Lastest S$ Deposit updates - Part 3

a4973

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Probably eyeing those who draw out their CPF.

When 12mth FD is at 1.85%, this 2.05% not attractive enough to lock up for 3 years.

i cant think of any reason why one would withdraw from CPF only to redeposit for 1.85% or even 2.05%.
 

vsvs24

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i cant think of any reason why one would withdraw from CPF only to redeposit for 1.85% or even 2.05%.

I know of someone who draw out despite me advising that can get higher interest leaving it there. The reason is fear that government will just change cpf withdrawal policy and can't withdraw out in future.
 

Newmaxi

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For those who had FD with CIMB. Now 3 Mth is 1.4%. Rate for 6 Mth and 12 month remains.
 

Sausage

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now that july is ending any place to park deposits for bonus interest? Currently using SCB esaver, which others are good?
 

Newmaxi

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We received sms that they will be renewing our existing fd (maturing in Aug'18) at the rate of 1.75%.

Did u managed to figure out how to do the renewal online?

If I do a fresh 3 month it will be 1.4% vs the old one at 1.3%
 

kurt111494

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i received info from Great Eastern about another endowment plan - 3 years @ 2.2%, minimum sum 10k.

anyone else received similar info?

i didn't reply since i don't have anymore mobile funds to lock up.
 

K202020K

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i received info from Great Eastern about another endowment plan - 3 years @ 2.2%, minimum sum 10k.

anyone else received similar info?

i didn't reply since i don't have anymore mobile funds to lock up.
2.7% lah .... 2.2% is dropped by half a percentage point from the previous offer, likely to have few takers.
 

keat84

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News confirmed, 3years 2.2% pa guaranteed launching on 1 Aug.

this time duno how long it will last!

i received info from Great Eastern about another endowment plan - 3 years @ 2.2%, minimum sum 10k.

anyone else received similar info?

i didn't reply since i don't have anymore mobile funds to lock up.
 

vsvs24

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News confirmed, 3years 2.2% pa guaranteed launching on 1 Aug.

this time duno how long it will last!


Definitely last longer as not attractive. Was expecting it to be better because it is supposed to be some kind of anniversary launch.

For 3 years lockup, 2.2% not attractive enough. Rather go for SSB (Aug 3 year av 2.1%, 10 year av 2.57. Sep should be lower) or 1.85% FD. Anyway I bought GE205 and GE270. So this rate not enough to make me buy more GE.
 

K202020K

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Ha ha .... GE accumulating for vulture fund .... good strategy .... LOL ....
 

lzydata

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now that july is ending any place to park deposits for bonus interest? Currently using SCB esaver, which others are good?

Cannot say until 1 August when they announce, although Maybank has already announced rates up to the end of the year:

Fresh Funds Deposit (S$)
30,000 to < 50,000 1.25% pa
50,000 to < 200,000 1.33% pa
200,000 to 3mil 1.45% pa

Bonus interest/dividend is awarded on the incremental average daily balance in the Account during the Promotion Period against the average daily balance in June 2018.

http://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx
 

vsvs24

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Cannot say until 1 August when they announce, although Maybank has already announced rates up to the end of the year:

Fresh Funds Deposit (S$)
30,000 to < 50,000 1.25% pa
50,000 to < 200,000 1.33% pa
200,000 to 3mil 1.45% pa

Bonus interest/dividend is awarded on the incremental average daily balance in the Account during the Promotion Period against the average daily balance in June 2018.

http://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx

But he already in esaver in July so need to move out somewhere in Aug unless have another esaver.

I still feel that ICBC step up FD can consider. 3 mths 1.5%....12 mths effective rate about 1.8%. Interest paid quarterly.
 

molangtsum

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Cannot say until 1 August when they announce, although Maybank has already announced rates up to the end of the year:

Fresh Funds Deposit (S$)
30,000 to < 50,000 1.25% pa
50,000 to < 200,000 1.33% pa
200,000 to 3mil 1.45% pa

Bonus interest/dividend is awarded on the incremental average daily balance in the Account during the Promotion Period against the average daily balance in June 2018.

http://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx


Wa this seems better than SCB cos SCB 3mths only right?

If we open a new acct now and just do 1 time transfer of 30k and park til 31 dec, we get 1.25% on 30k for 6 mths?!

And no need to search for new parking acct every 3 mths...
 

vsvs24

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Wa this seems better than SCB cos SCB 3mths only right?

If we open a new acct now and just do 1 time transfer of 30k and park til 31 dec, we get 1.25% on 30k for 6 mths?!

And no need to search for new parking acct every 3 mths...

Yes. But note that Maybank used to be 3 mths change. Only this latest one stretch 6 mths. But good to open one.
 
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