Savings Accounts and Credit Cards Feb 2021 (XIRR)

 

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

My savings account strategy remained similar to last year:

BOC Smartsaver: 1.45%pa for $80k(hurdle account). Topping up Grab using BOC Q10 gives you $40 Q10cash in addition to getting the 0.5% pa for your 80k.

Singlife: 1.5%pa for $10k. Nerfed to 1.5% but still a good account because no hurdle.

Dash EasyEarn: 2%pa for $20k

Great270: 2.72% for 20k. Just wanted to add this in, its an endowment plan I bought 2 years ago for GE 110 anniversary. 5 years maturity, starting 8th May 2018 matures on 8th May 2023. Looking at it now, it feels like 2.72%pa is a very good deal in current climate. This works out to be a monthly interest of $45.33.

My car COE is expiring on 28th May 2023, will be planning to extend my COE for another 10 years so likely need to put aside 45k for this. Extending for 10 years is the most efficient, as its prorated and you can extend it perpetually. If you extend for only 5 years, you will not be able to extend again once the 5 years is up. Prorated means if you scrap your car mid way, LTA will reimburse you the unused years. The GE270 maturity date coincides nicely with my COE expiry lol.

Credit card wise, it seems that CIMB World Master Card works on Dash and Grab topup. Its gives a 1.5% cash rebate. This means I can use this card to top up dash, use dash ecard to top up Grab to get dash reward points and spend with Grabpay Mastercard. That way, I can get 1.5% + Dash reward points + Grab reward points. Killing three birds with one stone. That is for any spending other than Maybank FnF approved ones. Maybank FnF gives 8% cash rebate so this will still be the priority.

For Grab point booster challenges that require online spending, I usually just use Grabpay Mastercard to buy ecapitavouchers. That way I can get tons of Grab reward points and still retain the cash in voucher form. I frequent a lot of Capitamalls because my son's enrichment classes are there.

Snap shot of my portfolio performance as of today: Total profit for 2021: S$62,185.95 mainly due to 18% rise in Frontage today. Those who haven't read my Frontage post can click here.