How am I doing? - Help yourself and everyone else series.

[Musicwhiz]

I guess I will leave it in the bank and earn interest then (and be subjected to the risk that the bank will collapse )

Hi Miantuan,

You could try Maybank's iSavvy account (which I am currently using). It pays 0.4% per annum on balances >S$50,000; otherwise I think it's 0.125%. Good thing is there is also 6% interest on interest credited every 6 months; so the effective interest rate would be much higher than the stated one.

On the other hand, you can also explore Stan Chart's e-Saver account. Not sure about the rates and promos right now, but it's also an "Internet-Only" account which means less costs to maintain; hence they can pay slightly higher interest.

Currently, all my emergency fund (of 1 year living expenses) and opportunity funds are parked in May Bank's iSavvy.