Lastest S$ Deposit updates - Part 3

[saintgtril]

Thanks maumu.

Hi all,

I applied for CIMB Why Wait Fixed Deposit-i. I receive my FD interest (in FASTSAVER-i account), any issue to the FD if i FAST the interest to another bank account?

Thanks in advance.

you can continue to use account ABC. the FD account is a different one. not related.

Hi all,

I have an existing CIMB account (e.g. ABC) - active account that i use now and then.

I like to apply CIMB Why Wait Fixed Deposit-i Promotion. Can i still use account ABC actively after the FD application? Or i cannot use account ABC unless this FD matures 12 months later? *confused*

Thanks in advance.

 

[LexusIS]

Thanks maumu.

Hi all,

I applied for CIMB Why Wait Fixed Deposit-i. I receive my FD interest (in FASTSAVER-i account), any issue to the FD if i FAST the interest to another bank account?

Thanks in advance.

No the interest is yours why will there be issue

 

[saintgtril]

No the interest is yours why will there be issue

Thanks LexusIS. Initially I was just worried the interest has to be with the bank for X time period.

 

[RangerSnake]

via another bank (esaver 1 --> bank X --> bank Y --> esaver 2). saves the trouble of being questioned that i'm just putting back from the same bank.

Wouldn't this be considered as funds that are withdrawn and re-deposited? (if both esaver accounts are under the same name)

SC's definition of fresh funds:
"fresh funds" are funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

 

[maumu]

Wouldn't this be considered as funds that are withdrawn and re-deposited? (if both esaver accounts are under the same name)

SC's definition of fresh funds:
"fresh funds" are funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

withdrawn and re-deposited to the same account.

at least that is how those with 2 esaver accounts have been using this strategy to 'refresh' the funds.

 

[havetheveryfun]

Wouldn't this be considered as funds that are withdrawn and re-deposited? (if both esaver accounts are under the same name)

SC's definition of fresh funds:
"fresh funds" are funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

aiya, why care so much about the terms, if it works means it works now, and take advantage of it while it still works this way. if u think it doesnt count as fresh funds, pls dont go n complain to the bank...sometimes they just close one eye.

 

[RangerSnake]

withdrawn and re-deposited to the same account.

at least that is how those with 2 esaver accounts have been using this strategy to 'refresh' the funds.

I see. In that case, good thing SC doesn't look at both accounts as one.

 

[RangerSnake]

aiya, why care so much about the terms, if it works means it works now, and take advantage of it while it still works this way. if u think it doesnt count as fresh funds, pls dont go n complain to the bank...sometimes they just close one eye.

I am just not sure because I have not tried it myself but good that someone who tried confirmed this.

 

[peipei1]

Bangkok Bank offering 1.8% for 1 year.

 

[ydnar1]

Last I checked:

Sc e saver 1 pax can have max 3 accounts, 1 single 2 joint name for me

UOB HY, as many as you want. I have 4 HY accounts

esaver is easier because we can have 2 esaver accounts to do that rotation. can we have 2 uob hy accounts to do that? don't think so right.

 

[tiertime]

via another bank (esaver 1 --> bank X --> bank Y --> esaver 2). saves the trouble of being questioned that i'm just putting back from the same bank.

Did Standard Chartered call you and ask u to explain why you always transfer in and out from another bank account ?

 

[maumu]

UOB HY, as many as you want. I have 4 HY accounts

wow, u must be high earner. is it each account must have $35k minimum? or combined $35k?

Did Standard Chartered call you and ask u to explain why you always transfer in and out from another bank account ?

nope, just 'precautionary'... in case they ask lah. so far never ask. anyway... have stopped with this strategy since maybank offers similar rates (end up is just transferring between maybank/SC every 2 - 3 mths). the 2 banks going tit-for-tat.

 

[K202020K]

Maybank is damn useless these days .... got money to donate to the President charity show for $0.5 million .... but very stingy to pay depositors good rates. Always must play some kind of tricks here and there one..

 

[mosmos]

Maybank is damn useless these days .... got money to donate to the President charity show for $0.5 million .... but very stingy to pay depositors good rates. Always must play some kind of tricks here and there one..

their 36mths FD reach 2.05%pa for priviledge plus savings account holder, min $1k

 

[LexusIS]

their 36mths FD reach 2.05%pa for priviledge plus savings account holder, min $1k

36mths? Errrr with interest rate going up, the shorter the tenure the better it is.

 

[Intel888]

For the CIMB online placement 1.84% promotion,
What happens at maturity? Can auto credit to FastSaver account or must go down to their bank?

 

[maumu]

For the CIMB online placement 1.84% promotion,
What happens at maturity? Can auto credit to FastSaver account or must go down to their bank?

choose to credit back to fastsaver. the FD account will then become $0.

 

[keemmeng]

choose to credit back to fastsaver. the FD account will then become $0.

My maturity instruction was to transfer the FD to Fastsaver-i. the FAST daily transaction limit is $50,000 if u wanna transfer the funds out

Sent from Samsung Galaxy Note 9 using GAGT

 

[therat]

Sing investment
1.82% 50k min 13 mth

https://www.sif.com.sg/fixed-deposit.php
click "for our promotion on Special Fixed Deposit Rates"

They also had short term FD 6 mth 20k min

Good for those who does not want to commit 13 mths.

 

[Intel888]

Thanks for the info, bros.
Other than CIMB that can place and redeem FD online, still have others?