I started chasing for yield when I was as young as 16. CIMB FastSaver was the most popular no frill savings account recommended by many. I was happily earning my extra cai png money every month for years until Standard Chartered introduced the Jumpstart account in 2019, offering 2% for the first $20k. Low interest rate environment has been tough for many savers like us, it was only recently did Standard Chartered Bank reduce the interest rate of Jumpstart account for the first $20k to 1%.
Forget about ordinary savings accounts by banks, I had to look elsewhere to earn interest on my excessive cash. Insurance Savings plans gained popularity in recent months due to the fact that it provides a higher interest rate compared to ordinary savings accounts. This inspired me to write an article about the Best Savings Product in Singapore and has been a hit since it was...