Lastest S$ Deposit updates - Part 3

[vaxvms]

Can share the process ?

Will get the policy/proposal number immediately after applying and then make payment ?

tot just BUY NOW enough


https://www.income.com.sg/savings-a...gn=cpa&sskey=a488c00362394c28947d82b7c66c2596

 

[dreamwork7878]

Odds of a Rate Hike in July Stand at 71%​

Traders are already bracing for the Federal Reserve to unpause its rate-hike campaign.

Futures markets are predicting a roughly 70% chance of a rate increase at the Fed's July 25-26 meeting, according to the CME FedWatch Tool. The central bank kept rates steady at today's meeting, but signaled that it may need to lift rates higher this year.

During Jerome Powell's news conference, the chairman said the choice to pause was for this meeting alone and officials haven't made any decisions about rate increases at future meetings.

"We didn't make a decision about July," Powell said. "Of course, it came up in the meeting from time to time, but really the focus was on what to do today."

Powell added: "I would say about July two things: One, a decision hasn't been made. Two: I do expect that it will be a live meeting."

 

[dreamwork7878]

Recent indicators suggest that economic activity has continued to expand at a modest pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.

The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5 to 5-1/4 percent. Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

 

[sohguanh]

https://www.income.com.sg/savings-and-investments/gro-capital-ease
From NTUC: "The guaranteed maturity benefit of 111.03% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 3.55% p.a."

Meaning

1. NTUC = 1 year is 3.701% guarantee VS
2. DBS manulife =1 year is 3.65% guarantee (0.27% non-guarantee).

Don't see any non-guarantee for NTUC, please correct me if I am wrong.

Both Income and Manulife uses compounding rate I saw from the website illustration. So that means Manulife is better as it is 3.65% guaranteed compounded over 3 years.

E.g
Manulife 10K will be 1.0365 x 1.0365 x 1.0365 x 10,000 = 11,135 end of 3rd year <- this have not factored in the non-guaranteed 0.27% if assume got will be 11,223 refer to below url
Income 10K will be 1.0355 x 1.0355 x 1.0355 x 10,000 = 11,103 end of 3rd year

So it is quite obvious Manulife 3 years endowment is much better and lower at 5K per placement. But in terms of branding not as big as Income lor.

Manulife is compounded look at example
https://www.dbs.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

 

[sohguanh]

But this is partial insurance also right?that means some of your premium goes to insurance?

Yes but for endowment insurance policy you can just focus on the guaranteed monies. The small insurance is usually death and/or tpd and payout about 105% of your premium which is very little so I usually ignore. E.g 10K premium you die and/or tpd get back 1.05 x 10,000 = 10,500. Want big payout go for term insurance pay low premiums kena get big monies but they are different from endowment. So know the different types of insurance.

If it's non participate,how they get their funds?

Hmmm.... actually me also don't care how they invest and even if non-participating how? I only want their guaranteed payout they promise in their policy document haha

 

[oceanicmanta]

Odds of a Rate Hike in July Stand at 71%​

TLDR ... so SG tbill 5% coming right ?

 

[bberry]

Can share the process ?

Will get the policy/proposal number immediately after applying and then make payment ?

my agent did for me. she filled up some forms, then send me a sms with a link. thru this link, u need to verify and sign on the documents, thats the application process.

In the previous Gro Capital, i did online, seems to be much more easier.

 

[sohguanh]

my agent did for me. she filled up some forms, then send me a sms with a link. thru this link, u need to verify and sign on the documents, thats the application process.

In the previous Gro Capital, i did online, seems to be much more easier.

For can DIY insurance best to DIY like Gro Capital. The former process flow is indeed the way I also experience (for another Income insurance not the Gro Capital) super troublesome. I sign then agent sign all becuz got one more party agent in the whole picture. I think agent got comm to take and hence this extra step which is logical. This process also mean agent no need come your house all digital good life sia so easy earn comm or maybe due to digitalization agent comm reduced for Income insurance policies? Hmmm

 

[bberry]

For can DIY insurance best to DIY like Gro Capital. The former process flow is indeed the way I also experience (for another Income insurance not the Gro Capital) super troublesome. I sign then agent sign all becuz got one more party agent in the whole picture. I think agent got comm to take and hence this extra step which is logical. This process also mean agent no need come your house all digital good life sia so easy earn comm or maybe due to digitalization agent comm reduced for Income insurance policies? Hmmm

while doing online earlier, there is a place to enter the Agent code, so they do get the comms too.

anyway, as long as it is convenient for us, no complains.

not like dinosaur banks, rules still so primitive.

