RHB fixed deposit
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BBCWatcher
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It appears that RHB Singapore has ended their fixed deposit offer.
Supersen
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henrylbh
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1.7% pa only
Even SCB is giving 1.7% and Maybank is giving 1.75% on ordinary savings accounts.
If you want higher rate, why not buy DBS 4.7% ncps. If it is recalled this Nov, the yield 2.45% at least after factoring the premium paid. Hopefully it won't be recalled, then can say yield is 4.7% payable semi-annually. In the face of declining interest, I bonked 100k into this security and hope it's truly a perpetual security
BBCWatcher
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RHB has pulled their offer, but ICBC is still currently offering 1.7% on fixed deposits.1.7% pa only
Interest rates on ordinary savings accounts can change at any time, and they surely will be reduced if the current falling interest rate trends persist. Fixed deposits offer a rate lock, and bonds even longer.
If you're referring to ISIN SG2C54964409, the yield to call is more like 2.064% currently (as I write this), after costs. I don't think that's terrifically attractive for a BBB rated note. This note will surely be called.If you want higher rate, why not buy DBS 4.7% ncps. If it is recalled this Nov, the yield 2.45% at least after factoring the premium paid. Hopefully it won't be recalled, then can say yield is 4.7% payable semi-annually. In the face of declining interest, I bonked 100k into this security and hope it's truly a perpetual security
BBCWatcher
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Maybank Singapore has evidently pulled that particular offer, and it wasn't 2.05% net anyway.
1.7% pa only
Even SCB is giving 1.7% and Maybank is giving 1.75% on ordinary savings accounts.
If you want higher rate, why not buy DBS 4.7% ncps. If it is recalled this Nov, the yield 2.45% at least after factoring the premium paid. Hopefully it won't be recalled, then can say yield is 4.7% payable semi-annually. In the face of declining interest, I bonked 100k into this security and hope it's truly a perpetual security
your maybank 1.75% only 1 mth wor
scb maybe for 1 mth only
april sure drop wan
BBCWatcher
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Your Singapore dollar deposits at ICBC Singapore, and at other banks in Singapore, are SDIC protected up to $75,000 total per depositor.
Yes, ICBC Singapore is currently offering 1.7% on 12 month fixed deposits, minimum placement $20,000. However, their 12 month "Step-Up Fixed Deposit" looks slightly more attractive since it's a $5,000 minimum to open and still offers 1.7%, but with "steps" if you'd like to withdraw earlier.
wah their step up 1.9%!!! actually what is the difference between setup and normal fixed deposit?
EIR 1.700 at 12mo, 1.633 at 9mo, where hv 1.9...
maybank 2.05 is still around. it is net 2.05
Is it targeted? Or anyone can open?
anyone can
BBCWatcher
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I see it now. It’s a 36 month time deposit.
Not exactly. What I’m referring to is that you need an ordinary account with Maybank, with its own minimum balance requirement, to get that time deposit. Most people don’t have an existing consumer bank account with Maybank, so you have to factor the reduced interest on the savings or current account into the equation. You’re also not allowed to close the savings or current account before the time deposit matures if you want to preserve the rate. That’s not too bad since you can get away with a $500 minimum balance, but it’s some effective reduction in the “headline” rate.
It’s a generally advertised rate. For the moment. But do you need a 36 month fixed deposit? If you received a windfall and expect to have a big bill to pay 36-40 months from now, such as a tuition bill in Singapore, OK, but this isn’t too generally useful. I’d also stay within the SDIC coverage limit.
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BaChorMee
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Hi 1.7% with RHB is still ongoing till 31-March. I just open one yesterday.
BBCWatcher
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OK, good to know. They’ve stopped advertising it, which is understandable given recent interest rate trends. I still think ICBC’s 12 month “Step Up” 1.7% EIR fixed deposit is the better deal, because you can bail out early if need be with some still decent interest, and the minimum to open is quite low. They also have a few more branches than RHB has.
I expect this month (March, 2020) is going to be the last month for a while with decent fixed deposit and SSB offers. For those of you sitting on big cash piles — you shouldn’t be, but if you are — this’ll be “last call.”
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