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Old 04-07-2020, 02:19 PM   #5
BBCWatcher
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Join Date: Jun 2010
Posts: 12,803
With massive wave of deposit interest rates reduction, I thought it would be helpful to have a list of Day2Day deposit accounts which still provide decent interest rates. That's why I did not include FDs.
I know ICBC calls their Step Up Fixed Deposit a fixed deposit, and that implies you lose all interest if you withdraw prematurely. But that’s not how it works, and it’s really the functionality that matters. With that account you keep all the interest for completed quarters. It seems quite odd to exclude that account but to include Etiqa’s that have possible 6 month delays between withdrawal request and withdrawal fulfillment.

Great point on the SDIC protected. As I know, all the options listed are protected by SDIC and can be used to avoid concentration risks like depositing all your funds in a single bank just because of miniscule rate difference.
No, some of these accounts are not SDIC protected.
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