Lastest S$ Deposit updates - Part 3

[vsvs24]

I think all in all it take about 1 Hour. I was next on Q upon arrival. And I did a fast transfer after my savings account is opened which is the atm card number. Then they will open for me a FD account and transfer from the savings account to the FD account. Interest after each quarter will be credited to your savings account. There is no min balance but you need to do at least one transaction per year else there is a USD10 fee.

Thanks for info. Did not know about the 1 transaction thing. Just need to do for the SGD account ? Strange it is in USD. The quarterly interest from step up counted as transaction ?

Did not know they can allow FAST for step up FD. The first time I brought cheque. Second time brought cash.

BTW if cash more than 30k, ICBC will ask to see proof of withdrawal eg passbook update or withdrawal slip.

 

[hwarzoner]

i understand need to go down to open a ICBC savings account.

For the ICBC step up FD and normal FD can i do it online at home after i open my saving account?

 

[dleodleo]

Hong Leong Bank
1.75% for 18 mths and 1.85% for 24 months

https://www.hlbank.com.sg/promotion/FixedDeposit

 

[yongsaver]

Unless u are trying to spread 1 million dollars in a few banks, no point looking beyond these 2 banks currently as far as 1 year FD is concerned..

No 1. ICBC 1.85% online FD
No 2. CIMB 1.8% online FD

 

[vsvs24]

i understand need to go down to open a ICBC savings account.

For the ICBC step up FD and normal FD can i do it online at home after i open my saving account?

Step up must go down to bank. Normal FD ie 12 mth 1.85% can do online.

 

[Han Shot First]

For ICBC SGD Step-Up Fixed Deposit, I know that if one already has an ICBC current / savings account, one can visit a bank branch and do the FD placement using a cheque.

Wish to confirm that an alternative is to do FAST transfer of sufficient funds into one's ICBC current / savings account (e.g. at home), then visit bank branch to do the SGD Step-Up FD placement? That is, still need to visit bank branch but no need to issue a cheque if there is sufficient money in one's ICBC current / savings account for the FD placement.

 

[Newmaxi]

Thanks for info. Did not know about the 1 transaction thing. Just need to do for the SGD account ? Strange it is in USD. The quarterly interest from step up counted as transaction ?

Did not know they can allow FAST for step up FD. The first time I brought cheque. Second time brought cash.

BTW if cash more than 30k, ICBC will ask to see proof of withdrawal eg passbook update or withdrawal slip.

Yeah. They will explain and u will have to sign agst that sentence of USD10.

 

[K202020K]

Yeah. They will explain and u will have to sign agst that sentence of USD10.

Why the USD 10? This is Sinkapore lah, not the USA yo .... looks like they don't respect our country and the govt.

 

[vsvs24]

Yeah. They will explain and u will have to sign agst that sentence of USD10.

I did not sign anything regarding US$10. They did not mention this fee also. Strange.

Anyone else going down to ICBC can please help to confirm this.

 

[yongsaver]

This 10 dollars thingy beat Maybank isavvy anytime...for isavvy still need to maintain 500; if not it is $2 every month...until 0, they send a letter to you saying they will close your account.my acc was closed becos of that!

for icbc just make sure transfer in and out of savings acc once a year and dont need to pay a single cent. this is to prevent dormant acc...not to make money like maybank's one...

i will not hesitate to call out banks that offer crap rates and give crap products.

 

[hwarzoner]

Step up must go down to bank. Normal FD ie 12 mth 1.85% can do online.

ok thanks

 

[jywy2005]

Yes, for ICBC account, you need to perform one transaction per year. Like using PayNow to deposit money in ICBC

 

[RedSiskin]

At ICBC Simei to place the step up FD.
1. If placing with cheque, cut off time for same day deposit is 1.30pm.

2. Need to open a savings account. No passbook. Will issue IB and debit card as ATM card. Debit card can choose visa or unionpay.

3. After completing every 3 mth cycle, interest will be credited to the savings account ie don't have to wait till 12 mth to receive interest.

4. They have the FD available pasted at the counters. The step up FD is not shown. While waiting, several people ask about the FD promotion and they did not highlight that there is this step up FD. I say I want to place step up FD and staff confirmed that it is available. Looked at my cheque amount and say based on the amount the 12 mth 1.85% FD is better. I told him still want step up FD as more flexible and int rate if hold to 12 mth is close. So don't walk away even though you don't see it published at counter.

I went to the Sembawang ICBC at 2.10pm to open an account in view of opening a fixed deposit of 20000 for a year to enjoy the 1.85 per cent . I had to deposit $500 and choose between Union Pay or Visa Debit Card. I was given a token for Internet Banking and the Union Pay Debit/ATM card and E-Age Card account with a long account number at 3.45pm. I have some questions. Do I now transfer 19500 from POSB to this E-Age Card Account and then transfer the 20000 to a new fixed deposit account which I have to open with internet banking? It looks like I will not be able to transfer by internet banking from ICBC to other banks. Thanks.

 

[lifeislonggamma]

Yes, for ICBC account, you need to perform one transaction per year. Like using PayNow to deposit money in ICBC

Two days before my savings account was going to marked as dormant, ICBC staff called me to remind me of that fact. So I deposited a small amount of money to get around it.

 

[yongsaver]

I went to the Sembawang ICBC at 2.10pm to open an account in view of opening a fixed deposit of 20000 for a year to enjoy the 1.85 per cent . I had to deposit $500 and choose between Union Pay or Visa Debit Card. I was given a token for Internet Banking and the Union Pay Debit/ATM card and E-Age Card account with a long account number at 3.45pm. I have some questions. Do I now transfer 19500 from POSB to this E-Age Card Account and then transfer the 20000 to a new fixed deposit account which I have to open with internet banking? It looks like I will not be able to transfer by internet banking from ICBC to other banks. Thanks.

Yes.
Can transfer from icbc to other banks...they also have mobile app.

 

[vsvs24]

Two days before my savings account was going to marked as dormant, ICBC staff called me to remind me of that fact. So I deposited a small amount of money to get around it.

Wah. Service so good.

 

[android]

Hi,for CIMB, after we fast transfer the funds, do we get any notice from CIMB that the FD is placed?

 

[Sg_Stone]

Hi,for CIMB, after we fast transfer the funds, do we get any notice from CIMB that the FD is placed?

yes I did receive a fd hardcopy letter from them

 

[luckygal]

Hong Leong bank is good.

Hong Leong Bank
1.75% for 18 mths and 1.85% for 24 months

https://www.hlbank.com.sg/promotion/FixedDeposit

 

[luckygal]

Is it the same as Hong Leong Finance?

Hong Leong bank is good.