Custom Search

Wednesday, October 1, 2008

Money Market Fund vs Mysavings Account

I've a fixed deposit with a foreign bank maturing today. Where should I reinvest the money?

1. This foreign bank is paying 1.5% p.a. interest.

2. My funds in the trading account with Phillip Securities is earning slightly more than 1.5% p.a. interest from Phillip Money Market Fund, credited daily.

3. My funds in POSB Mysavings Account is earning 1.5% p.a. interest, credited monthly.

I prefer to keep my money with local banks now. Phillip Money Market Fund is safe now. But I might be able to get 1.6% on POSB Mysavings Account.

Ok, better be safe, keep it with POSB Mysavings Account to earn 1.6% p.a. interest, credited monthly.

Bookmark and Share


DISCLAIMER: All contents in this blog are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of stocks or any other investments. Please consult with your financial advisor before making an investment decision regarding any mentioned investments.
I assume no responsibility for your trading and investment results.
Abdul Munir | Daya Earth Blogger Template