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My savings accounts, recent money flow and investments.

Monday, February 27, 2017

I have a few savings accounts but my most used accounts are the following three:


Despite the low interest rate for my savings, I am holding on to my POSB account mainly because I have had it since I was a boy and I feel comfortable with it. I have many arrangements tied to this account and it would be a bother to terminate it. The most important function of this account for some time now is to make and receive payments for my stock market transactions.

2. UOB
The UOB ONE account provides me with higher interest income. Since I am unemployed, I don't have any salary to credit. So, the higher interest rate offered by OCBC360 and BOC to do this doesn't apply to me. With UOB ONE account, the most important criterion is spending on the UOB ONE card. I just have to charge $500 a month to the UOB ONE Card. I do spend money despite what some might think. I keep slightly more than $50,000 in this account.

I know many are worried about Malaysian banks. I was worried too but I did some research into CIMB and decided that it is well run enough although it still pales in comparison to Singaporean banks. I like how it offers a flat 0.8% interest on savings per annum (on the first $750,000) and I like the free cheque book. Yes, I am an IT dinosaur and still write cheques. I keep the bulk of my savings in this account.

I know some are worried about how having more money in the bank means money is rotting away to the extent that they do not keep an emergency fund but I think the majority of us would probably be quite happy to see more money in our savings accounts.

When I shared my investment results for FY 2016, I said I added to a few positions (See related post at the end of this blog.)

In recent weeks, I reduced my investments in SPH and Hock Lian Seng.

Although I did start a few new investments this year, namely,

1. Frasers Logistics & Ind. Trust

2. CapitaLand Retail China Trust
3. Kingsmen Creatives
4. Centurion Corporation Ltd.

And added to my investments in

5. APTT*
6. IREIT Global
7. Sabana REIT (Rights Issue)
8. Religare Health Trust

When I logged into my POSB account just now, I saw a balance which is a little bit more than what I would maintain usually. 

The total value of the stocks that I sold must be higher than the total value of the stocks I bought in recent times. 

Related to this, I decided to see exactly how much money came in and how much went out for the whole of 4Q 2016 and the current year to date:



Net inflow:

Why am I sharing this? I just feel like it, I guess. Nothing profound.

If you manage to get something useful from this blog, I am glad.

However, we should not read too much into the musings of a mental investor who blogs as a past time.

Related post:
Full year passive income from non-REITs.

* With the rather substantial run up in APTT's unit price since December last year, I decided to reduce my investment in APTT today, retaining only the legacy position from its MIIF days. 

Some might remember that I added to my investment in APTT on the assumption that a DPU of 4c is more sustainable than 6.5c and at 37.5c a unit, I was looking at a 10.66% distribution yield from a heavily leveraged entity. Now, it has come down to 8%. 

As a more sustainable 8% distribution yield could be found in some less heavily leveraged entities, I am selling APTT at a price I would not buy at.

Hence, the net inflow of funds revealed earlier will see an increase in the next two days, everything else remaining equal.


K said...

Hi AK,


UOB One credit card has changed its rules... Need to spend charge $500/month and increased number of transactions to 5.

Also, UOB HYA provides better interes than CIMB. But has some "fresh funds" requirements.

AK71 said...

Hi K,

I don't have a problem meeting the spending requirement on UOB ONE card. So, it's OK for me.

As for the High Yield Account, I told UOB that they should rename it the Low Yield Account. ;p

Leopard said...

Hi AK,

I have to presume here that you have settled for CIMB Starsaver because overall it is a better deal. I am sure you've been pointed towards CIMB Fastsaver.

So the maintenance of 2 accounts is not worth the effort?


AK71 said...

Hi Leopard,

For someone who has $50,000 or less, the Fastsaver offers a 1% interest rate. Anything above that, he gets 0.6%. So, if he has $100,000 or more, he will get less than 0.8% overall. So, I didn't bother with starting a Fastsaver account when it was launched.

Kevin said...

Hi AK,

My POSB account has sentimental value to me too. My pathetic NSF pay was credited to this account. :P

Back then the ATMs of rival banks were very little and if i did not remember correctly, POSB ATM was called cash on line teller back then and also not forgetting the retro looking blue POSB bank book with the key as the logo ;)

AK71 said...

Hi Kevin,

Cash On Line! I haven't heard that in years! We are old farts! ;p

Venkatesan said...

You might also be interested in CIMB FastSaver account which gives you 1% with no minimum balance requirements

AK71 said...

Hi Venkatesan,

That is for the first $50K. Beyond, it gives 0.6%. I just settled for the plain 0.8% because I have more than $100K with CIMB. :)

desmondsph said...

salary can be substituted with 3 giro transactions

AK71 said...

Hi Desmond,

I know we can do that for the UOB ONE and I have done it but is that an option for the OCBC360 or the BOC SmartSaver too?

AK71 said...


Hi AK, just wanna say my thanks to you for talking to yourself.

I have made a buy on APTT at a price when you bought at $0.3X. I have just divested for a good profit, partly due to your good talk on APTT's debt and 'whether we are going to buy at current price'.

Due diligence done and I sold. Thanks again! What am I thanking for? I also blur.
Don't worry, wo mei you hai ni 😀

AK71 said...

Largest Southeast Asian banks by total assets
Information from Forbes as of 2017

Rank Bank name Total assets (US$ b)
1 DBS Bank 333.5
2 OCBC Bank 283.7
3 United Overseas 235.4
4 Maybank 164.1
5 CIMB 108.3
6 Public Bank 84.7
7 Bangkok Bank 82.2
8 Siam Commercial 81.3
9 Kasikornbank 79.5
10 Bank Mandiri 77.1

Song list needed said...

hello AK71,

Great blog I am a self employed and i about to hit 6 months of my pay in emergency funds.. so if I am correct i park it at ocbc 360 ? if not its UOB 1? thank you sir for replying

AK71 said...


You might be interested in this blog:
UOB ONE or OCBC 360?

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