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Deposits (non FD) to consider to manage concentration risks

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Old 03-08-2020, 12:34 AM   #91
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Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

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EIR 1.008 at 11mo
Might as well Singlife and gain liquidity
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Old 03-08-2020, 12:47 AM   #92
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Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT
Yup! Did that last month.
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Old 03-08-2020, 12:49 AM   #93
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EIR 1.008 at 11mo
Might as well Singlife and gain liquidity
Different products and underwriting risks.
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Old 03-08-2020, 12:59 AM   #94
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EIR 1.008 at 11mo
Might as well Singlife and gain liquidity
Shouldn't EIR be the same? It's just a simple FD at 1.1% for 11 months.
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Old 03-08-2020, 09:52 AM   #95
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EIR 1.008 at 11mo
Might as well Singlife and gain liquidity
It is already stated at 1.1% p.a. for 11 months. you get 11/12 of the 1.1% because the FD is for 11 months. You get 12/12 of the 1.1% if your FD is 12 months.
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Old 03-08-2020, 10:47 AM   #96
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Anyway just to share, posb FD 10/11mths @ 1.1% up to $49999. Save some headache with interests updating during this covid period

Sent from Xiaomi REDMI NOTE 9 PRO using GAGT
Thanks for sharing. I think 10 months should be fine since I don't foresee interest rate to go up in the next 10 months for other banks so giving up some flexibility here should be fine.
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Old 03-08-2020, 11:07 AM   #97
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Shouldn't EIR be the same? It's just a simple FD at 1.1% for 11 months.
Correct computation. Interest rate is always stated as per year. Pity that the max amount is $49,999. Work around is to establish additional FD with joint account holder.
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Old 03-08-2020, 11:10 AM   #98
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Thanks for sharing. I think 10 months should be fine since I don't foresee interest rate to go up in the next 10 months for other banks so giving up some flexibility here should be fine.
Do consider placing FD quickly as I won't surprised DBS to reduce the rates.
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