UOB One interest rate dropping??

[thegiantmarshmallow]

Hear say on the grapevine that UOB one account interest rate going to drop from 5% to 4% from 1st May

Anyone heard the same?

 

[item2sell]

Sounds bad

 

[thegiantmarshmallow]

Yeah I read telegram
)

it is 4% and even then need $150k

 

[bombshell]

Once feds cut interest rates, all the banks, tbills, money markets, etc will follow.
The good days of risk free 3-4% interest rates will be over soon.

 

[chiokcc]

Yeah I read telegram
)

it is 4% and even then need $150k

That will be about $500 average bonus interest ......

 

[sohguanh]

Not only such account I believe FD TBill SSB etc all will be affected soon. Earlier I already suggest leave a small portion for quick deployment into equities investment. Play all kinds of investment instrument so when one is down the other should be up.

 

[sglandscape]

Hear say on the grapevine that UOB one account interest rate going to drop from 5% to 4% from 1st May

Anyone heard the same?

Would not be surprised, they already hinted at their q4 earnings announcement they would manage the deposit cost down, and the first thing they did was to change the FD board rate

 

[thegiantmarshmallow]

That will be about $500 average bonus interest ......

$500 for $150k vs $400 for $100k is a big difference

 

[Sambuca78]

$500 for $150k vs $400 for $100k is a big difference

Still consider not bad liao. At least they up it to 150k

 

[kimsix]

when fed cut rates? omg will stocks chiong or already priced in?

 

[chiokcc]

Still consider not bad liao. At least they up it to 150k

SDIC increasing from $75k to $100k from next Monday .... So it makes sense to increase the upper deposit limit .....

 

[royalmix]

$500 for $150k vs $400 for $100k is a big difference

at least you breakeven! Spend 500 get 500!

(not vested)

 

[yslvlys]

at least you breakeven! Spend 500 get 500!

(not vested)

It's better right? Now can't even break even. I think in May at 4%p.a., it will still be the highest interest deposit rate around.

 

[DevilPlate]

when fed cut rates? omg will stocks chiong or already priced in?

Inverted yield curve…..based on history, quite high chance to see a big stock market correction months after fed first rate cut LOL

 

[CrashWire]

It's better right? Now can't even break even. I think in May at 4%p.a., it will still be the highest interest deposit rate around.

Why would it be "better"?

That's $50k more that is helping earn the $100 difference.

For comparison, $50k in Fullerton SGD (3.62%) would earn $153. $100k in UOB one currently earns around $416 a month. We can get $569 for $150k in April.

In May (assuming Fullerton SGD rate stays the same), our money will earn ~12.2% less than in April.

 

[abcde78]

Why would it be "better"?

That's $50k more that is helping earn the $100 difference.

For comparison, $50k in Fullerton SGD (3.62%) would earn $153. $100k in UOB one currently earns around $416 a month. We can get $569 for $150k in April.

In May (assuming Fullerton SGD rate stays the same), our money will earn ~12.2% less than in April.

then dont put lor?
if you continue to place means it's the best one can get.

stop complaining

 

[sglandscape]

Why would it be "better"?

That's $50k more that is helping earn the $100 difference.

For comparison, $50k in Fullerton SGD (3.62%) would earn $153. $100k in UOB one currently earns around $416 a month. We can get $569 for $150k in April.

In May (assuming Fullerton SGD rate stays the same), our money will earn ~12.2% less than in April.

Not the same risk. You could always put all in Fullerton SGD though.

 

[maumu]

this change will only favour those with big pockets... what's another 50k to them to park in UOB? lol

 

[DevilPlate]

this change will only favour those with big pockets... what's another 50k to them to park in UOB? lol

in fact the more the merrier for them whahaha

 

[abcde78]

in fact the more the merrier for them whahaha

that's right.
4% is still ok for liquid funds