Saving and cash management glossary (45 English–Chinese terms)

How a household arranges money it can draw on at any time: splitting cash into layers by purpose and time horizon, choosing tools for each layer with suitable liquidity, protection and certainty of return, and reviewing maturity dates and balances regularly. This site uses three layers (available at any time, needed within a year, and not needed for three to ten years); see the overview.

Money set aside for job loss, illness or unexpected household expenses that can be drawn quickly without loss. A common approach takes several months of essential spending as a reference point and adjusts for income stability, household size and insurance cover. It is usually held in an insured Singapore-dollar savings or current account, not in products that must be redeemed or surrendered.

How easily and quickly an asset can be turned into cash at a price close to its value when needed. Savings accounts are highly liquid; withdrawing a fixed deposit early may forfeit interest; a T-bill can only be sold on the secondary market before maturity; and surrendering savings insurance early usually means a loss. When comparing tools, look at both the speed and the cost of access.

Splitting a reserve across fixed deposits, T-bills or bonds with different maturity dates, so that some money matures at regular intervals and can be spent or reinvested. It balances liquidity with locked-in rates and reduces the effect of committing all the money at a single rate level at one time. See the cash ladder checklist for how to do it.

The nominal rate is the rate stated on an account or security; the real rate is roughly the nominal rate minus inflation over the same period, and measures the actual change in purchasing power. When deposit rates are below inflation, the nominal balance grows while purchasing power falls. Comparisons should use inflation data for the same period, such as figures published by MAS or the Department of Statistics Singapore.

A way of expressing a rate over a one-year period. Fixed deposit rates, T-bill cut-off yields and SSB coupons are usually published on an annualised basis. For tools with terms shorter than a year, the interest actually received must be pro-rated by days held; a 6-month term, for example, earns roughly half the annualised figure, subject to the product's interest calculation rules.

Generally, an annualised rate that takes compounding and the method of calculating interest into account. For bonus-interest savings accounts, it refers to the weighted average rate the whole balance actually earns after tiered interest. A bank's advertised "maximum effective interest rate" assumes all criteria are met and the balance sits in the specified tier; it is lower if the balance exceeds the cap or not all criteria are met.

Inflation is a sustained rise in the general price level; MAS Core Inflation excludes private transport and accommodation costs and is used to track more persistent price pressures. The MAS Monetary Policy Statement of 14 October 2026 forecasts core inflation of 1.5–2.0% for 2026. Rates on cash tools are best compared against the inflation backdrop.

A bank deposit account that allows deposits and withdrawals at any time and pays interest on the balance; Singapore-dollar balances with a deposit insurance member bank are covered by SDIC. Base rates are usually low, with the UOB One and OCBC 360 pages, for example, listing 0.05% p.a. (accessed October 2026), and some banks set minimum balance requirements and fall-below fees.

A bank account used mainly for payments and receipts, usually with cheques and GIRO deductions, paying very little or no interest. Singapore-dollar current account deposits with a deposit insurance member bank are also covered by SDIC and count together with savings and fixed deposits at the same bank towards the S$100,000 cap.

A deposit placed with a bank for an agreed term at an agreed rate of interest. Singapore-dollar fixed deposits are within the scope of deposit insurance. MoneySense (28 September 2026) notes that early withdrawal may mean receiving no interest or losing part of the interest, and fees may be charged, so you may get back less than you originally deposited. See fixed deposits.

The standard fixed deposit rate published by a bank, usually lower than promotional rates at the same time. For example, as at 23 September 2026 UOB's 12-month Singapore-dollar fixed deposit board rate was 1.00% p.a., against a 12-month promotional rate of 1.70% p.a. (minimum S$10,000). Rates change monthly; the bank's page takes precedence.

A higher fixed deposit rate offered by a bank for a limited period, for specific terms and above a minimum amount, often with conditions such as fresh funds, online placement or a specified channel. When a promotional deposit matures, renewal is usually at the board rate or a new promotional rate prevailing at the time, so check the renewal rules before maturity.

A common requirement in bank promotions, meaning money transferred in from another bank rather than converted from existing deposits at the same bank. Banks define fresh funds and set comparison dates differently, for example measuring the increase against the balance on a given date. Whether money qualifies follows the bank's terms.

Interest paid by a bonus-interest savings account on top of the base rate for meeting criteria such as salary crediting, card spend, GIRO deductions, buying insurance or investing. The bonus usually applies only up to a certain balance, for example the first S$100,000 for OCBC 360 and up to S$150,000 for UOB One (accessed October 2026).

