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Lastest S$ Deposit updates - Part 3

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Old 08-08-2018, 03:48 PM   #2056
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regret putting in GE for 3 years for 2.05% zzzz
Ya interest rate going up. Better to put max 1 yr.

a lot of short term deposit promo now which seems to target funds to cross yr end. Even POSB joining in the fun
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Old 08-08-2018, 05:32 PM   #2057
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i dun understand why u said got charges for funds transfer... i used to have this prestige account and did some FAST transfer, they didnt charge anything...

only my last $10 seems not able to transfer out...
The link provided. If scroll down it shows the charges. Did I read it correctly ?


https://www.maybankpremierwealth.com/sg/en/solutions/prestige-savings-account.html

Last edited by vsvs24; 08-08-2018 at 05:36 PM..
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Old 08-08-2018, 07:37 PM   #2058
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regret putting in GE for 3 years for 2.05% zzzz
Still better. I put with Fwd insurance only for 2.02% for 3 years
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Old 08-08-2018, 08:02 PM   #2059
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For this promo you have to maintian 10% of fd amount in their current account. For eg, if you put $50k into fd, you need to have at least $5k in their current account.
base on $50k+$5k in fd/current account, interest for 12 months = 50,000 x 1.95% = $975
for the same amount of money ($55k) based on the previous 1.85% (online fd), the interest for 12 months = 55,000 X1.85% = $1017.50
Conclusion: the previous promo of online fd @1.85% is higher than the new 1.95% promo, that's the reason why i never consider MayBank as they are the one who started this kind of condition.
Current account is 0.25%. Actual ir is 987.50. agree u be better off if deposit 5k into esaver at 1.6% and 50k at 1.85%..,$1005..Banks think we fail maths?
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Old 08-08-2018, 08:25 PM   #2060
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regret putting in GE for 3 years for 2.05% zzzz
There's nothing to regret.
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Old 08-08-2018, 09:39 PM   #2061
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regret putting in GE for 3 years for 2.05% zzzz
How high do you think that interest rates may go up to? 2.5%? There will be serious implications ( loan rates, cpf rates etc...) if it really happens. I doubt the authority will allow rates to shoot up too much too soon.

Rather than regretting, be glad that you are already enjoying this rate everyday for the next 3 years while others are currently getting a lower rate.
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Old 08-08-2018, 10:11 PM   #2062
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How high do you think that interest rates may go up to? 2.5%? There will be serious implications ( loan rates, cpf rates etc...) if it really happens. I doubt the authority will allow rates to shoot up too much too soon.

Rather than regretting, be glad that you are already enjoying this rate everyday for the next 3 years while others are currently getting a lower rate.
Well our interest rate follows closely to US rates and is currently expected to be on the upward trend as economy recovers.

Right now you will notice banks competing more aggressively for deposits with more promotional rates especially longer dated ones to lock in the deposit. It signifies they are also of the view that rates are on the rise. Just need to look at our SIBOR trend.

The unknown however is the trump factor and the impact of the potential trade war on the economy. But we will never know for sure.
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Old 08-08-2018, 11:24 PM   #2063
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The link provided. If scroll down it shows the charges. Did I read it correctly ?


https://www.maybankpremierwealth.com...s-account.html
those are BRANCH COUNTER TRANSACTIONS. Online fast transactions no charge
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Old 09-08-2018, 03:36 AM   #2064
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Current account is 0.25%. Actual ir is 987.50. agree u be better off if deposit 5k into esaver at 1.6% and 50k at 1.85%..,$1005..Banks think we fail maths?
Ops forgot about the interest for current account.
Instead of putting 5k into esave at 1.6%, might as well add into the 50k at 1.85%, total interest = $1017.50
The banks are smart to trick people who are not so "calculative"

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Old 09-08-2018, 11:35 AM   #2065
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those are BRANCH COUNTER TRANSACTIONS. Online fast transactions no charge
Oops............
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Old 09-08-2018, 03:46 PM   #2066
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Ops forgot about the interest for current account.
Instead of putting 5k into esave at 1.6%, might as well add into the 50k at 1.85%, total interest = $1017.50
The banks are smart to trick people who are not so "calculative"
Depends on the timeframe you are ok to have the funds 'locked up'.
If you think rates will rise soon and want a better rate than 1.85%, then could keep funds temporarily in esave.
Of course, difficult to predict accurately how fast rates will rise.
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Old 09-08-2018, 07:18 PM   #2067
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Ah Neh bank always have the best deal for USD Fixed Deposits lah hahaha!

https://www.sbising.com/TD_promotions

PS: Please do not ask Ah Neh, Ah Tiong or Bolehland banks safe or not. Many SSI torpedos on standby ok!


ICBC USD 12-mth FD is 2.80%, minimum much lower than SBI, at USD 500.
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Old 09-08-2018, 07:20 PM   #2068
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ICBC - USD Fixed Deposit



ICBC USD 12-mth FD is 2.80%, minimum much lower than SBI, at USD 500.
Good sharing!

This year ICBC became very competitive.
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Old 10-08-2018, 11:20 PM   #2069
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i opened an ICBC saving account last week.. but im having problem setting up my internet banking account.. the website need me to install an extension but google chrome blocked the extension. so i tried IE, and IE doesnt seem to load the ICBC website at all.. it's so frustrating, no wonder the bank teller advised me to set up my internet banking using their computer terminal at their branch cos it's quite complicated.. which browser do you guys used to load the ICBC website?
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Old 11-08-2018, 09:34 AM   #2070
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i opened an ICBC saving account last week.. but im having problem setting up my internet banking account.. the website need me to install an extension but google chrome blocked the extension. so i tried IE, and IE doesnt seem to load the ICBC website at all.. it's so frustrating, no wonder the bank teller advised me to set up my internet banking using their computer terminal at their branch cos it's quite complicated.. which browser do you guys used to load the ICBC website?
yes i kena too...the best is bring your laptop to do at the branch.

i gave up on them after several issue with their token - can't afford to waste too much time with them. Either i m not IT savy or their cheap software issue set up. I wrote to file feedback but nothing much they can do nor their branch manager. The bank is still not ready for upgrade - so i better be safe with my transaction - they can have missing fund without any indication of why...i was shock with fear after i threat to make a police report on them. I was told to let them investigate but the money put back without reason for me.

so i immediate close the account - i hope my cases is the unfortunate one.
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