Lastest S$ Deposit updates - Part 3

zeroX26

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But it's only the MAS that has the authority to regulate the banks. If the small issues cannot settle properly, surely the big ones will unsettle many innocent bystanders.

You meaning let's wait for another Lehman Brothers mini-bond kind of issue to blow up first before the MAS could move in ?

I really LOL :s13::s13::s13: at this statement. This is Singapore, you really think its that easy now for a bank to chin chai create a product to sell, esp after the DBS "mini-bond" (it wasn't even a bond) fiasco? FYI, even the banks themselves are doing alot of "ownself check ownself" exercises on its employees liao. I know coz Im a regular "mystery shopper" for financial products.
 

K202020K

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I really LOL :s13::s13::s13: at this statement. This is Singapore, you really think its that easy now for a bank to chin chai create a product to sell, esp after the DBS "mini-bond" (it wasn't even a bond) fiasco? FYI, even the banks themselves are doing alot of "ownself check ownself" exercises on its employees liao. I know coz Im a regular "mystery shopper" for financial products.
So, you think you do know a lot with what's going on inside the banks.
So, you also know why they got caught red-handed in the 1MDB money laundering scandal ?
 

tiertime

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So, you think you do know a lot with what's going on inside the banks.
So, you also know why they got caught red-handed in the 1MDB money laundering scandal ?

ya... doesnt matter this is Singapore or what, if bad things want to happen, it can still happen, better dun be over confident/ too trusting
 

lzydata

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Some bonus interest offers have already been updated for April:

Stanchart e$aver Bonus Interest (1 April 2018 to 31 May 2018) Promotion
Bonus interest rate: 1.00% pa
Total interest rate: 1.10% pa (<$50k), 1.15% pa ($50-200k), 1.25% pa (>$200k)

https://www.sc.com/sg/save/savings-accounts/esaver/

Maybank iSAVvy Savings Account Fresh Funds (1 April to 30 June 2018)
Bonus interest rate: 0.80% pa
Total interest rate: 1.18% pa ($50-200k), 1.30% pa ($200k-1m)

http://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx

Both calculated against average daily balance of March.
 

maumu

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Some bonus interest offers have already been updated for April:

Stanchart e$aver Bonus Interest (1 April 2018 to 31 May 2018) Promotion
Bonus interest rate: 1.00% pa
Total interest rate: 1.10% pa (<$50k), 1.15% pa ($50-200k), 1.25% pa (>$200k)

https://www.sc.com/sg/save/savings-accounts/esaver/

Maybank iSAVvy Savings Account Fresh Funds (1 April to 30 June 2018)
Bonus interest rate: 0.80% pa
Total interest rate: 1.18% pa ($50-200k), 1.30% pa ($200k-1m)

http://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx

Both calculated against average daily balance of March.

so Maybank playing the same game as SC's eSaver. however their holding period is 3 months instead of 2 of SC.

unlike SC where you can 'switch' between 2 eSaver accounts to enjoy the promotion, Maybank does not have such a feature leh ("Each customer is only allowed to hold one iSAVvy Savings Account."). For that extra 0.03% (for 50k) is it worth it?
 

Jazzbie

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so Maybank playing the same game as SC's eSaver. however their holding period is 3 months instead of 2 of SC.

unlike SC where you can 'switch' between 2 eSaver accounts to enjoy the promotion, Maybank does not have such a feature leh ("Each customer is only allowed to hold one iSAVvy Savings Account."). For that extra 0.03% (for 50k) is it worth it?

Maybank has this running a long time already but not as continuous as SC. So it's not a one-time thing. Seems to always beat or at least match SC.
 

peppermint7

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so Maybank playing the same game as SC's eSaver. however their holding period is 3 months instead of 2 of SC.

unlike SC where you can 'switch' between 2 eSaver accounts to enjoy the promotion, Maybank does not have such a feature leh ("Each customer is only allowed to hold one iSAVvy Savings Account."). For that extra 0.03% (for 50k) is it worth it?

oh i didn't know we can switch between accounts. if i have 1 individual and 1 combine savings. U mean they allow me to transfer from 1 to another and I'm entitled to the bonus interest?
 

tiertime

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oh i didn't know we can switch between accounts. if i have 1 individual and 1 combine savings. U mean they allow me to transfer from 1 to another and I'm entitled to the bonus interest?

usually they require fresh funds from another bank , just switch out to another bank before switching back in
 

peppermint7

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usually they require fresh funds from another bank , just switch out to another bank before switching back in

thanks for the info. am actually looking around a place to park. so far i only know stanchart 1 year time deposit is 1.4%
and ICBC is 1.41% via e saving transfer. if over counter is 1.39% for 1 year. that was told to me 2 days ago at icbc counter. a bit tired of playing the switching game. I'll see how it goes 😊
 

windwaver

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Banks should be encouraged to sell plain vanilla instruments instead of coming out with so many patterns, to confuse & trick the less savvy among us.

MAS has the moral obligation & authority to ensure this is so.

A lot of my life is spent on a banking career. I can tell you, structured products are the bread and butter of product folks. Without them coming with all those difficult to understand products, you'll not need RMs to explain and the chain goes on. In short, it's good money for any banks.

However, MAS really keeps a tight watch on the FIs in Singapore. I know because the number of audits per year is good enough to run a small SME considering how much time is needed for all that.
 

maumu

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thanks for the info. am actually looking around a place to park. so far i only know stanchart 1 year time deposit is 1.4%
and ICBC is 1.41% via e saving transfer. if over counter is 1.39% for 1 year. that was told to me 2 days ago at icbc counter. a bit tired of playing the switching game. I'll see how it goes 😊

if u want to park for 1 year... look no more. SSB is the way to go. beats all these banks by a wide margin and is more flexible than time deposits too.
 

lzydata

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Fixed Deposits database updated for April with chuanz's interface:

sgfd.neocities.org

The offers and even board rates (OCBC and Stanchart) are creeping up but the banks don't seem to be taking on the new formidable competitor - SSB :s22:
 

maumu

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Fixed Deposits database updated for April with chuanz's interface:

sgfd.neocities.org

The offers and even board rates (OCBC and Stanchart) are creeping up but the banks don't seem to be taking on the new formidable competitor - SSB :s22:

just wondering why haven't u considered banks like Bangkok Bank which is also offering 1.6% for $50k for 1 year?
 

lzydata

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just wondering why haven't u considered banks like Bangkok Bank which is also offering 1.6% for $50k for 1 year?

These offers are not online. It's not that I don't trust people who post here, but I kind of want to restrict the database to what anyone can verify on the banks' websites. It also means that we can all see when the offer is no longer valid rather than have to go back there to check.
 

banyan8

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if u want to park for 1 year... look no more. SSB is the way to go. beats all these banks by a wide margin and is more flexible than time deposits too.
Can sell SSB any time with a prorated interest rate? When can SRS be used to buy SSB?
 

lzydata

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tewem

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OCBC bumped up its fixed deposit offers. Now 1.25% for 12 months and 1.45% pa for 24 months, minimum $20k fresh funds.

https://www.ocbc.com/personal-banking/accounts/time-deposit.html

CIMB now at 1.20% pa for 6 months and 1.40% for 12 months, also minimum $20k.

https://www.cimbbank.com.sg/en/pers...ccounts/cimb-sgd-fixed-deposit-promotion.html

There are higher rates for premier/preferred customers.

Both still lose to the coming May SSB of course.

May SSB, got any offers?
 
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