meek-investor

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations: 1. Singapore's Deposit Insurance Scheme maximum coverage up to S$50,ooo only. 2. Long tenure term will potentially affect your cash-out value for your emergency fund, as you may suffer a penalty fee for early withdrawal. Back to the update: According to its website, Bank of China's Fixed Deposit promotion is still on.  The 12-month FD rates of 1.18% p.a. is still highest in Singapore currently.  The minimum deposit amount for BOC FD is S$50,000. This promotion is valid for customers with fresh funds only, meaning it is not applicable for money transferred from existing BOC accounts. There are few branches of BOC...

Bank of China will increase the Fixed Deposit promotion rates from 5th July.  The 12-month FD rates of 1.18% p.a. is highest in Singapore now.  The minimum deposit amount for BOC FD is S$50,000. This promotion is valid for customers with fresh funds only, meaning it is not applicable for money transferred from existing BOC accounts. There are few branches of BOC in Singapore: 1. Battery Road (BOC Building), 2. Chinatown branch (Furama Hotel), 3. Katong branch (188-192 East Coast Road), 4. Middle Road (BOC Plaza), 5. Maxwell Road (Maxwell House). According to BOC's website, this promotion is for a limited period only. Promotion Details:   SGD Time Deposits Promotional Interest Rates % p.a. 3-Month 6-Month 9-Month 12-Month S$50,000 and above 0.55% 0.85% 0.95% 1.18% Please let me know if there is better offer in the market.

Bank of China has launched a Fixed Deposit promotion from 19th June.  This new FD is now slightly better than ICICI/CIMB/Maybank's FD which offer 1.10%.  The minimum deposit amount for BOC FD is S$50,000. This promotion is valid for customers with fresh funds only, meaning it is not applicable for money transferred from existing BOC accounts. There are few branches of BOC in Singapore: 1. Battery Road (BOC Building), 2. Chinatown branch (Furama Hotel), 3. Katong branch (188-192 East Coast Road), 4. Middle Road (BOC Plaza), 5. Maxwell Road (Maxwell House). According to BOC's website, this promotion is for a limited period only. Promotion Details:   SGD Time Deposits Promotional Interest Rates % p.a. 3-Month 6-Month 9-Month 12-Month S$50,000 and above 0.55% 0.85% 0.95% 1.15%

RHB Bank's "Ground Shattering Interest Rate" Fixed Deposit promotion was over.   I have found out that ICICI Bank has a HiSAVE Fixed Deposit offering 1.10% p.a. for a 12 months tenure and have added ICICI Bank to my list of high interest FD. The highest interest rate in the market now is 1.10% p.a., offered by 3 banks. 1. ICICI Bank HiSAVE Fixed Deposit is an online fixed deposit account linked with the  HiSAVE online   Savings Account and all monetary inflow and outflow of funds happens online from and to such HiSave accounts.  Minimum placement sum for HiSAVE Fixed Deposit account is $1,000. HiSAVE online savings account starts from as little as $1.  No minimum balance requirements and no monthly fees. 2. CIMB Bank The promotional interest rate now is 1.10% p.a. for 12 months tenure.  Minimum placement sum $25,000. 3. Maybank The promotional interest rate now is 1.10% p.a. for 12 months tenure....

Last month I had a post on the highest Fixed Deposit interest rates on offer in the market.   ICICI Bank offered the highest 1.2% p.a for 12 months tenure for placement sum $50,001.  That promotion was over and ICICI's interest rate has dropped to 0.95% p.a. for the same tenure months and placement sum. The highest interest rate in the market now is 1.10% p.a., offered by 3 banks. 1. CIMB Bank The promotional interest rate now is 1.10% p.a. for 12 months tenure.  Minimum placement sum $25,000. 2. RHB Bank The bank has a FD promotion, which it called "Ground Shattering Interest Rate" - 1.10% p.a. for 12 months tenure.  Minimum placement sum $50,000. (I do not feel any ground shattering effect here......) 3. Maybank Maybank's FD promotion is still on.  However, the minimum placement sum has increased from $25,000 to $60,000. No. BANK PLACEMENT SUM $ TENURE months INTEREST % P.A. 1 CIMB Bank 25,000 12 1.10 2 RHB ...

Just learnt that ICICI Bank has launched a Fixed Deposit promotion this Saturday, Apr 13.  This new FD is now slightly better than Maybank's FD.  The minimum deposit amount for ICICI Bank FD is only S$1,000, and significantly lower than Maybank's S$25,000. ICICI Bank is India's second largest bank with global presence that currently spans across 19 countries including Singapore.  There are only 2 branches in Singapore, at Raffles Quay and Little India. The opening hours for ICICI Bank are slightly different from other banks.  It is more or less normal for Raffles Quay (John Hancock Tower) branch.   It is open Monday to Friday, 0930 hrs- 1530 hrs; closed on Saturday and Sunday.   Little India (184, Serangoon Road) branch operation hours are: Monday, Wednesday to Friday : 1430 hrs - 2000 hrs;  Saturday to Sunday : 1200 hrs - 2000 hrs.  Tuesday : Closed. There are multiple fixed terms to chose from and also multiple interest payo...

My emergency fund is in a fixed deposit.  The fund is for emergency purposes and I also intend to deploy 40-50% of it, if the stock market crushes again. My fixed deposit matured recently.  Every year just before my FD matures, the bank relationship manager also comes out from hibernation.  May not be the same person, but someone calls you on your mobile, introduces himself/herself as your (new) bank relationship manager.  Then he/she will introduce other options (most of the times some structured products) that will give better returns than FD. This year somebody introduced one high yield bond fund that he claimed is stable, high dividend yield, and has never gone down since inception.  However, after I asked him when was the inception date, it was end 2010.  How can this be a good track record for this bond fund as everything goes up since 2010? After some looking around, I found o...