 

[vsvs24]

my agent did for me. she filled up some forms, then send me a sms with a link. thru this link, u need to verify and sign on the documents, thats the application process.

In the previous Gro Capital, i did online, seems to be much more easier.

I have done the verify and sign. Then ntuc email me the application documents. But no mention of policy number so can't pay yet ?

 

[dreamwork7878]

TLDR ... so SG tbill 5% coming right ?

• The US Federal Reserve paused its second-steepest rate hiking cycle, as expected. While it assesses the impact of the past hikes, it also signalled another 50bps of further rate hikes to 5.50-5.75% by end-2023.

• The US S&P500 stock index initially fell and bond yields and the USD rose after the Fed’s new projections showed higher rates, but markets subsequently pared back those moves, with the S&P500 closing the day little changed.

Fix deposit rising and tbill rising ?
can bid tbill higher right ?

bid higher for 5% yield

 

[sohguanh]

• The US Federal Reserve paused its second-steepest rate hiking cycle, as expected. While it assesses the impact of the past hikes, it also signalled another 50bps of further rate hikes to 5.50-5.75% by end-2023.

• The US S&P500 stock index initially fell and bond yields and the USD rose after the Fed’s new projections showed higher rates, but markets subsequently pared back those moves, with the S&P500 closing the day little changed.

Fix deposit rising and tbill rising ?
can bid tbill higher right ?

bid higher for 5% yield

This forum have some readers that share Spore may not be following US trend at all as banks are too rich! Hence the FD is dropping. They need to loan monies to business instead of take deposit from customers instead!

 

[dreamwork7878]

This forum have some readers that share Spore may not be following US trend at all as banks are too rich! Hence the FD is dropping. They need to loan monies to business instead of take deposit from customers instead!

cannot white wash and say all banks are flush with cash and rich

 

[Imhthc]

Received this from Citi:

• 3-month SGD Time Deposit rate at 3.68%* p.a.​ • 6-month SGD Time Deposit rate at 3.38%* p.a. With new funds placement of S$10,000 to less than S$250,000​ • 3-month SGD Time Deposit rate at 3.88%* p.a.​ • 6-month SGD Time Deposit rate at 3.48%* p.a. With new funds placement of S$250,000 to S$3 million​

 

[Shalom_555]

Did anyone receive this when you apply SavvyEndowment 12 ​

Grab this exclusive deal! From 15 to 28 June 2023 only.​

​	Receive up to S$50 eCapitaVouchers when you get a SavvyEndowment 12 policy!​ Receive S$20 eCapitaVouchers with at least S$20,000 single premium Receive S$50 eCapitaVouchers with at least S$30,000 single premium

 

[bargin]

Received this from Citi:

• 3-month SGD Time Deposit rate at 3.68%* p.a.​ • 6-month SGD Time Deposit rate at 3.38%* p.a. With new funds placement of S$10,000 to less than S$250,000​ • 3-month SGD Time Deposit rate at 3.88%* p.a.​ • 6-month SGD Time Deposit rate at 3.48%* p.a. With new funds placement of S$250,000 to S$3 million​

for citigold member only ?

 

[bberry]

I have done the verify and sign. Then ntuc email me the application documents. But no mention of policy number so can't pay yet ?

after signing, agent give the policy number, then make payment

 

[sglandscape]

Did anyone receive this when you apply SavvyEndowment 12 ​

Grab this exclusive deal! From 15 to 28 June 2023 only.​

​	Receive up to S$50 eCapitaVouchers when you get a SavvyEndowment 12 policy!​ Receive S$20 eCapitaVouchers with at least S$20,000 single premium Receive S$50 eCapitaVouchers with at least S$30,000 single premium

Would see the promo code when logging into ibank. The voucher not a significant % from an interest perspective though

 

[~sabaisabai~]

dbs endowment is better than ntuc?

 

[Imhthc]

for citigold member only ?

Ya. For citigold customers