Best Fix Deposits for 2014

I rank my top 3 best fix deposits on tenure and rate per annum. Minimum and maximum amount are also taken into consideration. Fix deposit is useful during uncertain times as it guarantees at least some growth for your idle cash. It is usually used when one is unable to find better alternatives to invest in. 3) UOB promotional 8 month tenure 1.25% interest rate is my third choice. Minimum of … [Read more...]

How to Chalk up $500 for Frank Card

Chalking up $500 a month for your Frank card gives you the best benefits that I know so far. It gives you $43.75 from OCBC 360 and 6% rebate for your train, nets flaspay and online purchase fee. The trick to hit the target and not overspend, is to charge your monthly necessities like SP services and Teleco bills to your credit card instead of using GIRO. You can go down to a SP service … [Read more...]

Cash Rebate Credit Cards

One way to maximize my returns is to reduce monthly expenses. So for me, I look specifically at cash rebate when choosing my credit cards. Air miles or reward points maybe good(if the conversion ratios are attractive), but why exchange for vouchers when you can get back cash credit? Personally, cards with min spending doesn't entice me. My aim is to reduce spending and not to meet a higher … [Read more...]

Singapura Finance: 1 for 1 rights issue.

I have been a Singapura Finance shareholder for a few years. If you have not heard of Singapura Finance, well, it is not surprising as it is one of those sleepy stocks that don't really shout out for attention. Why did I become a shareholder a few years ago? 1. They have a good track record of rewarding shareholders with meaningful dividends. 2. The stock was trading at a big discount to … [Read more...]

A savvy saver in his thirties

I was having lunch with a friend last week and we were talking about how difficult it is now to find value stock when STI is near to all time high and US market has been breaking new high. Both of us agree that this is probably not the good time to be aggressive. He shared that recently he has become more conservative, and increasing his cash holding so that he will be able to tap on in the near … [Read more...]

Are You Ready To Open A Joint Account With Your Partner?

Opening a Joint Account with your partner is a huge step towards a more serious commitment into your relationship. Are you ready for that level of commitment? Don't get me wrong, there's a HUGE difference between being ready to commit and committing to be ready. Simply put, being ready to open a joint account as a commitment and opening a joint account to BE committed is very very … [Read more...]

Emergency funds: Have joint savings accounts.

Someone wrote to me and said, "Even with passive income, your representative will have to wrestle to get your affairs settled.  This takes both time, effort and even some muscle power.  My greatest fear is being poor and going to bed hungry. My next greatest fear is being half-dead.  Sigh.  .  . I worry a lot." I have a simple solution to this. What is it? Have joint savings accounts with … [Read more...]

360 review – Cash

I have shared with you in my previous post the importance of your career. Today I am going to cover another topic - Cash.  Cash is king! Cash is cash. What is there to talk about? Well, you must have heard of the cliche Cash is King!  When I first started out like you, my starting pay was only $1,850. As such, I am literally "cashless". All my salary is used to fund my daily life and starting … [Read more...]

Earning 3.5% saving returns more VERSUS Saving 100% more

Two person earning the same amount of money annually, one knows how to build wealth through paper assets like stocks and bonds, another only knows how to put more in insurance savings policies, who comes out on top? Here are the permutation: Both makes $2,500 gross monthly, with 2 months bonus ($35,000 annual at the start), income growing at 3% per annum Both takes home after a 20% … [Read more...]

Have you 360 recently?

It's interesting that banks are coming up with the 360 relationship concept. This concept was not really that new but has became more popular in recent months. If i am not mistaken, Standard Chartered first pioneered this concept to reward you on a overall relationship such that you received reward points if you have a housing loan, investment account, credit cards with them. OCBC and DBS then … [Read more...]

Getting paid more while waiting for opportunities.

