Hi Mr Tan,
What is the best (low risk) investment instrument to use if I have 100k and I need the money in 6 months time? I do not want to leave it in my savings account as the interest rate is very low. I was introduce into dual currency investment by my bank. What's your take on it?
REPLY
For short term invstment, you have to accept the low interest rate offered by the banks. You can place it on fixed deposit to earn more than saving account. In my case, my short term cash is kept in an auto-save account which earns a low interest rate.
You should avoid all types of dual currency investments. Read the FAQ in my website, www.tankinlian.com. Look for "Ask Mr. Tan" and search for "Dual Currency".
http://tankinlian.com/Admin/File.aspx?id=66
If that bank knows you need the money in 6 months time, and yet still asked you to put into dual currency then I think you should fire your bank. They obviously don't give a crap about you or your need for safety of your money.
ReplyDeleteReport to MAS and have the bank fined or license suspended. Saving account or FD and not even money market.
ReplyDelete