Interest rates have risen so much since the Federal Reserve started on their aggressive rate hike path, although off a low base. Before 2022, I’ve been so used to ultra-low interest rates on deposits that I didn’t even bother thinking about all the cash I had lying around earning close to nothing. Now, we are in a privileged position with so many options to earn a decent yield on our cash at low or even no risk. Here are some great options you can consider (sorted from highest to lowest yield):
| Product type | Bank/FI | Interest rate | Tenure | Min amount | Max amount | Last updated | Remarks |
| Savings account | SCB Bonus$aver | 4.88% | N/A | None | $100k | 1-Feb-2023 | Salary credit $3k + CC spend $2k + 3x bill payment |
| Fixed deposit | RHB | 4.10% | 12/24 months | $20k | None | 11-Feb-2023 | |
| Fixed deposit | OCBC | 4.08% | 8 months | $20k | None | 1-Feb-2023 | |
| Cash funds | MoneyOwl WiseSaver | 4.01% | NA | $10 | None | 1-Feb-2023 | 5 day MA as of 27 Jan 2023 |
| Treasury bill | MAS | 3.93% | 6 months | $1k | None | 17-Feb-2023 | Auction 16 Feb 2023 |
| Treasury bill | MAS | 3.87% | 1 year | $1k | None | 1-Feb-2023 | Auction 26 Jan 2023 |
| Fixed deposit | CIMB | 3.65% | 6 months | $10k | None | 11-Feb-2023 | |
| Savings account | GXS | 3.48% | N/A | None | $5k | 11-Feb-2023 | No minimum requirements, no lock-in |
| SSB | MAS | 2.90% | 10 years | $500 | $200k | 1-Feb-2023 | March 2023 issue |
Please share if you know other...
