Fixed Deposit Promotion

[TheAnswer]

starlight1968sg:

OT: so sad, when I moved my funds, nobody called me.

They practical wan.. once they see a certain sum out, they will call.. tried with DBS and UOB before.. it is as if system shows them immediately money out.. so they sit up n take notice lor.. not easy to track every single customer la..

Usually they care anot depends on the RM wan I believe..
Some RM bother.. others dun..

[pacetone]

Good that I’m reading this tread at the right time as one of my FDs is maturing next week.

[lalaland]

The SCB personnel also told me that the banks with the most competitive rates are SCB, MB and BOC.

The local banks can’t be bothered with FDs because they are the people’s default banks, so they are sitting on a pile of cash.

[lee_yl]

zbear:

Thanks lee_yl, so the catch is not the amount but rather the tenure? Meaning if you keep for 1 or 2 years, you can get a better rate?

Not knowing abt this 'bargaining', mine is 7 months at 1.65%. If I had known earlier, I would have tried my luck.

If you took up the current 7-mth promo should be 1.68% right? I just saw lalaland's sharing, she has got a good deal with just $25K @1.93% pa (and not a priority customer). I believe if you asked for more then, SCB should be able to accommodate.

Why 7mth? It will be August when the FD matures and very likely, a quiet month unless you are looking at Mid-autum festival promo (if any). Maybe if you have gone for 1yr promo, it would have matured just nice for next year's CNY's abalone promo.

[GiftedGem]

lalaland:

I went to the SCB and asked the personnel to give a better rate as Maybank downstairs is giving 1.9% for 12 mths. He said he cannot. Then I told him my friend is able to get 1.93% for 25k, 12 months. Then he said OK. So it turned out good.

I am not a priority customer.

Try another time, provided this personnel is not around and test it out with another SCB staff, says 2%, see if he / she bites with the same statement
Who knows, you may get it.

[lalaland]

GiftedGem:

Try another time, provided this personnel is not around and test it out with another SCB staff, says 2%, see if he / she bites with the same statement
Who knows, you may get it.

Hahaha.. next time!

[lalaland]

Anyone tried BOC?

This is what I've found. But it only states the 3 month and 6 month rates.
http://www.bankofchina.com/sg/bocinfo/b ... 90181.html

[lee_yl]

zbear:

MyPillow:

u existing cust of scb? called me few days ago too, i yet to decided.

lee_yl, are u a SCB Priority Customer? I can't help but notice that SCB only takes care of Priority Customers but not normal n new customers.

MyPillow and Zbear,

Yes, I am an existing SCB customer but I don't really care about what Priority/Treasure/Privilege banking customer. I will check around first and whichever bank can offer me the best rate, I will jump ship. I am not a loyal but a pragmatic customer.

I don't think they just take care of their Priority customers only, SCB treasure all their customers because all they want is your cash!

[pacetone]

lalaland:

Anyone tried BOC?

This is what I've found. But it only states the 3 month and 6 month rates.
http://www.bankofchina.com/sg/bocinfo/b ... 90181.html

Lousy rate this year. Was quoted 1.7% p.a. for 50K and above. In the past, always good rate with perk given.

[lee_yl]

pacetone:

lalaland:

Anyone tried BOC?

This is what I've found. But it only states the 3 month and 6 month rates.
http://www.bankofchina.com/sg/bocinfo/b ... 90181.html

Lousy rate this year. Was quoted 1.7% p.a. for 50K and above. In the past, always good rate with perk given.

We tried BOC last year, they had very good rates then. But this year, nothing caught my eye.

Another FD to consider is their RMB FD,
Interest rate higher but risk also higher. CIMB RMB offers 6+%pa for 6mths, but.......