Lastest S$ Deposit updates - Part 3

[mp4005 help]

Hi all,
Am new to this whole FD thing…
Got a spare $250k in my DBS account
Happy to take it out and put into a new bank account for 12 months FD
Which bank & plan would you suggest?

did you read any of the previous posts ?

 

[testingabc]

Hi all,

Am new to this whole FD thing…

Got a spare $250k in my DBS account

Happy to take it out and put into a new bank account for 12 months FD

Which bank & plan would you suggest?

if dont put FD, go RHB HYSA or PP, FD almost the same for 12 mths for most banks

 

[owenowenno]

if dont put FD, go RHB HYSA or PP, FD almost the same for 12 mths for most banks

CIMB FD 12mth 4.15% i thik highest But it is ONLINE application and be warned Becos +++ demand ,there is some unfavorable feedback on Cimb thread ? wait ? maybe 6 days for reply if you are new to bank

 

[Hot2002]

you read all the other threads.

people talk as if the 0.X % makes a big difference in their lives. maybe they have millions of dollars.
because of 0.1-0.3% difference will kick a big fuss.
1% of 100k is 1k divided by 12 is $83.3

can do 90 mins of tuina already

 

[Hot2002]

You wants to discourage FD holders to break their FDs. You set another queue for this group of peoples. Anyway UOB already separate by different queue group. But for new account opening is your new customers. Yet you tekan them by providing such lousy service. Your case is 1hr 10 numbers. My case is 1hr 0 number moved. Yours still moving but my one just stuck there. Actually the banking hall still got a lots of staff quite free walks here and there. They for sure will knows what's the situation inside their banking hall. They should allocated more man power to speed up for opening of new accounts. Just my thought.

it’s already like that, even before the interest rate hike

the fd queue doesn’t move while other queue moves. I had to feedback to one of the staff before the queue starts moving again

 

[qhong61]

The CPF website shows 4% for SA and RA for Jan 2023.
However it also shows that the calculation for the % for SA (3 month average of 10 year bond yield) up to October is more than 3%. So by right Jan for SA % (thar average +1%) should be more than 4% , right?
But i have next to nothing in SA.

But for OA, no way that it will be increased.

U are retiree?

 

[lzydata]

The CPF website shows 4% for SA and RA for Jan 2023.
However it also shows that the calculation for the % for SA (3 month average of 10 year bond yield) up to October is more than 3%. So by right Jan for SA % (thar average +1%) should be more than 4% , right?
But i have next to nothing in SA.

But for OA, no way that it will be increased.

Actually the formula is the average of the last 12 months, not 3 months. Hence they wrote "3.47% for the period from November 2021 to October 2022." And the figure already includes the +1%; The average for that period is around 2.47% pa.

The 10 year SGS yield only breached 3% pa in June 2022 and at times fell back below 3%. However, from what I can see from the historical yields, the average yield from May 2022 to now (7 months and 2 days) has exceeded 3% pa. If it persists, then the formula will dictate that SA interest rate must rise above 4% pa.

 

[ahnyaahnya]

U are retiree?

Yah

 

[ahnyaahnya]

Actually the formula is the average of the last 12 months, not 3 months. Hence they wrote "3.47% for the period from November 2021 to October 2022." And the figure already includes the +1%; The average for that period is around 2.47% pa.

The 10 year SGS yield only breached 3% pa in June 2022 and at times fell back below 3%. However, from what I can see from the historical yields, the average yield from May 2022 to now (7 months and 2 days) has exceeded 3% pa. If it persists, then the formula will dictate that SA interest rate must rise above 4% pa.

Oh yah .
I misread it last night. (Too sleepy at 1:42 a m)
SA is reviewed quarterly , but is based on 12 month average.
I was surprised when I saw that 3.47% last night cos I remembered that it was based on 12 month . I thought that I had been mistaken.
Also didn't notice that it was already + the 1%.

 

[pearl_ml]

is it better to put 12 or 18 month for cimb 4.15% ? cos after 1 year later, interest may not that good? better to put 18 month?

 

[LouisSaha]

is it better to put 12 or 18 month for cimb 4.15% ? cos after 1 year later, interest may not that good? better to put 18 month?

Actually 4.15% is quite decent.
If you have no intention to use the fund or spare fund, can park 18 mths.
I don't think the rates can hit 5% liao.

 

[yumsang]

Hi all,

Am new to this whole FD thing…

Got a spare $250k in my DBS account

Happy to take it out and put into a new bank account for 12 months FD

Which bank & plan would you suggest?

wah any bank in sg will make you Premier client and serve you in their business class lounge

 

[qhong61]

Yah

Still have money in OA?
Or Enhanced retirement sum in RA?

 

[ahnyaahnya]

Still have money in OA?
Or Enhanced retirement sum in RA?

You want to borrow ah?

RA full house

 

[qhong61]

You want to borrow ah?

RA full house

Full retirement sum in RA?
Was wondering if have money in OA, what is the best way to make the money grow if already retired?

 

[DevilPlate]

Full retirement sum in RA?
Was wondering if have money in OA, what is the best way to make the money grow if already retired?

If already retired, just keep the monies in OA as high savings interest rate ATM machine lor.

Can buy Tbills if you wish to earn higher than 2.5%.

Seems like alot of folks here never do CPF SA shielding before 55yo.

 

[LouisSaha]

wah any bank in sg will make you Premier client and serve you in their business class lounge

They wont bother you unless ur in their private client customer base + with investment. $250k nowadays is not even alot…

 

[storm913]

Is there any promo for posb dbs FD now? (other than the 3.3%) Parents lazy to go other banks to do FD

 

[gold_eagle36]

is it better to put 12 or 18 month for cimb 4.15% ? cos after 1 year later, interest may not that good? better to put 18 month?

now 9 mths also 4.05, good rate.

 

[ahnyaahnya]

Is there any promo for posb dbs FD now? (other than the 3.3%) Parents lazy to go other banks to do FD

I was told 3.7% by POSB/DBS CSO this morning . But don't know how many months