Fixed Deposit Promotion

[MyPillow]

MrsKiasu:

Seems the housing loan rate is good too. i called the bank and told to wait till end Jul to enquire on the rate again. I cant reprice now, still early.

so fast ? i thought u just re-finance not long ago .how long was your current lock in period?

[MrsKiasu]

MyPillow:

MrsKiasu:

Seems the housing loan rate is good too. i called the bank and told to wait till end Jul to enquire on the rate again. I cant reprice now, still early.

so fast ? i thought u just re-finance not long ago .how long was your current lock in period?

mp you made me worry too..for a while i thought maybe just 1,year only i got it done..confirmed done in Oct 15 locked in for 2 years @1.68%. last chk was 1.48% and seeing me so eager but need to wait, the girl joked say that maybe in Jul will be better rate leh

[starlight1968sg]

the interest rate for housing loan will be dropping following the interest rate for FDs?

[zakashi]

MrsKiasu:

MyPillow:

[quote=\"MrsKiasu\"]Seems the housing loan rate is good too. i called the bank and told to wait till end Jul to enquire on the rate again. I cant reprice now, still early.

so fast ? i thought u just re-finance not long ago .how long was your current lock in period?

mp you made me worry too..for a while i thought maybe just 1,year only i got it done..confirmed done in Oct 15 locked in for 2 years @1.68%. last chk was 1.48% and seeing me so eager but need to wait, the girl joked say that maybe in Jul will be better rate leh [/quote]Which bank 1.68% and 1.48%? 1.48% still on?

[MrsKiasu]

ocbc zakashi. of course there are few packages…

[TheAnswer]

1.48% was offered by DBS also. CNY promo.

[starlight1968sg]

http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx

Too complex for me to understand

[MerlionInGermany]

I think it means.


You deposit $5k into their regular bank account, you are allowed to place $50k in the FD which will earn the promotional rates.

Every $1k is tied to max $10k. This means, if you deposit $6k into their regular bank account, you are allowed to place up to $60k in the FD to earn the promotional rates. But you do not need to place $60k if you don’t want to, you can still place just $50k in the FD, they just want to make sure you cannot deposit only $5k and want to place $80k, $100k etc, into the FD for promotional rates.

[starlight1968sg]

Tks MerlionInGermany for explanation

What is the effective interest rate, noting the amount of money placed in regular savings account is earning very little interest rate?

[MerlionInGermany]

I think that would depend on how much you put in each account? $5k+$50k, or $6k+$55k. 18- or 24-month. It says the interest for the FD will be paid upfront into the regular account and I assume the interest in the regular account will be paid month end? And there is also interest from the FD interest? Too many variables.