As wealth builders, one of the common actions we engage in is to find an idea high yielding account which are low risk to park our money which we needed very soon.
In a low interest environment it is difficult to find a good place to park our money with decent interest rates.
Thus there is a rise of the hybrid hurdle high yield savings accounts. These are bank accounts that gives you higher interest, provided you do a few hurdles.
The more popular accounts currently are:
- UOB ONE Account, which can reach 2.48% interest on your $50,000
- OCBC 360 Account, which can reach 3.25% or 2.25% interest on your $60,000
A previous post compares the two accounts and evaluates whether you should switch from the OCBC 360 to the UOB ONE account. You can read it here.
There is a land grab for your cash taking …