Fixed Deposit Promotion

[starlight1968sg]

Locking up for 2 yrs at an int rate of just over 2%pa is a bit hard to swallow

[MyPillow]

starlight1968sg:

Locking up for 2 yrs at an int rate of just over 2%pa is a bit hard to swallow

If u have major plan for these 2 yrs
Std chart 1 yr fixed dep is reasonably Gd rate , may bank too

Agree with Leeyl feel abt Int rate movement

The daily savings rate will still remain as mini peanuts , no movement

[lee_yl]

starlight1968sg:

Locking up for 2 yrs at an int rate of just over 2%pa is a bit hard to swallow

2years @ 2%pa is not attractive, it's like that lah, low risk low returns. It's almost risk free.

[zbear]

lee_yl:

lalaland:

I was told last month it was 1.8% for 12 mth. It is 1.85% in Jan 2016.

Will it be higher in Feb 2016?

My guess is since no major economic event in Feb, doubtful interest rate for FD will rise. Maybe after Fed meeting in March or June. However, after the recent turmoil in the financial/oil market, Fed may not raise the interest rate in March. If Fed does raise the interest rate in June, we will probably see the effect some time later.

In this case, it's better to take advantage of the CNY promo now?

[pacetone]

lee_yl:

pacetone:

[quote=\"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.......[/quote]Yes, previous year was much better and they even gave me some Taka vouchers. This year BOC is not competitive at all.

[zakashi]

Done. Given only 1.78% for current SCB customer. SCB turn down our negotiation for better interest rate. Told them will save some in SCB and will save some with another bank for better interest. Will not put all my eggs into one bag. I believe if the owner of SCB, they will definitely beg you to save with them with better interest rather than let go of their current customer for another bank. No gift. M

[starlight1968sg]

zakashi:

Done. Given only 1.78% for current SCB customer. SCB turn down our negotiation for better interest rate. Told them will save some in SCB and will save some with another bank for better interest. Will not put all my eggs into one bag. I believe if the owner of SCB, they will definitely beg you to save with them with better interest rather than let go of their current customer for another bank. No gift. M

May I ask if you also bought any financial pdt in order to get such rate for 12mth?

[lalaland]

zakashi:

Done. Given only 1.78% for current SCB customer. SCB turn down our negotiation for better interest rate. Told them will save some in SCB and will save some with another bank for better interest. Will not put all my eggs into one bag. I believe if the owner of SCB, they will definitely beg you to save with them with better interest rather than let go of their current customer for another bank. No gift. M

1.78% is for how many months?

[zakashi]

lalaland:

zakashi:

Done. Given only 1.78% for current SCB customer. SCB turn down our negotiation for better interest rate. Told them will save some in SCB and will save some with another bank for better interest. Will not put all my eggs into one bag. I believe if the owner of SCB, they will definitely beg you to save with them with better interest rather than let go of their current customer for another bank. No gift. M

1.78% is for how many months?

12 months.

[lalaland]

Anyone into Structured Deposits?

I was at MB today and the lady told me of a new product coming out on 1 Feb.
5 yr structured deposit. The last offering was 2.6%. Cash out interest every 6 mths.
This is last offering. The interest rate for the new series will be known 1st Feb.
http://info.maybank2u.com.sg/personal/i ... posit.aspx

BTW, I am not working for MB. I want to know how SDs compare with FDs.