A fee charged when an account's average monthly or daily balance falls below the bank's requirement. For example, UOB One charges S$5 a month if the average monthly balance is below S$1,000, and OCBC 360 charges S$2 a month if the average daily balance is below S$3,000, waived for the first year (accessed October 2026). On a small account, this fee can wipe out all the interest.

A bank deposit denominated in a currency other than the Singapore dollar, such as US dollars, RMB or Hong Kong dollars. SDIC and MoneySense both list it as not covered by Singapore deposit insurance, and holders bear both bank credit risk and exchange-rate movements. It is usually used for money that will genuinely be spent in that currency.

A product that combines a deposit with an investment product (such as a derivative linked to interest rates, exchange rates or an index), with returns depending on the performance of the underlying. MoneySense (2 July 2026) explains that it is not covered by deposit insurance or the Policy Owners' Protection Scheme, and early withdrawal may mean not getting back all of the principal.

An investment product with a currency option embedded: the bank has the right to repay principal at maturity in the base currency or in another currency, and the investor receives higher interest in return, so the value received may be less than the principal. MAS Notice FAA-N11 (revised 28 June 2021) prohibits financial advisers (including banks) from describing it as a "deposit" when presenting it to non-Accredited Investors.

A bank operating mainly through online channels under an MAS digital bank licence. If it is a member of the Deposit Insurance Scheme, its Singapore-dollar deposits are also covered by SDIC; the GXS page, for example, states that savings account deposits are insured up to S$100,000 (accessed October 2026). Check the member list on the SDIC website before depositing.

Debt securities issued by the Singapore Government. Those available to individuals include SGS bonds with terms of 2 to 50 years, T-bills and SSBs (MAS product comparison page). SGS bonds cannot be redeemed early and must be sold on the secondary market, with prices moving inversely to market interest rates; under MAS tax rules, interest received by individuals is generally not taxed.

A short-term security issued by the Singapore Government with a 6-month or 1-year term, issued at a discount and repaid at face value at maturity, with no coupon. The minimum is S$1,000, and it can be bought with cash, SRS or CPF Ordinary Account savings; the MAS page states that individuals (including non-residents) aged 18 or above can take part. The price may fluctuate if sold before maturity; see T-bills.

Savings bonds issued by the government specifically for individuals, with terms of up to 10 years and coupons that step up each year; principal can be redeemed in any month without penalty, together with accrued interest. The minimum is S$500, the individual holding limit is S$200,000, and each application or redemption costs S$2 (MAS SSB FAQs, March 2026).

The method used to issue T-bills and SGS bonds: all successful bidders are allotted at the same cut-off yield, rather than each at their own bid. Competitive bids below the cut-off yield are allotted in full, those at the cut-off may be allotted on a pro-rata basis, and those above it receive nothing (MAS T-bill page).

A competitive bid states the acceptable yield (up to two decimal places) and fails if it is above the cut-off yield; a non-competitive bid states no yield and accepts the final cut-off yield, capped at S$1 million per person per T-bill auction (MAS, accessed October 2026).

The yield at which the issue amount is exactly fully allotted in an auction, and the single yield at which all successful bidders are allotted, published on an annualised basis. Results differ from one auction to the next and the MAS auction results page takes precedence; one auction's cut-off yield does not indicate the next.

Issuing a security below face value and repaying it at face value at maturity, with the difference being the investor's return. T-bills are issued this way and so have no coupon; under MAS SGS tax rules (23 June 2023), discount gains received by individuals are generally not taxed, except where received through a partnership or a trade or business.

An interest structure in which the coupon rises with each year held, as used for SSBs. For example, the November 2026 SSB (GX26110X) pays a 1.67% coupon in year 1 and 3.08% in year 10, an average return of 2.45% a year if held for the full 10 years (MAS, 1 October 2026). Redeeming early means giving up the higher coupons that follow.

A securities depository account opened for individuals by The Central Depository (CDP), used to hold SSBs and T-bills bought with cash as well as listed securities. Applying for SSBs with cash requires an individual CDP account linked to the Direct Crediting Service, and you must be at least 18 to open one (MAS SSB FAQs, March 2026).

A CDP service that pays interest, redemption proceeds and maturity proceeds directly into the investor's designated bank account. When applying for SSBs with cash, the individual CDP account must already be linked to a DCS bank account, or the application and payments cannot be completed (MAS SSB FAQs, March 2026).

