I don't understand, why risk an EM bank for slightly more yield. The extra yield few basis points will hardly make or break your lifestyle.
Yes and no. SBI is slow in processing FD due to lot of paper work that is still done manually. I had visited their branches in Jurong East and Little India, both the same with Little India slightly better. But the good news is their queue is usually very short, so the waiting time is a lot shorter compare to other bank.
BTW, FD placement or withdrawal is always time consume for both local and foreign bank, especially if you are first time to the bank.
what is EM bank?
“Savers are quite savvy; I’ve heard of professional fixed-deposit rollers who go from one bank to another (in search of higher fixed-deposit rates),” Mr Leow added.
I don't understand, why risk an EM bank for slightly more yield. The extra yield few basis points will hardly make or break your lifestyle.
Fixed deposits beat out Singapore Savings Bonds
https://www.businesstimes.com.sg/banking-finance/fixed-deposits-beat-out-singapore-savings-bonds
All the rollers come in
That's true, while the interest rate is expected to drop in the months to come it is still not too difficult to find FD deal that offer 12 mths interest rate @ 1.7 to 2.0%. Who would want to buy SSB when its first 3 years interest rate is at 1.68% only.
I am using SRS for SSB. Most FD doesnt allow use of SRS.
any suggestion how else to use SRS?
I am using SRS for SSB. Most FD doesnt allow use of SRS.
any suggestion how else to use SRS?
You can also buy SGS bonds or T-bills with SRS funds. However you might have to apply through the banks in person, whereas buying with cash can be done online or through ATMs.
SGS Bonds
https://www.mas.gov.sg/bonds-and-bills/Singapore-Government-Bonds-Information-for-Individuals
T-bills
https://www.mas.gov.sg/bonds-and-bills/Singapore-Government-T-bills-Information-for-Individuals
The next 6-month T-bill will be auctioned next Thursday 11 July
You can also buy SGS bonds or T-bills with SRS funds. However you might have to apply through the banks in person, whereas buying with cash can be done online or through ATMs.
SGS Bonds
https://www.mas.gov.sg/bonds-and-bills/Singapore-Government-Bonds-Information-for-Individuals
T-bills
https://www.mas.gov.sg/bonds-and-bills/Singapore-Government-T-bills-Information-for-Individuals
The next 6-month T-bill will be auctioned next Thursday 11 July
Is there any advantage of T bills over high interest savings accounts like DBS multiplier or SCB Esaver?
We lose the liquidity with the T bills.
can check whats the discount given? similar to FD? 2%?
Is there any advantage of T bills over high interest savings accounts like DBS multiplier or SCB Esaver?
We lose the liquidity with the T bills.
Guys, can I ask usually which are the months which have the most/best FD promotions with high FD rates?
Wanna try and "sync" with the promos
Hi all,
Would like to ask if anyone has placed an FD with HL Finance? Other than the $50 penalty for early withdrawal, is there anything one should be aware of? How long did it take you to complete the FD process at the counter?