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A no frills savings account by DBS: My Account

 In case you have just landed in Singapore and plan to open your first bank account, or even otherwise, if you need a fuss free account, without a minimum balance requirement and no fall below fee for non maintenance of minimum account balance; Your answer is DBS My Account. DBS launched this fairly recently, early this year and this is a very under-rated account.  https://www.dbs.com.sg/personal/deposits/savings-accounts/my-account The best thing about DBS is its wide range of ATM networks. You get a debt card as well with this account which you can use for spending with either the NETS network or VISA/Mastercard network. Another new feature about this account, DBS allows you to convert your My Account to the more popular DBS Multiplier account, without the need to apply for a new account number. The reverse is also possible. Lets say you already have DBS Multiplier account and no longer want to keep money inside it, you can convert your account to DBS My Account, online. Thi...
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Best way to move SGD to INR: Standard Chartered Vs SingX

Although there are many websites that help you to move your SGD to INR, the cheapest I have found are: 1)Standard Chartered SC Remit 2)SingX.co Standard Chartered SC Remit is currently running a promotion of $0 transfer fee, which SingX charges  $4 for $100 $35 for $10,000  $250 for $100000 Lets compare the current exchange rates with both. Xe.com exchange rate is 54.63 SC Remit is 54.43 with no fee SingX is 54.56 with $35 fee Lets compare if you need to transfer $10000 to India, how much would you actually receive in Rupees. SC Remit : Rs 5,44,306 SingX       : Rs 5,43,690 So SC Remit gives you Rs 615 more. Difference is not a lot, but the key thing to note is you need to be SCB account holder to user their remittance service. In Summary, both SC Remit and SingX are excellent options to transfer money to India. SC Remit seems to be slightly better. But if you dont want to go about opening a new bank account with SCB, then SingX works perfectly fine. Below ...
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Where to park your Sing Dollars in this low interest rate environment?

Ever since Covid 19 hit us, central banks have flushed the system with liquidity and resulting in yields on safe instruments like bank deposits falling significantly. Singapore is no different, I was using DBS multiplier to park my savings upto 25k used to earn 1.8%, with just salary credit and 1 credit card transaction. However, the interest rate has been nerfed to 1.1%. While exploring better places to park my safe money, I came across SingLife and Dash Easy Earn. Both are Insurance savings products which work very similar to bank account. SingLife gives 2.5% pa upto 10k and Dash Easy Earn gives 2% pa upto 20k. So I have just opened these accounts and moved 10k to SingLife and 5k to Dash Easy Earn. In case you want a referral bonus of $10 for SingLife you can use my referral Link to signup: https://app.singlife.com/6yDQdJLwA8
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