As most of you are aware, with the current battered economy situation, banks over the world are reducing the interest rates for their savings/fixed deposits accounts and Singapore is not spared. So, if you are keeping your emergency funds with banks (which most of us did, I believed), it's time to source for the alternative(s). I've heard of Singlife Account for quite awhile but only have time to dig in further late last month (Jul 2020). Upon more in-depth research, I've made a decision to deploy part of me Emergency Fund ($10K) from my usual DBS Multiplier Account to Singlife Account. Here are the reason why:

1. Higher Interest Rate (up to 2.5% for the first $10K)

So far, I only managed to clock-in maximum of 1.8% interest via my DBS Multiplier Account, hence's it's a no brainer to transfer part of it to earn an additional 0.7% of interest at no extra cost....