Lastest S$ Deposit updates - Part 3

henrylbh

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agree, uob is the most tricky one, particularly for their cc promo

I terminated my UOB One years ago. Not only that, I terminated all my savings accounts with them and got nothing to do with them anymore :s13:
 

henrylbh

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Saw ICBC 1.90% for 12 months for min S$20k deposit.

Why go for 12m FD at 1.9% only. Rates are rising. Might as well go for maybank at 2.0% in Feb. Thereafter, surely others will no less than 1.9% for savings account, like SCB.
 

vsvs24

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Hi bro, if I bank transfer from other bank to Maybank isavvy account in a few batches of deposits (due to bank transfer limit) over two days (Today & Tomorrow) to make up $50,000. So the base interest I will get end Feb is 0.38% of $50,000= $190. Bonus interest in March is 1.62% of $50,000=$810. So in total I will get $190+$810=$1000.

Is my calculation correct?

Ocean has already replied you on the interest calculation.

Today is already 9 Feb and Feb has only 28 days.

My opinion is that you might want to wait and transfer on 1 Mar after checking the interest rate for the new cycle which will probably have Feb as reference month.

If you transfer in Feb, your deposit will only earn prorated bonus interest for Feb (credited in first week of Mar). And you will not earn bonus interest for Mar and Apr as Feb will likely be reference month for the new cycle.
 
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havetheveryfun

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Why go for 12m FD at 1.9% only. Rates are rising. Might as well go for maybank at 2.0% in Feb. Thereafter, surely others will no less than 1.9% for savings account, like SCB.

some ppl are paranoid and do not want to play the merry go round game or take the risk to do so every 2 months, so they rather stick to FDs which are safer and straightforward
 

K202020K

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some ppl are paranoid and do not want to play the merry go round game or take the risk to do so every 2 months, so they rather stick to FDs which are safer and straightforward

Two primary reasons lah.
First for some people, their time is more valuable than the extra money from the interest generated.
Second is to lock-in the rate in case there is a black swan event, and interest rates go south very rapidly.

Another possible reason is some people are afraid that they would forget to take the necessary follow-up actions on maturity. Or they may make careless mistakes during transaction & its processing.

For me, it is lesser drain on my energy so I can spend more time to laze around lah. 哈哈。
Life is short bro .... later ended up got not enough time to spend your money yo...
 
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xiaonajia

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Why go for 12m FD at 1.9% only. Rates are rising. Might as well go for maybank at 2.0% in Feb. Thereafter, surely others will no less than 1.9% for savings account, like SCB.

Icbc is 1.98 percent if u open saving acc and do it online. Saving acc no need min balance.

Actually the reason why rates are rising is due to US Federal reserve raising rates right?

But tiagong with trade war, rates are frozen for now but still going up in the future.

What's the historical norm for us rates if it's not slowing or expanding? Ie the sweet spot rate
 
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fifi_kai

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anyone put fixed deposit with CIMB before? i opened a new account online and transfer in $1000, but no notitication from CIMB that they received my money.

i called cimb and they said that they will only notify me after 2-3 days once the bank backend process it. why so slow!!! other banks are immediate leh
 

bladez87

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scb raising FD rates again in march.

raised twice within 6 months.


is there a home mortgage thread here?
 

chill_lax

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Why go for 12m FD at 1.9% only. Rates are rising. Might as well go for maybank at 2.0% in Feb. Thereafter, surely others will no less than 1.9% for savings account, like SCB.

I just signed for this. Every 3 months got the option to take principal and interest out. So at least the flexibility is there. If keep for 12 months..1.95% effective interest. But most probably I will relook every 3 months to see if there are better offers anywhere.
 

tiertime

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I just signed for this. Every 3 months got the option to take principal and interest out. So at least the flexibility is there. If keep for 12 months..1.95% effective interest. But most probably I will relook every 3 months to see if there are better offers anywhere.

its a good choice
 

havetheveryfun

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I just signed for this. Every 3 months got the option to take principal and interest out. So at least the flexibility is there. If keep for 12 months..1.95% effective interest. But most probably I will relook every 3 months to see if there are better offers anywhere.

not every 2 months meh?
 

luckygal

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zR1QiAp.jpg
 

luckygal

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80 to 100k still not so bad. Make it a joint account and you’re insured.
 

Devilsire

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Maybank 2% and scb 1.9% are always better than 1.9-2% 6-12mths FD as u'll be compounding interest+base monthly, unless interest rate drop

Sent from Xiaomi POCOPHONE F1 using GAGT
 

berger

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the fd interest likely to increase next month anot
 

K_E_N_L_A_W

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I just signed for this. Every 3 months got the option to take principal and interest out. So at least the flexibility is there. If keep for 12 months..1.95% effective interest. But most probably I will relook every 3 months to see if there are better offers anywhere.

not looking at citibank maxigain? getting > 2% and interest can withdraw every month?
 
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