Lastest S$ Deposit updates - Part 3

[yongsaver]

Are the declared interest rate for SD guaranteed ? Both the OCBC and Maybank mention capital protection if hold till maturity or bank termination. Nothing mentioned about interest.

i think not gtd,...but one can safely assume they will not deviate too much from the stated rates unless its tied to some specific investment event.

 

[tiertime]

This is what we know as at today as far as 1 year FD goes

No 1: ICBC 1.85% p.a.
No 2: CIMB 1.8% p.a.

Rest of the banks,...please dont be shy and pls try harder...

i would go for this than the 2%+ lock in some SD for more than a year... SD got hidden clause.. they terminate u ok for them but if u terminate them u lugi... somemore not insured by SDIC... they think customers are stupiak

 

[kitkat2]

Are the declared interest rate for SD guaranteed ? Both the OCBC and Maybank mention capital protection if hold till maturity or bank termination. Nothing mentioned about interest.

when you sign up, the interest rate will be fixed and guaranteed if the bank doesn't cancel the sd.

if you think you have locked on a high interest rate and should the interest rate fall in later years, the bank can terminate the sd at their discretion and issue a new tranche based on prevailing rate.

 

[K202020K]

when you sign up, the interest rate will be fixed and guaranteed if the bank doesn't cancel the sd.

if you think you have locked on a high interest rate and should the interest rate fall in later years, the bank can terminate the sd at their discretion and issue a new tranche based on prevailing rate.

Means the bank eat people lah .... no wonder every year profit up one

 

[Intel888]

Not sure if this has been shared
http://singapore.icbc.com.cn/ICBC/海...PromotionInfo/latestfixeddepositpromotion.htm

Have options for Step-up FD, Bundle FD, and regular FD

 

[yongsaver]

Not sure if this has been shared
http://singapore.icbc.com.cn/ICBC/海...PromotionInfo/latestfixeddepositpromotion.htm

Have options for Step-up FD, Bundle FD, and regular FD

i calculate left, i calculate right,...their simple 1.85% p.a. 1 year FD still best among all the options..

 

[cnotsniw]

If want flexibility in tenure, perhaps the ICBC Step-Up FD is also a good option.

 

[K202020K]

Why banks like RHB like not rivaling with the likes of CIMB, ICBC etc.?
Seems like they're flushed with abundant money yo .... Lol ....

 

[limchooc]

If want flexibility in tenure, perhaps the ICBC Step-Up FD is also a good option.

Agree, good deal if want flexibility. Good info, thank you.

I am thinking of switching my SC 2 month FD to this when it mature in end July as I don't want to be lock down for 12 month. Hope by them the promo is still available.

 

[a4973]

is cheque at counter the only way to place FD at ICBC?
i vaguely remember some Internet banking cant FAST to ICBC or something like that.

 

[vsvs24]

is cheque at counter the only way to place FD at ICBC?
i vaguely remember some Internet banking cant FAST to ICBC or something like that.

My experience is that I could not fast to ICBC from HSBC but could from POSB on a weekend.

 

[hwarzoner]

The icbc SGD Step-Up Fixed Deposit not bad also

 

[vsvs24]

The icbc SGD Step-Up Fixed Deposit not bad also

Agree. Effective interest rate if hold for 12 mths is 1.8% yet gives some flexibilty.

Need to go down to branch to place it.

 

[Newmaxi]

Agree. Effective interest rate if hold for 12 mths is 1.8% yet gives some flexibilty.

Need to go down to branch to place it.

Hmm. Think maybe swing by if am around that area.

 

[cheesey]

Hi all, can we terminate the CIMB FD online before it's due date, maybe in case got emergency for cash n need terminate earlier or must go down branch to terminate?

 

[vsvs24]

At ICBC Simei to place the step up FD.
1. If placing with cheque, cut off time for same day deposit is 1.30pm.

2. Need to open a savings account. No passbook. Will issue IB and debit card as ATM card. Debit card can choose visa or unionpay.

3. After completing every 3 mth cycle, interest will be credited to the savings account ie don't have to wait till 12 mth to receive interest.

4. They have the FD available pasted at the counters. The step up FD is not shown. While waiting, several people ask about the FD promotion and they did not highlight that there is this step up FD. I say I want to place step up FD and staff confirmed that it is available. Looked at my cheque amount and say based on the amount the 12 mth 1.85% FD is better. I told him still want step up FD as more flexible and int rate if hold to 12 mth is close. So don't walk away even though you don't see it published at counter.

 

[vsvs24]

Anyone know which current account give better interest ? No frills type...no salary, credit card spend, bill payment..For senior citizen.

 

[Buzy_bee]

Anyone know which current account give better interest ? No frills type...no salary, credit card spend, bill payment..For senior citizen.

How about citibank Maxigain? Maintain min $15k and interest rate steps up from 1.2% and after one year interest rate is 2.4%

 

[vsvs24]

How about citibank Maxigain? Maintain min $15k and interest rate steps up from 1.2% and after one year interest rate is 2.4%

Thanks for replying. Forgot to mention need to draw down for expense. Amount not big about 16K. So Maxigain not suitable.

 

[Panerex]

At ICBC Simei to place the step up FD.
1. If placing with cheque, cut off time for same day deposit is 1.30pm.

2. Need to open a savings account. No passbook. Will issue IB and debit card as ATM card. Debit card can choose visa or unionpay.

3. After completing every 3 mth cycle, interest will be credited to the savings account ie don't have to wait till 12 mth to receive interest.

4. They have the FD available pasted at the counters. The step up FD is not shown. While waiting, several people ask about the FD promotion and they did not highlight that there is this step up FD. I say I want to place step up FD and staff confirmed that it is available. Looked at my cheque amount and say based on the amount the 12 mth 1.85% FD is better. I told him still want step up FD as more flexible and int rate if hold to 12 mth is close. So don't walk away even though you don't see it published at counter.

How close is close if hold the step up FD vs plain 1.85% FD?is it 1.805%?

Also, for the interest earned at each completed cycle, does it auto-bank into the ICBC savings account quarterly (for 1-year plan?