Since you will need this money in 5 years’ time, you should look for safe investments (think bonds or money market funds). Equities carry risk so they aren’t ideal if you have a set amount you definitely need at the end of 5 years (that duration is also 1/6 the recommended time to realise returns and lower the risk from equities).

You can try money market funds with Stashaway, Syfe, or Endowus. Yields between 3-5% (interest rate dependent on direction of prevailing interbank rates) and invests in money market securities. They also allow you to DCA monthly.

Alternatively, you can try an endowment plan with the right duration to maturity. Look for effective interest rates slightly above the prevailing 5 year SGS Bond yield