Fixed Deposit Promotion

[starlight1968sg]

comfy:

May I know what is the interest rate for the HLF and RHB promotion?

For RHB, see the earlier post
For HLF, see http://www.hlf.com.sg

[FantasyLandDreams]

ICBC FD rates below. 1.41% if you place FD via internet banking.



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[Jennifer]

Anyone knows how to qualify as SCB Priority Banking Client?



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[starlight1968sg]

Jennifer

I think having min 200k with SCB even in the form of mortgage loan counts.

[starlight1968sg]

I may be wrong, I think in Mar, it was 1.45% for 10mth (???)

Now is 1.45% for 12mth.
I don’t know which is a better offer.

[JJ1111]

Maybank 1.65%

[Jennifer]

JJ1111:

Maybank 1.65%

http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx
Need to tie down the funds in the current or savings account as well.

[starlight1968sg]

Jennifer:

JJ1111:

Maybank 1.65%

http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx
Need to tie down the funds in the current or savings account as well.

Bundled FD which I dislike

[comfy]

Jennifer:

Anyone knows how to qualify as SCB Priority Banking Client?

Priority Banking
Eligibility Criteria
To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it, you need to: 1. maintain a minimum of S$200,000 in deposits and/or investments; or 2. maintain a minimum of S$1.5 million in housing loans with us

[comfy]

starlight1968sg:

Jennifer:

[quote=\"JJ1111\"]Maybank 1.65%

http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx
Need to tie down the funds in the current or savings account as well.

Bundled FD which I dislike[/quote]I also don't really like bundled FD, so I decide to calculate what is the annual interest rate of this particular bundled FD.
Let say for minimum amount allows is $5000 + $50000 (FD).
Let say the CASA account interest rate is the same as saving account base rate ie 0.3% for $5000, promotion rate is 1.65% for FD of $50000

Interest for 1 yr = $15 + $825 = $840
So interest pa = $840/55000 = 1.527% (est)
So if compare with SCB 1.45% pa, this seems better?
Just take note that the $5000 willl be held by the bank for the same period as the FD.
Just need to confirm with the bank the interest rate of the CASA account where the $5000 is deposited and what I have shared is correct.
For worst case, no interest rate for CASA account then interest pa for $55000 will be 1.5%