Lastest S$ Deposit updates - Part 3

McFadden

Supremacy Member
Joined
Dec 7, 2003
Messages
8,609
Reaction score
484
First time heard withdraw funds on FD maturity need to pay bank a fee
True or not?
Unbelievable ....

sorry,just saw they said waiver upon account closure

so fixed deposits no fees ah?any fees or charges that I miss out?
 

McFadden

Supremacy Member
Joined
Dec 7, 2003
Messages
8,609
Reaction score
484
but if choose between fix deposits vs Singapore bonds vs endowment,which will you all choose?
 

maumu

Supremacy Member
Joined
Jun 22, 2000
Messages
9,029
Reaction score
1,362
but if choose between fix deposits vs Singapore bonds vs endowment,which will you all choose?

if going for long (3 years or more):
1. SSB (10 years)
2. Endowment
3. FD

if short-term:
1. FD
2. SSB
3. Endowment

Personally feels that endowment plans are over-rated with a 3rd party (agents) gaining from you. but if the returns are higher than FD and term is short (like those 3 years kind), can consider...

above are my personal take, heh.
 

LexusIS

Senior Member
Joined
May 29, 2008
Messages
1,170
Reaction score
106
if going for long (3 years or more):
1. SSB (10 years)
2. Endowment
3. FD

if short-term:
1. FD
2. SSB
3. Endowment

Personally feels that endowment plans are over-rated with a 3rd party (agents) gaining from you. but if the returns are higher than FD and term is short (like those 3 years kind), can consider...

above are my personal take, heh.

Ah imo even short term SSB is good. The flexibility to withdraw plus with higher interest rate than FD, simply Beats it hands down
 
Last edited:

erikospeed

Senior Member
Joined
Oct 16, 2001
Messages
1,743
Reaction score
21
First time heard withdraw funds on FD maturity need to pay bank a fee
True or not?
Unbelievable ....

If its the mat bank along Orchard Road
Then yes.
Withdrawal on full maturity is subjected to a $30 surcharge if instructions was set to "auto renewal"
 

Intel888

Master Member
Joined
Jan 30, 2017
Messages
2,630
Reaction score
794
if going for long (3 years or more):
1. SSB (10 years)
2. Endowment
3. FD

if short-term:
1. FD
2. SSB
3. Endowment

Personally feels that endowment plans are over-rated with a 3rd party (agents) gaining from you. but if the returns are higher than FD and term is short (like those 3 years kind), can consider...

above are my personal take, heh.

How about compare Endowment vs. Bonds (like the upcoming SIA retail bond) in terms of risk, time frame, and interest/ dividend?
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top