Beating inflation is not as difficult as it sounds if you understand some of the investment products available.
The core inflation in Singapore is at 1.9% (average for the past 10 years), but banks are giving out interest for as low as 0.05% for your deposits and savings.
So here’s the deal…
Most of our parents or Singaporeans would have received a phone call from their banks to be recommended a fixed deposit should there be a substantial amount of savings.
While bank offers you
liquidity for your deposit at a lower interest rate or you can choose to let go of liquidity for higher interest rate
Given that the first option with a lower interest rate …