Lastest S$ Deposit updates - Part 3

Urbanchap

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But DBS Bank the rates are sucker than HL leh .... means DBS is safer in a crisis?

Rates sucks at local banks because they hv lots of funds from locals. Foreign banks tend to attract less retail funds, so they hv to offer better rates.:D
 

havetheveryfun

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Doubt so how safe is measured by its rate

dont understand either why ppl are so afraid banks collapsing in case of a crisis.

if u dont put ur money in local banks because u are afraid of a crisis, then can put in what ? properties? gold? cold hard cash ?

leaving properties and gold aside, even if u keep cold hard cash, in the event of a serious crisis where all local banks in SG collapse, it would mean that the economy is very bad and the currency would also be dropping like flies. which means that the cold hard cash u are holding may turn into just banana notes and useless. As Lee Kuan Yew said before, the money in your bank is just a digit. The money you hold is just paper. What gives them value is the economy itself.

Theres no such thing as "safe" banks in terms of a major crisis.
 

foxer77

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HLF rate suck in recent year. China bank and india bank giving better rate or might as welll put ssb if scare
 

keemmeng

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Other than Maybank, which bank pay the FD interest upfront and not at the end of tenure?

Sent from Xiaomi MI MAX using GAGT
 

maumu

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Other than Maybank, which bank pay the FD interest upfront and not at the end of tenure?

Sent from Xiaomi MI MAX using GAGT

u can try CIMB online FD promotion 1.84% for 12 mths @ $10k minimum.

the why-wait promotion pays the interest upfront the day after opening the account.
 
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luvpraline

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u can try CIMB online FD promotion 1.84% for 12 mths @ $10k minimum.

the why-wait promotion pays the interest upfront the day after opening the account.

i placed this FD online but didnt see an option for this why wait promotion?
 

yongsaver

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i think will be coming to this thread less and less...

i am a super kiasi person, In the past, i only chased FD interest rate....after so many years, i began to realise FD savers are actually paid peanuts and i really stupid to settle for these low rates for so many years...:s22:

while FD is safe, there are also instruments out there which are not super risky but which pay higher rates. recently i have opted in as a accredited investor and began investing in higher yielding instruments...:D

for accredited investors:
1. wholesale bonds (250K)...can invest in HDB, Temasek etc quasi govt bonds...recent HDB series already 2.625% for 7 years. Some people may disagree but i think HDB is in fact safer than a typical bank. :s13: There are also mapletree series, ascendas series. all these are either temasek or JTC owned. so bloody safe if u ask me...:D
2. bond express (can invest as low as $5000 per lot)...about 20 bonds to choose from depending on risk appetite. in any case, if bonds tank, only lose $5K nia. can use it to create a bond portfolio.

for non accredited investors: (those with less than 250K to save)

Singapore Savings Bond...the go to best choice. to me its a hybrid - bond yields and yet operate like a savings acc. do not waste time with FD.

after i am all done with my reallocation, i figured i would nearly double my passive income and with not a very significant increase in risk...sweet!
 

havetheveryfun

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i think will be coming to this thread less and less...

i am a super kiasi person, In the past, i only chased FD interest rate....after so many years, i began to realise FD savers are actually paid peanuts and i really stupid to settle for these low rates for so many years...:s22:

while FD is safe, there are also instruments out there which are not super risky but which pay higher rates. recently i have opted in as a accredited investor and began investing in higher yielding instruments...:D

for accredited investors:
1. wholesale bonds (250K)...can invest in HDB, Temasek etc quasi govt bonds...recent HDB series already 2.625% for 7 years. Some people may disagree but i think HDB is in fact safer than a typical bank. :s13: There are also mapletree series, ascendas series. all these are either temasek or JTC owned. so bloody safe if u ask me...:D
2. bond express (can invest as low as $5000 per lot)...about 20 bonds to choose from depending on risk appetite. in any case, if bonds tank, only lose $5K nia. can use it to create a bond portfolio.

for non accredited investors: (those with less than 250K to save)

Singapore Savings Bond...the go to best choice. to me its a hybrid - bond yields and yet operate like a savings acc. do not waste time with FD.

after i am all done with my reallocation, i figured i would nearly double my passive income and with not a very significant increase in risk...sweet!

Keyword is "accredited investor". Once you can become an "accredited investor", quite a lot of instruments will open up to you.
 

tmkedmw

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Must one be Muslim to open this sort of "shariah compliant" FD? If not I think most people will opt for this rather the regular type

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No need to be a Muslim to open.

If u break the FD, shariah rules are actually quite favorable when compared to normal FD.
 

tiertime

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dun understand what is the point of have 2 types of FD for the bank, the shariah one and normal one, what is the actual purpose?

do they use customers funds going into the shriah accounts for some other 'investments' purpose that customers do not know of... ?
 

keemmeng

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dun understand what is the point of have 2 types of FD for the bank, the shariah one and normal one, what is the actual purpose?

do they use customers funds going into the shriah accounts for some other 'investments' purpose that customers do not know of... ?
Does anyone have tried to make a Why Wait FD? Why would anyone deposit into the regular FD if the rates are same for both FD types..don't understand

Sent from Samsung Galaxy Note 9 using GAGT
 

havetheveryfun

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dun understand what is the point of have 2 types of FD for the bank, the shariah one and normal one, what is the actual purpose?

do they use customers funds going into the shriah accounts for some other 'investments' purpose that customers do not know of... ?

