HWZ Forums

Login Register FAQ Mark Forums Read

Deposits (non FD) to consider to manage concentration risks

Like Tree12Likes
Reply
 
LinkBack Thread Tools
Old 12-07-2020, 10:57 AM   #61
Senior Member
 
Join Date: Aug 2012
Posts: 958
Any return that is too good, just be careful. There is no free lunch in tis world...
There is no free lunch. For deposits with higher interest rates, they usually require some hoops to jump. For protection, consider to spread your fund across deposit accounts to leverage the SDIC protection.
F1ngolf2012 is offline   Reply With Quote
Old 12-07-2020, 11:02 AM   #62
Senior Member
 
Join Date: Aug 2012
Posts: 958
BANK / S$ / % p.a.

DBS Multiplier (income+2 cat) -- / 50,000 / 3.5
SingLife --------------------------- / 10,000 / 2.5
BOC SmartSaver (2 conditions) - / 60,000 / 1.95
UOB One (2 conditions) --------- / 75,000 / 1.8
RHB HYSA ------------------------ / 100,000 / 1.375
SIF GoSaver (>160k) ------------ / 108,700 / 1.2
SIF GoSaver ---------------------- / 160,000 / 1.09375


My current funds allocation till 15Jul'20 ...
Good list. Thanks for sharing.
SIF reduced rates will kick in 15 July. You can consider opening another cat for DBS Multiplier to bump the deposit amount to 100k where the additional 50k earns 3.8%.
F1ngolf2012 is offline   Reply With Quote
Old 12-07-2020, 11:04 AM   #63
Senior Member
 
Join Date: Aug 2012
Posts: 958
Your above is history leow. Check with most financial institutions. Most giving below 1% for FD now.
The deposits are not FD as mentioned by direbmem. For 10 mth FD up to $49,999, you can consider DBS at 1.1%p.a.
F1ngolf2012 is offline   Reply With Quote
Old 12-07-2020, 01:58 PM   #64
Supremacy Member
 
Join Date: Apr 2001
Posts: 6,811
BANK / S$ / % p.a.

DBS Multiplier (income+2 cat) -- / 50,000 / 3.5

My current funds allocation till 15Jul'20 ...
This gonna change soon 01August right.
Income+3cat totaling 30k ,+ 50k deposits = 3.8

alex22 is offline   Reply With Quote
Old 12-07-2020, 06:04 PM   #65
Arch-Supremacy Member
 
direbmem's Avatar
 
Join Date: Apr 2005
Posts: 11,037
Good list. Thanks for sharing.
SIF reduced rates will kick in 15 July. You can consider opening another cat for DBS Multiplier to bump the deposit amount to 100k where the additional 50k earns 3.8%.
if sign up insurance, a few mths later they drop the insurance can still terminate insurance without penalty?
__________________
每段故事都有一篇剧情
每段爱情都像动人旋律
一颗真心却只向着你前进
也许爱越单纯越着迷

你是窗外另外一片风景
在你眼里我是什么关系
你的呼吸藏在我的爱情里
何时能诚实面对自己

我们从不开口那个言语
那一句我爱你
永远像少了勇气
别人都说
我和你之间的关系
没有人相信只有关心

我们从不正视那个问题
那一些[color=#e10900]是非题[/color]
总让人伤透脑筋
我会期待
爱情盛开那一个黎明
一定会有美丽的爱情
direbmem is offline   Reply With Quote
Old 12-07-2020, 06:20 PM   #66
Senior Member
 
Join Date: Aug 2012
Posts: 958
if sign up insurance, a few mths later they drop the insurance can still terminate insurance without penalty?
My plan is to sign up CancerCare this month to unlock the Insurance category next month. I understand that I can cancel anytime except they may crawl back the current 35% discount promo if I terminate within 12 months. I don't know about other insurance policy.
F1ngolf2012 is offline   Reply With Quote
Old 13-07-2020, 01:00 AM   #67
Member
 
Join Date: May 2002
Posts: 418
Looking through the HWZ threads, thought I list down the banks/finance company and insurance linked day2day deposits (non FD) we could consider to manage concentration risks according category:

Banks/Finance company without hoops
1. Maybank iSavvy/Prestige (2 month promo cycle)
2. SCB eSaver (2month promo cycle)
3. CIMB Fastsaver/Starsaver
4. SIF Gosaver
5. RHB HYSA Plus

Banks/Finance company with hoops
1. DBS Multiplier
2. HSBC EGA Set Up
3. BOC Smartsaver
4. SCB BonusSaver
5. OCBC 360
6. UOB One

Insurance-link
1. Singlife - $10k@ 2.5%
2. Etiqa Elastiq/SAVE3
3. DASH Easyearn

Last but not least, CPF OA contribution/housing refund for those near or after 55.

