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Lastest S$ Deposit updates - Part 3

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Old 31-03-2019, 12:21 AM   #3136
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Hi silly question. I want to open an ICBC fixed deposit account.

Cos other than CIMB, my experience with other banks usually involve going down with my cashier's order from my matured FD and doing it the old fashioned way.

Is it possible to go down to the ICBC branch and just open an account with internet banking service and open a Step up/FD account with no $ initially and subsequently transfer in via FAST like i do with CIMB? As this time, i have no time to go take out cashier's orders from my other banks.
(granted CIMB can do everything via online, even the original 1k deposit via FAST into their fast saver).

Any help is appreciated.
I think it is possible to open ICBC savings/current account with 0 balance and then fast transfer in later. But just in case bring $500 cash with you.

For step up FD, I think you need to do it at bank so need to have the cashier's order. But the normal FD you can fast in later. In fact it is better as placement of FD online have higher interest.

Be prepared to wait a while for account opening because they give you everything on the spot - internet banking token, ATM card. At SIMEI branch, they also have a PC and staff to guide you on how to use their internet banking.
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Old 31-03-2019, 12:23 AM   #3137
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Hi silly question. I want to open an ICBC fixed deposit account.

Cos other than CIMB, my experience with other banks usually involve going down with my cashier's order from my matured FD and doing it the old fashioned way.

Is it possible to go down to the ICBC branch and just open an account with internet banking service and open a Step up/FD account with no $ initially and subsequently transfer in via FAST like i do with CIMB? As this time, i have no time to go take out cashier's orders from my other banks.
(granted CIMB can do everything via online, even the original 1k deposit via FAST into their fast saver).

Any help is appreciated.
ICBC ask you to deposit atleast 500 at the branch while opening the account. But I have seen exception made, when someone said he only had 100, they still allowed him to open the account with just 100.
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Old 31-03-2019, 12:36 AM   #3138
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ICBC ask you to deposit atleast 500 at the branch while opening the account. But I have seen exception made, when someone said he only had 100, they still allowed him to open the account with just 100.
I open a joint current account in Apr 2018. They say need min $500. I open a single current account in Jul 2018, they say no deposit needed. Not sure if change of rules. Anyway, just bring $500 cash just in case.
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Old 31-03-2019, 12:55 AM   #3139
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These days what are the good deposits ard? Looking at monthly returns... got uob, dbs, boc and maybank liao.. will shut down maybank and boc nxt month
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Old 31-03-2019, 01:06 AM   #3140
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These days what are the good deposits ard? Looking at monthly returns... got uob, dbs, boc and maybank liao.. will shut down maybank and boc nxt month
Maybe can state the expected % P.A that are consider good deposit to you or list down your existing accounts % P.A?
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Old 31-03-2019, 08:21 AM   #3141
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I think it is possible to open ICBC savings/current account with 0 balance and then fast transfer in later. But just in case bring $500 cash with you.

For step up FD, I think you need to do it at bank so need to have the cashier's order. But the normal FD you can fast in later. In fact it is better as placement of FD online have higher interest.

Be prepared to wait a while for account opening because they give you everything on the spot - internet banking token, ATM card. At SIMEI branch, they also have a PC and staff to guide you on how to use their internet banking.
Thanks. Yeah just no time to get a cashier order for one big lump sum. Can set up account first is good.
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Old 31-03-2019, 09:17 AM   #3142
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Can't seem to reply thanks to the other two replies. Thanks guys
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Old 31-03-2019, 02:30 PM   #3143
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I think it is possible to open ICBC savings/current account with 0 balance and then fast transfer in later. But just in case bring $500 cash with you.

For step up FD, I think you need to do it at bank so need to have the cashier's order. But the normal FD you can fast in later. In fact it is better as placement of FD online have higher interest.

Be prepared to wait a while for account opening because they give you everything on the spot - internet banking token, ATM card. At SIMEI branch, they also have a PC and staff to guide you on how to use their internet banking.
Based on what I see from the FD options available via the ICBC app, step-up FD can also be done online.

Just need to bring $500 cash to open the basic saving account.
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Old 31-03-2019, 05:40 PM   #3144
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Based on what I see from the FD options available via the ICBC app, step-up FD can also be done online.

Just need to bring $500 cash to open the basic saving account.
Oh. That's good. I already have a current account and placed 1 FD and 2 stepup FD. My FD is due next mth and I am planning to continue under ICBC but under step up FD.
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Old 01-04-2019, 12:25 PM   #3145
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Yeah. Esaver rate higher this cycle.
https://www.sc.com/sg/save/savings-accounts/esaver/
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Old 01-04-2019, 02:54 PM   #3146
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RHB 20K above 24 mths @ 2.18%
After 12 mths if terminate still get 2% interest.
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Old 01-04-2019, 02:56 PM   #3147
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This is good

RHB 20K above 24 mths @ 2.18%
After 12 mths if terminate still get 2% interest.
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Old 01-04-2019, 03:13 PM   #3148
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Did renewal at bank of Bkk today at 2.1%

Just to share a snippet of the writeup I found online for those concern with the association between bank Bkk and hyflux.

The six identified lenders were: Mizuho, which holds $235.2m of Hyflux debt; KFW IPEX-Bank GmbH, which holds $136m; Bangkok Bank, which holds $115.6m; DBS, which holds $93.6m; Arab Banking Corporation, which holds $33.1m; and The Hongkong and Shanghai Banking Corporation Singapore Branch, which holds $4.4m.
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Old 02-04-2019, 07:34 AM   #3149
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RHB 20K above 24 mths @ 2.18%
After 12 mths if terminate still get 2% interest.
Website shows 1.88%.
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Old 02-04-2019, 09:56 AM   #3150
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Did renewal at bank of Bkk today at 2.1%

Just to share a snippet of the writeup I found online for those concern with the association between bank Bkk and hyflux.

The six identified lenders were: Mizuho, which holds $235.2m of Hyflux debt; KFW IPEX-Bank GmbH, which holds $136m; Bangkok Bank, which holds $115.6m; DBS, which holds $93.6m; Arab Banking Corporation, which holds $33.1m; and The Hongkong and Shanghai Banking Corporation Singapore Branch, which holds $4.4m.
Actually Maybank has the most. I think about 500m. They were the only secured bank against Tuaspring and considered safe until PUB announced takeover at zero. But Maybank is more established and larger than the 1 branch Bangkok Bank.

Is your FD amount below SDIC 75k ? Why take the risk ?
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