Lastest S$ Deposit updates - Part 3

[luckygal]

Take note of the $200 min maintenance fee. Also if we fail to maintain that, the early closure fees..

Is there any catch? Terms and conditions to qualify for the higher interest rate?
There is no multiple qualification conditions. The only 2 requirements are 1) the initial minimum amount to open the account is $500.00 and 2) you must maintain a minimum balance of $200.00 at all time. If for whatever reasons your balance fall-below $200.00 we must request that you close the account. Terms and conditions for early closure or termination applies.

There will be a total early closure fee of $55.00 for account closed within 6 months comprising of $25.00 for the Vivid Savings Account and $30.00 for early termination of the Vivid Card.

So that means during the one year of FD, just maintain $200 in the savings account or they call it vivid account. After the FD matures, close both accounts.

 

[peppermint7]

Thanks for the update....

Is opening the Vivid Savings Account and getting the Vivid Card. Immediate. after the online application is completed ?

Thanks for sharing your experiences please....

Cheers

Ah i didn't have any of their accounts. I'm only reading through their FAQs here..

https://www.singapurafinance.com.sg/faq.php

As to your questions, this is what it says.

How do I activate my account?
Simply transfer a minimum deposit of $500.00 via PayNow to Singapura Finance UEN 196900340N by indicating your account number under the Reference field to activate your account.


I have activated my Vivid Savings Account but I did not receive my Vivid Card.
Your Vivid Card will be mailed to your registered address or mailing address within 7-14 business days after the creation of your Vivid e-Wallet on your mobile device and the successful activation of your account. Watch for our SMS and email notification.

Also, this is something extra to take note..

I deposited $500.00 via PayNow to my Vivid Savings Account at 10 a.m. this morning. However, I still cannot see the new balance in my account now at 2 p.m. Why is this so?
As deposit made through PayNow does not have a fixed format reference field, we need to verify each payment via PayNow before crediting the money to the Vivid Savings Account. As such, the crediting will not be immediate. As a general rule, deposit received before 4 p.m. on a working day will be credited to the account on same day. Payment received after 4 p.m. on a working day or on a weekend/public holiday will be credited on the next working day.

 

[peppermint7]

So that means during the one year of FD, just maintain $200 in the savings account or they call it vivid account. After the FD matures, close both accounts.

Yes it seems to be so as it says Upon maturity the principal amount and interest earned will be credited to Vivid Savings account. So we need to maintain it until the time is up. Unless you don't mind the maintenance fees of $200 to keep it alive. As for the closure of account, we need to go down physically to any of their customer centres..


I wish to close my Vivid Savings Account. How do I do that?
Firstly, please ensure you have already uploaded a signature for your account. Please visit any of our Customer Centres to close your Vivid Savings Account. Do note that your Vivid e-Wallet and Vivid Card will automatically be terminated once your account is closed.

 

[qhong61]

Ah i didn't have any of their accounts. I'm only reading through their FAQs here..

https://www.singapurafinance.com.sg/faq.php

As to your questions, this is what it says.

How do I activate my account?
Simply transfer a minimum deposit of $500.00 via PayNow to Singapura Finance UEN 196900340N by indicating your account number under the Reference field to activate your account.


I have activated my Vivid Savings Account but I did not receive my Vivid Card.
Your Vivid Card will be mailed to your registered address or mailing address within 7-14 business days after the creation of your Vivid e-Wallet on your mobile device and the successful activation of your account. Watch for our SMS and email notification.

Also, this is something extra to take note..

I deposited $500.00 via PayNow to my Vivid Savings Account at 10 a.m. this morning. However, I still cannot see the new balance in my account now at 2 p.m. Why is this so?
As deposit made through PayNow does not have a fixed format reference field, we need to verify each payment via PayNow before crediting the money to the Vivid Savings Account. As such, the crediting will not be immediate. As a general rule, deposit received before 4 p.m. on a working day will be credited to the account on same day. Payment received after 4 p.m. on a working day or on a weekend/public holiday will be credited on the next working day.

Why must by paynow

 

[wutawa]

Can't you do multiple FD applications? i.e. 5 X 19,999.

I tink primary acct holder must be different for DBS.

 

[sesame246]

Take note of the $200 min maintenance fee. Also if we fail to maintain that, the early closure fees..