Feel free to add or refine above list. More helpful if you share your good practices and experiences for the benefits of all.
Nice compilation. Thought it would be even more useful if we could indicate the current interest rates, as well as the deposit limits of each account, e.g. GoSaver is up to 300K and HYSA+ 100K, the rest have no cap? And for those with hoops, possible to state the hoops?

Also, anyone has a list of deposit accounts (non FD), for higher amounts such as >500k.
naturelover is offline   Reply With Quote
Old 13-07-2020, 01:49 AM   #68
Senior Member
 
Join Date: Aug 2012
Posts: 958
Nice compilation. Thought it would be even more useful if we could indicate the current interest rates, as well as the deposit limits of each account, e.g. GoSaver is up to 300K and HYSA+ 100K, the rest have no cap? And for those with hoops, possible to state the hoops?

Also, anyone has a list of deposit accounts (non FD), for higher amounts such as >500k.
The purpose of the list is to provide a quick view on what are the deposit options (with better interest rates) for consideration to manage concentration risks. e.g. someone with $1mil deposit can consider splitting the deposits to 3/4 options.
While it would be helpful to provide details like the current deposit rates, corresponding amount, limits, features, etc...it may be too overwhelming with the recent flood of interest rates and limits revisions.
Anw, this was not the intent of this thread. However, this list would provide some directions on where to look for deposit options which offer better interest rates.

Aside from RHB Premier+, for amount >$500k, you can consider HSBC EGA (limit $2mil) Step Up Promo if you don't mind it is only a 3 month cycle.
F1ngolf2012 is offline   Reply With Quote
Old 16-07-2020, 06:29 AM   #69
Master Member
 
Join Date: Sep 2002
Posts: 4,976
Useful thread. Thanks to TS for starting this.
Shutterfly is offline   Reply With Quote
Old 16-07-2020, 09:02 AM   #70
Senior Member
 
Join Date: Jun 2019
Posts: 1,092
Nice compilation. Thought it would be even more useful if we could indicate the current interest rates, as well as the deposit limits of each account, e.g. GoSaver is up to 300K and HYSA+ 100K, the rest have no cap? And for those with hoops, possible to state the hoops?

Also, anyone has a list of deposit accounts (non FD), for higher amounts such as >500k.
up for this suggestions for a 1 qquick look to get up to date
Torenoo is offline   Reply With Quote
Old 16-07-2020, 09:11 AM   #71
Senior Member
 
Join Date: Aug 2012
Posts: 958
Useful thread. Thanks to TS for starting this.
Wonderful to know that you find this useful.
Shutterfly likes this.
F1ngolf2012 is offline   Reply With Quote
Old 16-07-2020, 07:01 PM   #72
Junior Member
 
Join Date: Oct 2012
Posts: 68
BANK / S$ / % p.a.

DBS Multiplier (income+2 cat) -- / 50,000 / 3.5
SingLife --------------------------- / 10,000 / 2.5
BOC SmartSaver (2 conditions) - / 60,000 / 1.95
UOB One (2 conditions) --------- / 75,000 / 1.8
RHB HYSA ------------------------ / 100,000 / 1.375
SIF GoSaver (>160k) ------------ / 108,700 / 1.2
SIF GoSaver ---------------------- / 160,000 / 1.09375


My current funds allocation till 15Jul'20 ...
From august:
- DBS multiplier reduced to 2.8% for <$50K
- BOC SS reduced to max 0.95% for $80K for 2 cat (assume its Sal and Payment cat for you)
- UOB One reduced to 1.2% PA for $75K (2 cat)
josc36 is offline   Reply With Quote
Old 17-07-2020, 04:27 AM   #73
Arch-Supremacy Member
 
direbmem's Avatar
 
Join Date: Apr 2005
Posts: 11,037
From august:
- DBS multiplier reduced to 2.8% for <$50K
- BOC SS reduced to max 0.95% for $80K for 2 cat (assume its Sal and Payment cat for you)
- UOB One reduced to 1.2% PA for $75K (2 cat)
Yup will adjust come Aug'20...meanwhile funds allocation as below from 16Jul till end Aug:

My funds allocation from now till end of Aug'20 ...

