Three very low risk instruments available for you to park your hard earned cash — which should you choose? Here’s a look at the current rates and the perks of each option. 

The serious recession, the pandemic and the lowest employment rate in history have emphasised but one very important lesson: that we should have enough savings for rainy days. Yet, a recent OCBC survey revealed that 2 in 3 Singaporeans don’t have enough savings to last them 6 months or more, which is indeed worrying. The importance of having an emergency fund to provide that financial safety net in case of an unexpected financial setback is crucial.