5 Places to Put Savings For July 2024
It pays to be a saver, and this is especially true when rates are good. This month, those with cash are indeed quite spoilt for choices with a bunch of great ways to get higher interest or returns for our cash savings.
Here’s a round-up of 5 places you can consider placing funds in for the month of July 2024.
1. UOB Q3 Promo – up to around 5.94% p.a. possible
UOB’s quarterly promo has been announced for the third quarter of 2024, and as usual they are giving bonus cash for savers to set aside funds for a few months.
Combined with UOB One, this can offer as much as 5.94% p.a. interest – provided you have S$150,000 fresh funds in the account and meet the salary and card spend requirements. The funds are also locked up for at least 4.5 months.
It’s a bit of work, but the combined interest is pretty great. There’s time to put funds into UOB One to take advantage of the promo, and I’ll be posting a piece on my analysis so stay tuned for that.
2. Chocolate Finance – fuss-free 4.2% p.a. returns
After a long hiatus of sorting through regulatory requirement, Chocolate Finance has opened its doors to new users.
While not a savings account, Chocolate Finance’s top-up arrangement gives a flat 4.2% p.a. returns on the first S$20,000 of funds per user. It also provides liquidity for users in form of instant withdrawals (up to S$20,000 per day), and cash is immediately transferred to your bank account.
Also, the underlying funds are invested in investment grade, short-term bonds so I’m very happy with the arrangement. Read more about Chocolate Finance here. It’s still not opened to everyone, but you can get early access with my link:
Chocolate Finance
Get up to 2% p.a. returns with Chocolate Finance and 1 Max Mile per dollar with Chocolate Card.
💰 Welcome Reward
Sign up by 31st August 2026
| Funding | Reward |
|---|---|
| Fund S$1,000 | S$30 Cash or S$40 Grab Vouchers |
| Fund S$10,000 | S$50 Cash or S$60 Grab Vouchers |
| Fund S$20,000 | S$120 Cash or S$130 Grab Vouchers |
Holding period: 60 days
💳 Chocolate Card
Get 1 Max Mile per dollar spent and no forex fees.
See airlines that Max Miles can go to. You need a HeyMax account first.
💰 Top-up Programme
| Balance | Rates |
|---|---|
| Up to S$20,000 | 2% p.a. (with top-up) |
| S$20,000 to S$50,000 | 1.8% p.a. (with top-up) |
| Above S$50,000 | Target 1.8% |
For reference only; refer to exact details in terms and conditions
3. HSBC EGA Promo – 4.6% p.a. for one month
HSBC rolls out promos for HSBC EGA each month, and July’s promo sees a 4.60% p.a. rate possible. The rate is for fresh funds and applicable for the first month only, with the second month getting 3.60% p.a.
You can read more about it here:
4. Moomoo Cash Plus – 6.8% p.a. guaranteed returns
If you are a new user to moomoo, you can get loads of goodies by signing up and meeting a few simple requirements. One of the sign-up perks is getting 6.8% p.a. guaranteed returns on up to S$80,000 placed in Moomoo Cash Plus.
It’s an investment, though relatively low risk since the funds you choose from for Cash Plus are invested in things like government bonds and bank deposits.
Moomoo has been running this promo for Q2 2024, and the promo is slated to end after 15th July 2024.
5. Government bonds – SSB offering around 3.2% p.a.
The last channel to consider is our very own government’s bonds and there are plenty to pick from this month. In particular, Singapore Savings Bond (SSB) for August 2024 offers guaranteed 3.19% to 3.22% p.a. returns.
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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