Savings Accounts and Credit Cards 29th June 2021

 

If you haven't read my previous post on this topic can click here.

My savings account strategy remained similar:

BOC Smartsaver: 1.45% pa for $80k(hurdle account). Topping up Grab using BOC Great Wall Debit is counted as credit card spending. You can transfer the amount back to your BOC Smartsaver after. 

Singlife: 1.5% pa for $10k. You can top up $500 to Grab using Singlife debit card and transfer back to qualify for the additional 0.5% pa. Recently nerfed from 2% to 1.5% pa net.

Dash EasyEarn: 2% pa for $20k

Dash PET: 1.7% pa for $30k

Great270: 2.72% for 20k. 5 years maturity, starting 8th May 2018 matures on 8th May 2023. This works out to be a monthly interest of $45.33. GE recently gave all GE270 customers food vouchers amazing.

Commentary:

Credit card wise, I am currently using UOB absolute 1.7% cash back to top up Grab Mastercard, then use the reward points earned through spending to buy into star point vouchers during 35% point back promotion and use SP service plant rank to redeem capitastar voucher at 30% star discount.

Another thing I notice is that if I set my grab autoinvest to $5 and slowly accumulate money inside, I can transfer out back to my bank account via paynow. This means I can transfer the bulk of my credit card top up money(which earns 1.7% cash back) back to my bank account. A good strategy if you want to convert your credit card top up money to transferable money.

What I do is I use Q10 to buy foodpanda vouchers using the 20% cart discount, then use GPMC to pay for the small excess after applying the voucher to proc the $5 autoinvest.

I am investing more of my cash now into HK and US equities. My TWR so far ytd: