By: PanzerGrenadier
Interest rates are low hovering around 1.5% or less for shorter tenures as can be seen here in my previous post on Singapore banks and fixed deposits interest rates for the last 2 years.
There is nothing much we can do...unless
In reality, for most savers, there is very little you can do if you are not willing to accept more risk for the possibility of greater returns. If you do not have the time, inclination and more importantly the interest to learn about other investments such as stocks and shares, property, unit trusts (mutual funds) etc, then it will be difficult to get a better return than what banks and finance companies can give you for a relatively risk free investment (especially your first $20,000 deposit that is covered under the deposit insurance scheme in Singapore).
If you are happy in your job, do not want to worry or take on the REAL POSSIBILITY of your investments going -20% (or +20%) or even -50% (or +50%) which CAN HAPPEN for stocks and shares, then you should just look at strategies to lock in higher interest rates and learn about treasury bills which can move higher than fixed deposits in terms of interest returns.
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