Lastest S$ Deposit updates - Part 3

[vsvs24]

Do be careful when you all do invest in banks because of the current dropping market rates. The rates are dropping so better to ensure that you take good care. Read this article, this may help

https://blog.policypal.com/insurance/what-should-you-do-when-banks-slash-their-interest-rates/

Sounds like marketing endowment funds. Endowments returns are non-guaranteed.

 

[Alex.hero]

Just tried to do the 18 months dbs promo online... Like cannot sia.
Anybody havinff issues

 

[Squaredot]

Just tried to do the 18 months dbs promo online... Like cannot sia.
Anybody havinff issues

FD 11 months max for new placements.

 

[Alex.hero]

FD 11 months max for new placements.

You are absolutely right. Missed out on this one liner... Oh man.

 

[twinklingstars]

MB 3 years FD 2.05%

https://sslsecure.maybank.com.sg/cg...46.877472623.1595061029-1145670013.1595061029

Anyone knows when is the deadline??

 

[Squaredot]

Anyone knows when is the deadline??

till Maybank revise its rates

 

[MrCoconut]

MB 3 years FD 2.05%

https://sslsecure.maybank.com.sg/cg...46.877472623.1595061029-1145670013.1595061029

Is this legit? Based on my calculations for 50k deposit you will get back $1025 of interests after 36 months. That's 2.05% in total, not per annum. Am I right?

 

[tamago_]

The link says 2.05% p.a. though.... so it should be $1,025 per year.

 

[MrCoconut]

if u look at this table, upfront interest is $125. Interest on interest should mean 720% of $125, which is $900. So total interests is $1025, right?

Sent from robertson quay using GAGT

 

[caniggia]

3 years only $1025 for 50k? Dont think so.

 

[mdax23]

if u look at this table, upfront interest is $125. Interest on interest should mean 720% of $125, which is $900. So total interests is $1025, right?

Sent from robertson quay using GAGT

How to get $125 from the table?

 

[semiret]

if u look at this table, upfront interest is $125. Interest on interest should mean 720% of $125, which is $900. So total interests is $1025, right?

Sent from robertson quay using GAGT

May Bank have Islamic Time Deposit which pays next day upfront interest for 3 yrs. To make sure it is still available best is give bank a call before you heads to the branch. The total interests should be around 3075.

 

[sted.]

Principal Amount S$150,000.00
Tenure 36 Month(s)
Upfront Interest Rate (p.a.) .25%
Interest-on-Interest Rate (p.a.) 720% of Time Deposit Interest Rate
Total Interest (p.a.) 2.05%
Maturity Date 29-May-2023
Interest Payment Mode Credit to account
Principal Payment Mode Credit to Account
Upfront Interest S$1,126.03
Interest-on-Interest S$8,107.42
Total Interest Upon Maturity S$9,233.45

 

[Alex.hero]

Is this legit? Based on my calculations for 50k deposit you will get back $1025 of interests after 36 months. That's 2.05% in total, not per annum. Am I right?

$1025 is per year.
So x 3

 

[Alex.hero]

3 years only $1025 for 50k? Dont think so.

Per annum.. X3

 

[LouisSaha]

$1025 is per year.
So x 3

Yes you are right.
Maybank FD is a no brainer now.
2.05% is super good now. Con would be 3 years locked in.
For me, if you have extra funds, good to put in Maybank.
3 years very fast over.

 

[yongsaver]

Principal Amount S$150,000.00
Tenure 36 Month(s)
Upfront Interest Rate (p.a.) .25%
Interest-on-Interest Rate (p.a.) 720% of Time Deposit Interest Rate
Total Interest (p.a.) 2.05%
Maturity Date 29-May-2023
Interest Payment Mode Credit to account
Principal Payment Mode Credit to Account
Upfront Interest S$1,126.03
Interest-on-Interest S$8,107.42
Total Interest Upon Maturity S$9,233.45

The actual yield to maturity is 2.03% p.a.

 

[happy_bear]

Anyone knows Maybank's financial outlook and records now? Just worried about their financial stability before putting Fd with them on amts more than sdic insurance.

 

[saintgtril]

Hi all, other than SingLife 2.5%, is this the next highest interest instrument? Thanks!

The actual yield to maturity is 2.03% p.a.

MB 3 years FD 2.05%

https://sslsecure.maybank.com.sg/cg...46.877472623.1595061029-1145670013.1595061029

Principal Amount S$150,000.00
Tenure 36 Month(s)
Upfront Interest Rate (p.a.) .25%
Interest-on-Interest Rate (p.a.) 720% of Time Deposit Interest Rate
Total Interest (p.a.) 2.05%
Maturity Date 29-May-2023
Interest Payment Mode Credit to account
Principal Payment Mode Credit to Account
Upfront Interest S$1,126.03
Interest-on-Interest S$8,107.42
Total Interest Upon Maturity S$9,233.45

 

[oceanicmanta]

Hi all, other than SingLife 2.5%, is this the next highest interest instrument? Thanks!

elastiq 1.8% + $30 + $100, for $26k EIR = 2.3x% if hold for 1 year