Lastest S$ Deposit updates - Part 3

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HemOfYeshua

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Hi all.. My first contribution.. CIMB first 100k is 1.19% (bonus i/r another 2.11% receive on Oct 30) 2nd 150k 2.19% (bonus i/r another 1.11% receive on Oct 30) then 250k above all 3.3% receive on 31st Oct.. If maintain balance at least $5k more than on last balance on 31st July.. or is it 30 sept for current batch..I don't remember.. Call 63337777 to confim.. All above I'm sharing from memory.. Pls verify accordingly as per your own due diligence :)
bargin said:
BOC FD rates @30 Sep 2024 all rates dropping like grapes !!
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Imhthc

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bigrooster said:
Yes. But provided the total FD amount held with DBS is between $1,000 - $ 19,999.

"From 21 May 20, 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."
https://www.dbs.com.sg/personal/rates-online/fixed-deposit-rate-singapore-dollar.page
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So many patterns. They use this rate for home loan floating rate, FHR, yet they dun allow the customers to put more than $19,999 to earn this rate. So smart of them.
 
C

CrashWire

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Imhthc said:
bigrooster said:
Yes. But provided the total FD amount held with DBS is between $1,000 - $ 19,999.

"From 21 May 20, 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."
https://www.dbs.com.sg/personal/rates-online/fixed-deposit-rate-singapore-dollar.page
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So many patterns. They use this rate for home loan floating rate, FHR, yet they dun allow the customers to put more than $19,999 to earn this rate. So smart of them.
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I think there is a lot of speculation that they are preventing the high rate from being counted for CPF OA interest:

https://www.cpf.gov.sg/service/article/how-are-cpf-interest-rates-determined
 
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gobin74

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HemOfYeshua said:
Hi all.. My first contribution.. CIMB first 100k is 1.19% (bonus i/r another 2.11% receive on Oct 30) 2nd 150k 2.19% (bonus i/r another 1.11% receive on Oct 30) then 250k above all 3.3% receive on 31st Oct.. If maintain balance at least $5k more than on last balance on 31st July.. or is it 30 sept for current batch..I don't remember.. Call 63337777 to confim.. All above I'm sharing from memory.. Pls verify accordingly as per your own due diligence :)
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Hi looks like esaver is a reasonably better. Option pl..any views .... Thanks
 
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ericcsn

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saintgtril said:
Hello all, what do you all think of this policy? https://www.dbs.com.sg/insure/web/savvyendowment/

Is it a good time to lock in to this guarantee 3% for 3 years, noting that the interest rates are now dropping like anything?

Thanks!
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Yes to me since it is guaranteed over 3 years with an irr 3% upon maturity (top side 3.12%) and particularly where you dont have plans for other use of SRS.

It is up to $100K (so protected by SDIC).

But if you die before then, then payback amount is just 101% of principal.

Unless it is death by suicide within a year from plan purchase, in which case it is principal amount less expenses.
 
blues7

blues7

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ericcsn said:
Yes to me since it is guaranteed over 3 years with an irr 3% upon maturity (top side 3.12%) and particularly where you dont have plans for other use of SRS.

It is up to $100K (so protected by SDIC).

But if you die before then, then payback amount is just 101% of principal.

Unless it is death by suicide within a year from plan purchase, in which case it is principal amount less expenses.
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for folks with spare cash, why not, same concept, put your eggs in different baskets

this is with insurance company?
 
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reflecx

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ckman3 said:
Just checking, is this FD to be done at branch physically? Can't seem to find option in app for this.
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bargin said:
need to be at branch for FD placement
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I use online banking from browser to place 24 month FD, transfer from my EGA account. Couldn't find the option on the mobile app.

TLCTLC88 said:
Need to open savings account with them? Or can simply go to counter with cheque/cash and do placement straightaway?
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I'm not sure about this, other banks I've placed FD with require a savings account. Isn't it more convenient to do everything online? You can open a HSBC account online.
 
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