Fixed Deposit Promotion
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i think by the time my time 12 years down the road, ah gong will close this loop
that said i don't have much OA also as all used up for housing. -
Hopefully FD rates will hit 5% - 6% p.a soon!
https://www.straitstimes.com/business/banking/uob-raises-maximum-interest-rate-on-its-one-savings-account-to-78-joining-peers-in-deposits-race -
mummyof3angels\" post_id=\"2091056\" time=\"1669856628\" user_id=\"194437:
It will hit those who still have large outstanding loans hard, e.g. people with larger home loans to pay.
Hopefully FD rates will hit 5% - 6% p.a soon!
https://www.straitstimes.com/business/banking/uob-raises-maximum-interest-rate-on-its-one-savings-account-to-78-joining-peers-in-deposits-race -
UOB raises maximum interest rate on its One savings account to 7.8%
https://www.straitstimes.com/business/banking/uob-raises-maximum-interest-rate-on-its-one-savings-account-to-78-joining-peers-in-deposits-race -
slmkhoo\" post_id=\"2091057\" time=\"1669857273\" user_id=\"28674:
That is true, but on the flip side, they also benefited from the past 15 years of artificially low interest rates.
It will hit those who still have large outstanding loans hard, e.g. people with larger home loans to pay. -
Why the banks need so much $$ by offering such high interest rates?
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starlight1968sg\" post_id=\"2091073\" time=\"1669864784\" user_id=\"14025:
If our banks don't offer such high interest following the Federal Fund Rate of US, all the international capital or funds will leave Singapore and our financial market will collapse.
Why the banks need so much $$ by offering such high interest rates? -
mummyof3angels\" post_id=\"2091062\" time=\"1669861060\" user_id=\"194437:
Not so simple, the high interest rates will also affect commercial loans which increase the business costs in Singapore. Moreover, since everyone is saving due to the high interest rate, private consumption expenditure will drop and all these factors may result in the slow down of economy growth in Singapore next year.
That is true, but on the flip side, they also benefited from the past 15 years of artificially low interest rates. -
Estéema\" post_id=\"2091060\" time=\"1669859356\" user_id=\"66413:
What is the catch? Anyone has a One account, please share your experience… Sounds a little unbelievable.. (spend $500 a month and deposits of $75k gets 7.8% interest?)
UOB raises maximum interest rate on its One savings account to 7.8%
https://www.straitstimes.com/business/banking/uob-raises-maximum-interest-rate-on-its-one-savings-account-to-78-joining-peers-in-deposits-race -
The effective interest rate is around 5% (above 75k to 100k that will earn the more int)… card usage entitled us $200 rebate pa…so total we get back if I remember correctly around 5.2k all in all for 100k in uob savings.
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