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  • Introduction
  • User Guide
  1. Features
  2. Budgeting

Savings Optimizer

Released in v1.0

PreviousBudgetingNextMoney Tracker

Last updated 3 months ago

Introduction

Description: Provide users with the best savings account based on their financial profile

Use Case: Optimizer user savings and maximize their interest earned

Page: /budgeting/savings

User Guide

Simply fill in your details such as your monthly spending, bills paid, salary credit, and how much savings you have in your bank accounts, and click next!

Details on each field:

  • Monthly Spending - Refers to spending when using the bank's credit/debit cards

  • Number of Bills Paid - Refers to GIRO payments

  • Salary Credit - Has to be made to the bank account, usually with the SALA transaction reference

  • Savings Amount - Daily Average Balance you will have in the account during the month

You will then be shown, in descending order, the best savings account for you to maximize your yield! It shows you the interest rate you are getting and the estimated monthly interest for more clarity. This is especially useful for when certain banks have tiered interest rates based on your account balance. This way, you will know the exact amount you are getting each month in interest.

Notes:

  • The optimizer might not take into account additional factors that can help you earn higher interest on the savings account, only within the scope provided

  • Currently supported accounts:

    • BOC SmartSaver

    • DBS Multiplier

    • Maybank Save Up

    • OCBC 360

    • SC Bonus$aver

    • UOB One

    • GXS Main Account

    • Mari Savings Account

    • Trust Bank Savings Account