Help needed: Where to park short-term cash?

I have been using Standard Chartered's e-saver promotion to park short term cash.  It has been serving me well because of its liquidity (you can withdraw anytime since it has no fixed tenure), relatively good returns (1.4% p.a. for amounts of over $200k) as well as ease with inter-bank transfers using online banking.


In view of the stock buying opportunities ahead, I hesitate to place the money in longer-term FDs or commitments.  This is money that is to be deployed to buy stocks as and when I feel the time is right.

Recently, I have been thinking whether there is a better way?  Hope to get some ideas from fellow bloggers in this community.


Comments

  1. Well, seems that savings accounts are the best for now because a lot of banks have promotional rates... You can consider money market funds or short term bond funds (I use dollardex)

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    1. I already have multiplier account with DBS, but find the other banks' OCBC 360 and UOB One to be quite a hassle with conditions to fulfill. I currently have POEMS MMF and CIMB StarSaver too as options . Will look at dollardex as you suggested. Thanks!

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    2. POEMS also has a 0% sales charge promo for some of their bond funds. You can check it out. I buy Nikko AM short term bond fund and UOBAM class A and dollardex has 0% sales charge for those.

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    3. Wow. Thanks again! Looks like I need to seriously look at all the MMFs.

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  2. Would MMF offers comparable rates as compared to 3-6mth promotional FD from banks?

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    1. Hi which MMF are you referring to? Sorry but I am very ignorant about MMFs in general. I only know POEMS MMF because it's tied to my trading account with them.

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  3. You can check MayBank ISavvy Account. Now there is a promotion for fund from Oct to Jan 2016. The rate is slightly better than StdChar esave depending on the amount of fund.

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    Replies
    1. Hi Just went to look. Yes indeed very interesting promo they have. Will seriously consider that especially with their free gift for online opening of account. Thanks a lot!

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