Fixed Deposit Promotion
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Zeal mummy\" post_id=\"2086208\" time=\"1666198626\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2086208 time=1666198626 user_id=58173]
Yes this is real! The poster is from the NAS -- National Archives Singapore.
Is this real?[/quote]
https://www.nas.gov.sg/archivesonline/posters/record-details/734c5130-318c-11e4-859c-0050568939ad -
Zeal mummy\" post_id=\"2086207\" time=\"1666198558\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2086207 time=1666198558 user_id=58173]
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:
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]
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. -
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. -
Just buy T Bills or S’pore Savings Bonds if you need a balance of liquidity / flexibility and fairly high interest.
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I suspect the SSB allocation this time round would be 13k as well. Are T bills similar to bonds, have you bought some before?
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mummyof3angels\" post_id=\"2086248\" time=\"1666243808\" user_id=\"194437:
Oh I tot you would have gone for BOC at 3.3%. I hope it doesn’t go up further as it might trigger a recession.
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. -
mummyof3angels\" post_id=\"2086246\" time=\"1666242933\" user_id=\"194437:
I see; thank you for the link.
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 -
Do watch the youtube videos on T Bills - I can’t explain as well as the youtubers do. T Bills are principal protected only if you hold them to maturity (which is super short anyway, 6 mths or 12 months); SSB can be liquidated without any penalty, any time, and it takes at max a month to liquidate it.
Yes I hold both. -
This afternoon, opened a joint names FD account with DH in ICBC (Industrial and Commercial Bank of China) with 3.2 % interest for 12 months.
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Minutes of the latest FOMC meeting, likely more hikes still.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20220921a.htm
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