Lastest S$ Deposit updates - Part 3

[kurt111494]

Based on my experience, opening the iSavvy account was immediate using Singpass on the Maybank2U sg (new app). I downloaded the old version M2U sg (classic) later on for the 2.85% 3yrs FD isavvy upfront int,

Sorry just checking for the specific steps...I already opened an iSavvy Savings account.

1. On the Classic app, when I apply for the 36 month tenure, I choose "iSavvy Time Deposit" and "36 months"?
2. When I type in the funds amount, do I do a fresh funds transfer from other banks? Or I deposit into my iSavvy Savings account, and the app deducts from there?

 

[EveMuffins]

Sorry just checking for the specific steps...I already opened an iSavvy Savings account.
On the Classic app, when I apply for the 36 month tenure, I choose "iSavvy Time Deposit" and "36 months"?
When I type in the funds amount, do I do a fresh funds transfer from other banks? Or I deposit into my iSavvy Savings account, and the app deducts from there?

Correct, choose iSavvy FD and 36 months then choose to deduct from iSavvy Savings account.

 

[~sabaisabai~]

What if the rates go up next yr?

What if rate drop next year how?

 

[qhong61]

What if rate drop next year how?

That's why just 12 mths will do

 

[banyan8]

so thought might as well put 2.85% 36 mths FD, earlier posts also mentioned upfront interest is better. Yes, 3 yrs is long but every month see the rates dropping also sian.

Effective 3% pa without the hassle of PET 2.

 

[~sabaisabai~]

That's why just 12 mths will do

if drop, 12mths later, u how?
if next year drop below 2%, how?

 

[kurt111494]

Correct, choose iSavvy FD and 36 months then choose to deduct from iSavvy Savings account.

Thank you bro. Now I need to wait 12 hours to transfer funds into my iSavvy Savings account first.

Bit worried coz I don't see the 2.85% interest rate shown anywhere throughout the application for now

 

[EveMuffins]

Thank you bro. Now I need to wait 12 hours to transfer funds into my iSavvy Savings account first.
Bit worried coz I don't see the 2.85% interest rate shown anywhere throughout the application for now

oh after u chose iSavvy FD, 36 months and the debiting account, u tap Proceed then the summary will show 2.85%, maturity date, interest amount. then u tap Confirm to place the FD.

 

[EveMuffins]

Effective 3% pa without the hassle of PET 2.

no need to credit salary or spend $500 on CC as well..or merry go round until forgot to leave $5k/$10k ABD then interest forfeited..

 

[peppermint7]

if drop, 12mths later, u how?
if next year drop below 2%, how?

Mayb don't put so much lor. So that you don't miss the boat. And if rates go up, you won't feel too painful.

 

[swathe]

After I place for Maybank, no upfront interest given. In Maybank internet banking it says upfront interest.

Later 3 years later, no interest given at the end. Nor have the upfront interest

 

[~sabaisabai~]

Mayb don't put so much lor. So that you don't miss the boat. And if rates go up, you won't feel too painful

Not me that worry la. Is qhong61

I'm ok with 36M

 

[~sabaisabai~]

After I place for Maybank, no upfront interest given. In Maybank internet banking it says upfront interest.

Later 3 years later, no interest given at the end. Nor have the upfront interest

Not immediate. Wait for next day

 

[swathe]

Not immediate. Wait for next day

Thanks

 

[kurt111494]

Not immediate. Wait for next day

Tomorrow public holiday though...not sure if things will go through hmmm

 

[xoxozone]

Tomorrow public holiday though...not sure if things will go through hmmm

tuesday

 

[~sabaisabai~]

Tomorrow public holiday though...not sure if things will go through hmmm

If I'm not wrong. Only weekdays but there is one member said interest is paid everyday. You let us know if you receive tomorrow or Tuesday

 

[peppermint7]

If I'm not wrong. Only weekdays but there is one member said interest is paid everyday. You let us know if you receive tomorrow or Tuesday

I've put last night after 9pm and gotten the interest today now is 5.56 am (public holiday) Thanks for sharing this with us.

 

[EveMuffins]

same here..placed iSavvy FD yesterday, received the upfront interest today.

 

[HoGnix]

Got the interest. Can take out the interest right?