BANK ------------------------ S$ ---------- % p.a. --- est. S$/MTH
DBS (income+2 cat) -------- 50,000 -------- 3.5 ------- 145.83
SingLife ---------------------- 10,000 -------- 2.5 ------- 20.83
BOC -------------------------- 60,000 -------- 1.95 ------ 97.50
UOB -------------------------- 75,000 -------- 1.8 ------- 112.50
RHB -------------------------- 100,000 ------- 1.375 ---- 114.58
BOC (>60K) ----------------- 177,700 ------- 1 --------- 148.08
SingLife (>10K) ------------- 90,000 -------- 1 --------- 75.00

TOTAL ------------------------ 562,700 ------------------ 714.33
Shutterfly and F1ngolf2012 like this.
__________________
每段故事都有一篇剧情
每段爱情都像动人旋律
一颗真心却只向着你前进
也许爱越单纯越着迷

你是窗外另外一片风景
在你眼里我是什么关系
你的呼吸藏在我的爱情里
何时能诚实面对自己

我们从不开口那个言语
那一句我爱你
永远像少了勇气
别人都说
我和你之间的关系
没有人相信只有关心

我们从不正视那个问题
那一些[color=#e10900]是非题[/color]
总让人伤透脑筋
我会期待
爱情盛开那一个黎明
一定会有美丽的爱情
direbmem is offline   Reply With Quote
Old 17-07-2020, 09:36 AM   #74
Senior Member
 
Join Date: Aug 2012
Posts: 958
Yup will adjust come Aug'20...meanwhile funds allocation as below from 16Jul till end Aug:

My funds allocation from now till end of Aug'20 ...

BANK ------------------------ S$ ---------- % p.a. --- est. S$/MTH
DBS (income+2 cat) -------- 50,000 -------- 3.5 ------- 145.83
SingLife ---------------------- 10,000 -------- 2.5 ------- 20.83
BOC -------------------------- 60,000 -------- 1.95 ------ 97.50
UOB -------------------------- 75,000 -------- 1.8 ------- 112.50
RHB -------------------------- 100,000 ------- 1.375 ---- 114.58
BOC (>60K) ----------------- 177,700 ------- 1 --------- 148.08
SingLife (>10K) ------------- 90,000 -------- 1 --------- 75.00

TOTAL ------------------------ 562,700 ------------------ 714.33
Good spread to manage concentration risk and achieve EIR 1.523%p.a. Of course, EIR would reduce come August.

Wonder why you did not consider Etiqa at 1.8%p.a. since you are comfortable with insurance link deposit like Singlife?
F1ngolf2012 is offline   Reply With Quote
Old 17-07-2020, 09:42 AM   #75
Master Member
 
Join Date: Sep 2002
Posts: 4,976
Yup will adjust come Aug'20...meanwhile funds allocation as below from 16Jul till end Aug:

My funds allocation from now till end of Aug'20 ...

BANK ------------------------ S$ ---------- % p.a. --- est. S$/MTH
DBS (income+2 cat) -------- 50,000 -------- 3.5 ------- 145.83
SingLife ---------------------- 10,000 -------- 2.5 ------- 20.83
BOC -------------------------- 60,000 -------- 1.95 ------ 97.50
UOB -------------------------- 75,000 -------- 1.8 ------- 112.50
RHB -------------------------- 100,000 ------- 1.375 ---- 114.58
BOC (>60K) ----------------- 177,700 ------- 1 --------- 148.08
SingLife (>10K) ------------- 90,000 -------- 1 --------- 75.00

TOTAL ------------------------ 562,700 ------------------ 714.33
Thanks for sharing. Very impressive to achieve $700 monthly interest during this difficult time. I have not looked at BOC... Maybe will check that out.
Shutterfly is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On