Where do you keep your emergency fund?

[yellownova]

I have my emergency fund in a fixed deposit account - but now I'm wondering if there is a better instrument to keep it in and still able to take out any time I need to.

 

[JialatThisOne]

I put in Elastiq it works like a fixed deposit for 3 months, but you can withdraw anytime after

Rates are locked and fixed based on your first deposit, and currently quite high at 1.8%

Pm me for referral code to get some rebates and I can share more experience

 

[cassowary18]

DBS Multiplier and Singlife

 

[SBC]

Mine is OCBC 360 & UOB One.

 

[DOINK1]

SSB,DBS multiplier and Singlife

 

[jack-320]

OCBC 360

Earn interest while earning salary

 

[Thoreldan]

My 6 mths expenses in ocbc 360
Another 10k in singlife

 

[tutonic]

There's Stashaway Simple. Returns slightly lower than fixed deposits (approx 1.9% advertised by them), but you can withdraw whenever you want. Only takes 2 business days for the money to arrive in your account, if I recall correctly.

 

[iceblendedchoc]

200k in SSB. Me and wife

 

[TehSi99]

Milo tin...

 

[alexie8113]

DBS Multiplier and SSB

 

[testingabc]

There's Stashaway Simple. Returns slightly lower than fixed deposits (approx 1.9% advertised by them), but you can withdraw whenever you want. Only takes 2 business days for the money to arrive in your account, if I recall correctly.

this looks good actually on current market, anyone who use it can feedback? If everything drops will consider this, but less than 75K of course~

 

[beautyseek]

I put in Elastiq it works like a fixed deposit for 3 months, but you can withdraw anytime after

Rates are locked and fixed based on your first deposit, and currently quite high at 1.8%

Pm me for referral code to get some rebates and I can share more experience

To add, if you withdraw and put back in, your new funds will be at the then prevailing rates. The guaranteed rates only for the initial amount.

 

[luvpraline]

To add, if you withdraw and put back in, your new funds will be at the then prevailing rates. The guaranteed rates only for the initial amount.

Correct. But you can check the prevailing rate online at the start of every month and pull out funds after 3 months if there're better rates elsewhere. So far the prevailing rate has remained at 1.8%. If you are concerned about falling rates, you can always put in a higher amount at the start like I did. Then 1.8% is guaranteed for 3 years.

Can PM me for Elastiq referral code

 

[oceanicmanta]

Correct. But you can check the prevailing rate online at the start of every month and pull out funds after 3 months if there're better rates elsewhere. So far the prevailing rate has remained at 1.8%. If you are concerned about falling rates, you can always put in a higher amount at the start like I did. Then 1.8% is guaranteed for 3 years.

Can PM me for Elastiq referral code

does new funds top up also need to keep a further 90 days before penalty-free withdrawal is allowed ?

 

[Utonian]

does new funds top up also need to keep a further 90 days before penalty-free withdrawal is allowed ?

Not that i am aware, seems the restriction is on the account not at the funds level.

I have used the account to do musical chair and have never met any withdrawal restriction on funds

 

[luvpraline]

does new funds top up also need to keep a further 90 days before penalty-free withdrawal is allowed ?

I posed this same question to Etiqa before. The 90 day period applies to the initial policy inception date only. E.g. let's say if u do a top up on day 60, u can withdraw the top up amount after another 30 days.

The only issue I have is that for topping up, you need to have a DBS/POSB Bank Account. I guess most people have one since young, but i closed mine. One easy solution is to open a DBS My Account that has no fall below fee.