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Investing under the SRS Scheme is great way to reduce your tax liability if you have funds for long term investing. If you don’t need those funds immediately, the tax savings are definitely worthwhile.
Last few months of a year are the best time to take advantage of this scheme as it allows you to use the funds all year and still get full tax relief.
From now through the year-end (31 Dec 2022), MoneyOwl is offering up to S$500 in FairPrice vouchers to the first 400 customers who complete a one-time top up of their SRS accounts. The promotion is available to both new and existing customers of MoneyOwl.
The funds must stay invested in the account through Feb-2023 i.e. only for 2-4 months, for the customer to be eligible for the vouchers.
| SRS funds invested through MoneyOwl | Rewards |
|---|---|
| $5,000 – $9,999 fresh funds invested | $30 FairPrice E-vouchers |
| $10,000 – $49,999 fresh funds invested | $80 FairPrice E-vouchers |
| $50,000 – $199,999 fresh funds invested | $150 FairPrice E-vouchers |
| ≥$200,000 fresh funds invested | $500 FairPrice E-vouchers |
While Endowus is our preferred Robo-Advisor for CPF / SRS and Cash Investments, we think MoneyOwl is also a solid choice.
It offers a very similar product as Endowus – low cost, passive and globally diversified portfolios for all your funds – and does so for a competitive fee.
So if you haven’t already set up your SRS account, now is a great time to get started.
MoneyOwl offers low cost, passive and globally diversified portfolio for deploying your SRS Funds.
Questions? Suggestions? See a mistake? Write to us!
Citi Cash Back is a great cashback credit card. Choose from 4 awesome gifts (incl. S$400 cash via PayNow) when you sign up for the card today.
KrisFlyer UOB Credit Card is the best overall credit card in Singapore with a reward yield of 2.5%+. Receive up to 12,000 miles when you sign up for the card in September.
You can make S$1,000+ by strategically signing up for credit cards but you need to be careful to avoid a hit to your credit score and avoid annual fees.
