What can you invest with 500 dollars? For working adults like us, it is not a feat to folk out a minimum of 5K for a fixed deposit placement. If you have a higher risk appetite, you can invest 5K into stocks or bonds.

What about those that just started out working? Their starting monthly salary is usually lower than 5K. In my opinion, setting aside the minimum amount of S$500 is a good way to get started to grow your savings. If you will like to grow your S$500, below are some of the options that I found.

### ICBC Fixed Deposit

Needless to explain, fixed deposits are simple to understand. You lock in your cash with the bank for a fixed time period such as 1, 3, 6, 12 months. Upon maturity, you get back your money with the interests earned.

ICBC is one bank or perhaps the only bank that I found that let you do a fixed deposit placement with only a minimum of S$500.

Based on the above rates, if you decided to do a 12 months fixed deposit placement of S$500 via E-Banking, the interests you will receive upon maturity is S$3.75.

### Singapore Savings Bonds

The next option to consider is the Singapore Savings Bonds. The minimum amount is S$500 but you have to pay an administrative fee of S$2 every time you make a purchase of the Singapore Savings Bonds.

The latest issue of the Singapore Savings Bonds (GX20120T) offers you an effective return of 0.24% p.a. if you held it for 1 year. That is a return of S$1.20.

Not too bad already, S$1.20 can buy you a cup of Kopi at the coffee shops.

### GIGANTIC or Singlife Account

GIGANTIQ is a single premium, yearly renewable, non-participating universal life plan by Etiqa that gives you a **guaranteed return of 2.0% per annum on your first S$10,000 for the first year**. Any amount above S$10,000 earns you 1.0% per annum for the first year. The minimum amount to get started is S$50. For S$500 deposited with GIGANTIC for 1 year, the return you will receive is S$10.

Similarly, Singlife is a capital guaranteed insurance savings plan that gives up to 2% p.a. returns. The minimum amount to get started is S$500. For S$500 deposited with Singlife for 1 year, the return you will receive is S$10.

### Syfe

If you have a higher risk appetite, you can choose to explore Syfe.

Syfe is a digital wealth manager licensed by the Monetary Authority of Singapore (“MAS”) under a Capital Markets Services (“CMS”) License.

There is no minimum amount to start investing in any of their portfolios.

I hope the above provide enough options for those that can only set aside S$500 but do not know where to get started.

“If you don’t find a way to make money while you sleep, you will work until you die. – Warren Buffet”