I think someone posted before that the rate is better / as good as TW. Do update us if you happen to do the transaction from CIMB SG to CIMB MY.

just wondering what everyone is doing with their "parked" $$ in SG bank account ?

FD rates are nothing compared to M'sia ... so considering if I should remit the funds back (and get a slight gain on current exchange rates) or if there are better things that can be done.

You open sg bank acocunt is not for their FD. If you are using it for FD, better don't open account there cause you don't know how to make use of sg bank account. I don't know about you.

I opened my account for
1. Invest into sg reits. They offer 3-8%p.a dividend yield.
2. Use it to invest into US market since overseas broker accept SGD deposit and not RM.

And in case you are wondering, my SGD is minimum giving me 6%p.a

And no. I don't bring my money back. No intention.

This post has been edited by Ramjade: Feb 15 2021, 08:34 PM

mine was idle. but recently trying out stashaway, endowus and syfe.

My $$ in my SG bank account is 20% , the other 80% are in SGX ( reits, banks) and UT from the bank.

Will not be bringing any $$ back, as it is part of my diversification from my Msian portfolio and maybe $$ for my child education in SG next time (provided he qualify to be accepted )

Good planning there, bro,... maybe SG is too competitive for our younger ones, why not another ctry which is nearby ?

a bit competitive is acceptable, my suggestion to him is not to go to the top/elite institutes. middle middle ones can already.

other country nearby? Oz land? I haven't consider, maybe in future will let him decide

For SG,... it is good to invest into,... but to compete,... I think there are other easier places to 'defeat' the population in this world.... but that's jmho. Yr last pt is very valid,.. in this era, we can't force our young ones to do what we think is good for them. We can only guide them, give all pros and cons, and of course, the financial muscle to help them if we are not Bumis !

You and your child will need to evaluate objectively his quality. If he can compete then why not (but don't go compete if you're not of that level la).

Honestly 'middle middle' institutes in SG aren't any better than the private universities we have locally (disclaimer, I'm a lecturer at one of them). NTU/NUS are top notch and world class though, those 2 no fight.

One thing to consider is that higher education is changing a lot now as well. What we consider elite may no longer be elite in 5-15 years time. Keep an open mind.

Thanks guys for the input. No matter for children's future education or not? That's just have to wait and see

At this moment, me having a SG bank account is part of my portfolio diversification ( trade in SGX and SG$), I guess is the same for most of us here. Cause our RM cannot lah

For me, not FD purpose, just to keep my $$ in sg in case myr depreciate more. Hedging purpose

The Stashaway MY and SG, both invest the in same market right?

SG bank is a bridgehead, leading to an array of opportunities.


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yup, but i was just going for SA simple.

Hey, it looks better than FSM's measly 0.6%.

https://www.stashaway.sg/simple

Can you share on the signup process?

just download the app and fill in details. just need passport.

Aside from passport, it asks for utility bill, hope they accept Syabas bill

any official document that has address

Thank you all for the replies. For a complete beginner, what reading material wold you suggest to get started on using funds in SG account (for non-SG residents)?

Googling brings up plenty of resources but in terms of money I'm very risk adverse so being very cautious in what should be taken as truth vs bad advice.

Right now I'm reading fundsupermart.com, but unsure if it's just to promote their own portfolio or really trying to help

This post has been edited by corad: Feb 21 2021, 12:37 PM

Why on earth invest in Simple when you can invest in Versa for better liquidity

When investing in SA better go for invest portfolio as the returns and liquidity are way faster than Simple by 2 days

sg for versa too?