Lastest S$ Deposit updates - Part 3

[peppermint7]

But when come to withdrawal, it is better to withdraw 1st of month. Since they pay according to lowest point across the month

 

[F1ngolf2012]

If im not wrong, CPF only gives interest base on lowest sum maintained across the month.

Eg. If u have $200 daily across June
Then last day u top up $50

CPF will take $200 to calculate June's interest for u. They don't go by ADB

So this $50 my as well u put in other places to earn some interest. Last day of month then paynow into CPF

oic...clever. If this is the case, should top up on 1st of the month, right?

 

[vsvs24]

oic...clever. If this is the case, should top up on 1st of the month, right?

Topup last few days of the month better than first day of the mth.

Contribution received on 30 Jun start earning interest in Jul. Contribution received on 1 Jul start earning interest in Aug.

Also topup using PayNow for realtime update. If pay by enets, will only be posted 2 to 3 days later.

https://www.cpf.gov.sg/members/FAQ/...s&group=Others&ajfaqid=2192131&folderid=13726

CPF interest is computed monthly. It is then credited to your respective accounts and compounded annually. CPF interest earned in the year will be credited to your CPF accounts by 1 January of the following year.

CPF balances used for interest computation are affected by the transactions in your account.

For instance, contributions (including refunds) received this month start earning interest next month. Withdrawals/deductions in this month will not earn interest from this month onwards.

 

[peppermint7]

Topup last few days of the month better than first day of the mth.

Contribution received on 30 Jun start earning interest in Jul. Contribution received on 1 Jul start earning interest in Aug.

Also topup using PayNow for realtime update. If pay by enets, will only be posted 2 to 3 days later.

https://www.cpf.gov.sg/members/FAQ/...s&group=Others&ajfaqid=2192131&folderid=13726

CPF interest is computed monthly. It is then credited to your respective accounts and compounded annually. CPF interest earned in the year will be credited to your CPF accounts by 1 January of the following year.

CPF balances used for interest computation are affected by the transactions in your account.

For instance, contributions (including refunds) received this month start earning interest next month. Withdrawals/deductions in this month will not earn interest from this month onwards.

Good info!

So remember to top up LAST DAY of month via Paynow

Withdrawal to be done 1st of month

 

[vsvs24]

Good info!

So remember to top up LAST DAY of month via Paynow

Withdrawal to be done 1st of month

I usually topup second last day just in case.

 

[peppermint7]

I usually topup second last day just in case.

Topping up only take mins
So should b ok. But if last day is PH or Sunday, it wont affect la hor?

 

[F1ngolf2012]

Topup last few days of the month better than first day of the mth.

Contribution received on 30 Jun start earning interest in Jul. Contribution received on 1 Jul start earning interest in Aug.

Also topup using PayNow for realtime update. If pay by enets, will only be posted 2 to 3 days later.

https://www.cpf.gov.sg/members/FAQ/...s&group=Others&ajfaqid=2192131&folderid=13726

CPF interest is computed monthly. It is then credited to your respective accounts and compounded annually. CPF interest earned in the year will be credited to your CPF accounts by 1 January of the following year.

CPF balances used for interest computation are affected by the transactions in your account.

For instance, contributions (including refunds) received this month start earning interest next month. Withdrawals/deductions in this month will not earn interest from this month onwards.

Brilliant! Wasn't aware of this as I somehow had the impression that interest would be computed based on daily balance. Would take note for future contributions/refunds.

From above, looks like CPF is out to short-change members on the interest computation.Do they need to be so desperate to squeeze every cent in order to give 2.5% OA interest?

 

[Cumzilla]

Is the High Yield Savings Account (Plus) for Premier customers only?
https://rhbgroup.com.sg/others/news...s-account-and-high-yield-savings-account-plus

Under Personal Banking, there is another account call High Yield Savings Account (without the Plus)
https://rhbgroup.com.sg/personal/deposits/high-yield-savings-account

Sorry it should be High-Yield Saving Account Plus. I was told currently only left 1 High-Yield Saving Account with effect 1st of July. But best to double confirm with the bank.

Was contacted by their FC when i registered for this + account which only appeared for a while before it disappeared, was confirmed that it was still available, worried that he might intro me to some other saving endowment plans, decided not to proceed with it. The link posted above confirm there is really such account, so what are the criteria to become premier customers?

 

[zzzjil]

Is maybank still offering 2.05% for 36 months? I remember reading it on their website a week ago.

 

[semiret]

Was contacted by their FC when i registered for this + account which only appeared for a while before it disappeared, was confirmed that it was still available, worried that he might intro me to some other saving endowment plans, decided not to proceed with it. The link posted above confirm there is really such account, so what are the criteria to become premier customers?

I don't think High-Yield Saving Account plus is for premier customers. The website only stated "Deposit S$1,000 as a new client or start a new account with S$20,000 in fresh funds".

 

[semiret]

Is maybank still offering 2.05% for 36 months? I remember reading it on their website a week ago.

The 2.05% for 36 mths offer is still available as of today.

 

[Mickey01]

I don't think High-Yield Saving Account plus is for premier customers. The website only stated "Deposit S$1,000 as a new client or start a new account with S$20,000 in fresh funds".

not sure. When I go to their Personal Banking link, it always show the High Yield Account only (without the plus). Unable to find any information on their Premier (Plus) account too.
Premier must have a TRB of at least $200,000. Account maintenance fees apply if balance is below.

 

[semiret]

not sure. When I go to their Personal Banking link, it always show the High Yield Account only (without the plus). Unable to find any information on their Premier (Plus) account too.
Premier must have a TRB of at least $200,000. Account maintenance fees apply if balance is below.

From the link u provided earlier. The Premier Plus Account and High-Yield Savings Account Plus are 2 different accounts. Best is still give them a call if u have any doubts.

 

[F1ngolf2012]

Was contacted by their FC when i registered for this + account which only appeared for a while before it disappeared, was confirmed that it was still available, worried that he might intro me to some other saving endowment plans, decided not to proceed with it. The link posted above confirm there is really such account, so what are the criteria to become premier customers?

Couldn't reach anyone on the phone numbers listed on their website. Wonder anyone manage to open the Premier or HYSA Plus with them?

 

[banyan8]

Couldn't reach anyone on the phone numbers listed on their website. Wonder anyone manage to open the Premier or HYSA Plus with them?

I called the hotline and was told to open the HYSA from the RHB Mobile SG app. But the app only exists in App Store and in Google Play the app is still called RHB TravelFX. Just applied and pending for approval.

 

[Squaredot]

I called the hotline and was told to open the HYSA from the RHB Mobile SG app. But the app only exists in App Store and in Google Play the app is still called RHB TravelFX. Just applied and pending for approval.

why so messy one I scare

 

[semiret]

Couldn't reach anyone on the phone numbers listed on their website. Wonder anyone manage to open the Premier or HYSA Plus with them?

U mean their Customer Call Centre at 1800-323 0100 nobody pickup the call? Maybe U can try this number (Toll free) 800 6011742.

 

[highsulphur]

Gave up and placed with maybank 3yr @ 2.05

Average over 3 years should be fine.

 

[tiertime]

Gave up and placed with maybank 3yr @ 2.05

Average over 3 years should be fine.

3 years really very very long... i put once with GE ard 2 years ago at same rate... never again...

 

[highsulphur]

3 years really very very long... i put once with GE ard 2 years ago at same rate... never again...

Agree. That's why I didn't put too much relative to my net assets