BOC SmartSaver

[reddevil0728]

not really a risk actually as it is a paylater transaction, so no choice even I don't want to...

then no material difference right?

 

[Cumzilla]

then no material difference right?

have, cos I already hit 500 this month, so of course it will be better that it is posted next month...

 

[reddevil0728]

have, cos I already hit 500 this month, so of course it will be better that it is posted next month...

yea but is beyond your control ma

 

[ekardo]

ya...BOC freaking slow in updating the credit spent..but for the high interest I lun....

 

[Moowoow]

ya...BOC freaking slow in updating the credit spent..but for the high interest I lun....

Interest still higher than first year ssb?

 

[ekardo]

Interest still higher than first year ssb?

How much can u put inside ssb? I am sure most people have much more savings to put somewhere ?

 

[reddevil0728]

How much can u put inside ssb? I am sure most people have much more savings to put somewhere ?

200k max

 

[ekardo]

200k max

I mean, the allocation is so low.

 

[vsvs24]

Last issued 6 mths Tbill 2.36%.

I have already moved out Singlife 1% and UOB One 1%.

BOC smartsaver max 1.45% so will move out soon.

 

[Moowoow]

Last issued 6 mths Tbill 2.36%.

I have already moved out Singlife 1% and UOB One 1%.

BOC smartsaver max 1.45% so will move out soon.

So u moved it to t bills not ssb?

 

[vsvs24]

So u moved it to t bills not ssb?

SSB is my first choice. Apply every month. But limited allocation so will put some in Tbill and SGS bonds.

 

[sgbird]

This round BOC smart saver updates it interest rate quite slowly. I expected BOC would increase the rate by May but till end June never happened.

Seems "Multi saving" account is not a favorable account to banks already

 

[ekardo]

15k 18k for past 2 months in ssb, too slow to disperse my fundings and boc still highest interest for the same conditions. (Salary, $500 spending, 3 giro)

got other alternative I also wanna move my funds out

 

[silverbomb]

SSB is my first choice. Apply every month. But limited allocation so will put some in Tbill and SGS bonds.

sorry the other thread alot of post past few days. are you saying SSB is always higher interest than T bill and SGS for the last 3 months (Apr to Jun)?

 

[vsvs24]

sorry the other thread alot of post past few days. are you saying SSB is always higher interest than T bill and SGS for the last 3 months (Apr to Jun)?

Preference for SSB over Tbill and SGS bond is because it is :

1. more liquid in that you can redeem easily if you need the money. Tbill and SGS bonds is hard to sell in the secondary market so best to hold till maturity.

2. Longer duration of 10 years with step up interest every year. So you lock up good rates for 10 years and yet can redeem if needed or when future issue of SSB has better rates. Tbills are 6 mths and 1 year. SGS bonds 2 years, 5 yrs, 10 yrs.

Only problem with SSB is that it is oversubscribed and small allocation. May application was $15000. June application $18000. Tbills and SGS bonds no such allocation.

This month's SSB rates will be released later in the day but estimate is 2% for first year and av 3% if hold for 10 yrs.

Last issue of 6 mths Tbill is 2.36%. Recent 2 year SGS bond (re-open) is 2.7%.

6mths Tbill is issued every 2 weeks. There is one open for application now.

 

[Squaredot]

BOC celebrating 7.7 ah ?
Bonus interest credited 1 day early

 

[ekardo]

mine still not in...celebrate for you only...

 

[vsvs24]

mine still not in...celebrate for you only...

Mine came in today also

 

[Moowoow]

No upward revision in interest bonus?

 

[sgbird]

No upward revision in interest bonus?

So far no. Decide to move all money to Tbill and SSB