Shares & Derivatives
Chinese New Year 2016 Fixed Deposit Promotions
By My Sweet Retirement  •  January 11, 2016
Chinese New Year 2016 is approaching soon. Every year this time, banks will offer promotional fixed deposit rates. Last year, I placed my money with POSB for 12 months at a promotional interest rate of 1.88 percent. I also got the S$88 lucky Ang Bao (“red packet”) that was offered for the first 10,000 customers. Personally, I felt that the promotional interest rates this year was not fantastic and in fact, most banks are offering lower interest rates as compared to last year. If you compare it with the Singapore Savings Bonds, the interest rate look even worst. February Singapore Savings Bonds offer an interest rate of 2.5% over 10 years with no lock in period. However, we know there are many factors to consider besides the interest rate. For example, you need to compare against the holding period between a bond and fixed deposit. Below is ......
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.
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