Personal Finance
Best Savings Products in Singapore (Updated November 2020)
By Frugal Youth Invests  •  November 21, 2020

Just this year, The Federal Reserve made the bold move of slashing interest rates by 150 basis points in two weeks to combat the impact of the pandemic to the economy. Even though lower rates are supposed to be beneficial to the economy, banks’ net interest margin have been pressured and resulted in cutting of interest rates in hopes of saving its own NIM. Savers are at the mercy of the banks when it comes to interest rates.  Recently, several savings products popped up to meet the needs of high yield savers.

In this article, we will discuss the feasibility in using such products as an alternative to your usual savings account.

High Yield Savings Account 

Be it DBS Multiplier, OCBC 360, UOB One or Standard Chartered’s Bonus$aver. You have chosen your high yield savings account because it meets your daily needs.

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By Frugal Youth Invests
I am a final year polytechnic student at Singapore Polytechnic and awaiting for my enlistment in 2019. I started investing when I was 18 years old. 1 January 2018 was the day when everyone celebrates the start of a new year but it was also the day when I applied for a brokerage account to embark the investment journey to retire early ...
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