We shouldn’t invest money we need in the short term because we might lose everything. But if we just keep it in the bank, it will lose value to inflation. In this video, I’ll share with you 5 places in Singapore where you can keep your money safely while earning some interest. Enjoy!
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0:00 – Intro
0:49 – SSB
Singapore Savings Bond is a savings bond by Singapore government. You just need to invest a minimum of $500 then you will be paid interest every 6 months. The longer you invest, the higher the interest will be. After 10 years, the bond will mature and the capital will be returned back to you. SSB has received the highest AAA rating from international credit rating agencies, so it’s very safe. For early withdrawal, you can just submit a request get your money back within 1 month.
SSB is good if you want to lock up your money for a very long time, like your retirement savings. And also because the longer you hold, the more interest you will get.
2:24 – High Interest Savings Account
Even though bank have reduced the savings interest rates, the rates are still quite decent. Seedly has compiled all the info for you so it’s easier to compare. Using a typical working adult data, right now, Maybank Save Up will give the best interest rate at 1.03%.
This method is good if you need a place to keep your emergency funds so that you can access them immediately.
3:50 – RoboAdvisor
For higher interest, you can consider using Roboadvisors’ cash portfolio. They will give you 1% to 2% with very little chance of losing your money. That’s because these cash portfolios invest in very safe money market, cash and short duration bond funds.
The 3 RoboAdvisors are Stashaway Simple (1.2% interest), Syfe Cash+ (1.5% interest), and Endowus Cash Smart, which give anywhere between 0.8% to 2% depending on the portfolio you choose.
If you need the money, the withdrawal will take anywhere from 2 business days to 6 business days depending on the roboadvisors.
This method is good for money that you don’t need to use immediately, but need in the short term, like your wedding money or house downpayment.
6:15 – Bond ETFs
Bonds has always been a safe haven when times are bad, their dividends are more or less guaranteed and are much more stable than stocks or cryptos. Bonds ETFs are also much more accessible than normal bonds, you can just buy them in any low cost brokerages like Tiger Brokers or Moomoo.
ABF Singapore Bond Index Fund, or A35, has an expense ratio of 0.25%, and yield of 2.05%. It tracks bonds from Singapore government and Singapore government linked entities.
Nikko AM SGD Investment Grade Corporate Bond ETF, or MBH, has an expense ratio of 0.25%, yield of 2.74%. It tracks bonds from established and credible institutions like sovereign wealth funds, banks, insurance companies, reits and others.
The downside to bond etfs is that dividends are only paid once a year. So this method is good if you don’t plan to touch the money anytime within 1 year. Another reason is the prices will fluctuate a little, so the longer you hold, the lesser risk you will have.
8:12 – Cryptos
You can buy stablecoins like USDC or BUSD, then transfer to BlockFI to earn 8.6% interest.
Or Hodlnaut to earn 10.5% interest
The risk is that the SGD USD currency pair will fluctuate a little, so there’s a chance you might lose a bit of money when converting back to SGD. Another risk is that these exchanges might get hacked and they might be unable to return you all your cryptos.
Withdrawal from exchanges takes 1-2 business days.
You should use this method is you want a very high interest and is ok with a bit of risk. I wouldn’t recommend you to keep all your money here, maybe just the amount that you are comfortable with losing.