as expected, in the current extreme low interest rate environment, dbs has announced it would cut interest rates for sing dollar deposit accounts with effect from october 14, 2011.
dbs, asia's safest bank, and south east asia's largest lender, has cut the interest rate for the first S$10,000 deposited in its "DBS Autosave (Personal)" account to 0.05 percent from 0.10 percent previously.
mr song seng wun, an economist at cimb research said:
"Increasing risk aversion have led people to keep money in the bank rather than putting it to work, like investing in stock markets or buying properties,"
and on the flip side, banks have been more careful of who to lend to which may see lending activity easing off as well.
my comments:
with the current market turmoil, there is perhaps very few other almost risk free alternatives to leaving monies in the financial institutions which offers ......
as expected, in the current extreme low interest rate environment, dbs has announced it would cut interest rates for sing dollar deposit accounts with effect from october 14, 2011.
dbs, asia's safest bank, and south east asia's largest lender, has cut the interest rate for the first S$10,000 deposited in its "DBS Autosave (Personal)" account to 0.05 percent from 0.10 percent previously.
mr song seng wun, an economist at cimb research said:
"Increasing risk aversion have led people to keep money in the bank rather than putting it to work, like investing in stock markets or buying properties,"
and on the flip side, banks have been more careful of who to lend to which may see lending activity easing off as well.
my comments:
with the current market turmoil, there is perhaps very few other almost risk free alternatives to leaving monies in the financial institutions which offers ......
