Local Savings Interest-Rates War Exploded on 1st Sept 2022 among banks - loan interest-rates expected to raise further

[Byebye Penis]

I think many kiasu sinkies either keep swapping banks whenever they see a higher interest and forgo the initial deposits and some keep putting the 1 mth term.

if don't want to switch in and out (because no lock-in)
UOB 10-mths 2.4%pa, 12-mths 2.6%pa
also not bad

 

[SBFNews]

if don't want to swab in and out (because no lock-in)
UOB 10-mths 2.4%pa, 12-mths 2.6%pa
also not bad

I listen to my boss @glockman to buy crypto.
I dump everything into crypto.
He says make or break.

 

[Byebye Penis]

I listen to my boss @glockman to buy crypto.
I dump everything into crypto.
He says make or break.

my child also begged me to buy dogecoin for him.
I explain to him dogecoin creator keeps churning up supplies every minute, what's the point.

Then i also fear that WORSE if he may get it right, and then don't study anymore.

 

[Byebye Penis]

Best performing currency in Asia (after HKD which is pegged against USD)
https://sg.news.yahoo.com/goldman-c...to-bet-big-on-singapore-dollar-063503271.html
The Singapore dollar has weakened 3.8% against the dollar in 2022, but has strengthened against all of its Asian peers with the exception of the Hong Kong dollar.

 

[Byebye Penis]

SSB increased to 2.6%pa for first 12 months.
no lock-in, just a month's notice on withdrawal
https://www.mas.gov.sg/bonds-and-bi...ond?issue_code=GX22100X&issue_date=2022-10-03

Last month's allocation max at $13000

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[Byebye Penis]

Altogether now!!! HUAT AH!!!

Ya, deposit-interests out-performing rental-income and REITs

 

[laksaboy]

My basic economics understanding:

Interest rate up = money supply down
Interest rate down = money supply up

 

[Byebye Penis]

Interesting Rates:

HL Finance going to have deposits promotion this weekend.

HL Bank (not HL Finance)
3-mth 2.2%pa
6-mth 2.45%pa
12-mth 2.75%

HSBC
7-mth 2.2%pa

UOB
10-mth 2.4%pa
12-mth 2.6%pa

Citibank
12-mth 2.6%pa

CIMB no lock-in (Depending on Quantum)
FastSaver/Starsaver 1.0% to 2.0%pa

RHB no lock-in (Depending on Quantum)
High Yield Savings/Premier Plus 1.2% to 2.5%pa

 

[Byebye Penis]

Singapore’s Highest Deposit Rates in 24 Years Spark Long Waits​

https://www.bloomberg.com/news/arti...ngapore-for-highest-deposit-rates-in-24-years

 

[Byebye Penis]

Hong Leong Finance
9-mths 2.38%pa

 

[winners]

Being a Priority Client in SCB, I am given 2.2% for their E$AVER account for the next 6 months.

 

[hollowman]

Being a Priority Client in SCB, I am given 2.2% for their E$AVER account for the next 6 months.

Is it still 300k to be their priority client ? I used to be 1 when I deposited 300k with them.

 

[winners]

Is it still 300k to be their priority client ? I used to be 1 when I deposited 300k with them.

I don't know. I just keep some amounts, sometimes over S$1k (to avoid monthly charges) and sometimes over S$600k and they just retained my Priority status eversince.

 

[hollowman]

I don't know. I just keep some amounts, sometimes over S$1k (to avoid monthly charges) and sometimes over S$600k and they just retained my Priority status eversince.

For 300k once I reduced to 50k priority immediately removed.

 

[winners]

For 300k once I reduced to 50k priority immediately removed.

Sometimes, I also don't know how they work. My RM has been changed several times already until now I also don't know who is my present RM. Anyway, I will also give up my Priority status if they will decide to impose charges in the future. I had already given up my SCB Malaysia Priority status when I transferred my RM500k funds to another Malaysian bank. Otherwise, they told me that there will be monthly charges.

 

[winners]

For 300k once I reduced to 50k priority immediately removed.

Probably also because you don't have a trading account with them. I used to trade over S$600k with their online platform. But nowadays I had switched to FSM ONE since their commissions are much cheaper and I am also a DIAMOND status in FSM ONE.

 

[Byebye Penis]

Short Term FD gapped up

RHB
3-mth 3.00%pa
6-mth 3.10%pa
12-mth 3.40%pa

 

[Byebye Penis]

6 to 9 months ago, UOB had first-mover advantage and offered FD rates better than malaysian banks in Singapore. Thereafter T-bills offered better rates than FD until their yields weakened below 4% again (3.88%pa last done) and SSB fell to <3%pa.

This CNY period, OCBC attracted waves of deposits from premier banking clients, up to 4.18%pa for 8-months Fixed Deposits, which is also better than Malaysian banks and fixed deposits.

 

[Byebye Penis]