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Announcements Improve How I Manage My Money Grow & Protect My Nest Egg My Home and I Ready for Retirement Kids & Family Matters Everything Fun Polls
  1. Home
  2. Improve How I Manage My Money
  3. Savings
  4. Emergency fund
  • AL
    alakoon

    Newbie

    Emergency fund

    Savings
    0

      Is it wise to use your emergency funds for short term savings with higher interest? For example Great Eastern Guaranteed Returns Of 1.55%p.a, a 3-year single premium plan.

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    • JS
      jsimwj Boss
      last edited by

        Consider whether it is worth it to lose the interest (and maybe even principal) if you withdraw halfway. If not, better to leave in savings or singapore savings bonds

        1 Reply 0 Reply
      • HE
        helloyou Newbie
        last edited by

          That's GE thing guaranteed return only upon maturity though. Like ham said, will consider whether there is potential loss if I urgently need to use the funds. Don't wanna be forced by emergencies to liquidate at a loss.

          1 Reply 0 Reply
        • HA
          ham Newbie
          last edited by

            I would consider whether there’s any loss if I suddenly want to get my money back since it’s for emergency use.
            Previously I bought Singapore Savings Bond since it can be easily redeemed if I urgently need the money.

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