Does anyone have tried to make a Why Wait FD? Why would anyone deposit into the regular FD if the rates are same for both FD types..don't understand

Sent from Samsung Galaxy Note 9 using GAGT

to target different crowds lah...

some non muslim aunties and unkers dont know what is shariah only ma, so if they only have shariah, these aunties and unkers wont put their money with them.

if they only have normal, then muslims wont put their money with them.

its like u go to eat halal chicken rice, the chicken rice actually can be non-halal, just remove the halal cert. but the cooking etc is actually already halal, just no cert. so just slap the halal cert onto it, thats all, but it still the same chicken rice which can have 2 names depending on the situation.
 

banyan8

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Which bank is offering best saving interest rate?

UOB HY 1.63%pa > SCB 1.6%pa. Any bank saving rate is higher than HY?
 

oceanicmanta

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thanks. but when i opened my normal FD in online banking, there was no option of withdrawing the interest early.. strange that this is only for shariah accounts

T&C also did not mention when would the interest be credited.

wonder Why Wait .. referring to no need to queue only ? =:p
 

kurt111494

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i think will be coming to this thread less and less...

i am a super kiasi person, In the past, i only chased FD interest rate....after so many years, i began to realise FD savers are actually paid peanuts and i really stupid to settle for these low rates for so many years...:s22:

while FD is safe, there are also instruments out there which are not super risky but which pay higher rates. recently i have opted in as a accredited investor and began investing in higher yielding instruments...:D

for accredited investors:
1. wholesale bonds (250K)...can invest in HDB, Temasek etc quasi govt bonds...recent HDB series already 2.625% for 7 years. Some people may disagree but i think HDB is in fact safer than a typical bank. :s13: There are also mapletree series, ascendas series. all these are either temasek or JTC owned. so bloody safe if u ask me...:D
2. bond express (can invest as low as $5000 per lot)...about 20 bonds to choose from depending on risk appetite. in any case, if bonds tank, only lose $5K nia. can use it to create a bond portfolio.

for non accredited investors: (those with less than 250K to save)

Singapore Savings Bond...the go to best choice. to me its a hybrid - bond yields and yet operate like a savings acc. do not waste time with FD.

after i am all done with my reallocation, i figured i would nearly double my passive income and with not a very significant increase in risk...sweet!

i think it's also dependent on your age and needs at that point in time.

if you're young but already attached or about to get married, you need a lot of liquidity in your savings. coz will need to spend on house, car, kids, insurance, parents' allowance etc etc. that's why many would prefer FDs where they just put in for 1 year or so. no need to commit too long for savings/investments.

if you're young and already decided you want to be single and alone all your life, or if you're already extremely rich (due to family background), then of course you can immediately jump into these plans you already have.
 

tiertime

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to target different crowds lah...

some non muslim aunties and unkers dont know what is shariah only ma, so if they only have shariah, these aunties and unkers wont put their money with them.

if they only have normal, then muslims wont put their money with them.

its like u go to eat halal chicken rice, the chicken rice actually can be non-halal, just remove the halal cert. but the cooking etc is actually already halal, just no cert. so just slap the halal cert onto it, thats all, but it still the same chicken rice which can have 2 names depending on the situation.

the could hv just made the normal FD also offer upfront interest, since sooner or later they are also going to credit to the customers and besides give upfront or give after 12 mths also cannot withdraw out until maturity

the sariah FD may have a differnt set of terms as normal FD customers are unaware of, unless ppl go read the whole T&C
 

yongsaver

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i think it's also dependent on your age and needs at that point in time.

if you're young but already attached or about to get married, you need a lot of liquidity in your savings. coz will need to spend on house, car, kids, insurance, parents' allowance etc etc. that's why many would prefer FDs where they just put in for 1 year or so. no need to commit too long for savings/investments.

if you're young and already decided you want to be single and alone all your life, or if you're already extremely rich (due to family background), then of course you can immediately jump into these plans you already have.

yes. agree that age and stage of life is key consideration. i was obssessed with fd rates in the past, not daring to venture beyond it in terms of investment even when i was younger. the whole point of my rant is that for people with lesser than 200k to park, the SSB is the only place to do it (100K each with spouse),...use FD only when waiting for chance to park into SSB..it takes care of liquidity, give good rates and is safe. no fd comes close. for those with more money than that, get yourself accredited and access higher yielding instruments (no stocks, no structured instruments) with not much increase in risk. do not be like me who just chase FD in the past nia. :o....lucky something click inside my brain the last 2 weeks and now smarter liao..:s13:
 
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