Lastest S$ Deposit updates - Part 3

[pratik28]

I hope MMFs, Mari invest, Trust Invest, Choc Finance, etc than ISPs like Singlife, Dash pet, SIF Gosaver, etc than digital banks like Trust, Gxs, Mari all the forces together competitively can continue tn offer 1.5% to 2% even after fed rate cuts!

 

[pratik28]

Endowment?

https://dash.com.sg/dashpet2

saw it here from many months alr but seldom see ppl talking abt it,
2.8% 1yr
3% 3yr
Havent read fine details yet!
but ya, should be lock-in with premature withdrawal penalty

 

[DevilPlate]

Referring to USA, and how it'll indirectly impact the interest rate for Singapore

The rest of the world including SG has decoupled from US Fed fund rate liao.
Look at our SORA rates been declining steadily while US FFR still the same.

 

[pratik28]

US & China musical chair for the crown, thanks to D. Trump haha.
Must start exploring USA S&P500 equivalent etf in china, haha

 

[ctan84]

https://dash.com.sg/dashpet2

saw it here from many months alr but seldom see ppl talking abt it,
2.8% 1yr
3% 3yr
Havent read fine details yet!
but ya, should be lock-in with premature withdrawal penalty

Seems to be a straightforward endowment plan with 2 options: 1 yr or 3 yr, isn't it?

 

[Zubuto]

HL bank is not HL finance right? Don’t see this promo on HL bank website.

Call their CS at 60289800 to confirm or visit their branch at Tg Pagar MRT.

 

[henrylbh]

HL bank is not HL finance right? Don’t see this promo on HL bank website.

HL Bank is my entity while HL Finance is sg entity. Hence companies are NOT related but owners are related

 

[demoforce1]

Call their CS at 60289800 to confirm or visit their branch at Tg Pagar MRT.

what is HLB rate?

 

[Guojing88]

Dash Pet 2 offer 3% for 3yr lock-in, still reading abt it! its ISP I beliv

This is where its gets confusing. If I already have singtel dash, I have to top up my dash wallet first before the dash pet 2 is avaliable?

Then, once I have money in dash pet 2, it will get 1%, but then I have to make another decision to create a 3 year plan to get the 3%?

Is that how it works?

 

[DevilPlate]

OCBC Premier Dividend+ reduce from 2.95% to 2.35% from 1st June

 

[banyan8]

Seems to be a straightforward endowment plan with 2 options: 1 yr or 3 yr, isn't it?

Can no longer top up Dash account balance using a credit card?

Clause 3.2 in https://www.tiq.com.sg/wp-content/uploads/2023/02/Dash-PET-2_TermsAndConditions.pdf
"The crediting rate is not guaranteed and may increase or decrease, at our discretion, depending on
the performance of the underlying asset portfolio, specifically identified and managed for your product
series only, subject to a minimum of 0% which ensures that Your capital is fully guaranteed each year.
We reserve the right to revise the crediting rate at any time by giving You thirty (30) days’ written
notice. Any revision in crediting rates will take effect on the 1st business day of each calendar month.
Please refer to our Tiq website for the latest crediting rates."

The prevailing credit rate is only 1%pa for first 50k. See https://www.tiq.com.sg/dash-plans-crediting-rates/.

 

[maumu]

Can no longer top up Dash account balance using a credit card?

Clause 3.2 in https://www.tiq.com.sg/wp-content/uploads/2023/02/Dash-PET-2_TermsAndConditions.pdf
"The crediting rate is not guaranteed and may increase or decrease, at our discretion, depending on
the performance of the underlying asset portfolio, specifically identified and managed for your product
series only, subject to a minimum of 0% which ensures that Your capital is fully guaranteed each year.
We reserve the right to revise the crediting rate at any time by giving You thirty (30) days’ written
notice. Any revision in crediting rates will take effect on the 1st business day of each calendar month.
Please refer to our Tiq website for the latest crediting rates."

The prevailing credit rate is only 1%pa for first 50k. See https://www.tiq.com.sg/dash-plans-crediting-rates/.

This is where its gets confusing. If I already have singtel dash, I have to top up my dash wallet first before the dash pet 2 is avaliable?

Then, once I have money in dash pet 2, it will get 1%, but then I have to make another decision to create a 3 year plan to get the 3%?

