Lastest S$ Deposit updates - Part 3

revhappy

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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.
 

~sabaisabai~

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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.

noted, thanks
so if can go online one, wld be better, no queue :s12:
 

K202020K

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When the next crisis hits, the rates would spike upwards before the central banks intervene. Even at 2.05% some people will feel it's not worthwhile at all .... like our friend Yong, a savvy money manager..
 

hatisinga

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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.

Well, it depends on how much money you have to deposit. If you have $5K, it may not be worthwhile. If your sum is considerably more, then each basis point can make some difference.

Some of the EM banks have a longer history than Singapore. SBI for example trace it's beginnings to 1806. RHB in Malaysia is also more than 100 years old. Many of the EM banks are established banks in their own country with a larger paid up capital than any of the banks in Singapore.

Speaking of risks, some banks in Singapore had to merge during the financial storm of 1998 to survive. I heard more disastrous things but I don't want to get sued for spreading what may be alleged as fake news. So at the end of the day, the risk probability is not much different.

Oh. I almost forgot. Some of the banks in Singapore and in non EM countries either have CEOs from those same EM countries or have staff who hail from these same countries. Perhaps some of them may have worked in those same banks in their own countries of origin.
 
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limchooc

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sesame246

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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?
 

lzydata

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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 :s12:
 

revhappy

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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 :s12:

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.
 

happi3friend

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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 :s12:

can check whats the discount given? similar to FD? 2%?
 

lzydata

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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.

Yes definitely it is more illiquid than savings accounts with promotional rates.

can check whats the discount given? similar to FD? 2%?

The yield is not confirmed before the auction, however it should not be too far away from the market yields for the same term at around the same time. Currently the 6-month T-bill yield is around 1.95% pa.

https://secure.sgs.gov.sg/fdanet/SgsBenchmarkIssuePrices.aspx
 

happi3friend

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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
 

chrisloh65

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My concern would be whether I could sell at good price for SG T bills (at least at buying price if global interest rate has no change)?

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.
 

vsvs24

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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

Years ago it used to be around Chinese new year. But recent years don't see any special months.
 

MilesTeh

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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?
 

mosmos

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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?

Quite fast like other SG banks. Maturity withdrawal will be in ocbc cheque :s22:
 
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