GBP FIXED DEPOSIT

[athletic91]

Which banks has the best promo ? Intend to park 50k for 6 months. Or go money changer change keep at home better

 

[lchunl001]

Which banks has the best promo ? Intend to park 50k for 6 months. Or go money changer change keep at home better

curious, why deposit in GBP given that it is down?

 

[athletic91]

curious, why deposit in GBP given that it is down?

speculate that it will appreciate against the sgd

 

[w1rbelw1nd]

Keyword: speculate. Lol

Sent from OnePlus A0001 using GAGT

 

[chopra]

Why can't ppl answer ts qn?

Sent from gagt is gd using GAGT

 

[Shiny Things]

Which banks has the best promo ? Intend to park 50k for 6 months. Or go money changer change keep at home better

If you want to punt on currencies, fixed deposits are the worst way to do it. They'll get you for 1% on the way in and 1% on the way out, and they'll pay you a below-market interest rate while you're waiting.

...no, wait, I take that back. The only thing dumber than punting on FX through fixed deposits is keeping GBP 25,000 cash in your house.

If you want to punt on GBPSGD going up (because that's what you're doing), open an account with your friendly local FX bucketshop (I use and endorse Interactive Brokers), and press the big green BUY button next to GBPSGD. You'll get a much tighter spread, more competitive interest rates, and you won't have to worry about people breaking into your house and stealing your trade.

 

[FP_IFA]

Which banks has the best promo ? Intend to park 50k for 6 months. Or go money changer change keep at home better

The spread is big and the risk of it dropping more is even bigger. You might as well go buy AUD.

 

[limster]

Definitely online like Shiny Things mentioned is cheapest. I changed GBP yesterday. If drop some more, I go UK for cheap holiday and use the cash