“My savings account suck, What are the better options”
This article was written for the typical working adult with a few years in the workforce and now looking to re-consider if he/she is on the correct savings accounts.
A Typical Working Adult Scenario Earn more than $2k, credited salary to account Spend a min. $600 a month on a credit card (for paying bills and daily expenses e.g F&B, Online) Account balance varies accordingly from 10k to 80k (we will elaborate more in the chart below) Not paying for home via bank loan (relying on CPF payments)
For completeness sake, we are going to compare the 4 main popular savings accounts in Singapore which are commonly applied based on the salary and spending above. We are NOT comparing the promotional deals for accounts that are usually for a shorter term.
Editor’s note: We do not get any commissions from any of these …