Lastest S$ Deposit updates - Part 1

[henrylbh]

3.5% pa guaranteed , did they mention 100%capital guarantee after 5 yr ?

Went to see the bank this morning.

Yes capital guaranteed by the bank. Yes fixed 3.5% pa also guaranteed but only for those days that 6MSOR is below 1% in first year, 1.2% in second year .... 1.8% in fifth year. If 6MSOR above the reference rate, no interest. It is a callable SD.

Not attractive enough to tie my fund.

 

[tiny]

Went to see the bank this morning.

Yes capital guaranteed by the bank. Yes fixed 3.5% pa also guaranteed but only for those days that 6MSOR is below 1% in first year, 1.2% in second year .... 1.8% in fifth year. If 6MSOR above the reference rate, no interest. It is a callable SD.

Not attractive enough to tie my fund.

Did the bank assign a chiobu relationship manager to chat with you? Got give away half ball?

 

[henrylbh]

Did the bank assign a chiobu relationship manager to chat with you? Got give away half ball?

Yes a chio bu with cleavage. Difficult trying to keep my eyes away. Though I did not buy the product she insisted to walk me out to the door.

 

[chopra]

which branch

 

[henrylbh]

which branch

Raffles branch. But you cant see her around as she is not outside and I never seen her when I was there for about half hour twice for some other matters. May be the bank assigned her to me because I not tiko.

 

[rerear]

That 6MSor offer was 5.5%... just that now dropped to 3.5%.

 

[greddy88]

chanced upon this.. seems good.. other than the required online transactions every month, anyone has found out any other catch with this?

Bank Account | Savings Account | 360 Account | OCBC Bank

 

[dreant]

chanced upon this.. seems good.. other than the required online transactions every month, anyone has found out any other catch with this?

Bank Account | Savings Account | 360 Account | OCBC Bank

If you do the math, the *maximum* interest is effectively 0.69%pa, and that's by having exactly $50,000 with them.

Anything more, or less, and the interest rate drops.

Balance; effective (higher) interest rate.
@$25k; 0.10%
@$30k; 0.30%
@$35k; 0.44%
@$40k; 0.54%
@$50k; 0.69% (highest, it just keeps going down from here)
@$60k; 0.61%
@$80k; 0.51%
@$100k; 0.45%
@$200k; 0.32%
@$500k; 0.25%

CIMB StarSaver's 0.8%p.a still beats this hands down.

If you weren't able to hit the incremental balance required, you still get 0.5%.

 

[henrylbh]

That 6MSor offer was 5.5%... just that now dropped to 3.5%.

Much better than now though reference rate was 0.9% 6MSOR.

 

[greddy88]

Not the 1.28 advertised?
That's super misleading!
I actually thought of taking money out from cimb and put there. ..

 

[dreant]

Not the 1.28 advertised?
That's super misleading!
I actually thought of taking money out from cimb and put there. ..

 

[tmengyew]

It's a decent product, better yield than FDs but I should clarify that it is 1.68% effective annual yield.

What may be a problem with these products is what happens if you terminate early... likely the fees / penalties are high.

Yes, u loss if u withdraw before maturity.

 

[GetFuzzy]

Hi guys.. Just to check with you all... What does cashier order mean? Is it that you pay the bank $10k up front and you get the $10k cashier order named to the recipient. This cashier order can only be banked in by the recipient right? What if you lose the cashier order? Does it mean that you lose the 10k?

TIA.

 

[whitesand]

Cashier order is essentially a chq issued by the bank. The different between this bank chq and my chq is the if you have your name on it, the issuing back will guarantee to pay you the amt stated and it will not bounce. If I issue my personal chq to you, you run the risk of chq bounce, especially when you had had already given something of value to me, and I may run away. Of course if the chq bounce, you can sue me later, but that is troublesome. So, the cashier order is a "sure have money" chq.

In order to issue the cashier order and undertake that guarantee, the bank will ask me to give them the money first, plus a small admin fee for that cashier order. You, the payee can only bank into your bank account, and will be treated like a normal chq if you bank account is not of the same bank; meaning you can only use the money the next day after 2 pm (because of interbank clearing).

In the case of losing the cashier order, I can go back to the issuing bank to cancel the cashier order, provided it has not been cleared. That, the bank will charge additional fee, and I can still have my money back.

I hope I get it right.

Hi guys.. Just to check with you all... What does cashier order mean? Is it that you pay the bank $10k up front and you get the $10k cashier order named to the recipient. This cashier order can only be banked in by the recipient right? What if you lose the cashier order? Does it mean that you lose the 10k?

TIA.

 

[lzydata]

SGD & USD Term Deposits Promotion

25,000 › 199,999 200,000 › 500,000
SGD 6 Months 0.65% p.a. 0.85% p.a.
12 Months 0.85% p.a. 1.05% p.a.

Promotions on SBI banking services Singapore

Open to fresh and old funds, at least SGD/USD 25k.

 

[maxin76]

Just renewed an 12-months joint FD @ 1.08%p.a. with Sing Investments & Finance Limited today. Initially, we wanted to withdraw all principal and its interests.

The Officer asked if it is because of 'unfavourable' interest rates. 'Yes!'; we answered. We asked for 1.08%p.a., which is also concurrently offered by UOB and OCBC. She sought for O/I-C's approval successfully.

 

[lzydata]

Just renewed an 12-months joint FD @ 1.08%p.a. with Sing Investments & Finance Limited today. Initially, we wanted to withdraw all principal and its interests.

The Officer asked if it is because of 'unfavourable' interest rates. 'Yes!'; we answered. We asked for 1.08%p.a., which is also concurrently offered by UOB and OCBC. She sought for O/I-C's approval successfully.

Wah so easy-going

 

[mosmos]

Just renewed an 12-months joint FD @ 1.08%p.a. with Sing Investments & Finance Limited today. Initially, we wanted to withdraw all principal and its interests.

The Officer asked if it is because of 'unfavourable' interest rates. 'Yes!'; we answered. We asked for 1.08%p.a., which is also concurrently offered by UOB and OCBC. She sought for O/I-C's approval successfully.

What is your past 12mth FD interest rate~?

 

[demongod]

so UOB currently is the best?

 

[alive689]

I'm interested in the CIMB's starsaver ac with 0.8% interest. anybody knows if there are any extra charges for the account? eg. fees for withdrawal or funds transfer to other SG banks?