best funds transfer rate now?

Civician

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finally managed to dig this post up

Anyway, i was offered 1.88% (6 months) fund transfer with no processing fee.

Say if i take up this offer and i requested to the amount of $3000. The total amount payable within 6 months is $3000+$112.8=$3112.80?

Monthly payment = $3112.80/6=$518.80?

This is what the CS told me on the phone, just want to confirm.

Thanks.
 

heng_alvin

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finally managed to dig this post up

Anyway, i was offered 1.88% (6 months) fund transfer with no processing fee.

Say if i take up this offer and i requested to the amount of $3000. The total amount payable within 6 months is $3000+$112.8=$3112.80?

Monthly payment = $3112.80/6=$518.80?

This is what the CS told me on the phone, just want to confirm.

Thanks.

yours is 1.88% pa but offer to you for 6months or 1.88% for 6 months? edit: juz calculated,so yours is 3.76% pa offer to you for 6months and have to pay in instalment way. Not a good deal.

Anyway i juz took up 5k citibank at 2.99% pa offer for 6 months with no processing fee. And they nv draft up instalment monthly repayment plan for me which means more flexibility for me.

All i need is to make sure i pay the min payment of 3% of my balance everytime the statement comes. And of course interests charged to me is on reducing basis.

According to the guy,max interests i would incur would be (2.99/100)*5000=149.5 then 149.5/2=74.75 for six months. $74.75 is the max interests that i could incur but of course could be lesser if i choose to pay up full earlier.
 
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heng_alvin

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Called to test water and was offered 1% admin charge for 6 mths transfer with SCB.

0% interest? juz 1% admin fee? Think best rate is Thanato's 0.99pa for 6months. Damn,should have see this thread earlier.
 
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Civician

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yours is 1.88% pa but offer to you for 6months or 1.88% for 6 months? edit: juz calculated,so yours is 3.76% pa offer to you for 6months and have to pay in instalment way. Not a good deal.

Anyway i juz took up 5k citibank at 2.99% pa offer for 6 months with no processing fee. And they nv draft up instalment monthly repayment plan for me which means more flexibility for me.

All i need is to make sure i pay the min payment of 3% of my balance everytime the statement comes. And of course interests charged to me is on reducing basis.

According to the guy,max interests i would incur would be (2.99/100)*5000=149.5 then 149.5/2=74.75 for six months. $74.75 is the max interests that i could incur but of course could be lesser if i choose to pay up full earlier.

oops ps, 1.88% PA for 6 months
 

heng_alvin

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finally managed to dig this post up

Anyway, i was offered 1.88% (6 months) fund transfer with no processing fee.

Say if i take up this offer and i requested to the amount of $3000. The total amount payable within 6 months is $3000+$112.8=$3112.80?

Monthly payment = $3112.80/6=$518.80?

This is what the CS told me on the phone, just want to confirm.

Thanks.

If it's 1.88% pa for 6months, your interests payable is $112.8? According to my calculation,that's not right.

I don't know,me new in this as well. Hope some old birds can shed some light on this.
 

avsquare

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I think the best transfer rate right now (Xmas season) is from SCB.

0%p.a for 6mths with ONLY 1% processing fee.
Example: Fund transfer $5,000, processing fee $50.

I don't think there's any other bank that can offer anything better than this, at least for this xmas.

I took up the offer, so I can vouch on the above rates. No other fees involved.
 

SBS2716G

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If it's 1.88% pa for 6months, your interests payable is $112.8? According to my calculation,that's not right.

I don't know,me new in this as well. Hope some old birds can shed some light on this.
Interest is 3000x1.88%x.0.5= around 30 only. Provided you repay the minimum sum monthly. If you can pay back 1000 the interest will be much lesser.
 
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starbugs

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I think the best transfer rate right now (Xmas season) is from SCB.

0%p.a for 6mths with ONLY 1% processing fee.
Example: Fund transfer $5,000, processing fee $50.

I don't think there's any other bank that can offer anything better than this, at least for this xmas.

I took up the offer, so I can vouch on the above rates. No other fees involved.

Those 1.88% p.a. funds transfers are better.

1% processing fee for 6 mths is >2%p.a. interest charged upfront (i.e. not worth your while in case you want to repay early)
 

avsquare

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Those 1.88% p.a. funds transfers are better.

1% processing fee for 6 mths is >2%p.a. interest charged upfront (i.e. not worth your while in case you want to repay early)

got 1.88% effective interest transfer for 12mths one meh?
 

NY__chickenpie

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I think the best transfer rate right now (Xmas season) is from SCB.

0%p.a for 6mths with ONLY 1% processing fee.
Example: Fund transfer $5,000, processing fee $50.

I don't think there's any other bank that can offer anything better than this, at least for this xmas.

I took up the offer, so I can vouch on the above rates. No other fees involved.

actually this is worst than 1.88%pa for 6 months, do the maths.
1% pf will be 2%p.a in interest, higher than 1.88%p.a
 

avsquare

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actually this is worst than 1.88%pa for 6 months, do the maths.
1% pf will be 2%p.a in interest, higher than 1.88%p.a

yeah, I didn't know that there were EIR 1.88% p.a. deals. And I'm not too interested in HSBC :p

Their call centre like overseas? Tried talking to them before. Always got "lag time" one. Damn irritating.
 

SoulEraser

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yeah, I didn't know that there were EIR 1.88% p.a. deals. And I'm not too interested in HSBC :p

Their call centre like overseas? Tried talking to them before. Always got "lag time" one. Damn irritating.

That's right. HSBC is offering such rates right now, 1.88% EIR.

For the lag time, it's due to the warm transferring of calls. Easily solved by requesting a fresh call to you guys.

2 wrong pieces of information. One, HSBC/UOB are/have always been offering the best funds transfer balance rates, unless you are talking about SCB's first $3k w/o any fees or the previous ANZ's offer. Second, Citibank/HSBC/UOB/DBS' call centres for FT at least, are based locally.
 

SoulEraser

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actually this is worst than 1.88%pa for 6 months, do the maths.
1% pf will be 2%p.a in interest, higher than 1.88%p.a

as a matter of fact, it's higher than 2%pa. EIR is good that it's based on a reducing balance. if in doubt, always request for the EIR from the agent and make a comparison amongst
 

Civician

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Ok, can i assume that the HSBC 1.88% fund transfer is based on reducing balance?
As i need a liquidlity of $2K for only 2 months. Say for the first month i pay the minimum sum and clear everything by the 2nd month, the interest will be even lower?
 

citaro

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Ok, can i assume that the HSBC 1.88% fund transfer is based on reducing balance?
As i need a liquidlity of $2K for only 2 months. Say for the first month i pay the minimum sum and clear everything by the 2nd month, the interest will be even lower?

correct.... u pay 2 month interest....
 

avsquare

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That's right. HSBC is offering such rates right now, 1.88% EIR.

For the lag time, it's due to the warm transferring of calls. Easily solved by requesting a fresh call to you guys.

2 wrong pieces of information. One, HSBC/UOB are/have always been offering the best funds transfer balance rates, unless you are talking about SCB's first $3k w/o any fees or the previous ANZ's offer. Second, Citibank/HSBC/UOB/DBS' call centres for FT at least, are based locally.

What is UOB's rate right now?

From website it is like quite high.

BTW Citibank - depending on what services you call their call centre for, some is based in SG and some is based in MY :)
 
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