Fixed Deposit Promotion
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GiftedGem:
Was doing USD/SGD all the while as most of our insurance is in USD, recently into AUD/SGD as advised by RM before the cut. Now USD is too high too.
Couldn't comprehend why OCBC is giving such good rate whereby RBA board has just lowered the 2.5% recently by 25 basis points to a new record low of 2.25%. My take is that OCBC likely to take short buffer on spread level against the spot rate. As it is, the longer the spread, there is no way for OCBC to offer such attractive rate.dagong99:
OCBC dual currency SGD/AUD
S$100K @ 6.8149% p.a. for 1 mth for Premier Customer = S$500++ after 1 mth placement.
Was actively with SGD/AUD 2-3yrs back with yield of 3-4% and with USD/SGD now. AUD is not a good time to go in now.
If you are in dual currency, I prefer connecting with HSBC Premier. My RM will get the FX in the call to discuss the market rate to go for whether to get converted or to hold on current currency. Of course, will still nego on the RM's spread. :evil:
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Are FD interest rates going up now?
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It has already gone up.
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Anyone into buying bonds here? Not very sure how it really works and can someone assist to explain?
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Looks like POSB Fixed Deposit @ 1.88% for 12 mths (min$1k to max$1mil) still the most attractive compared to other FD rates.
This is the first time I have a FD with POSB. Never in my life could I imagine POSB offering the highest FD rate when it’s always offering the lowest for it’s accounts. I suppose their deposit base has eroded over the years due to competition. -
lee_yl:
Oh, really ? That's a very good rate. My mum just renewed hers with OCBC at 1% and she told me that's the best rate she had been offered by various banks, including DBS.Looks like POSB Fixed Deposit @ 1.88% for 12 mths (min$1k to max$1mil) still the most attractive compared to other FD rates.
This is the first time I have a FD with POSB. Never in my life could I imagine POSB offering the highest FD rate when it's always offering the lowest for it's accounts. I suppose their deposit base has eroded over the years due to competition.
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Justina Low:
Anyone into buying bonds here? Not very sure how it really works and can someone assist to explain?
I do via ATM for some new bonds. -
dagong99:
I was at the bank \"洗血汗钱\" last evening. The bank staff told me that this 1.88% is NOT a fixed deposit. It is a promotion for CASA (current account and saving account). Their FD rate is currently lower than 1.88%. We need to apply online.
Oh, really ? That's a very good rate. My mum just renewed hers with OCBC at 1% and she told me that's the best rate she had been offered by various banks, including DBS.lee_yl:
Looks like POSB Fixed Deposit @ 1.88% for 12 mths (min$1k to max$1mil) still the most attractive compared to other FD rates.
This is the first time I have a FD with POSB. Never in my life could I imagine POSB offering the highest FD rate when it's always offering the lowest for it's accounts. I suppose their deposit base has eroded over the years due to competition. -
starlight1968sg:
Bonds are for longer tenure?Justina Low:
Anyone into buying bonds here? Not very sure how it really works and can someone assist to explain?
I do via ATM for some new bonds. -
bb_ mom:
Bonds are for longer tenure?[/quote]Some bonds are of 5 years but pay coupon twice a year.starlight1968sg:
[quote=\"Justina Low\"]Anyone into buying bonds here? Not very sure how it really works and can someone assist to explain?
I do via ATM for some new bonds.
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