Unattractive Lunar New Year bank promo

Till end Feb...
The only low-hanging fruit promo that I could find is the DBS $28 Hong Bao giveaway for opening a new deposit account or SAYE account online. T&C applies. So I have gotten myself a Multiplier Account.

POSB is offering 1.45% for 4 months if you open a higher interest account with fresh fund deposit. Last year was 8 months.

Standard Chartered is offering a miserly 1.15% for 11 months FD tenor with minimum deposit of 25k. (If I didn't recall wrongly, new year period was 1.25%.) https://www.sc.com/sg/save/term-deposit-sgd-dollar.html

CIMB is offering 1.25% for a 12 months FD tenor with minimum deposit of 20k. https://www.cimbbank.com.sg/en/personal/news-and-promotions/promotions/accounts/cimb-sgd-fixed-deposit-promotion.html

Maybank's FD rates have also dropped markedly versus last year.

Where would be a safe haven for parking spare cash at a better yield this year? Bonds?

19/4 - Yay, gotten the $28 hongbao from DBS! :D


  1. Rainbow girl,

    There's money market funds but they usually have a lower yield than fixed deposit since you can withdraw your funds anytime without penalty.

    Yes, Singapore Savings Bond would have a better yield than fixed deposits today.

    Then there's CPF but I shall not say more since I'm not a big fan of voluntary CPF contributions. LOL!

    1. Hi SMOL,

      Yup Singapore Savings bond better than FD, although the rate is also lousier than when they first launched.

      CPF... Thanks but no thanks. >.<


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