I have blogged about the importance of having a war chest or a few (i.e. money in the bank, SRS, CPF-OA and CPF-SA). I also blogged about how I have a preference to put most of my money in the bank in fixed deposits for higher interest income. Of course with fixed deposits, there is a lock up period but if we should need the money, breaking a fixed deposit simply means forfeiting the higher … [Read more...]

Get $10 When You Sign Up for Dash Easy (Standard Chartered Bank)

Well, I’m always keen for “free” money – I know, it sounds weird. So, what is Dash Easy? Basically, it is a product made up of two separate components : A savings account offered by Standard Chartered Bank (Singapore) A mobile cash wallet account, mCash, offered by SingTel You get both a Dash Easy Savings Account and a Dash mCash Account in one easy sign up from your mobile phone, or … [Read more...]

Why fixed deposits over structured deposits?

Recently, I came across offers from two banks to place money in structured deposits offering higher returns than fixed deposits. The promised returns were approximately 1.45% to 1.85% per annum in return for the funds being locked up for 4 to 6 years. I was not attracted by these offers because: 1. Whether this money is a part of my emergency fund or my war chest, in the event that I need to … [Read more...]

Get free $60 cash with Dash – by Singtel and Standard Chartered bank

Who doesn't like free money when it's given out? I just signed up for a new Dash account and was instantly given $10 cash deposited inside my account. To get another $50, you just have to put in $8000 into the newly opened Dash easy savings account by 31 July and $50 will be credited to your account by 31 August 2014. Another thing is the savings account lets you earn higher interest rates up to … [Read more...]

OCBC 365 Credit Card

sgmoneymatters - OCBC 365 Credit Card

Credit card competition has already been fierce in Singapore. You hardly get your credit card annual fee “waived” every year in other parts of the world. Moreover, it is no longer easy for Krisflyer miles or other form of points to create some excitements among consumers. Singaporeans are spoiled with choices. OCBC’s survey found that “the cashback or rebate card commands 50% of the credit card … [Read more...]

The CPF is giving us a HIGHER savings rate

From 1 Mar 1986 to 30 June 1999, the formula to compute the calculated rate is 50% fixed deposit rate and 50% savings rate of the average of the big 4 local banks over the preceding relevant 6 months. From 1 July 1999 to present, the formula to compute the calculated rate is 80% fixed deposit rate and 20% savings rate of the average of the major local banks over the preceding relevant 3 … [Read more...]

Cory Diary : Damn to the Saver with Fixed Deposit

There are people who are believers of Saving and Fixed deposit. Here's the Math for them.Assuming I strike lottery $1M dollar on 1st Year. The next year I start to lose $29,100 due to loss of purchasing power. Many people cannot even save that amount of money to compensate for the yearly loss. Year Principal Fixed Deposit Inflation Effective Purchasing … [Read more...]

DBS Multiplier Programme – Savings Interest Rate Up to 2.08% p.a.

In the current low-interest rate environment, banks offering decent interest rates on your hard-earned savings deserves some special attention. After OCBC has re-launched the 360 Account offering up to 3.05% p.a. interest rate on your savings account, DBS has launched the DBS Multiplier Program which offers up to 2.08% p.a. depending on your monthly cash flow in the account (see table … [Read more...]

OCBC 360 Account Offers Incredible Interest Rates of over 3%

Recently, I posted about opening a DBS multiplier account that offered interest rates of over 2% depending on your cashflow with the bank. It now seems that OCBC has up the competition by offering a similar account that offers interest rates up to 3.05% . OCBC 360 account seems attractive as the bonus interest rates are also much more achievable. To get the bonus interest rates, I will just … [Read more...]

Top 3 Savings Account In Singapore

As the competition for deposits heats up among the banks, it seems the consumer is the one benefiting from it. Based solely on the criteria of advertised interest rates and not taking into consideration banking hours, availability of ATMs, service level, etc. Number 1: OCBC recently launched the 360 Account that pays up to 3.05% interest on up to $50,000 deposited provided the required criteria … [Read more...]