Lastest S$ Deposit updates - Part 3

[dragon_fly]

Maybank 2.05% pa 3 years.

This rate had ended. Now it's 1.5 % p.a for 3 years.

 

[demoforce1]

Take note it's a ONE TIME placement ALLOWED only even if you deposit less than the cap amount $49,999 for this HSBC 1.4% interest rate.

why cap to $49,999. i can do 50k with same 1.4% rate

 

[SkyNinja]

can split $100k into 5 a/c to earn the 1.95% for 4 years ?

I don't know about OCBC. DBS has started this new rule =>

From 21 May 2020, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal. Click here for more information.

 

[5408854088]

Maybank 1.5% for 3 years placement as highlighted by other forummers in the last few pages. No restriction on multiple placements .

thanks for sharing, could have missed this

 

[star89]

Yesterday I received letter from Citibank. The maxigain saving account interest will drop.

 

[Ahboy069]

thanks for sharing, could have missed this

Cld have been 2.05% if acted early

 

[Squaredot]

thanks. just wondering which bank will allow multiple placement of the same interest rate.

Can place multiple placement at DBS up to the cap.

Basically, if you are interested in this current HSBC fix deposit of 1.4% up to the cap of 49,999 , then do it at one go. They don't allow multiple or subsequent placement later after your 1st or initial placement .

I'm surprised only one placement is allowed.

 

[lzydata]

Thanks for heads up.
Revised to 0.05% for 20k and above
Lucky u placed FD yesterday hope many benefitted from your advance warning

OMG I missed this. FD rates are totally collapsing like Japanese banks now, multi year FDs earn the same as your regular savings account.

 

[lzydata]

whats the difference between iSAVvy Time Deposit and Singapore Dollar Time Deposit? for Singapore Dollar Time Deposit, they are giving 0.7% to 1.5% for tenure of 12 to 36 months.

There are some small differences in interest rates for some tenures and the iSAVvy has a higher minimum of $5k.

 

[tweeety]

Actually, it has been many years since Govt is offering a interest not as good as banks. Initial launch, yes but now, it’s better to put FD than SSB if the amount is Lower than 75K

Else how to attract ppl to put into cpf.

 

[CyberTan]

Can meh? I doubt OCBC will allow you to game that way. 1.95% for 4 years is not attractive at all.

can split $100k into 5 a/c to earn the 1.95% for 4 years ?

 

[CyberTan]

CPF cannot allow for emergency use. I have my personal emergency fund locked in FD for the time being until early next year, wondering next year FD interest might be...

Else how to attract ppl to put into cpf.

 

[SIPLSIPL]

Basically, if you are interested in this current HSBC fix deposit of 1.4% up to the cap of 49,999 , then do it at one go. They don't allow multiple or subsequent placement later after your 1st or initial placement .

So the best rate now is HSBC 24 mcth s 1 5%?

 

[yuzu28]

CPF cannot allow for emergency use. I have my personal emergency fund locked in FD for the time being until early next year, wondering next year FD interest might be...

Ya lor! Even if interest rate attractive, I also won't top up with cash, especially this timing. I had a friend who kept saying topping up CPF is the best investment. Unfortunately, one year before she turns 62, she passed away. It is quite sad to see people are unable to enjoy the fruits of their hard work.

 

[Nofear40]

Ya lor! Even if interest rate attractive, I also won't top up with cash, especially this timing. I had a friend who kept saying topping up CPF is the best investment. Unfortunately, one year before she turns 62, she passed away. It is quite sad to see people are unable to enjoy the fruits of their hard work.

Can withdraw the top up at 55

 

[Gimago19]

That is correct. If you meet the Full Retirement Sum amount, you are allow to withdraw the excess balance on an ad -hoc basis. Meanwhile rain or shine, the amount is generating min 2.5%pa. Of course one have to be prudent and keep some rainy day funds for emergency purpose and not park everything into the CPF.

Can withdraw the top up at 55

 

[item2sell]

Can withdraw the top up at 55

I vaguely remember voluntary top up cannot withdraw even if you hit above FRS

 

[CyberTan]

Exactly! I don’t see the point in that, no matter how good the interest is, you can’t withdraw.

That is correct. If you meet the Full Retirement Sum amount, you are allow to withdraw the excess balance on an ad -hoc basis. Meanwhile rain or shine, the amount is generating min 2.5%pa. Of course one have to be prudent and keep some rainy day funds for emergency purpose and not park everything into the CPF.

 

[Nofear40]

https://www.cpf.gov.sg/members/FAQ/...avings from 55&folderid=12854&ajfaqid=2189257

If you opt for BRS, can’t withdraw interest and TOP up

 

[Nofear40]

I vaguely remember voluntary top up cannot withdraw even if you hit above FRS

https://www.cpf.gov.sg/members/FAQ/...avings from 55&folderid=12854&ajfaqid=2189257

If you opt for BRS, can’t withdraw interest and TOP up