Wednesday 8th Feb 2012 03:09 PM
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Qotion.com is a website for you to browse and discuss financial products. Currently, we are undergoing further development, and hope to serve you when we relaunch the site with new features.
Wed, 12/02/2009 - 17:14
Cast Your Vote:
Most people realize that saving money in a bank savings account is not exactly the best way to save when there are more attractive options. There are other ways to earn better returns while keeping your money safe e.g. capital-guaranteed funds, treasury bonds and fixed deposits etc. Out of all these products, do you think Singapore fixed deposits are the best for saving your money? Why and why not? Share your views here!
Check out Qotion's take on the SRS in the latest issue of our newsletter!
http://www.qotion.com/enewsletters/03dec09.html
No! there are some other investment bank which can give comparable interest rate but without the lock in period.
No. It is not the best way to save money and grow your money through Singapore fd. But it is one of the best place to park your money there temporary. Each bank guarantees only $20k for each a/c, back by government until 2010 or something.
Interest rates have been low for quite some years. That's the very reason why many people have been lead by bank staff to invest into other products, promising a much higher return, e.g. lehman brothers, mini bonds, etc. and you know what happened after that....
I put some of my money in fd becos 1) I have no immediate use of the cash. Altough fd interest rate is pathetic, but it still beats the savings a/c interest. somehow. It is still better than to anyhow invest and end up losing your capital. 2) It may not be very safe to leave too much money in savings a/c becos I make online payment through this a/c; I mean one fine day some clever guys might steal banking info....
3) I also put some money in money market funds; it also generates some interest.