Fixed Deposit Promotion
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lee_yl:
Btw, my DH told me last night that financial analysts have raised the spectre of 3 banks defaulting as a result of their exposure to commodities, oil and gas and China. The credit default swaps (basically insurance premiums against default) for the bonds issued by these 3 banks have also spiked in the last 2 days.
The 3 banks? State Bank of India, Deutsche Bank and Standard Chartered. Keeping my fingers crossed that nothing untoward will happen.
Oh dear, this sounds worrisome! What will be the worst case scenario? -
zbear:
For new and existing HSBC customers. Min $30Klee_yl:
There's one promo coming up tomorrow. HSBC 7month FD @ 1.65%pa or 1.7%pa (for premier customers). For $50K deposit, receives $30 TAKA vouchers.
Any promo for normal customers?
For $50K placement, one can receive $30 gift vouchers.
Check their promo dates at different branches before heading down.
http://www.hsbc.com.sg/1/2/tmd -
Ponsoby:
am short sighted
Not necessarily correct with this statement.starlight1968sg:
yes, I remembered and your move is absolutely smart in view of the current situation.
It is a norm that the longer the tenure, ir will be higher than shorter one.
The current situation will never be on status quo for the next 2 years. Personally, the right move is going for shorter tenure to test what is the then prevailing market condition and decide whether to lock in with FD or Equity etc.
earlier the int rate for 2 years was 2% or more.
Now the int rate for 2 years was <2%. -
zbear:
Worst case scenario, the deposit insurance gets activated and you will be able to recover your first $50K only.lee_yl:
Btw, my DH told me last night that financial analysts have raised the spectre of 3 banks defaulting as a result of their exposure to commodities, oil and gas and China. The credit default swaps (basically insurance premiums against default) for the bonds issued by these 3 banks have also spiked in the last 2 days.
The 3 banks? State Bank of India, Deutsche Bank and Standard Chartered. Keeping my fingers crossed that nothing untoward will happen.
Oh dear, this sounds worrisome! What will be the worst case scenario?
SCB shares in UK plunged from £10 to £3.85 within the last year. Hoping that Temasek Holdings with 19% of SCB will not let it fail :xedfingers: -
lee_yl
So far such news not reported here and I guess the bank is still intact
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lee_yl:
Worst case scenario, the deposit insurance gets activated and you will be able to recover your first $50K only.zbear:
[quote=\"lee_yl\"]
Btw, my DH told me last night that financial analysts have raised the spectre of 3 banks defaulting as a result of their exposure to commodities, oil and gas and China. The credit default swaps (basically insurance premiums against default) for the bonds issued by these 3 banks have also spiked in the last 2 days.
The 3 banks? State Bank of India, Deutsche Bank and Standard Chartered. Keeping my fingers crossed that nothing untoward will happen.
Oh dear, this sounds worrisome! What will be the worst case scenario?
SCB shares in UK plunged from £10 to £3.85 within the last year. Hoping that Temasek Holdings with 19% of SCB will not let it fail :xedfingers:[/quote]
Where is the source of information that yr DH get from? -
Ponsoby:
From Bloomberg.lee_yl:
Worst case scenario, the deposit insurance gets activated and you will be able to recover your first $50K only.
SCB shares in UK plunged from £10 to £3.85 within the last year. Hoping that Temasek Holdings with 19% of SCB will not let it fail :xedfingers:
Where is the source of information that yr DH get from?
http://www.bloomberg.com/news/articles/2016-02-10/standard-chartered-leads-credit-swap-surge-for-u-k-banks-chart -
starlight1968sg:
no worries, ride the wave - grab the promo chance ( hopefully still have)
I did during LiChun but for 6mth. Shld hv gone for 12mth or even 24mth had I know the rates would drop :frustrated:MyPillow:
Star u din placed the. Fixed dep b4 CNY ?
Since I m existing Scb old timer , I went back HL n may bank - already spreaded. Bought some cheap shares too
i feel 12 mths is ok , 24 mths ( if u really no need $ within 2yrs, had some extra cash )
then next yr this time, can collect interests from a few banks to reward ourselves ( assuming we spread the eggs
)
-
lee_yl:
From Bloomberg.Ponsoby:
[quote=\"lee_yl\"]
Worst case scenario, the deposit insurance gets activated and you will be able to recover your first $50K only.
SCB shares in UK plunged from £10 to £3.85 within the last year. Hoping that Temasek Holdings with 19% of SCB will not let it fail :xedfingers:
Where is the source of information that yr DH get from?
http://www.bloomberg.com/news/articles/2016-02-10/standard-chartered-leads-credit-swap-surge-for-u-k-banks-chart[/quote]Valuable information. Thanks Lee-yi. I forwarded this news to my DH. Really need to work out our funds in SCB and consider transferring some into another bank. -
zakashi:
[/quote]imo, Retail banking business here /in this region is still ok. unless one holds an international banking acct with UK,US Europe , then maybe \"cold sweating\". The most hit arms may be those who are solely in investment banking businesses onlylee_yl:
[quote=\"lee_yl\"]
Worst case scenario, the deposit insurance gets activated and you will be able to recover your first $50K only.
SCB shares in UK plunged from £10 to £3.85 within the last year. Hoping that Temasek Holdings with 19% of SCB will not let it fail :xedfingers:
Valuable information. Thanks Lee-yi. I forwarded this news to my DH. Really need to work out our funds in SCB and consider transferring some into another bank.
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