HWZ Forums

Login Register FAQ Mark Forums Read

Lastest S$ Deposit updates - Part 3

Like Tree744Likes
Reply
 
LinkBack Thread Tools
Old 19-10-2019, 10:24 AM   #3721
Master Member
 
dude123's Avatar
 
Join Date: Dec 2007
Posts: 2,546
AIA single premium fixed 2% p.a for 2years
Min 10k max 30k
Good for those looking short term
Mr.Canberra likes this.
dude123 is offline   Reply With Quote
Old 19-10-2019, 10:32 AM   #3722
Senior Member
 
Join Date: Feb 2018
Posts: 2,224
AIA single premium fixed 2% p.a for 2years
Min 10k max 30k
Good for those looking short term
Not fantastic. Might as well put in FD or Maybank isavvy. The con of these insurance is that you lose even part of your capital if you need to "withdraw" before maturity (in case need the money or later have better opportunity for the money). For 2% only not worth losing the liquidity.

This is the lesson I learnt.
vsvs24 is offline   Reply With Quote
Old 19-10-2019, 02:27 PM   #3723
Arch-Supremacy Member
 
Join Date: Nov 2015
Posts: 14,628
Not fantastic. Might as well put in FD or Maybank isavvy. The con of these insurance is that you lose even part of your capital if you need to "withdraw" before maturity (in case need the money or later have better opportunity for the money). For 2% only not worth losing the liquidity.

This is the lesson I learnt.
Agreed. Though not Maybank...
qhong61 is offline   Reply With Quote
Old 19-10-2019, 03:19 PM   #3724
Senior Member
 
Join Date: Feb 2018
Posts: 2,224
Agreed. Though not Maybank...
What's wrong with Maybank?
vsvs24 is offline   Reply With Quote
Old 19-10-2019, 07:05 PM   #3725
Great Supremacy Member
 
Join Date: Sep 2004
Posts: 53,172
BEA 12 months @ 2%pa for 100K >
This is one of the best around, i think,
saintgtril is offline   Reply With Quote
Old 19-10-2019, 08:43 PM   #3726
Member
 
sgreview's Avatar
 
Join Date: Sep 2018
Posts: 150
Agreed. Though not Maybank...
What's wrong with Maybank?
Ya, curious too.. what's wrong with Maybank?
sgreview is offline   Reply With Quote
Old 19-10-2019, 08:48 PM   #3727
Member
 
sgreview's Avatar
 
Join Date: Sep 2018
Posts: 150
Not fantastic. Might as well put in FD or Maybank isavvy. The con of these insurance is that you lose even part of your capital if you need to "withdraw" before maturity (in case need the money or later have better opportunity for the money). For 2% only not worth losing the liquidity.

This is the lesson I learnt.
Thanks for sharing. Good point, but usually $$ put in FD or endowment are meant to stay till maturity to reap the rewards, so more of for your spare cash that u are quite certain u can do without for a few years. 2 years consider not very long, so for well-planned finance sld not be big issue. If more than 10yrs kind of endowment plan, then more uncertainty if u need the money down the road and will lose part of capital if u withdraw early.
sgreview is offline   Reply With Quote
Old 19-10-2019, 09:12 PM   #3728
Senior Member
 
Hoo8899's Avatar
 
Join Date: May 2010
Posts: 826
https://www.hsbc.com.sg/insurance/pr...ine-endowment/

3 years at 2.5%, any comments?
Hoo8899 is offline   Reply With Quote
Old 19-10-2019, 10:05 PM   #3729
Supremacy Member
 
Join Date: Mar 2003
Posts: 8,852
anyone can explain in laymen term, how does Citi MaxiGain earn the interest?


the min is 70k. so if i mantain at 70k i achieve 2.2% interest p.a. (1% base + 1.2% p.a. bonus) from the 13th month onwards until i closed account or interest rate change?


thanks
The_King is offline   Reply With Quote
Old 19-10-2019, 10:38 PM   #3730
Supremacy Member
 
testingabc's Avatar
 
Join Date: Sep 2013
Posts: 7,560
anyone can explain in laymen term, how does Citi MaxiGain earn the interest?


the min is 70k. so if i mantain at 70k i achieve 2.2% interest p.a. (1% base + 1.2% p.a. bonus) from the 13th month onwards until i closed account or interest rate change?


thanks
yes, you get the max interest rate on counter 12, unless the TOC change. Currently the sibor rate is 1.87 so you can get 2.5% this month if you are on counter 12. Will recommend put 15K to build max counter.
__________________
Specialize in iCatch CCTV
testingabc is offline   Reply With Quote
Old 19-10-2019, 11:29 PM   #3731
Junior Member
 
Join Date: Oct 2010
Posts: 23
this link doesn't seem to be working anymore, is the promo still on?
-------------

Is the above promo same as the Sep-Dec @ 2.1% promo
https://info.maybank2u.com.sg/promot...ds-top-up.aspx

Anyone knows how this work? Only got 2.1% for 3 months from Sep to Dec?
Yes, the Maybank 2.1% fix deposit promo for 9 months is still on. I just did a fresh funds deposit on Friday at their Jurong East branch
dragon_fly is offline   Reply With Quote
Old 20-10-2019, 01:11 AM   #3732
Supremacy Member
 
Join Date: Mar 2003
Posts: 8,852
Will recommend put 15K to build max counter.
you mean 70k + another 15k?


got link to the max counter? cause i cant find any


thanks
The_King is offline   Reply With Quote
Old 20-10-2019, 01:30 AM   #3733
Senior Member
 
Join Date: Feb 2018
Posts: 2,224
you mean 70k + another 15k?


got link to the max counter? cause i cant find any


thanks
There is a thread on Citibank Maxigain. Go read up there (from Jan 2019 onwards as they changed the tnc then).

He means start with 15k first to grow the counter. 15k is the amount to avoid fall below fee. After counter grow then topup to 70k. This is so that the 55k can earn better interest elsewhere. As to when you should topup to 70k depends on the comparison to how much interest the 55k is generating.

Btw, Citibank Maxigain can deposit cannot withdraw. Interest earned can withdraw that month. Cannot withdraw amount you placed in the account. If you do so, counter will drop. This is a stopper for some people.
The_King likes this.
vsvs24 is offline   Reply With Quote
Old 20-10-2019, 05:05 PM   #3734
Senior Member
 
Join Date: May 2000
Posts: 1,930
No good.

Interest rate is tiered. Don't be tricked.

$100,000 effective interest rate is about 1.41% only. $75,000 EIR is 1.21%. $50,000 EIR is 1.05%.
As usual...bank's gimmick. Be aware!
apengrg is offline   Reply With Quote
Old 20-10-2019, 09:17 PM   #3735
Supremacy Member
 
testingabc's Avatar
 
Join Date: Sep 2013
Posts: 7,560
you mean 70k + another 15k?


got link to the max counter? cause i cant find any


thanks
nope, i mean start Citibank Maxigain with 15K and leave the rest at your other bank account with higher interest rates, once counter is high you can top up to 70K or more depends on you.
The_King likes this.
__________________
Specialize in iCatch CCTV
testingabc is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On