Savings Account and Credit Cards August 2022

My saving account strategy:

Singlife: 1.5% for $10k. Get the additional 0.5% by topping up your grab wallet with your Singlife debit and transfer it back to Singlife. It should not increase your spending limit for your Grab wallet

Fastsaver: 1.53% pa for $75k for Sep 1st 2022 onwards. They revised up their tiered interest rates. If you have $75k exactly in there on Sep 1st onwards you get an EIR of 1.53%

Singapore Saving Bonds: The first year interest for SSB is at 2.63% for this month's application. No point to put cash into our three local banks when you can get risk free 2.63% pa stepped up every year. Down sides are the redemption which can only happens at the beginning of every month and also the allotment size of 10-12k per application. 

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. I have so far received one Swensen meal voucher and one Jack's place set meal voucher from this, quite worth it. Will mature next year.

My credit card spending strategy:

It revolves around two cards. UOB Absolute for the 1.7% cash rebate for topping up my Grab wallet and Citi Cash Back card for 8% cash rebate for groceries and petrol, 6% for dinning. 

Do note for the 6% dinning rebate for Citi cash back, you can buy dinning vouchers via shopback and stack the cash back with it. Also if you wish to take away food, use food panda to get 30-50% discount for self pick up stack with buying foodpanda vouchers with shopback for extra discount using your GPMC(stacked by topping up with UOB Absolute). This way you get to buy your takeaways at a cheaper rate than what they are actually selling for at the stall.

I have to fetch my son to and from school every weekdays now so petrol is a huge cost for me. I usually use Sinopec at the bukit timah branch get 23% on site discount and use my Citi cash back card for the extra 8%.

All the Grab/Ezlink spending challenges, you can top up Q10 or Singtel bill. Accumulating coins on Q10 is worth it as it has no expiry date and you can use it to buy many essentials like Diapers, tissue box/rolls in the future.