Singapore has tightened its monetary policy to stave off inflation. Against an environment of high interest rates, our savings can now grow at a faster pace. Let’s look at the recently enhanced UOB Stash Account which now provides up to 5% p.a. interest, making it so much easier for the everyday saver to compound his/her savings. When combined with the UOB One Account to form the Power Duo, it rewards savers with up to S$8,000 in interest a year. That
I’ll splurge today and save tomorrow. Sounds familiar? But having the mindset of doing things “later” almost always turns into “never.” And if that’s you, this post is for you. Automate savings I don’t automate savings because I don’t see the need to. But those with a fixed paycheck and on rather fixed pay dates may find it useful. For instance, DBS has this eMySavings Account which promises “higher interest when you save more each month.” You can save any
Asian currencies have broadly declined against the buoyant US dollar, sliding to levels not seen since the Asian financial crisis. Among the worst-hit currencies is the Korean won which extended losses this month, dragged down by the U.S. Federal Reserve’s aggressive monetary tightening. South Korea which is export-dependant also comes under increasing pressure with higher oil prices and a deteriorating trade balance. On the flip side, the Singapore’s dollar has been resilient against the US dollar. To fight inflation
Have you heard of Trust, the latest digital bank to take the digital banking scene by storm? Trust Bank offers up to 1.4% interest rate for its savings account, 21% rebate on its credit card, $35 NTUC e-Vouchers as well as free rice and Kopitiam breakfast set. Here is how to save and score these freebies! What is Trust Bank? Trust Bank (known as Trust) is a new digital bank set up by Standard Chartered Bank and NTUC. This
Let us face it! Saving money as a teenager is challenging, especially when you have friends who are constantly buying new clothes or are going on yearly overseas trips. However, it is possible. Here are 6 tips on how teens can save money despite the temptations and less income. #1: OPEN A SAVINGS ACCOUNT Opening a savings account with the help of your parents or guardians is a good idea as it will train you to manage your money.
