Fixed Deposit Promotion

[starlight1968sg]

sleepy:

Not sure if will impact car price. Perhaps slightly only

I suppose car price more influenced by coe price than rising interest rate

OT: yes, the price of a car is largely influenced by the COE price.

[TheAnswer]

starlight1968sg:

Just be a bit extra careful when buying structured deposits.

Why? I thought it is safe?

[zbear]

Any idea why interest rates are going up?

[MyPillow]

zbear:

Any idea why interest rates are going up?

Int rate has been low for too many yrs. no good to the banks
Fed rate will need to go up when economy is
Showing progress . Good for cash savings , no good
For loan servicing

struct dep is pretty safe, but must be willing to
Commit for 6 yrs at a not really delicious int rate.

[lego]

TheAnswer:

starlight1968sg:

Just be a bit extra careful when buying structured deposits.

Why? I thought it is safe?

Hi, Structured deposits are different from normal fixed deposits.
It carries with it investment element and there is an underlying asset to which it is tied to.
You may or may not get the projected higher returns, depending on how the underlying asset fare.
Think there are different grades of structured deposits depending on how much risk you want to take, whether capital guaranteed etc. If you do not hold it to maturity (which is longer than normal fixed deposits tenure), you may not be able to get the full principal sum that you have invested. Some offer a certain minimum guaranteed interest rate for the 1st year or sth like that, but the rest of the potential returns still depends on the performance of the underlying asset.
Structured deposits are also not covered by the deposits insurance scheme. (unlike normal fixed deposits, savings acc, current acc which are covered up to cap of $50k per bank.)

I am not saying structured deposits is not good (risk and returns are related, higher risk ~higher returns), just note the differences.

[Coolkidsrock2]

http://www.bbc.com/news/business-33488250

[black the doggie]

They're many banks offering fixed deposit but with different kind of interest rates and returns. I found this article(http://www.imoney.sg/articles/cimb-vs-d ... interests/) quite useful for me to compare the time deposits offered by CIMB and DBS.

[FantasyLandDreams]

FD has hit 1.6% / 1.7% this month for 50K for a year:

http://singapore-fixed-deposits.com/

Approaching 2% soon perhaps....

[MyPillow]

FantasyLandDreams:

FD has hit 1.6% / 1.7% this month for 50K for a year:

http://singapore-fixed-deposits.com/

Approaching 2% soon perhaps....

savings interest rate 加油

Fantasylanddreams, thks for sharing.
Anyone try Sing invest & Finance before?

[FantasyLandDreams]

MyPillow:

FantasyLandDreams:

FD has hit 1.6% / 1.7% this month for 50K for a year:

http://singapore-fixed-deposits.com/

Approaching 2% soon perhaps....

savings interest rate 加油

Fantasylanddreams, thks for sharing.
Anyone try Sing invest & Finance before?

Yes I did, been with them last 2 years.
March is their \"anniversary sale\" (so got promotion) so as to speak.