Is there any catch? Terms and conditions to qualify for the higher interest rate?
There is no multiple qualification conditions. The only 2 requirements are 1) the initial minimum amount to open the account is $500.00 and 2) you must maintain a minimum balance of $200.00 at all time. If for whatever reasons your balance fall-below $200.00 we must request that you close the account. Terms and conditions for early closure or termination applies.

There will be a total early closure fee of $55.00 for account closed within 6 months comprising of $25.00 for the Vivid Savings Account and $30.00 for early termination of the Vivid Card.

where do you get this information on $200 min fee?

 

[pratik28]

where do you get this information on $200 min fee?

I guess he just refer to maintain $200 minimum balance but it is not fee la. Just like how singlife a/c need to maintain $100. These are reasonably low minimum balances to maintain!

 

[PhantomOpera]

Came across this article. Tot useful to share here
https://growbeansprout.com/singapor...TsVaeSig6_lxbEQ2WQ_aem_7Y1FfDaNHNxZ-eqm5GZN9Q

 

[PhantomOpera]

Actually if you are into investment for many years you will see trend come and go. Only a few years back FD was real pathetic before it spike up. Now we should be witnessing the drop. It is like stock price up and down. Need to source alternatives instead of hanging on and restrict oneself to just FD. But if one see red colour get heart attack then yes continue to focus on FD which keep dropping across board matter of time.

I am actually invested in other stuff except for FDs all this while. But I am liquidating some investments and looking at parking into ST FDs for now as will be using those funds for other uses in the next 1 year or so.

 

[peppermint7]

where do you get this information on $200 min fee?

All quote unquote from the FAQ listed here..

https://www.singapurafinance.com.sg/faq.php

>Questions Pertaining To Vivid Savings Account

>What is the initial deposit? Minimum amount to open the account?
An initial deposit of $500.00 is required to open the account. After which, a minimum of $200.00 must be maintained.

(I believe it is talking about min maintenance not fee.)

The paynow question can also be found inside.

 

[luckygal]

All quote unquote from the FAQ listed here..

https://www.singapurafinance.com.sg/faq.php

>Questions Pertaining To Vivid Savings Account

>What is the initial deposit? Minimum amount to open the account?
An initial deposit of $500.00 is required to open the account. After which, a minimum of $200.00 must be maintained.

(I believe it is talking about min maintenance not fee.)

The paynow question can also be found inside.

$500 is needed to open the account but to maintain is $200. Then when can actually withdraw the $300? Like immediately after the opening?

 

[pratik28]

$500 is needed to open the account but to maintain is $200. Then when can actually withdraw the $300? Like immediately after the opening?

ya immediately can withdraw once a/c open, its more of a account opening formality only. Even cimb same can maintain $0 bal but for a/c opening must transfer 1k first, they call it Minimum Initial Deposit

 

[luckygal]

I dl the singapura finance app but cannot register. It said register with account number but the purpose of registering means I don't have an account yet mah

 

[ckman3]

From BOC app, wef 30 Sep 2024, the Online FD rates for :

6mths 2.8%
9mths 2.7%
12mths 2.7%

Min amt 0.5K

 

[bargin]

BOC FD rates @300924 drop like grapes !
All FD rates drop across the board except for 24mths @2.00%p.a.

 

[~sabaisabai~]

SingLife i oso didn't order. The $10k there are to be locked up for 2.5% interest. Best not to touch until decide to exit completely.

But this CIMB atm card can withdraw at Malaysia also. Apart from that i love to subscribe to ATM card where i can deposit $ without long queues

So i don't mind keeping this CIMB one for life since no fall below fee and hassle free

singlife 2.5% now? tot is 3%?

 

[~sabaisabai~]

From BOC app, wef 30 Sep 2024, the Online FD rates for :

6mths 2.8%
9mths 2.7%
12mths 2.7%

Min amt 0.5K

oh then maybank issavy still good, 3.1% for 6mth but min 20k

 

[peppermint7]

singlife 2.5% now? tot is 3%?

That was year 2020 post

 

[~sabaisabai~]

That was year 2020 post

oops. paiseh

 

[mosmos]

Singapura Finance offers Vivid Fixed Deposit at 3.2% for 12mths. Min 50K.

https://www.singapurafinance.com.sg/personal_svv_fixed_deposit.php

dropped to 2.9% now

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