Shares & Derivatives
The Best Fixed Deposits of April 2020
By My Sweet Retirement  •  April 3, 2020
It is extremely challenging to find good fixed deposit promotions this month as I can see banks either reducing the duration of the fixed deposit or keep on adjusting their interest rate. The 1 year interest rate for May 2020 Singapore Savings Bonds has fallen as low as 0.96%, thus any of the fixed deposits promotion below beats the Singapore Savings Bonds. Should the market crashes again, I believe banks will revise their interest rates again which happened last month. I was extremely surprised that MayBank kept their interest rate for their fixed deposit at 1.45% per annum while I saw other banks slashing their interest rates to around 1.00% per annum. If you have extra cash to lock in for 3 years, I will seriously request you to consider the NTUC Capital Plus single premium endowment plan which offers a guaranteed return of 2.13% p.a for 3 years....
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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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