I am planning to open a joint bank account with my fiancee and it is solely used for savings and not spending. Which bank account yields the highest interest rate/the best for our case?

Check with your fiancée which banking platform is common for the both of you, use that platform as the primary one.

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For example, mine was OCBC and it makes good sense that we both can see the joint account balance in real-time, from within the same iBanking app as well. Plus point is funds transfer will be easier and more convenient to check with the bank as well.

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So do talk with your fiancée proper on this part.

Hi Anon,

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You may wish to check out the MoneyOwl WiseSaver https://www.moneyowl.com.sg/wisesaver/. The underlying instruments are SGD fixed deposits and cash. It is akin to you getting multiple fixed deposits from various banks but without the lock-in periods. The current moving 5 day average yield is about 2.49%.

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Joint accounts can be created and both of you can fund the account via a recurring monthly standing instruction from your personal bank accounts.

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Withdrawals have a T+2 lag due to the nature of unit trusts, but there is no lock-in period. This should be fine as you only intend to save.