Lastest S$ Deposit updates - Part 3

K202020K

Master Member
Joined
Feb 14, 2017
Messages
3,165
Reaction score
31
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...
For those who had FD with CIMB. Now 3 Mth is 1.4%. Rate for 6 Mth and 12 month remains.
But at CIMB, 3M at 1.4% .... so the 6M at CIMB should be even more than 1.4%. Yet at MB, your 6M yields 1.25% only.
Unless there's something that I'd overlooked .... please advise.
 

vsvs24

Master Member
Joined
Feb 3, 2018
Messages
4,599
Reaction score
71
But at CIMB, 3M at 1.4% .... so the 6M at CIMB should be even more than 1.4%. Yet at MB, your 6M yields 1.25% only.
Unless there's something that I'd overlooked .... please advise.

Those who goes for Maybank or esaver instead of FD wants flexibility in that you can withdraw at anytime, in part or full. Difference in absolute dollars not much. Eg for 30k, difference is only $22.50 for 6 mths (1.4% vs 1.25%).
 
Last edited:

K202020K

Master Member
Joined
Feb 14, 2017
Messages
3,165
Reaction score
31
Those who goes for Maybank or esaver instead of FD wants flexibility in that you can withdraw at anytime, in part or full. Difference in absolute dollars not much. Eg for 30k, difference is only $22.50 for 6 mths (1.4% vs 1.25%).
I see .... thank you for explaining the difference.
 

neanea

Master Member
Joined
Apr 11, 2009
Messages
3,043
Reaction score
5
May bank customer service sucks! Very rude and lazy cso. Becareful
 

Knight_Rider

Arch-Supremacy Member
Joined
Apr 30, 2003
Messages
11,094
Reaction score
0
singapore-dollar-fixed-deposit-472x332.jpg


https://www.uob.com.sg/personal/save/fixed-deposit/singapore-dollar-fixed-deposit.page#benefits
 

hwarzoner

Supremacy Member
Joined
Apr 20, 2007
Messages
9,158
Reaction score
87
POSB Bank Promotions
Enjoy Up To 1.75% p.a. Bonus Interest For 7 Months
Simply open a POSB Bonus Interest Account via online now.

Promotion Period
1 August to 31 August 2018

Fresh Funds Amount
Capped at S$1,000,000

Bonus Interest Rate
Eligible fresh funds amount < S$250,000 to enjoy 1.65% p.a. for 7 months
Eligible fresh funds amount ≥ S$250,000 to enjoy 1.75% p.a. for 7 months
 

vsvs24

Master Member
Joined
Feb 3, 2018
Messages
4,599
Reaction score
71
POSB Bank Promotions
Enjoy Up To 1.75% p.a. Bonus Interest For 7 Months
Simply open a POSB Bonus Interest Account via online now.

Promotion Period
1 August to 31 August 2018

Fresh Funds Amount
Capped at S$1,000,000

Bonus Interest Rate
Eligible fresh funds amount < S$250,000 to enjoy 1.65% p.a. for 7 months
Eligible fresh funds amount ≥ S$250,000 to enjoy 1.75% p.a. for 7 months

Thank you.

The link is here :

https://www.posb.com.sg/personal/pr...block-bank-promotions-fresh-funds-btnapplynow

Edit : TnC :
https://www.posb.com.sg/iwov-resources/pdf/deposits/promotions/posb-fresh-funds-promo-tnc.pdf
 
Last edited:

Sausage

High Supremacy Member
Joined
Dec 31, 2000
Messages
34,012
Reaction score
46
does it mean they will use the amount you have in this acount at the end of august as the reference amount? so if you put in $200,000 you must ensure this amount doe not change at all until the end of march 2019?

Cannot take out, and also if you add in new funds there is no benefit as the reference amount is the snapshot they take at the end of august?

Anyone can clarify?
 

hwarzoner

Supremacy Member
Joined
Apr 20, 2007
Messages
9,158
Reaction score
87
Yes i think so, by 31 August all the fund will be locked in after 31 august if less then the fund being locked in, zero bonus interest. If you add in new fund after 31 aug the new fund will not entitle to have bonus interest.

Customer made a fresh funds deposit of S$280,000 during Promotion Period and made a withdrawal of S$30,000 after 31 August 2018. Promo Bonus Int entitled is S$0 due to unable to maintain the deposits.

Can I make multiple deposit of fresh funds?
Yes, as long as the fresh funds deposit is in the POSB Bonus Interest Account by 31 August 2018.
 
Last edited:

bernardoh

Member
Joined
Aug 24, 2001
Messages
305
Reaction score
0
The lock-in period starts from 31st Aug. Assuming you deposit on 01st Aug, can we say that there is no interest accrued between this to 30th Aug?
 

Sausage

High Supremacy Member
Joined
Dec 31, 2000
Messages
34,012
Reaction score
46
like that means no hurry to deposit yet right? For this month can continue leaving the money in other banks for their interest first and then transfer in to posb on the last day of august?
 

hwarzoner

Supremacy Member
Joined
Apr 20, 2007
Messages
9,158
Reaction score
87
The lock-in period starts from 31st Aug. Assuming you deposit on 01st Aug, can we say that there is no interest accrued between this to 30th Aug?

Yes, is start from 1 Sep onwards if i not wrong.

so to give one month to prepare money :o
 

hwarzoner

Supremacy Member
Joined
Apr 20, 2007
Messages
9,158
Reaction score
87
like that means no hurry to deposit yet right? For this month can continue leaving the money in other banks for their interest first and then transfer in to posb on the last day of august?

Yup i think so. give me one month to decide this :o
 

havetheveryfun

Arch-Supremacy Member
Joined
Jul 16, 2010
Messages
19,935
Reaction score
527
e$aver Bonus Interest (1 August 2018 to 30 September 2018) Promotion

But this time promo cut down to 2 mths.. very soon need to look for new place to switch liao

it has always been in periods of 2 months ,what do you mean ?
 

vsvs24

Master Member
Joined
Feb 3, 2018
Messages
4,599
Reaction score
71
I thought highest now is ICBC at 1.85% (via online deposit), why bother with lower rates bank? Also 1.5% is for funds >$75k, below that only 1.4%

Good to share so that we know the available options. Some people may still prefer local banks. Some need to diversify eg if they already hit 50k SDIC limit in icbc or cimb.
 
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. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top