Look after your Medisave account

Many people think that Medisave is somebody's else money. They are delighted when they have the chance to take out from Medisave.

Actually, Medisave is your own money. If you keep in Medisave, you earn an interest rate of 4% plus 1% on the first $20,000. This is an attractive rate of return.

Here is my tip:

1. If you have money, pay by cash. Keep your Medisave intact, until it reaches the cap.

2. Your savings in Medisave earn an attractive interest rate. It is better than the interest paid by your bank.

3. You will need your Medisave when you grow old. When you are young, do not use it carelessly.

4. Do not spend too much money to buy expensive Shield plans using your Medisave. Choose a more economical plan.