OCBC FD for CPF?

[Skypower]

Does OCBC offer FD for CPF Ordinary?

 

[Keverus]

FD rates around 1%...

CPF OA at 2.5%.....

 

[Skypower]

Getting my flat soon, thus...

 

[Shiny Things]

FD rates around 1%...

CPF OA at 2.5%.....

Yeah, this. There's no point putting the money in a fixed deposit earning 1% when you can just leave it alone and get 2.5%.

 

[luvalist]

you talking about this? OCBC - CPF Investment Account

with all the service charge and all, you need a return more than 2.5% to justify putting your money into somewhere else.

 

[archcherub]

you talking about this? OCBC - CPF Investment Account

with all the service charge and all, you need a return more than 2.5% to justify putting your money into somewhere else.

maybe can suggest to TS what stocks to buy to get a potential return of more than 2.5%?

Given that STI in reds now, may be a good time to scoop some stocks at a low price.... perhaps for good stocks with returns or dividends more than 2.5%

 

[Skypower]

No one yet to answer my question

 

[luvalist]

Does OCBC offer FD for CPF Ordinary?

Call OCBC?

 

[dork32]

i think ts want to put cpf money away for a short period of time. if money remains in cpf, hdb will wipe it all out when his flat comes.

he is willing to sacrifice the "high" cpf interest for a short period of time such that he can maintain more balance in the cpf after he gets his house.

 

[lzydata]

i think ts want to put cpf money away for a short period of time. if money remains in cpf, hdb will wipe it all out when his flat comes.

he is willing to sacrifice the "high" cpf interest for a short period of time such that he can maintain more balance in the cpf after he gets his house.

If that's really his intention, there was a thread on this here some time back, but I don't remember what the exact wording was. He can look at that thread for more advice.

As for his question, yes all 3 operators offer FDs for CPF investment accounts according to their websites, but in practice I am not sure since I have never asked them about that.

 

[Skypower]

i think ts want to put cpf money away for a short period of time. if money remains in cpf, hdb will wipe it all out when his flat comes.

he is willing to sacrifice the "high" cpf interest for a short period of time such that he can maintain more balance in the cpf after he gets his house.

Yes, that's my intention.

 

[highsulphur]

Transfer from OA to SA...

There's your 4% FD.

 

[Skypower]

Transfer from OA to SA...

There's your 4% FD.

BAD recommendation

 

[libertizer]

maybe can consider putting $20k CPF $ into those low risk cash fund.
after the CPF wiped out your CPF, take the $20k out and earn 2.5% + 1%.

on the side note, it is better to top up your medisave account for 4%, than to SA. Medisave is more useful than SA.

 

[zoossh]

i think ts want to put cpf money away for a short period of time. if money remains in cpf, hdb will wipe it all out when his flat comes.

he is willing to sacrifice the "high" cpf interest for a short period of time such that he can maintain more balance in the cpf after he gets his house.

i dun quite understand. so one would rather use loan to pay for the house at a lower rate, then place the money in cpf investment scheme from banks back to cpf later, so as to earn the higher 2.5% interest over a longer time, and maybe get to draw it out when retired?

 

[dork32]

i dun quite understand. so one would rather use loan to pay for the house at a lower rate, then place the money in cpf investment scheme from banks back to cpf later, so as to earn the higher 2.5% interest over a longer time, and maybe get to draw it out when retired?

you are prob very young and not paying for your home.

some people worked in unstable jobs. high chance that they may lose their jobs anytime.

if their cpf is 0 and they lose the job, they cant repay the hdb loan. hdb will repo their home.

if their cpf is 20k and they lose the job, the cpf can help pay the loan for many months before you kena evicted. it is likely that they will find a job during that time and will not be kicked out at all.

it is normal that people will look after their lowest level needs first.

 

[dork32]

if you are on a bank loan, you can decide how you want to leave in your cpf.

 

[Skypower]

CPF to Bank FD
HDB clear cpf
Bank FD to CPF

*this way i am earning more interests thru CPF than repaying HDA loan interest.

 

[dork32]

CPF to Bank FD
HDB clear cpf
Bank FD to CPF

*this way i am earning more interests thru CPF than repaying HDA loan interest.

if you are thinking about earning more interest thru cpf, you might as well as transfer from oa to sa.

oa earns 3.5% on first 20k. but if you look at the fine print 2.5% go to oa and 1% go to sa. you will be paying 2.6% on hdb loan.

if you are hoping to do this, oa loses, sa wins. it is like transferring money from oa to sa

 

[Skypower]

if you are thinking about earning more interest thru cpf, you might as well as transfer from oa to sa.

oa earns 3.5% on first 20k. but if you look at the fine print 2.5% go to oa and 1% go to sa. you will be paying 2.6% on hdb loan.

if you are hoping to do this, oa loses, sa wins. it is like transferring money from oa to sa

Let me explain myself
- all these while the $$$ is meant for HDB loan repayment.

Only ppl who think outside the box do understand me.