A collective investment scheme that invests mainly in high-quality short-term debt instruments and eligible deposits, and must meet the asset quality, maturity and liquidity requirements in Appendix 2 of the MAS Code on Collective Investment Schemes. It is not a deposit, is not covered by deposit insurance, and its unit value can go down as well as up; see money-market funds.

An arrangement that pools money from many investors for a fund manager to invest together under an agreed strategy; unit trusts are one example. Collective investment schemes offered to the public in Singapore must comply with the Securities and Futures Act and the MAS Code on Collective Investment Schemes, and provide a prospectus and Product Highlights Sheet.

The average remaining time to maturity of a fund's assets, weighted by holding size, used to gauge how interest rate changes affect the fund. MAS requires a money-market fund's weighted average maturity to be no more than 6 months, and no more than 60 days for a "short-term money market fund" (CIS Code Appendix 2, 2 July 2026).

The value of a fund's assets after deducting liabilities and fees; calculated per unit, this is the NAV per unit, at which subscriptions and redemptions are usually dealt. A money-market fund's NAV can also fall, and past performance shown in a fund factsheet is not indicative of future results.

Singapore's compulsory savings scheme for citizens and permanent residents, funded by employer and employee contributions as a percentage of wages and used for retirement, housing and healthcare. Foreign employees have not contributed to CPF since 1 January 2003 (CPF Board); new PRs contribute at graduated rates for the first two years after obtaining PR. See CPF and SRS.

The CPF account that can be used for housing, education and investment. Its interest rate floor in the fourth quarter of 2026 is 2.5% p.a., with extra interest on top (CPF Board, 22 September 2026). Under the CPF Investment Scheme, the first S$20,000 in the OA must be kept aside, and only the amount above it can be invested, for example in T-bills.

A scheme that lets members invest the portion of their OA above the amount to be kept aside in specified products (such as T-bills and SGS bonds). Members must complete the Self-Awareness Questionnaire and open a CPF Investment Account with DBS, OCBC or UOB; Singapore-dollar deposits under CPFIS are aggregated separately and insured on their own up to S$100,000.

A voluntary retirement savings scheme whose contributions qualify for personal income tax relief. Annual caps are S$15,300 for citizens and PRs and S$35,700 for foreigners, payable by 31 December; withdrawals after the statutory retirement age are 50% taxable, while early withdrawals are fully taxable with a 5% penalty (IRAS, 2026).

The age from which SRS withdrawals can be made without penalty. The IRAS page states that it is 64 from 1 July 2026, and that the statutory retirement age applicable at a member's first contribution applies, so later changes do not affect members who have already contributed (IRAS, 3 September 2026).

A statutory scheme administered by the Singapore Deposit Insurance Corporation (SDIC) that protects Singapore-dollar deposits with member institutions, up to S$100,000 in aggregate per depositor per member institution. Foreign-currency deposits, structured deposits and investment products such as shares and unit trusts are not covered; cover is automatic.

A scheme administered by SDIC that protects policy owners if an insurer cannot meet its obligations. Individual life policies are covered up to S$100,000 of guaranteed surrender value in aggregate per insured person per insurer, and annuities up to S$100,000 of the discounted value of guaranteed benefits; only guaranteed benefits are covered, not non-guaranteed ones.

A long-term policy designed mainly to accumulate cash value, with death cover attached, commonly with a term of 10, 15 or 20 years. MoneySense warns that it is sometimes wrongly marketed as a fixed deposit and that terminating early may result in losses. This site covers only where it fits in cash layering; for product details, see sister site saving.sg.

The trade-weighted exchange rate of the Singapore dollar against a basket of currencies of its major trading partners. MAS's main monetary policy tool is managing the S$NEER within a policy band along an appreciating path, and its statement of 14 October 2026 kept the slope, width and centre of the band unchanged. This is not a forecast of any bilateral exchange rate.

A licence class under the Payment Services Act that allows payment services such as cross-border money transfer and e-money issuance, with business volumes that may exceed the thresholds for a standard payment institution. Major payment institutions that issue e-money must safeguard customer money; licence status can be checked in the MAS Financial Institutions Directory (FID).

The standard for automatic exchange of financial account information for tax purposes developed by the Organisation for Economic Co-operation and Development (OECD). Banks and insurers in Singapore must identify account holders' tax residence and report to IRAS, which then exchanges the information with the relevant jurisdictions; the amended CRS takes effect from 1 January 2027 (IRAS).