From 1 Jul 2020, a few of the major banks in Singapore will be cutting the rates on their high-interest rates savings accounts.
If you want to put your money into Singapore Savings Bonds, the interest rates have fallen to a low of 0.3% for the first year and 0.80% if you hold it for 10 years.
The low-interest-rate environment comes on the back of the US Federal Reserve cutting its interest rates to near zero.
With bank interest rates dropping like grapes, you might be looking elsewhere with highly liquid money management accounts to store your emergency fund, investment war chest or simply a place to park your money to get some interest to fund an upcoming expense.
A few credible money management alternatives with high liquidity have emerged with Singlife launching the Singlife account, Stashaway launching StashAway Simple™, FSMOne launching