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Hi
May I ask where to you all place your:
A) contingency fund
B) opportunity fund
Currently I leave everything in CIMB Star account, which gives 0.8% p.a.(0.9% if you had open the account with time long time ago). It is liquid and little risk. But I am thinking it is not the most efficient use of fund esp fund for (B) above. Tks.
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22-09-2012, 10:34 PM
(This post was last modified: 22-09-2012, 10:34 PM by freedom.)
since they are contingency/opportunity fund, return should not be what you are after. and the difference won't be too much, unless you really care about the 0.1% more return.
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Both contingency and opportunity funds are parked in CIMB Starsaver earning 0.8% per annum.
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would a offshore banking account make sense? in case of political uncertainty in SG and you need to flee the country. u never know when something like that could happen.
You can count on the greed of man for the next recession to happen.
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1. (Cash) RHB Trio Account (convenient location beside a favourite coffeeshop stall of mine).
2. (Cash equivalent) Nikko AM Shenton Short Term Bond Fund.
3. (Cash equivalent) UOB United SGD Fund.
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what is rhb trio account?
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Deposit Amount Interest Rates
First S$5,000 0.48% p.a.
Next S$45,000 0.58% p.a.
Next S$100,000 0.68% p.a.
Next S$350,000 0.78% p.a.
Minimum of $2,000 balance (if I remember correctly). Free cheques.
As pointed out by posters in this thread, CIMB Starsaver is better as it gives 0.8% with a minimum monthly increment of $500. Minimum balance must be $5,000. I went with RHB for a whimsical reason. I had to visit a branch to open an account. There was a branch next door to my favourite coffeeshop stall in the east. CIMB is located at Orchard (hardly visit this place) and Raffles (I work in the west).
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