Is that how it works?

yeah I'm not sure if I understand it correctly too.

there's the base 1% interest accured daily (but credited monthly), and then there's the supposedly ADDITIONAL (+) 3% interest for 3-years locked in.

so is that supposed to be 4% total?

 

[maumu]

I'm curious how they publicised:
- $497 interest based on $50,000 savings at 1% crediting rate (shouldn't it be $500?)
- $4,636 interest for 3-year fixed plan on $50,000 savings at 3% interest rate

there's no illustration of calculations shown on the website or tnc documents...

not sure if signed up for 3-year fixed plan, does it mean we give up the base 1% crediting rate, or is it ON TOP OF the base 1% or is it combined as 3%.

quite confusing.

 

[banyan8]

I'm curious how they publicised:
- $497 interest based on $50,000 savings at 1% crediting rate (shouldn't it be $500?)
- $4,636 interest for 3-year fixed plan on $50,000 savings at 3% interest rate

there's no illustration of calculations shown on the website or tnc documents...

not sure if signed up for 3-year fixed plan, does it mean we give up the base 1% crediting rate, or is it ON TOP OF the base 1% or is it combined as 3%.

quite confusing.

Can't sign up. Stuck at the name input step after my Singpass info is retrieved. The input field is blank but typing manually got double characters. The Next button is also disabled. How about you?

 

[pratik28]

With effect from 30 May 2025, we’re adjusting our GXS Savings Account rates.

- The interest rate for Main Account will be adjusted from 2.08% p.a. to 1.68% p.a.
- The interest rate for Saving Pockets will be adjusted from 2.38% p.a. to 1.98% p.a.

 

[pratik28]

This is where its gets confusing. If I already have singtel dash, I have to top up my dash wallet first before the dash pet 2 is avaliable?

Then, once I have money in dash pet 2, it will get 1%, but then I have to make another decision to create a 3 year plan to get the 3%?

Is that how it works?

yeah I'm not sure if I understand it correctly too.

there's the base 1% interest accured daily (but credited monthly), and then there's the supposedly ADDITIONAL (+) 3% interest for 3-years locked in.

so is that supposed to be 4% total?

I havent do it yet too.

But ya, it is either 1% if havent lock OR 3% if 3yr lock-in, 2.8% If 1yr lock-in.
just remember we cant premature withdraw like a normal bank FD,
best to call CSO for precise criteria!

 

[henrylbh]

T

OCBC Premier Dividend+ reduce from 2.95% to 2.35% from 1st June

That's the message I received this morning. Hope by that time, DT upset the market again This round was short of fund to enter the market as fund is tied up in OCBC yielding 2.95% and POSB's FD yielding 3%.

 

[maumu]

I havent do it yet too.

But ya, it is either 1% if havent lock OR 3% if 3yr lock-in, 2.8% If 1yr lock-in.
just remember we cant premature withdraw like a normal bank FD,
best to call CSO for precise criteria!

hmmm is it OR or AND?

From the website:
• Earn total returns of 1% p.a. crediting rate
+ 3% p.a. on your 3-year fixed plan
+ 2.8% p.a. on your 1-year fixed plan

the '+' means AND right? lol... they should provide an example.

 

[pratik28]

hmmm is it OR or AND?

From the website:
• Earn total returns of 1% p.a. crediting rate
+ 3% p.a. on your 3-year fixed plan
+ 2.8% p.a. on your 1-year fixed plan

the '+' means AND right? lol... they should provide an example.

oh thats possible too,
I am not sure as I just assumed 4% in current environment unlikely, thats why I said either 1% or 3% lock-in funds.
Just like GXS main a/c vs boost pocket lock-in funds haha.
Though its totally different products!

 

[oceanicmanta]

hmmm is it OR or AND?

From the website:
• Earn total returns of 1% p.a. crediting rate
+ 3% p.a. on your 3-year fixed plan
+ 2.8% p.a. on your 1-year fixed plan

the '+' means AND right? lol... they should provide an example.

as this is insurance savings product

the "crediting rate" refers to that part of the interest that is accrued daily, becomes "guaranteed" and adds to your Account value

ie shld u premature cancel, the accumulated interest is secured

if you hold til maturity, you are still getting either 2.8%pa or 3%pa