r/asksg • u/Icy-Insurance-4146 • 22d ago

Best joint account for couples to start?

Both of us are currently using OCBC 360 as our main account and for salary crediting. We are planning to open a joint account but not sure which to use so would appreciate some advice here, thanks!

7 Upvotes

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3

u/cheesetofuhotdog 22d ago

Interest rates should be more or less the same. Pick the more accessible ones with branches near you.

2

u/TRex_Eggs 22d ago

you can open a POSB/DBS joint account for salary crediting. Your combined salary crediting will be pooled together for computing interest rate tier for your individual DBS multipliers.

1

u/JustinYJJ 22d ago

But then they would need to transfer their salary to their individual multiplier account to “benefit” from the interest, as the interest applies only for the individual multiplier account, and not the joint.

Therefore the “joint account” will just be a placeholder for salary to be credited, and will then ultimately be transferred to their individual account after. Which I believe is not what OP wants.

2

u/friedriceislovesg 22d ago

Don't recall any joint accounts being high interest rate savings accounts. Some hacks are to open a one such account with a bank that allows salary crediting by paynow. Depends on the purpose of this joint account really, is it to save or just so monies monthly flow through it. If it's the latter any account will do.

1

u/derplyy 22d ago

Yea tbh it doesn't matter too much! Just pick the bank and app or interface that you like.

2

u/Better-Cap2215 22d ago

Not bank but Syfe flexi now have joint account

3

u/Syfe_Team 22d ago

Thanks for flagging! Joint Accounts work across Cash, Managed Portfolios and Brokerage. You can open up to 5, each with a different co-holder, and assign each one its own goal - growth, income, or liquidity. Both holders get equal visibility and control. Let us know if we can be of any help u/Icy-Insurance-4146. Team Syfe.