“My savings account sucks!”
Ever wonder which is the best savings account in Singapore?
If you are still holding on to your POSB Kids Account, do note that the difference for a $10,000 savings can amount to a return flight to Iceland in 10 years time.
Long story short, 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.
(Updated 1 January 2019 to reflect the all the new savings accounts in the market)
TL;DR: Comparison of Best Savings Account in Singapore
For better analysis, we made an assumption on a typical working adult in Singapore:
Has more than $2,000 credited salary into his savings account after all his CPF contribution Spends a minimum of $600 a month on a credit card (Daily expenses e.g F&B, Online) His bank account balance