new structured deposit from ocbc

[foxer77]

term 6 year with intrest at 1.8% for first 3 year and last 3 year at 1.85%

seem good with full principle protect through maturity date

 

[foxer77]

anyone had put into this?

 

[crimsontactics]

SSB better at 2.06% pa.

For ppl age 49 & above can consider CPF SA @ 4 to 5%.

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[newjungle]

Can use SRS to buy?

 

[OCBC Bank]

Hi all,

Should you wish to find out more on this, do drop us a PM with your contact details and preferred branch.

We could arrange for our Personal Financial Consultants to call and advise.

^DG

 

[wahkao3]

dont bothered
CPF pay more. anything less than CPF no need to think further. the banks are taking you for a ride by paying such low rates

 

[crimsontactics]

dont bothered
CPF pay more. anything less than CPF no need to think further. the banks are taking you for a ride by paying such low rates

Might as well buy OCBC shares and hold for 6 years...

 

[mrtanbg]

Hi all,

Should you wish to find out more on this, do drop us a PM with your contact details and preferred branch.

We could arrange for our Personal Financial Consultants to call and advise.

^DG

while everyone is different and has different needs and expectation of returns , my sense is that structured products should not be pushed to the general public. It is as clear as daylight that marketing this in my humble opinion is a desperate move by the bank to shore up their numbers.

 

[Shiny Things]

term 6 year with intrest at 1.8% for first 3 year and last 3 year at 1.85%

seem good with full principle protect through maturity date

Nope, that's an awful yield; OCBC's trying to get cheap term funding by taking advantage of people who don't know to shop around. As someone pointed out upthread, you'd much rather own Singapore Savings Bonds (yielding 2-ish percent), or A35 (yielding 2.5-ish percent, but not capital protected), or put your money in CPF.

 

[kevinkoh1992]

Nope, that's an awful yield; OCBC's trying to get cheap term funding by taking advantage of people who don't know to shop around. As someone pointed out upthread, you'd much rather own Singapore Savings Bonds (yielding 2-ish percent), or A35 (yielding 2.5-ish percent, but not capital protected), or put your money in CPF.

Technically speaking, August's SSB is offering worse rates at 1.65 for a time frame of 6 years. But of course, if TS has a longer time frame to work with, do consider other options!

Anw, structured deposits, in my opinion, is a really screwed product, with the bank havings the rights to call back the deposit while you could do nothing with the locked funds if there are better alternatives out there.

 

[Shiny Things]

Technically speaking, August's SSB is offering worse rates at 1.65 for a time frame of 6 years. But of course, if TS has a longer time frame to work with, do consider other options!

Yeah, fair point - SSBs pay slightly less on the face of it.

Still, 17bps over Singapore government bonds isn't a fair compensation for the extra risk of taking OCBC's credit. The going rate for six-year OCBC credit risk is closer to 75bps over; this would be a fair trade if it paid 2.4% or thereabouts.

 

[SBC]

Is this structured deposit qualified product with OCBC 460?

- additional 0.6% for 20k deposit, for 12 mths
- additional 1.2% for 40k deposit, for 12 mths

Worth the consideration ?

 

[staedtler_07]

Is this structured deposit qualified product with OCBC 460?

- additional 0.6% for 20k deposit, for 12 mths
- additional 1.2% for 40k deposit, for 12 mths

Worth the consideration ?

Yes it is, think you get the extra 1% in your 360 account. If you've spare cash, why not?

If you want to know more, I can intro you to my RM.

 

[Knight_Rider]

dont bothered
CPF pay more. anything less than CPF no need to think further. the banks are taking you for a ride by paying such low rates

CPF profits can take out meh?

 

[wahkao3]

CPF profits can take out meh?

Can take our or not, doesnt matter to me. As long as eventually can take out for retirement

 

[SBC]

Yes it is, think you get the extra 1% in your 360 account. If you've spare cash, why not?

If you want to know more, I can intro you to my RM.

Is additional interest at 1%?

I just made a check on portal is 0.6% and 1.2%

 

[unhinged_loon]

Yeah, fair point - SSBs pay slightly less on the face of it.

Still, 17bps over Singapore government bonds isn't a fair compensation for the extra risk of taking OCBC's credit. The going rate for six-year OCBC credit risk is closer to 75bps over; this would be a fair trade if it paid 2.4% or thereabouts.

Credit risk premium, something that most people fail to consider.

 

[staedtler_07]

Is additional interest at 1%?

I just made a check on portal is 0.6% and 1.2%

0.6% if its at least 20k, 1.2% if its at least 40k for structured deposit

 

[kitkat2]

Might as well buy OCBC shares and hold for 6 years...

with the major indices at record high, is now a good time to buy and hold?

 

[crimsontactics]

with the major indices at record high, is now a good time to buy and hold?

Most people don't buy low sell high...

They buy high sell higher...

You will never be able to catch the bottom...

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