Lastest S$ Deposit updates - Part 3

peppermint7

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talking about deposit, maybe i can add something regarding UOB. Last month i received an sms from UOB that my FD is due soon and I can enjoy better rate if I show them the msg when renewing the FD. But when i made an effort to drop by their branch physically to ask about this, the banking staff does not seem to know what this sms is about and had to go check with someone else in the bank and then came back to tell me the rate is the same as offered by the bank, no better rate whatsoever. In case you also received a similar sms from UOB, dont waste your time and effort to go to the bank physically, just check their rate online and if rate is good for you, just open the FD online.

Lol they tricked u to pay them a visit :D
 

wutawa

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Now market interest rate is so poor that a couple of us starts to explore using CPF as short term FD :D
No need to waste time calculating if u know the major difference between Basic and Standard/Escalating = 4% interest plus 1%+1% credited to RA for Basic that gives the bulk of the bequest should u die earlier than expected.

Plus read these 2 articles:



I like these extracted from the article:

"There are three different CPF LIFE plans for you to choose from which will affect how much you receive in monthly payouts.

Standard Plan (default) – The Standard Plan offers higher level monthly payouts and is targeted at those who think they can live longer than their mid-eighties.

Escalating Plan – The Escalating Plan offers lower monthly payouts at the start with a 2% increment each year. This plan is a good idea only if you think you will live a very long life well into your 90s.

Basic Plan – The Basic Plan offers lower monthly payouts, where payouts will be reduced gradually once your combined CPF balances (including unused CPF LIFE premiums) fall below $60,000. This is ideal if you think you are likely to pass away in your early eighties or younger.
Talking abt payouts after 40 years cannot be short term fd bah :s22:
 
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peppermint7

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Talking abt payouts after 40 years cannot be short term fd bah :s22:

Er
We are talking about VC into 3 acc or cash top up into SA. Once u meet your FRS. Any exceed can be withdrawn at 55

Btw. Side track abit. I have liquidate all my shares this morning liao.
 

yongsaver

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Talking abt payouts after 40 years cannot be short term fd bah :s22:

me uncle here payout in 6 years. so its considered 3 years FD and 1 renewal. :s13:

CPF is one of those BIG ROCK. vital to get it right regardless of whether u have another 4 years or 40 years to enjoy its fruits. :D
 

yongsaver

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Er
We are talking about VC into 3 acc or cash top up into SA. Once u meet your FRS. Any exceed can be withdrawn at 55

Btw. Side track abit. I have liquidate all my shares this morning liao.

ho sei liao. $$
 

yongsaver

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Hahaha yup! Now i hope they don't call back :D

100% will be called la. if not, gupta will need to answer to shareholders why the bank has a higher yielding instrument outstanding when there are cheaper sources of funds around.
 

peppermint7

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100% will be called la. if not, gupta will need to answer to shareholders why the bank has a higher yielding instrument outstanding when there are cheaper sources of funds around.

Now u broke my only hope.. :(
 

dangerdevil

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talking about deposit, maybe i can add something regarding UOB. Last month i received an sms from UOB that my FD is due soon and I can enjoy better rate if I show them the msg when renewing the FD. But when i made an effort to drop by their branch physically to ask about this, the banking staff does not seem to know what this sms is about and had to go check with someone else in the bank and then came back to tell me the rate is the same as offered by the bank, no better rate whatsoever. In case you also received a similar sms from UOB, dont waste your time and effort to go to the bank physically, just check their rate online and if rate is good for you, just open the FD online.
Just when I was abt to do FD for UOB...the rate dropped😩😩😩
 

dangerdevil

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Really hate dbs..they listed out the rates up to 18 months...but max can only place 11 months. Their website really cmi
 

maple96

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Really hate dbs..they listed out the rates up to 18 months...but max can only place 11 months. Their website really cmi

DBS current policy only accept FD for 11 mths. Suggest they display a message so customers dun waste their time, but they only blog the number of mths, no brains for customer :s13:
 
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