Skip to main content

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
Labels:

Comments

  1. Singapore Man of Leisure21/02/2017, 13:43

    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!

    ReplyDelete
    Replies
    1. Rainbow26/02/2017, 22:12

      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. >.<

      Delete

Post a Comment

Popular posts from this blog

Reflections for year 2024

2024 has been a relatively peaceful year. So peaceful that I have read countless novels and other books, met my sports buddies almost every weekend and picked up horticulture. Physical and mental health As we say, health is wealth. I have stuck fairly consistently with my exercise regime and tried to include more fruits and vegetables in my meals (although I eat out more and cook less these days). My weight, BP and cholesterol levels are doing ok. For those 40 years and above, remember to get your  subsidized health screenings from the government . Working less and meeting up with friends more contributed to an improved mental health. I see that the government has stepped up on initiatives in the community but work place initiatives from employers still seemed lackluster, especially for those who can't WFH and need to commit 44 hours or more a week at frontline work. I have also started a Gratitude journey to celebrate all my little life milestones. Financials Investment wise ...
Post a Comment
Read more

The best credit card for my new house renovation

As updated in my previous post, I have finally bought my own place. For the past few months I have been busy coordinating with various contractors and vendors for my house renovation. As I am still on A flexi work schedule, I decided to be my own ID. With only a simple renovation plan in mind, I set my reno budget at $20,000 (aircon & fixtures inclusive). The renovation process and acting as my own ID were not as easy as I thought. It took me about a month to gather and compare quotations from different contractors and another few weeks to finalize all the things that I need my chosen contractor to do. I eventually settled for a main contractor who specializes in carpentry work but also provides painting, tiling and electrical services. I have grossly underestimated the amount of defects that need fixing for this resale flat. Fortunately, the floor tiles and some of the existing built-ins are still in good condition so I kept them, otherwise I would have burst my budget. The first ...
Post a Comment
Read more

Shit happens and I lost my low-hanging fruits

My POSB SAYE account just hit its 25th month —the much-anticipated “month of maturity.” I was all ready to enjoy the 3.5% bonus interest I’d patiently saved for… only to receive a measly $17+ cash gift instead of a few hundred dollars. I was about to send a message to query the bank what caused this interest drop versus what I have gotten on the 13th month. Confused, I double checked my account history and— gasp! —found a single $50 transfer I’d made to a joint account in one of the past months. I hadn’t even realized that I’d chosen the SAYE account as the fund transfer source. For those unfamiliar with the T&Cs of POSB SAYE: “To receive the additional 3.5% p.a. Cash Gift Interest, ensure that you do not make any withdrawal from your POSB SAYE account.”   “If a withdrawal is made in the month, this will result in the previously accumulated additional 3.5% p.a. interest to be forfeited.” Yes, one tiny transfer = months of bonus interest gone . Even depositing it back the...
Post a Comment
Read more