Fixed Deposit Promotion

[MrsKiasu]

Woah this kind of interest rate at current housing prices…maybe time to scoop properties.

[Zeal mummy]

mummyof3angels\" post_id=\"2077842\" time=\"1660098565\" user_id=\"194437:

FD rates at Maybank, Standchart and Bank of China are better than the local 3 banks. But not sure if my concerns about placing FD with foreign banks are justified.

Which bank did you go with in the end? Was it easy to open a new FD? I think BOC went up to 3.3/3.4%.

[Zeal mummy]

mummyof3angels\" post_id=\"2086126\" time=\"1666147439\" user_id=\"194437:

Hold a bit longer? Maybe we will soon see FD rates like back in the 80's era?

https://i.imgur.com/VKP2pqI.jpg\">

Is this real?

[lee_yl]

Wahaha, I asked DH the same question.


I hope it won’t be the case for the near future or else don’t know what will happen to my REITS.

If FD gives out 9.5%pa, then bank mortgage will likely be more than 10%pa? Guess private ppt will crash and all will go and buy HDB as interest is only 2.6%pa (or marginally higher).

[ChiefKiasu]

Zeal mummy\" post_id=\"2086208\" time=\"1666198626\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2086208 time=1666198626 user_id=58173]
Is this real?[/quote]

In the 80s, things were growing and companies were willing to pay more to borrow.
Interest rates is a function of demand, not supply

[Liew Nga Wing]

Is the present spike of interest rate due to things are growing and companies are willing to pay more to borrow?

[mummyof3angels]

Zeal mummy\" post_id=\"2086208\" time=\"1666198626\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2086208 time=1666198626 user_id=58173]
Is this real?[/quote]

Yes this is real! The poster is from the NAS -- National Archives Singapore.

https://www.nas.gov.sg/archivesonline/posters/record-details/734c5130-318c-11e4-859c-0050568939ad

[mummyof3angels]

Zeal mummy\" post_id=\"2086207\" time=\"1666198558\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2086207 time=1666198558 user_id=58173]
Which bank did you go with in the end? Was it easy to open a new FD? I think BOC went up to 3.3/3.4%.[/quote]

My hubby's DBS RM told us about this promo 2.6% p.a interest on minimum $100,000 fresh fund. But cannot withdraw for 6 months. And it has to be really fresh funds. Your total bank balance cannot be the same as before. :rotflmao:

We are quite kiasi so we went with this option for the time being. Not sure about the details but it is not really a FD in the traditional sense.

My hubby's gut feel is that FD interest rate might be around 5% by middle next year.

[lee_yl]

2.6%pa is not even enough to fight inflation.


I don’t know will FD hit 5%pa one day. Still thinking if I should put 12mths or 24mths FD just before CNY. Lock in 24mths because there is risk of recession coming? See how lah.

[doodbug]

Just buy T Bills or S’pore Savings Bonds if you need a balance of liquidity / flexibility and fairly high interest.