Singlife Account Review (and Referral / Promo Code) – 2.5% interest risk free for your excess cash!
By Financial Horse • August 12, 2020
A lot of readers have been asking about the best place to park excess cash right now.
Bank interest rates (or Singapore Savings Bonds) are absolutely horrible these days.
Just take a look at the latest August Singapore Savings Bonds rates:
EAR FROM ISSUE DATE
1
2
3
4
5
6
7
8
9
10
Interest,%
0.27%
0.35%
0.49%
0.64%
0.81%
0.99%
1.19%
1.39%
1.58%
1.76%
Average p.a. return, %**
0.27%
0.31%
0.37%
0.44%
0.51%
0.59%
0.67%
0.76%
0.85%
0.93%
0.27% for 1 year! What a disaster.
Long story short, we are in a low yield environment, and this isn’t likely to change for a few years.
So for excess cash that we have lying around, it pays to start exploring more creative, higher yielding accounts to park that cash.
I came across Singlife Account recently, and I had a very good experience with it, so I wanted to share this review with you guys....
