Lastest S$ Deposit updates - Part 1

[pfeiffer]

Hi tildveryn,

Will like to know your experience with the AUD fixed deposit for the tenure that is about to mature.

- What was the rate offered then?
- What is the amount you got back upon maturity after conversion back to SGD.
- the effective interest rate.

This will help others understand better the risks in exchange rate which can work either way. Thanks.

I got 14k of AUD in fix deposit which is going to mature soon...

any good recommendation of high interest rate for AUD FD?

or should i take out as SGD and put into SGD FD?

 

[tildveryn]

Hi tildveryn,

Will like to know your experience with the AUD fixed deposit for the tenure that is about to mature.

- What was the rate offered then?
- What is the amount you got back upon maturity after conversion back to SGD.
- the effective interest rate.

This will help others understand better the risks in exchange rate which can work either way. Thanks.

have put for many many yrs... last time rate was over 5%... now dropped to 2over % at UOB
upon maturity... i didnt take out as SGD... so it's still AUD and I intend to put into RHB which is 3.8% now...

if u can find better rates pls let me know. thanks

i did a check on AUD for past 10yrs... pretty stable against SGD... so i think shd be safe?

 

[pfeiffer]

have put for many many yrs... last time rate was over 5%... now dropped to 2over % at UOB
upon maturity... i didnt take out as SGD... so it's still AUD and I intend to put into RHB which is 3.8% now...

if u can find better rates pls let me know. thanks

i did a check on AUD for past 10yrs... pretty stable against SGD... so i think shd be safe?

AUD has been strong against the SGD, as the USD and Euro took turns being battered in the past years due to their economic issues.

Exchange rates can fluctuate quite a fair bit, but if you can afford to hold in that currency if the exchange rate is against you, then you are fine.

I'm not sure of better rates as i am not into AUD. You may want to check with ANZ. At times, they can be pretty aggressive and give quite good promotional rates.

 

[wherehouse]

i intend to try out a fixed mtly deposit saving account for 1 yr, so will u guys recommend POSB savings or ocbc or cimb? btw for cimb how do u guys draw out the money?

If you really want to try.
ICICI Bank Singapore :: HiSAVE Interest Rates

1.25%pa @ 12mo
min SGD1K + $1.00 for the mandatory savings a/c
allow multiple fd / joint ac fd

 

[tildveryn]

AUD has been strong against the SGD, as the USD and Euro took turns being battered in the past years due to their economic issues.

Exchange rates can fluctuate quite a fair bit, but if you can afford to hold in that currency if the exchange rate is against you, then you are fine.

I'm not sure of better rates as i am not into AUD. You may want to check with ANZ. At times, they can be pretty aggressive and give quite good promotional rates.

yes... so i suppose AUD FD is a better investment as compared to SGD FD.
Of course there is some risk involved... but not as much as compared to other currencies...

 

[viv4080]

Sing Fin has offer promotional interest rate of 1.22%. I do not have the details.

Pls call the bank to find out more info if you are interested.

 

[DarthRevan]

Sing Fin has offer promotional interest rate of 1.22%. I do not have the details.

Pls call the bank to find out more info if you are interested.

the FD rate is 1.16% for 12mths as of today..was told that might change anytime

 

[pfeiffer]

$50,000 minimum placement.

the FD rate is 1.16% for 12mths as of today..was told that might change anytime

 

[lzydata]

Not sure if this has been posted. An old offer returns:

UOB 13-month Fixed Deposit: 1% pa
Minimum $20k fresh funds
up to 31 Dec 2012

UOB : Singapore Dollar Fixed Deposit

 

[lzydata]

From 2 January 2013, for a limited time period only.

12-Months SGD Time Deposits
Amount SGD Interest Rate % p.a.
$10,000 - $49,999 1.16%
$50,000 - $199,999 1.18%
$200,000 - $499,999 1.20%
>= $500,000 1.22%

Preferential interest rates for 12-MTH SGD Time Deposits! | Bank of China @ Singapore

 

[muhaimin0701]

Most of the banks need at least $10k minimum.... I do not even have that amount.... Sad, wanted to try FD...

 

[Mayhem69]

Go for CIMB saving account. 0.8% pa

 

[muhaimin0701]

Go for CIMB saving account. 0.8% pa

Oh right now I have an account with Maybank but I am afraid if I were to close my acc, they will charge a fee.

 

[DarthRevan]

$50,000 minimum placement.

yup..you are correct..forgot to mention that in my post

 

[neon82]

SCB step up time deposit promo is still ava till monday

everi 3 mth can take out if wan

for 12mth interest only 0.01% less than Boc.

From 2 January 2013, for a limited time period only.

12-Months SGD Time Deposits
Amount SGD Interest Rate % p.a.
$10,000 - $49,999 1.16%

Preferential interest rates for 12-MTH SGD Time Deposits! | Bank of China @ Singapore

 

[tildveryn]

SCB step up time deposit promo is still ava till monday

everi 3 mth can take out if wan

for 12mth interest only 0.01% less than Boc.

hope they will extend to Jan... so that i can transfer from other maturing FD

 

[lzydata]

Maybank's 6-month FD promotion (1.00% pa minimum $50k) was posted earlier. Here is another one:

Singapore Dollar Islamic Term Deposit-i

Upfront profit rates for Singapore Dollar Term Deposit-i (%p.a.)

Normal
Month(s)
3 0.4000
6 0.5000
12 0.8000
24 1.2000

Senior Citizens
3 N.A.
6 0.7500
12 1.0500
24 1.4500

Minimum initial deposit

S$10,000 for 12 and 24 months tenure
S$25,000 for 3 and 6 months tenure

For customers who are 55 years of age and above who wish to enjoy 0.25% above prevailing profit rates:

S$50,000 for at least 6 months
S$25,000 for at least 12 months

 

[pfeiffer]

CIMB Why Wait Fixed Deposit-i

Minimum Deposit: S$1,000
Promotional Rate*

Cash upfront for 12 months* 1.05% p.a.
Cash upfront for 6 months* 0.75% p.a.

Muhaimin, I'm sure you have minimum of $1,000 to take part in this offer!

Most of the banks need at least $10k minimum.... I do not even have that amount.... Sad, wanted to try FD...

 

[lzydata]

Fresh funds deposit* of min. S$10,000 | Additional Interest Rates* (p.a.)

S$10,000 to S$50,000 0.7%
Above S$50,000 to S$100,000 0.8%
Above S$100,000 0.9%

Get up to 1.0% p.a.* (maximum total interest rate). Here’s how: 0.9% p.a. (additional interest rate) + 0.1% p.a. (prevailing interest rate) assuming a deposit of above S$100,000.

This promotion for UOB Passbook Savings and Uniplus Account ends 28 February 2013, speak to us today.

UOB : Deposits Promotion

 

[lzydata]

Not sure if this has been posted. An old offer returns:

UOB 13-month Fixed Deposit: 1% pa
Minimum $20k fresh funds
up to 31 Dec 2012

UOB : Singapore Dollar Fixed Deposit

Offer is renewed from 2 Jan 2013 to 31 Jan 2013, same link.