Lastest S$ Deposit updates - Part 3

[Governor]

1) Sign up for PolicyPal using code SIGNUP:

https://refer.policypal.com/c/HUAT88

2) Buy Elastiq (1.8% guaranteed fixed interest rate) from Policypal

For $5k-$9k deposit, you get $10 from Policypal (encashable) = $10 CASH

For $10k-$25k deposit, you get $20 from Policypal + $50 from Etiqa (both encashable) = $70 CASH

For $26k-$50k deposit, you get $30 from Policypal + $100 from Etiqa (both encashable) = $130 CASH

Policypal referral quote

HUAT88
https://refer.policypal.com/c/HUAT88
Get free extra ps dollars with referral quote when you buy from policypal.

https://www.tiq.com.sg/product/unive...rance-elastiq/

1.8 percent Guarantee return for 3 years with no penalty for withdrawal after 90 days

 

[SIPLSIPL]

Some question on the depository insured amount of 75k.
Say A has a FD of 75k in bank XYZ.
A & B has a FD of 75k in bank XYZ.
In the event XYZ crash, wat is the total amount that both A & B can get?

 

[Utonian]

Some question on the depository insured amount of 75k.
Say A has a FD of 75k in bank XYZ.
A & B has a FD of 75k in bank XYZ.
In the event XYZ crash, wat is the total amount that both A & B can get?

If i am correct,

A get 75k from his account
B get 37.5k from the joint account

coz SDIC is per depositor per scheme member

 

[Mickey01]

I dont really understand why ppl are going for other banks for 3yrs with 1.8% interests rate whereas Maybank is giving 2.05%.
Same same 3 years, no?

TIQ 1.8% - after 90 days, you can partial withdraw without penalizing the 1.8% which you have earned.

FD if you do a pre mature withdrawal, you get board rates only, based on quarter.

Some have already deposited with MB FB. To spread the assets, they are now investigating 1.8%

 

[Governor]

The cost in return for flexibility between mb fd vs elastiq is 25 basis point. Go think about it which one make sense

 

[Governor]

TIQ 1.8% - after 90 days, you can partial withdraw without penalizing the 1.8% which you have earned.

FD if you do a pre mature withdrawal, you get board rates only, based on quarter.

Some have already deposited with MB FB. To spread the assets, they are now investigating 1.8%

Someone talking sense here. Sub 2 percent return wouldn’t make you very rich. Too many people ponder too much over small amount. Make sure be within 75k for fd or insurance and one will be safe due to sdic insurance.

 

[lzydata]

CPF PayNow Promotion
Get rewarded with S$100 cash credit when you transfer your CPF retirement savings or CPF LIFE to your Privilege Plus Savings Account

If you are turning 55 years old soon: Receive S$100 cash credited when you transfer a minimum of S$10,000 of your CPF retirement savings to your Maybank Privilege Plus Savings Account.

If you are turning 65 years old soon: Receive S$100 when you request to receive your CPF LIFE monthly payouts into your Maybank Privilege Plus Savings Account with S$500 transferred into your account over 3 consecutive months

https://www.maybank2u.com.sg/en/promotions/deposits/cpf-paynow.page?

Niche offer. The Privilege Plus Savings Account pays 0.4375% pa for the first $50k and 0.50% pa for more.

 

[Mickey01]

Someone talking sense here. Sub 2 percent return wouldn’t make you very rich. Too many people ponder too much over small amount. Make sure be within 75k for fd or insurance and one will be safe due to sdic insurance.

It depends on how you define rich. Ordinary peasants are also thinking about wealth preservation for the emergency cash fund components of their assets.

 

[Governor]

It depends on how you define rich. Ordinary peasants are also thinking about wealth preservation for the emergency cash fund components of their assets.

To each his own

 

[banyan8]

SIF interest is down

What's viable place to park $$ now? RHB is 0.6% only for the amount above 10k.


Please note with effect from 15/07/2020, interest rate will be revised to the following:-
Account Balance Interest Rate First $10,000 0.80% Next $50,000 0.85% Next $50,000 0.90% Next $50,000 0.95% Above $160,000 to $300,000 1.00% Above $300,0000.75%

 

[James Lee WY]

What's viable place to park $$ now? RHB is 0.6% only for the amount above 10k.


Please note with effect from 15/07/2020, interest rate will be revised to the following:-
Account Balance Interest Rate First $10,000 0.80% Next $50,000 0.85% Next $50,000 0.90% Next $50,000 0.95% Above $160,000 to $300,000 1.00% Above $300,0000.75%

i think can buy endowment now, if you want short term i think can consider elastiq

 

[F1ngolf2012]

What's viable place to park $$ now? RHB is 0.6% only for the amount above 10k.


