As we kick off the new year, there’s quite a buzz in the Beansprout community about the smartest places to stash our savings. The chatter has been fueled by the recent upswing in T-bill yields, even as fixed deposit rates took a slight dip this January 2025.
Like many folks out there, I’m on the hunt for an uncomplicated way to snag an interest rate of 3.0% per annum or better. So, in this piece, I’ll dive into a few key topics:
– The latest interest rates available on fixed deposits, T-bills, Singapore Savings Bonds (SSBs), and money market funds.
– The pros and cons of channeling your cash into each of these avenues.
– My thought process in choosing between fixed deposits, T-bills, SSBs, and money market funds.
– And lastly, I’ll outline my personal strategy for parking my cash to earn a better yield.
To begin, let’s explore the top fixed deposit rates available in Singapore this January. The most attractive 3-month fixed deposit rate currently sits at 3.00% per annum, courtesy of Bank of China and ICBC…
