Fixed Deposit Promotion

[alng]

zakashi:

alng:

[quote=\"zakashi\"]Disappointed if alng said SCB offered 2%. SCB offered only 1.78% of $100k for 1 year before CNY.

Think you could be a bit late. A friend of mine get 2% for $200K for a year. Another friend got 2.1% for $50K for 2 years. I also place for two years and I get more than 2% too. But all of us got our placements before 15 Jan.

Thanks alng but your statement may not be true. We also got our placement before the date you mentioned.[/quote]
Really? Wonder if it is due to the shorter tenure. So far, most of the cases I know from friends are for 2-year tenure and they all get more than 2% for amounts ranging from $50K to $200K. For a 1-year tenure, I only have this friend who placed $200K for 1 year for 2%.

[starlight1968sg]

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 did during LiChun but for 6mth. Shld hv gone for 12mth or even 24mth had I know the rates would drop :frustrated:

[Ponsoby]

starlight1968sg:

yes, I remembered and your move is absolutely smart in view of the current situation.

Not necessarily correct with this statement.
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.

[zbear]

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?

[lee_yl]

zbear:

lee_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 new and existing HSBC customers. Min $30K
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

[starlight1968sg]

Ponsoby:

starlight1968sg:

yes, I remembered and your move is absolutely smart in view of the current situation.

Not necessarily correct with this statement.
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.

am short sighted
earlier the int rate for 2 years was 2% or more.
Now the int rate for 2 years was <2%.

[lee_yl]

zbear:

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?

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:

[starlight1968sg]

lee_yl

So far such news not reported here and I guess the bank is still intact

[Ponsoby]

lee_yl:

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?

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:[/quote]

Where is the source of information that yr DH get from?

[lee_yl]

Ponsoby:

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?

From Bloomberg.
http://www.bloomberg.com/news/articles/2016-02-10/standard-chartered-leads-credit-swap-surge-for-u-k-banks-chart