Fixed Deposit Promotion

[Juz Mum]

Currently, China banks eg. BOC , ICBC or Malaysia banks eg. RHB, Hong Leong Bank have greater risk?

Which is safer for FD for 12 months period?
Any opinions?

[Juz Mum]

ICBC FD rate 1.8% for 12 months

and
Hong Leong Bank 1.75% for 18 months
https://www.hlbank.com.sg/promotion/FixedDeposit

[pirate]

Juz Mum:

Currently, China banks eg. BOC , ICBC or Malaysia banks eg. RHB, Hong Leong Bank have greater risk?

Which is safer for FD for 12 months period?
Any opinions?

All the same up to S$50,000 because got deposit insurance scheme guaranteeing individual depositors up to S$50,000 per bank in Singapore.

[Juz Mum]

pirate:

Juz Mum:

Currently, China banks eg. BOC , ICBC or Malaysia banks eg. RHB, Hong Leong Bank have greater risk?

Which is safer for FD for 12 months period?
Any opinions?

All the same up to S$50,000 because got deposit insurance scheme guaranteeing individual depositors up to S$50,000 per bank in Singapore.

Any amount more than that, which would be safer ?
There're Malaysian banks affected by 1MDB etc..
Wonder what's their risk rating...

[kitty2]

Juz Mum:

ICBC FD rate 1.8% for 12 months

and
Hong Leong Bank 1.75% for 18 months
https://www.hlbank.com.sg/promotion/FixedDeposit

Where are the branches for ICBC?The promotion still on?Not sure is it safe

[Juz Mum]

Where are the branches for ICBC?The promotion still on?Not sure is it safe [/quote]



The branches:
https://www.google.com.sg/search?client=safari&channel=iphone_bm&source=hp&ei=cPBXW5CFI8HevgTe-5eAAQ&q=icbc+singapore+branch&oq=icbc&gs_l=mobile-gws-wiz-hp.1.1.41j0i131l4j0i10.1732.2889..3959...0.0...276.694.0j3j1....2..0....1.......3..0j46j46i131.x7suvIdkjp0#istate=lrl:xpd

[Juz Mum]

kitty2:

Not sure is it safe

I would love to know too!!

[lee_yl]

I just places a FD with Maybank. Rate was 1.75%pa. Downside is, to enjoy this promo rate, say for $100K in FD, one needs to put an additional $10K in a normal savings account (negligible interest).


Maybank is the largest bank in Malaysia and top 10 in ASEAN, I guess it should be quite safe.

I asked Maybank staff for 2 year FD promo rate as longer tenure FD has better interest rates. But the staff told me there was too much uncertainty so the bank couldn’t commit to a 2-year rate.

[starlight1968sg]

I dislike such arrangement of FDs and so I hv not been putting $$ with Maybank for some time.

[Juz Mum]

starlight1968sg:

I dislike such arrangement of FDs and so I hv not been putting $$ with Maybank for some time.

Me too. For me, FD should be straight forward. I've stopped with Maybank too.