Thursday 3 December 2020

DBS Multiplier Crediting Rate Cut

DBS has also joined in the savings interest rate cut, following similar ones undertaken by SCB and Singlife. Well, I have been impacted as the below shows.

Now, I have enjoyed the 1.5-1.9% crediting rate but these would be cut by around half in Jan 2021. I think it's futile to look for another cash guaranteed instrument with close to 2% yield. Therefore, the options would be to leave it alone or divert some funds into higher risk activities. I do need these funds to be as liquid as possible since they are also my emergency backup.

It's also the right time to relook this as I fine tune my financial plan for 2021. Heading to my planning room...

Tip: Teh O Siu Dai

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