Lastest S$ Deposit updates - Part 3

lzydata

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DBS/POSBank Promotion

Get S$8 Ang Bao for every S$1,000 you deposit with POSB.

https://www.posb.com.sg/personal/promotion/online-account-opening

not attractive :(

Although POSB says you can withdraw funds if you want, in order to maintain "the same" average daily balance for 6 months from 2 March to 31 August, it's equivalent to a 6 months fixed deposit at 0.80% or 1.60% pa. Minimum $1k, maximum $25k (earning $200). The effective rate will be lower if you place funds before 1 March.

Typical POSB promotion - very rigid, unnecessarily complicated, and yet the return is not that attractive.
 

mercuryscio

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Wanna ask for cimb online, how do I transfer out my funds after maturity? Once I apply for new account is there a digital token or something?

Yes for cimb will have a digital token, upon maturity can transfer via FAST and flatten the account to zero, no fall below fee penalty if maintain the zero balance account, if want to close can either visit the branch or call up the hotline and they will post over a set of closure forms, complete and send back.
I did the above when my fd matured in Dec 19.
 

verilyverily

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MayBank CNY Promotion for selected CASA deposits

https://www.maybank2u.com.sg/en/promotions/deposits/cny-deposits-rewards.page?

For your info since many are eagerly anticipating various CNY promotions.

iSAVvy, Prestige Savings accounts are apparently not included in the T&C IIRC.

Not attractive IMHO, since the perk amounts to about 1.53%pa incl of paynow registration reward and base interest rate of 0.3125%.

:(:(:(:(:(
 

demoforce1

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mopiko_boy

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I see... thanks for the reply!
I'll go take a look at the T&C.
Considering their base rate is 0.3, even if cc spending is <$1.5k but above $500, still can get 0.8 bonus interest. Coupled with salary credit & 3 bill payments, it'll exceed 2%

UOB One with $500 cc spending + (salary or 3 giro) will also get 2.44%
 

ninefile

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Yes for cimb will have a digital token, upon maturity can transfer via FAST and flatten the account to zero, no fall below fee penalty if maintain the zero balance account, if want to close can either visit the branch or call up the hotline and they will post over a set of closure forms, complete and send back.
I did the above when my fd matured in Dec 19.

note that CIMB fast 1 day max cap is 50k only
 

fanny_t

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UOB One with $500 cc spending + (salary or 3 giro) will also get 2.44%

Yes, I already have UOB One, having 3 giro + and cc spending. So thinking where I can park my salary now that dbs multiplier is changing it's terms. Not keen to get insurance just to satisfy another Multiplier category
 

mfsi1202

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https://www.ocbc.com/personal-banking/campaign/cny-2020.html#chinese-new-year-promotion

Receive S$85 NTUC FairPrice vouchers with every S$10,000 in fresh funds deposited into OCBC Passbook, Statement Savings, Premier Statement Savings and Premier Easisave accounts. There is no maximum amount of vouchers you can earn.

Note that all funds must be maintained for 6 months.

This promotion will be ending on or before 31 January 2020, while stocks last

seem that it is 1.7% (promotional int - upfront ntuc vouchers) + board rate of 0.05% (per month) = 1.75%
 
Last edited:

yongsaver

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it seems that CIMB is the only bank with the lowest fast 1 day max cap 50k

I think when it comes to emptying out one's account the fastest, HSBC takes the cake liao.

FAST daily limit is 1mil. 200K each time.

most other banks still stuck at 200K per day. :s13:
 

lzydata

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https://www.ocbc.com/personal-banking/campaign/cny-2020.html#chinese-new-year-promotion

Receive S$85 NTUC FairPrice vouchers with every S$10,000 in fresh funds deposited into OCBC Passbook, Statement Savings, Premier Statement Savings and Premier Easisave accounts. There is no maximum amount of vouchers you can earn.

Note that all funds must be maintained for 6 months.

This promotion will be ending on or before 31 January 2020, while stocks last

seem that it is 1.7% (promotional int - upfront ntuc vouchers) + board rate of 0.05% (per month) = 1.75%

Quick response to DBS/POSB promotion and just a bit more at $85 :D
 

Junior87

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For those who are interested in 8.6% pa on USD deposits -> you can do it via the stablecoin space.
No lockup, meaning you can withdraw anytime without penalty, but you need an intermediate step to convert USD etc. Covered by insurance similar to FDIC

Check it out for yourself -> but PM me if you have any questions
https://blockfi.com/?ref=a9488336
 

crazycardriver

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For those who are interested in 8.6% pa on USD deposits -> you can do it via the stablecoin space.
No lockup, meaning you can withdraw anytime without penalty, but you need an intermediate step to convert USD etc. Covered by insurance similar to FDIC

Check it out for yourself -> but PM me if you have any questions
https://blockfi.com/?ref=a9488336

Scam if too good to be true
 

Junior87

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Scam if too good to be true

Hi,

Yes, do take a look below and come to your own conclusions.

Blockfi Assets are stored in Gemini's Custody Solution
https://blockfi.com/securely-stored-assets/
https://gemini.com/legal/user-agreem...digital-assets
https://gemini.com/security

Besides the controls and guardrails above, Gemini has also recently put in place $200m insurance facility for all assets under its custody.
https://www.reuters.com/article/us-c...-idUSKBN1ZF1IB
https://finance.yahoo.com/news/gemin...N2Plvi5f0481vc
 

yongsaver

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For those who are interested in 8.6% pa on USD deposits -> you can do it via the stablecoin space.
No lockup, meaning you can withdraw anytime without penalty, but you need an intermediate step to convert USD etc. Covered by insurance similar to FDIC

Check it out for yourself -> but PM me if you have any questions
https://blockfi.com/?ref=a9488336

no offence bro. some folks here can't even get beyond the 3 local banks when it comes to bank deposits. we still have people here asking whether this bank safe or that bank safe or not. how to get them to invest in blockfi?. :zotto:
 
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