Personal Finance
Why I Switched to DBS Multiplier Account
By My Sweet Retirement  •  December 25, 2017
OCBC 360 account used to be the best savings account in town giving you a maximum yield of 3.25% per year until they decided to revise their criteria on the interest rates. You can read more about it here OCBC 360 Account Makes Earning Additional Interest More and So Complicated. Other banks such as UOB has came up their own version of step up interest accounts using the similar concept and the idea is no longer fresh and new.
The clause “1% per year Earn this extra bonus on the first S$70,000 if your account balance is S$200,000 and above.” is a killer as I do not maintain an account balance of S$200,000 in my savings account. As a wise investor, if I had $200,000, I will invest part of it in stocks, REITs or bonds for higher return rather than to earn the petite additional ...
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.
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