Search Results for: fixed deposit

CIMB Fixed Deposit at >1.2% p.a

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Just applied for the CIMB FD at 1.2% for 6 months with $20k. I have been thinking if I should apply for this or park my money into shares. Guess I'm not that stocks-savvy to take the plunge. Regardless, this FD will earn me an interest of around $120. With my BOC Smartsaver max out at $60k, this 1.2% interest is slightly better than me leaving the remaining money in my Fastsaver. Will … [Read more...]

My ARA Asset Management fixed deposit adventure.

When I shared my full year results end of last year, I mentioned ARA Asset Management's offer of $1.78 a share and how it translates to 35% to 78%capital gains for me if the offer is to be accepted. At the time, I had a fixed deposit maturing and ARA Asset Management's share price was at$1.71. So, I decided to plonk the money from the fixed deposit into their stock. It looked like it would … [Read more...]

Structured Deposit vs Fixed Deposit

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While searching for Chinese New Year fixed deposit promotions, I came across the above promotion advertised. The bank is offering structured deposit that offers up to 12.1% returns over 6 years. It sounds very attractive to me given the high interest rate. As I am not familiar with structured deposit, I decided to do some further research on it. What is a structured deposit? A structured … [Read more...]

Chinese New Year 2017 Fixed Deposit Promotion

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Banks usually offer higher promotional interest rates during Chinese New Year. Standard Chartered Bank seems to be the first mover that launch its Chinese New Year 2017 Time Fixed Deposit promotion. CIMB did not offer special interest rates for fixed deposits this year. Instead, they are giving away gift sets such as abalone and it is limited to a number of placements. I shall update the … [Read more...]

POSB 1.55% 6-month Fixed Deposit Promotion

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Hi all, FYI in case y'all aren't in the know, but POSB is having a 1.55% p.a. interest for 6 months if you deposit fresh funds. (T&C here) The way that this works is slightly different from previous fixed deposit promotions. You have to open up a special fresh funds account. Then you transfer in "fresh funds" into this account. Maintain the fresh funds until 4 Feb 2017. Your … [Read more...]

Behind Fixed Deposit Home Loan Rates

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Fixed Deposit Home Rate (FHR) loans are loans with interest rates tied to fixed deposit interest rates. Recently, such loans have become quite popular among property owners looking to finance their properties. They like such loans because the interest rates are much more stable than those of the Singapore Interbank Offered Rate (SIBOR) loans. In addition, it is perceived that if banks were to … [Read more...]

Chinese New Year 2016 Fixed Deposit Promotions

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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 … [Read more...]

Rude Shock – DBS increased Fixed Deposit Rates

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Woke up to a rude shock today....DBS bank has increased the fixed deposit rates! The US federal government increased their interest rates on 16 December 2015 and after 7 calendar days, DBS bank follows suit. Within 2 months of repricing my home loan at a repricing fee of $500, my home loan has increased.Previous loan if i had carried on = 0.96%(1 month sibor) + 1% spread=1.96%Current loan = 1.1% … [Read more...]

2015 December Fixed Deposit Rates Update – 1.80% P.A.

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations: Singapore's Deposit Insurance Scheme maximum coverage up to … [Read more...]

Fixed Deposit Home Rate – The Alternative Interest Rate To SIBOR

Interest rates are going up. This has been the concern for the past few months for many people. A rise in interest rates hurts borrowers and benefits savers. If you are a borrower, a rise in interest rates will really affect you. If you have existing loans such as car loans, housing loans and student loans, a rise in interest rates will mean you'll have to pay more every month to repay these … [Read more...]

2015 November Fixed Deposit Rates Update – 1.80% P.A.

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations: Singapore's Deposit Insurance Scheme maximum coverage up to … [Read more...]

CIMB Showdown: FastSaver VS Step-Up Fixed Deposit

I think regular readers would know that I have a very strong liking for CIMB recently with their range of no-frill products. Their Step-Up Fixed Deposit has always been an interesting product to me. Basically, at the end of every month you can decide if you need to withdraw your money, and you would still get accrued interest instead of forfeiting in an event of a withdrawal. I like this key … [Read more...]

Banks offering higher fixed deposit interest rates amid Singapore Savings Bonds competition. Will housing loan rates go up?

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One of the after effects of the government http://www.investmentmoats.com/budgeting/singapore-savings-bonds-ssb-start-issuing-september/ is that with a viable product for the consumer masses, with a limited money supply, the competition will be more. Straits Times today tallied how the banks are offering higher fixed deposit rates in light of this competition from SSB. Looks attractive and … [Read more...]

Fixed Deposit Rates Update – 1.70% P.A.at CIMB Bank

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations: Singapore's Deposit Insurance Scheme maximum coverage up to … [Read more...]

2.82% 6-month Fixed Deposit?!

Similar to the POSB 10.68% Fixed Deposit, I have found another interesting, but less tasty lobang. CIMB's new Q3 promotion for opening an account with them is up and THIS NEWS IS FRESH OUT OF THE BAKERY. So fresh that even if you go to the CIMB website right now, they haven't even taken down the old promotion and put up the new promotion yet. How do I know about this? Secret, hehe. With … [Read more...]

Fixed Deposit Just Matured… Now What?

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6 months ago, I took part in the DBS fixed deposit promotion that offers 1.5% for a 6 month tenure. In a few days time, that fixed deposit will mature and I will have back a respectable heap of cash that will be sitting around waiting to do nothing. So what should I do with it? Almost exactly a year ago, I was saying that one of my goals was to open up another bank account for my excess … [Read more...]

Singapore Savings Bonds – Why They are Almost Exactly Like Your Friendly Fixed Deposit Accounts

More details about the Singapore Savings Bonds (SSB) was announced by the Monetary Authority of Singapore (MAS) last Monday. This is an entirely new initiative by the Government to ensure that citizens have another long term savings option with better than CPF returns. We think it is a great product that all eligible Singaporeans should subscribe to. At the same time, we also understand that in … [Read more...]

CIMB 18-Month Step-Up Fixed Deposit

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So, CIMB has relaunched their step-up fixed deposits again! Actually, last year I wanted to open up a CIMB StarSaver account and also consider a their 1-year or 5-year step-up fixed deposit, but they removed the promotion by the time I wanted to get to it! Anyway, they are back with a step-up, but obviously the difference now is the time frame. Previously, their 1-year step-up deposit had an … [Read more...]

An interest rate of 10.68% per annum for a fixed deposit!

A Singaporean Stockmarket Investor (ASSI) - POSB

In January, I shared in my blog about POSB's Chinese New Year fixed deposit special. The offer was: Get 1.88% per annum for a 12 months fixed deposit from a minimum sum of $1,000 to a maximum sum of $1,000,000. I tried taking part in it and because I am such a dinosaur with IT stuff, I wasn't sure if my application went through. In fact, when a reader asked me about this during the … [Read more...]

Should I put money in a foreign currency fixed deposit?

Long, long time ago, I was attracted to the high interest rates of a foreign currency fixed deposit. Upon maturity, the interest received was not even able to cover the exchange rate loss. Ouch. 不好玩 No more such adventures for me. Once bitten, twice shy. Even now, why do banks give higher interest rates for foreign currency fixed deposits in A$ but a lower interest rate for US$? Why? … [Read more...]