Deposits (non FD) to consider to manage concentration risks

[direbmem]

Good spread to manage concentration risk and achieve EIR 1.523%p.a. Of course, EIR would reduce come August.

Wonder why you did not consider Etiqa at 1.8%p.a. since you are comfortable with insurance link deposit like Singlife?

Well Singlife is easy to understand and it functions like a bank account.
Etiqa seems like a lot of details to read..too tired to figure out lol.. and there's a no withdrawal period.
Not sure if its capital protected and monthly interest credited..

 

[F1ngolf2012]

Well Singlife is easy to understand and it functions like a bank account.
Etiqa seems like a lot of details to read..too tired to figure out lol.. and there's a no withdrawal period.
Not sure if its capital protected and monthly interest credited..

Yup! Do not disagree with you/

 

[F1ngolf2012]

Deposit rates update with no hoops

SIF GoSaver for 300k
10k 0.80% 80
50k 0.85% 425
50k 0.90% 450
50k 0.95% 475
140k 1.00% 1400
300k 0.9433% 2830

Fastsaver for 100k
50k 0.50% 250
25k 0.80% 200
25k 1.50% 375
100k 0.8250% 825

RHB HYSA+ for 100k wef 1 Sep 2020
50k 0.80% 400
25k 0.90% 225
25k 1.00% 250
100k 0.8750% 875

RBH HYSA+ for 100k till 31 Aug 2020
50k 1.05% 525
25k 1.55% 387.5
25k 1.85% 462.5
100k 1.3750% 1375

 

[zoneguard]

Thanks for the update. HL Bank? Until Sep.

https://www.hlbank.com.sg/en/personal-banking/deposits/savings-account/isavings-account.html

 

[F1ngolf2012]

Thanks for the update. HL Bank? Until Sep.

https://www.hlbank.com.sg/en/personal-banking/deposits/savings-account/isavings-account.html

Brilliant HL rates look good. Any idea if they on mobile app and use digital token for IB?

 

[zoneguard]

No mobile app. Got thread: https://forums.hardwarezone.com.sg/128128277-post146.html. Started from the July-Sep cycle.

 

[Devilsire]

Thanks for the update. HL Bank? Until Sep.

https://www.hlbank.com.sg/en/personal-banking/deposits/savings-account/isavings-account.html

1.04% (100k) is good however effective till Sep only and 6 months account of 5k minimum locked in

 

[F1ngolf2012]

1.04% (100k) is good however effective till Sep only and 6 months account of 5k minimum locked in

Fees and charges
S$5 monthly service fee; waived with a minimum average daily balance of S$5,000
S$30 early account closure fee, if the account is closed within 6 months of opening

 

[furryballs]

My allocation:
CIMB fast saver - $100k
RHB hysa+ - $200k (under 2 accounts)
UOB one - $75k
Maybank iSavvy - $50k (got to transfer it out by mth end)

The above are the fluid ones, i maxed out SSB trenches under 2 names liao - locked in at low 2% for 10-yr yield some time back.

 

[Devilsire]

Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT

 

[alex22]

Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT

EIR 1.008 at 11mo
Might as well Singlife and gain liquidity

 

[F1ngolf2012]

Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT

Yup! Did that last month.

 

[F1ngolf2012]

EIR 1.008 at 11mo
Might as well Singlife and gain liquidity

Different products and underwriting risks.

 

[Jazzbie]

EIR 1.008 at 11mo
Might as well Singlife and gain liquidity

Shouldn't EIR be the same? It's just a simple FD at 1.1% for 11 months.

 

[Mickey01]

EIR 1.008 at 11mo
Might as well Singlife and gain liquidity

It is already stated at 1.1% p.a. for 11 months. you get 11/12 of the 1.1% because the FD is for 11 months. You get 12/12 of the 1.1% if your FD is 12 months.

 

[Shutterfly]

Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT

Thanks for sharing. I think 10 months should be fine since I don't foresee interest rate to go up in the next 10 months for other banks so giving up some flexibility here should be fine.

 

[F1ngolf2012]

Shouldn't EIR be the same? It's just a simple FD at 1.1% for 11 months.

Correct computation. Interest rate is always stated as per year. Pity that the max amount is $49,999. Work around is to establish additional FD with joint account holder.

 

[F1ngolf2012]

Thanks for sharing. I think 10 months should be fine since I don't foresee interest rate to go up in the next 10 months for other banks so giving up some flexibility here should be fine.

Do consider placing FD quickly as I won't surprised DBS to reduce the rates.

 

[sohguanh]

In lieu of more upcoming increase in interest rate I think should bump this thread. I like the first post consolidation and the separation with hoop , no hoop. I belong to no hoop camp

 

[testingabc]

Same i prefer fuss free saving accounts like RHB, CIMB and SIF.

DBS, Maybank saving accounts promotion have been disappointing and Citibank is like disappeared