Lastest S$ Deposit updates - Part 3

S

sohguanh

Supremacy Member
Joined
Jul 10, 2010
Messages
8,878
Reaction score
3,012
sglandscape said:
The most fuss free has been Manulife via DBS, can DIY and do multiple tranches and confirmation is immediate. Most fuss free so far.
Click to expand...
Agree. Previously I have reservations as I was never a customer of Manulife. I am glad I take the plunge and looking back their rates they offer not too shabby actually. Now next step is wait at maturity they honor their promise 😆
 
V

vsvs24

Arch-Supremacy Member
Joined
Feb 3, 2018
Messages
11,250
Reaction score
3,618
lzydata said:
SINGAPORE banks are flushed with deposits with few options to deploy them amid a tepid lending environment. The city-state’s central bank is one avenue.

The issue was highlighted in May when DBS Group Holdings chief executive officer Piyush Gupta said during an analyst call that the bank had lent the Monetary Authority of Singapore (MAS) S$30 billion as it is “not finding enough opportunities to put the money to work”.

...

From a yield perspective, lending to customers would usually be more rewarding than keeping funds with central banks, Tanoto noted. MAS’ standing facility accepts overnight deposits at a yield between 2.7 per cent to 4 per cent year to date, while a loan can range from high 3 per cent for a mortgage to over 27 per cent on credit cards.

https://www.businesstimes.com.sg/co...so-flush-deposits-dbs-loaning-mas-s30-billion
DBS's savings accounts cost them 0.05% pa and their fixed deposits max out at 3.20% pa. DBS Multiplier's tier maxes out at 4.1% pa and that only for $100k.

Meanwhile they can invest in T-bills - last auction yield 3.85% pa - or MAS bills, last auction yields 4.30% pa and 4.10% pa. And also in MAS's standing facility.
Click to expand...
A lot of info from this article.

Lenders in Singapore have been dangling attractive rates in a fierce race for funds. This has caused fixed deposits in the country to surge over 70 per cent to S$837 billion in Q1 from a year ago, MAS data show, though banks now face mounting pressure on funding costs as cash continues to pour in.

This trend is expected to persist through 2023 with depositors seeking safe-haven alternatives
 
A

ahnyaahnya

High Supremacy Member
Joined
Mar 3, 2010
Messages
32,421
Reaction score
10,371
wutawa said:
Had a bad experience to open a posb fd acct a few days ago. Went down branch but was told to book an appt 1 wk later.
Click to expand...
They don't want our money lah. They have no use for it. Will just end up lending to MAS.
Go to other banks. Also can get more interest at some other banks
 
dreamwork7878

dreamwork7878

Arch-Supremacy Member
Joined
Nov 19, 2011
Messages
24,484
Reaction score
180
Gro capital ease 3.55% pa for 3 years vs SavvyEndowment series 12. 3.92% pa for 3 years.

which one better ?
 
Utonian

Utonian

Member
Joined
Nov 17, 2012
Messages
232
Reaction score
28
dreamwork7878 said:
Gro capital ease 3.55% pa for 3 years vs SavvyEndowment series 12. 3.92% pa for 3 years.

which one better ?
Click to expand...

assume both Income and Manulife are stable companies and u are neutral to both.
both 3yrs, both easy to DIY apply and Fuss free
one higher interest than the other........
 
S

sohguanh

Supremacy Member
Joined
Jul 10, 2010
Messages
8,878
Reaction score
3,012
dreamwork7878 said:
Gro capital ease 3.55% pa for 3 years vs SavvyEndowment series 12. 3.92% pa for 3 years.

which one better ?
Click to expand...
Ignore SavvyEndowment non-guaranteed so it is 3.65% vs Gro 3.55%. If you gamble they got some heart and give then it is 3.65 + X % which is still better than Gro. Difference maybe will be the insurer reputation lor. Income is local and many years in Spore.
 
R

rest1ess

Senior Member
Joined
Nov 17, 2005
Messages
582
Reaction score
99
lzydata said:
SINGAPORE banks are flushed with deposits with few options to deploy them amid a tepid lending environment. The city-state’s central bank is one avenue.

The issue was highlighted in May when DBS Group Holdings chief executive officer Piyush Gupta said during an analyst call that the bank had lent the Monetary Authority of Singapore (MAS) S$30 billion as it is “not finding enough opportunities to put the money to work”.

...
Click to expand...

Now that's why: "The liquidity surplus underscores how Singapore has been a beneficiary as Asia’s wealthy shift their money to a perceived safe haven"
 
D

d5dude

Arch-Supremacy Member
Joined
Nov 30, 2006
Messages
13,556
Reaction score
5,175
rest1ess said:
Now that's why: "The liquidity surplus underscores how Singapore has been a beneficiary as Asia’s wealthy shift their money to a perceived safe haven"
Click to expand...

Too much hot money in the system and nowhere to deploy them due to challenging macro environment.
 
S

sohguanh

Supremacy Member
Joined
Jul 10, 2010
Messages
8,878
Reaction score
3,012
limjohnny said:
:ROFLMAO: I didn't even have a chance to read it yet.
Click to expand...
hahaha... me too but i forsee the dropping rates and share in this forum at least a month ago. just need to divert more to other lobang which is more risky I agree but no choice. for ppl really low risk appetite just have to squeeze every ounce out of whatever available then.

Today Tbill 3.84% so for at least 6 month placement lobang secured. What about other tenure period? So need hunt for replacement lobang instead! Some lobang mechanics is easy to understand some a bit hard as in need do research, readup etc.
 
You must log in or register to reply here.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top