Suddenly FD rates went up

[enimen]

it will slowly creep up. by end of the year probably 2.3-2.5%. msian/cn banks traditionally the highest. dbs wait long long...but if they do follow means something is very very serious liao.

not surprised since they are trying to control inflation before things spiral out of control. coe is a good indicator assuming both corp and consumers are buying cars....with rising retrenchments, coe still all time high. hdb selling for 2.1mil. siao one...

economics fundamentals are going bonkers in sg...not that it hasnt been...economy not doing well, increase gst also executed before.

I don't understand. How come rising retrenchments but COE still so high.

 

[Ironside]

I don't understand. How come rising retrenchments but COE still so high.

I think a lot of civil servants each bid one coe and also those driving grab.

 

[audiovideo]

if HSBC starts to offer anything 6%, be very scared

 

[Shion]

we need the economy to crash jialatz jialatz then shiokz... @Shion

all in FD !

 

[enimen]

I think best case in such situation is you don't owe any bank loans and you have fixed D in banks to enjoy the high interest rates

 

[Visor9999]

Sg inflation latest is skyrocketing. FD will keep going up

 

[obsceneK2]

I don't understand. How come rising retrenchments but COE still so high.

Because COE is controlled by so called "market"

 

[virtualape]

I don't understand. How come rising retrenchments but COE still so high.

thats why i said economic fundamentals bonkers one in sg. perhaps its precisely because of this, big whales park their funds here.

for your question, 2 possible scenarios. rental companies are facing higher demand for rental so buy more cars...aka more people wanting to drive phv...still employed but need side line to supplement or those retrenched previously now deciding to drive.

or consumers still employed and unlikely to tio pok, die die need car buy. financing is easy now. but i think the first scenario more likely. theres no breakdown so cant really tell which is the bigger group of buyers.

 

[Visor9999]

TD tends to be upward sticky, afterall banks earn from the spread. But at the end of the day, liquidity conditions determine the direction

also have to blame sg gov policies causing inflation to be the highest in many years

https://sg.news.yahoo.com/singapore...rd-month-to-highest-since-2024-061844984.html

 

[virtualape]

we need the economy to crash jialatz jialatz then shiokz... @Shion

edmwers have been chanting crash crash for a long time....it never happened yet.

 

[Lchlch]

I think best case in such situation is you don't owe any bank loans and you have fixed D in banks to enjoy the high interest rates

1.8% and if a person has $1,000,000, FD interest is $18,000 per month.

 

[coyote]

Maybank
Last week 1.9%
This week 2.1%
https://www.maybank2u.com.sg/en/promotions/deposits/sgd-time-deposit.page

UOB
Last week 1.4%
This week 1.7%
https://www.uob.com.sg/personal/online-rates/singapore-dollar-time-fixed-deposit-rates.page

No such thing as "suddenly". You didn't know federal reserved fmoc raise interest rate by 0.25 percentage point just few days ago.

 

[obsceneK2]

1.8% and if a person has $1,000,000, FD interest is $18,000 per month.

Per year means 12 mths. So 18k per yr not mths.

18k÷12=1.5k per mth

 

[dushensiao]

Siao liao, rates up means need pay more mortgagem

 

[klim668]

Posb only 1% I checked few days ago.

 

[buttbERry]

depositing money now

 

[Kohliemliem]

Now 3M SORA going up and liquidity conditions in Singapore is tightening. So I just repriced to fixed rate. Knn.

Hopefully can hedge 2027 / 2028 .

Heng I repriced at rock bottom

 

[tan kuku]

Heng moi bai crypto

 

[Sadisticnoob]

cause fed increase rates.

 

[pohw0008]

Possibly raising another 0.25 this year to bring inflation back to 2%..