Please note with effect from 15/07/2020, interest rate will be revised to the following:-
Account Balance Interest Rate First $10,000 0.80% Next $50,000 0.85% Next $50,000 0.90% Next $50,000 0.95% Above $160,000 to $300,000 1.00% Above $300,0000.75%

RHB 0.6%?
HYSA+ first 50k@1.05%.

https://rhbgroup.com.sg/others/news...s-account-and-high-yield-savings-account-plus

 

[merlot6230]

CPF PayNow Promotion
Get rewarded with S$100 cash credit when you transfer your CPF retirement savings or CPF LIFE to your Privilege Plus Savings Account

If you are turning 55 years old soon: Receive S$100 cash credited when you transfer a minimum of S$10,000 of your CPF retirement savings to your Maybank Privilege Plus Savings Account.



https://www.maybank2u.com.sg/en/promotions/deposits/cpf-paynow.page?

Niche offer. The Privilege Plus Savings Account pays 0.4375% pa for the first $50k and 0.50% pa for more.

just bcz of the $100 my 4% interest rate in RA gone - why maybank marketing dept think we senior dam gong or stupid to them ????

 

[Utonian]

just bcz of the $100 my 4% interest rate in RA gone - why maybank marketing dept think we senior dam gong or stupid to them ????

product is just a product mah, up to user to decide if is good or if you want to use.

for you who does not need to withdraw at 55yo then logically will not do so just to get $100
for someone who needs to withdraw for their own reason anyways, this is just an extra $100 for them if wanna bother to use Maybank...

 

[Tiger9119]

product is just a product mah, up to user to decide if is good or if you want to use.

for you who does not need to withdraw at 55yo then logically will not do so just to get $100
for someone who needs to withdraw for their own reason anyways, this is just an extra $100 for them if wanna bother to use Maybank...

After 55, can withdraw anytime. A few months of interest for 10k in CPF SA or OA will be more than $100.

 

[banyan8]

RHB 0.6%?
HYSA+ first 50k@1.05%.

https://rhbgroup.com.sg/others/news...s-account-and-high-yield-savings-account-plus

Sorry, should be 0.6% for the amount above $100k.
I can only find HLBank 0.88~1.08%. Any better saving account?

 

[Utonian]

After 55, can withdraw anytime. A few months of interest for 10k in CPF SA or OA will be more than $100.

obviously already mentioned for those not needing the money will not draw out just to get the $100 then keep the money in bank to earn lower rates than CPF.

applying common sense, this is only worth it for those who need to withdraw the money for some other purpose and going to use the money. Then doesnt matter which account they withdraw to since they going to use it, can chose maybank and get extra 100... unless there are better promo out there...

 

[Tiger9119]

obviously already mentioned for those not needing the money will not draw out just to get the $100 then keep the money in bank to earn lower rates than CPF.

applying common sense, this is only worth it for those who need to withdraw the money for some other purpose and going to use the money. Then doesnt matter which account they withdraw to since they going to use it, can chose maybank and get extra 100... unless there are better promo out there...

Any fall below fee? Any early closure fee (within 6 months)? If those need the money, these 2 fees may apply.

 

[Utonian]

Any fall below fee? Any early closure fee (within 6 months)? If those need the money, these 2 fees may apply.

leave it to those logical pple to go read and decide if its for them.
merely saying no product is always bad or always good, depends on user and the needs.

of course can also easily just keep saying things are bad and only ask question without thinking any other perspective

 

[Governor]

1) Sign up for PolicyPal using code SIGNUP:

https://refer.policypal.com/c/HUAT88

2) Buy Elastiq (1.8% guaranteed fixed interest rate) from Policypal

For $5k-$9k deposit, you get $10 from Policypal (encashable) = $10 CASH

For $10k-$25k deposit, you get $20 from Policypal + $50 from Etiqa (both encashable) = $70 CASH

For $26k-$50k deposit, you get $30 from Policypal + $100 from Etiqa (both encashable) = $130 CASH

Policypal referral quote

HUAT88
https://refer.policypal.com/c/HUAT88
Get free extra ps dollars with referral quote when you buy from policypal.

https://www.tiq.com.sg/product/unive...rance-elastiq/

1.8 percent Guarantee return for 3 years with no penalty for withdrawal after 90 days

Up for the good people here