue_denim24]

thks for the advice.

other than maxigain, got any similar acct than earn interest w/o credit salary inside?

CIMB fast saver is also a no frills account . You earn 1 percent interest right from the first dollar.

UOB one would also fetch you good interest provided you have 3 GIRO payments per month

 

[hlw8888]

CIMB fast saver is also a no frills account . You earn 1 percent interest right from the first dollar.

UOB one would also fetch you good interest provided you have 3 GIRO payments per month

thks for the suggestion.

the CIMB one looks not bad and easy to apply.