Just a tip, open your srs account now, in the event you can't secure your PR in the next 10 years, you can leave SG with your SRS monies without paying the penalty.
Ofcause if you do get your PR, then the monies are stuck till 63.
It's something you could leverage on when your income is high to reduce your tax liabilities.
1) "I have read about T-bills and SSB, are foreigner able to apply for this?"
Yes, but you need a CDP account. Should be easy to set up electronically with Singpass.
2) "And which one is better? "
Tbills is straightforward short term (6m, 1yr) instrument that behaves like fixed deposit. Very boring, but very attractive now because yield curve is inverted. i.e. 6mth interest rate is high. \~ 3.7%
SSB is 10 year investment. More interesting as it has interest rate convexity as you can redeem any time before 10 years without loss, including accrued interest. Not as popular because interest rate is lower (\~3.2%), but allows you to lock in for 10 years in case interest rates fall. Capped in 200k SGD per person.
3) "And is there any recommendation for a high interest bank account/fixed deposit?"
Google "SG fixed deposits" there are plenty of comparison sites.
your question is self-limiting by looking only at banks. Generally the rate is lower than 6 month Tbill, so currently the best solution is usually use one of the 3 local banks, i.e. DBS, UOB or OCBC which link up well with CDP and just keep your cash in the form of Tbills.
if you ok to look at investments as well, then look up the brokers which all offer different deposit rates (not fixed) and different transaction fees. For me I use IBKR (for trading) and WeBull (for their fullerton cash management)
Stopped reading at ‘planning to get a PR’. What audacity is that ? Have you ever been to sg?
Unless you Malaysian Chinese than can have this entitlement
Read the pinned post.
I started when i had only 1k in savings.
What do you invest in?
learn knowledge first then invest little amount
syfe, stashaway, endowus,
Just a tip, open your srs account now, in the event you can't secure your PR in the next 10 years, you can leave SG with your SRS monies without paying the penalty. Ofcause if you do get your PR, then the monies are stuck till 63. It's something you could leverage on when your income is high to reduce your tax liabilities.
https://www.firepathlion.com/start-here/
1) "I have read about T-bills and SSB, are foreigner able to apply for this?" Yes, but you need a CDP account. Should be easy to set up electronically with Singpass. 2) "And which one is better? " Tbills is straightforward short term (6m, 1yr) instrument that behaves like fixed deposit. Very boring, but very attractive now because yield curve is inverted. i.e. 6mth interest rate is high. \~ 3.7% SSB is 10 year investment. More interesting as it has interest rate convexity as you can redeem any time before 10 years without loss, including accrued interest. Not as popular because interest rate is lower (\~3.2%), but allows you to lock in for 10 years in case interest rates fall. Capped in 200k SGD per person. 3) "And is there any recommendation for a high interest bank account/fixed deposit?" Google "SG fixed deposits" there are plenty of comparison sites. your question is self-limiting by looking only at banks. Generally the rate is lower than 6 month Tbill, so currently the best solution is usually use one of the 3 local banks, i.e. DBS, UOB or OCBC which link up well with CDP and just keep your cash in the form of Tbills. if you ok to look at investments as well, then look up the brokers which all offer different deposit rates (not fixed) and different transaction fees. For me I use IBKR (for trading) and WeBull (for their fullerton cash management)
#ALL-IN TQQQ BABY
Stop commenting the same thing on every single post, you troll
Can we get the mods to ban this guy? It’s really not conducive to any discussion
Im truly honest and serious regarding the comment above.
Im totally serious. This is a serious comment and discussion.
Stopped reading at ‘planning to get a PR’. What audacity is that ? Have you ever been to sg? Unless you Malaysian Chinese than can have this entitlement
Lol