Lastest S$ Deposit updates - Part 1

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mosmos

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CIMB has a new 5-year SGD Step Up Fixed Deposit which can be terminated at any time, similar to its 12-month SGD Step Up FD. Interest earned in the first half-year is 0.55% pa, the second half-year 0.75% pa and so on. Minimum $10k.

Cycle 1: 0.55% p.a. Cycle 6: 1.55% p.a.
Cycle 2: 0.75% p.a. Cycle 7: 1.85% p.a.
Cycle 3: 0.95% p.a. Cycle 8: 2.15% p.a.
Cycle 4: 1.15% p.a. Cycle 9: 2.45% p.a.
Cycle 5: 1.35% p.a. Cycle 10: 2.95% p.a.
The average interest rate for the Deposit Tenure is 1.57% p.a. if the Account is held to Account Maturity Date.

CIMB SGD Step Up Fixed Deposit

5yrs FD~? 1st time seeing such long period~

usually when the bank teller recommends 5yrs FD the last time, mostly is selling insurance~

I guess maybank 36mths at 1.6%pa earlier this year was so much better, with free yusheng, then sgd188 cash credit, then corning ware, not sure why suddenly stopped this promo~
 
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neon82

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CIMB has a new 5-year SGD Step Up Fixed Deposit which can be terminated at any time, similar to its 12-month SGD Step Up FD. Interest earned in the first half-year is 0.55% pa, the second half-year 0.75% pa and so on. Minimum $10k.
5 year so long, put one year got 1.1 already
 

lzydata

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5yrs FD~? 1st time seeing such long period~

usually when the bank teller recommends 5yrs FD the last time, mostly is selling insurance~

Or structured deposits!

Yes it is quite crazy. Stanchart used to have a Step Up FD too but that was up to 3 years. What will CIMB do if many people take up their offer, keep their money in there until 2018 and interest rates remain low for longer than expected? :eek: Well, it is covered by deposit insurance.
 

frustrateddude

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5yrs FD~? 1st time seeing such long period~

usually when the bank teller recommends 5yrs FD the last time, mostly is selling insurance~

I guess maybank 36mths at 1.6%pa earlier this year was so much better, with free yusheng, then sgd188 cash credit, then corning ware, not sure why suddenly stopped this promo~

The promo ended 29 June.
Placed a deposit of 60k and was offered a Family n Friend credit card w $50 cashback if spend $50 within 1st month from card issued date.

asked about world card and was told required 200k fixed deposit.
 

mosmos

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The promo ended 29 June.
Placed a deposit of 60k and was offered a Family n Friend credit card w $50 cashback if spend $50 within 1st month from card issued date.

asked about world card and was told required 200k fixed deposit.

:s22: Last year I got $50 cashback for same credit card without the need to spend any amount~
 

TiOnGSquare

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check with u guys

for cimb 12mths fixed deposit is this the most flexible with highest interest rate FD in town right now? The avg interest per mth shd be 1.05% p.a right? interest given end of every mth?

need to put extra money in every mth or juz the initial 10k will do?
got any special traps anot?
thanks!

if i go open, the 10k can i request on the spot to transfer from my savings account over? (but dun close my savings account ofcos)

CIMB SGD Step Up Fixed Deposit

add on:
"Partial withdrawal or to
pping up of the principal during the subsistence of the Deposit Tenure is not
allowed"

so after initial deposit cannot add on money riao har? cant do partial withdrawal anytime also?
 
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mosmos

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check with u guys

for cimb 12mths fixed deposit is this the most flexible with highest interest rate FD in town right now? The avg interest per mth shd be 1.05% p.a right? interest given end of every mth?

need to put extra money in every mth or juz the initial 10k will do?
got any special traps anot?
thanks!

if i go open, the 10k can i request on the spot to transfer from my savings account over? (but dun close my savings account ofcos)

CIMB SGD Step Up Fixed Deposit

add on:
"Partial withdrawal or to
pping up of the principal during the subsistence of the Deposit Tenure is not
allowed"

so after initial deposit cannot add on money riao har? cant do partial withdrawal anytime also?
I do not have this account, but now CIMB 12mths FD is 1.05%~ :s22:
 

spec116

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Hmmm i had open cimb starsaver last mth & deposit 20k..i see the interest earn is $2.19
Hw they calc?

By the way, if i mthly transfer via ibanking..still can earn 0.8% rite?
 

Chua Zhiming

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Hmmm i had open cimb starsaver last mth & deposit 20k..i see the interest earn is $2.19
Hw they calc?

By the way, if i mthly transfer via ibanking..still can earn 0.8% rite?

how come so little? Did you put for a few days only or xfer any money out? Their interest is calculated daily and paid monthly. Better call them to find out.

Yea ibanking works. As long as your acct has $500 more then previous month balance you will get the higher %.
 

spec116

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how come so little? Did you put for a few days only or xfer any money out? Their interest is calculated daily and paid monthly. Better call them to find out.

Yea ibanking works. As long as your acct has $500 more then previous month balance you will get the higher %.

ya..i think i open the acc around last wk of jul haha

I open saving acc..so i suppose min100 deposit rite
 
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