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Lastest S$ Deposit updates - Part 3

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Old 22-07-2019, 03:35 PM   #3526
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He already said at the start that the interest paid upfront lah. I think it's you who has missed out that juicy bit.
Yes, but in the calculation, he did not add in the potential interest earned for this out front payment.
Also, if I remember correctly, Maybank pay more then 0.1875% in saving account if you are already at age of 55 and above.

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Old 22-07-2019, 03:40 PM   #3527
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Yes, but in the calculation, he did not add in the potential interest earned for this out front payment.
Also, if I remember correctly, Maybank pay more then 0.1875% in saving account if you are already at age of 55 and above.
Answer to my own:
is call Privilege Plus Savings Account.
Interest rate is 0.4375% currently.
Applicable to age 50 or above.

Privilege Plus Savings Account


FirstS$3,000


0.4375% p.a.

NextS$47,000


0.4375% p.a.

Remaining balance above S$50,000

0.5000% p.a.

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Old 22-07-2019, 03:58 PM   #3528
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Heng I deposited with SBI @2.2% on Saturday which is the last day for this promo, I think rates will be falling in the near future due to the fed rate cut.
2.2%? You deposit S$1 Million is it?
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Old 22-07-2019, 03:58 PM   #3529
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not sure about falling rates...according to this bloomberg piece, rates may actually go up.

https://www.bloomberg.com/news/artic...go-up-not-down
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Old 22-07-2019, 04:10 PM   #3530
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Yes, but in the calculation, he did not add in the potential interest earned for this out front payment.
Also, if I remember correctly, Maybank pay more then 0.1875% in saving account if you are already at age of 55 and above.
Because the amount is peanuts lah.
Earn a little bit here, a little bit there also won't make you rich. Just more tired, running around in circles for a few extra cents.
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Old 22-07-2019, 04:16 PM   #3531
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2.2%? You deposit S$1 Million is it?
Oops, should be 2.05%.
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Old 22-07-2019, 05:18 PM   #3532
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Because the amount is peanuts lah.
Earn a little bit here, a little bit there also won't make you rich. Just more tired, running around in circles for a few extra cents.
yes, if the returns is not much diff
i agreed, running here and there, can be very tiring with the queuing and waiting time.

unless the amt is huge and u can see the difference

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Old 22-07-2019, 08:28 PM   #3533
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Oops, should be 2.05%.
2.2% is fake news.

Good that you clarify. Cheers!
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Old 22-07-2019, 10:50 PM   #3534
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High rate with other conditions to be met. Why simple FD needs to be tied down with savings account? Obviously it's not that simple yo. Used already then will know.
That's how some banks choose to structure their products. I don't find anything wrong with that as long as you know what you are getting yourself into.
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Old 23-07-2019, 02:25 PM   #3535
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Of course Ah Neh bank always give the best no gimmicks deal when they show hand. No other banks can match their offer!

SBI and CIMB are Mr.Canberra's favourite no gimmicks fixed depositers with competitive rates.

I want to support local banks but local banks don't support poor uncles like me leh.
yes cimb and sbi - no gimmicks
most banks need $500 in the saving account
but like u said if the quantum is huge, den $500 is fine, if they dun ask for more...

but currently sbi no more promo...
only maybank offers 2% for 24mths for min 50k placement
and its online FD
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Old 23-07-2019, 04:35 PM   #3536
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Because the amount is peanuts lah.
Earn a little bit here, a little bit there also won't make you rich. Just more tired, running around in circles for a few extra cents.
It is about capturing the offer details accurately and completely so that informed decision can be made. Nonetheless, I agreed that the difference is usually insignificant and does not worth the time and effort running around and that's why I stick with MBB and did not want to start a banking relationship with SBI.
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Old 23-07-2019, 04:58 PM   #3537
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It is about capturing the offer details accurately and completely so that informed decision can be made. Nonetheless, I agreed that the difference is usually insignificant and does not worth the time and effort running around and that's why I stick with MBB and did not want to start a banking relationship with SBI.
agreed with you.
i will do the same as well
if the interest is insignificant, then i will stay with MB or CIMB
where they have online placement, easier
save the time and transport, travelling here and there
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Old 23-07-2019, 07:51 PM   #3538
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yes cimb and sbi - no gimmicks
most banks need $500 in the saving account
but like u said if the quantum is huge, den $500 is fine, if they dun ask for more...

but currently sbi no more promo...
only maybank offers 2% for 24mths for min 50k placement
and its online FD
SBI promo @2.05% is ongoing until 31 July 2019.
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Old 24-07-2019, 01:23 AM   #3539
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Question

SBI promo @2.05% is ongoing until 31 July 2019.
SBI is it Singapore Bank of India?
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Old 24-07-2019, 02:11 AM   #3540
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SBI is it Singapore Bank of India?
No. It's State Bank of India.
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