Obviously, with the Lunar New Year upon us, you would have received your fair share of red packets this year, which begs the all-important question – How can we maximise it?

 

We’ll go through some diverse suggestions for your consideration! After all, any extra income is always welcomed.

TL;DR: Maximising your Lunar New Year Ang Paos

Mainly, this article will be highlighting the following investment alternatives:

Fixed deposits Singapore Savings Bond Investments Tax relief via donations to registered charities Personal Accident Plan Insurance

Imagine the distance your annual CNY Ang Baos could go if we were to explore these alternatives instead of the usual wholesale spending, gambling or ordinary bank deposits.

Fixed Deposits

Fixed deposits need no introduction. Offering better interest rates than most savings accounts, you can start with