Might as well put it in tin can or under your pillow

[lifeafter41]

With rates like this.



Next the banks will probably charge you to put money inside.
Where can apply for bank license to operate in singapore?

 

[uvwxyz]

They already charge, its whether they will increase the charges.

 

[eatshitndie]

it's better to put your savings in cpf. at least it earns 2.6%.

 

[chootchiew]

it's better to put your savings in cpf. at least it earns 2.6%.

Should consider A few of my uncle and aunties withdraw their life savings from bank to deposit in CPF account due to the interest. :p

 

[SgGoneWrong]

Should consider A few of my uncle and aunties withdraw their life savings from bank to deposit in CPF account due to the interest. :p

Good idea.
If i top up money into my dad's cpf (who's in his 70s and retired), can i earn 4% under retirement account or 2.6% under ordinary account?
Will money there automatically go into paying cpf life?

My dad now no money in his cpf.

 

[chootchiew]

Good idea.
If i top up money into my dad's cpf (who's in his 70s and retired), can i earn 4% under retirement account or 2.6% under ordinary account?
Will money there automatically go into paying cpf life?

My dad now no money in his cpf.

I ever enquire about this few years back as my dad was reaching retiring age that time, I got very confuse with different answers given to me. I later went down to cpf branch to confirm and was told that if I top-up cash to dad cpf ,he will have to select 1/3 option. 1 is to get back more cash monthly but if he dies nothing left, all chong kong by cheng hu. option 2 is take avg cash and leave avg cash if die. option 3 is take min cash and leave more cash if die. Dad and me struggle to pick the options end up never top up.

 

[potter]

I put money into my mama RA.
Auto withdrawal~$297 mthly to her bank acct. Better interest n not lock. :p

 

[SgGoneWrong]

Thanks potter and choochiew, thanks for the info.

Potter, does the scheme u are doing now have a name? Did u put lump sum in?

 

[laksaboy]

Lee Hsien Loong liberalised the banking sector (remember Tat Lee bank?), lowered the interest rates and turned Singapore into a money lending and laundering hub.

Nothing happens by accident. Oh, and who did you vote for?

 

[johnny333]

If you have a trading account with a US broker they will give interest on funds that are not being used for trading.
Same thing with a trading account in Maybank in JB. They have even given me an ATM card to allow me to withdraw my ringgit.

Why would I want to pay banks $ for keeping my money The interest rates are lousy & I keep most of my wealth invested in equities.

 

[Froggy]

Wrong thread

 

[laksaboy]

If you have a trading account with a US broker they will give interest on funds that are not being used for trading.
Same thing with a trading account in Maybank in JB. They have even given me an ATM card to allow me to withdraw my ringgit.

Why would I want to pay banks $ for keeping my money The interest rates are lousy & I keep most of my wealth invested in equities.

I think OCBC was one of the first banks who started this some years back. If your savings account has less than a certain amount ($500?) of money, every month they'll deduct a sum of money for admin cost.

Banks these days don't really care about your deposits... they care more about your debts owed to them. In essence, the banks are glorified loansharks.

 

[eErotica69]

With rates like this.

View attachment 16910

Next the banks will probably charge you to put money inside.
Where can apply for bank license to operate in singapore?

Then don't put in SGD deposit.

Try USD, EUR, MYR, AUD deposits.

 

[johnny333]

I think OCBC was one of the first banks who started this some years back. If your savings account has less than a certain amount ($500?) of money, every month they'll deduct a sum of money for admin cost.

Banks these days don't really care about your deposits... they care more about your debts owed to them. In essence, the banks are glorified loansharks.

At Citibank the minimum sum is currently $5,000. When I 1st opened my account 10+ years ago it was $15,000.
Even POSB has their $500 limit.

I used to have multiple bank accounts & VISA cards. I closed all except one bank account so I can keep an eye on it. Have heard of money disappearing if you are not actively using an account

Although I have multiple VISA cards, I only use one of these card. It is from a bank that provided a card without those yearly charges i.e. Maybank. Some people may remember that years ago annual fees were the norm & I prefer giving my business to a company which is pro customer

Sporeans should boycott GLCs like like POSB, DBS, SIA,... Why should they accept being treated lije 3rd class consumers

 

[lifeafter41]

If you have a trading account with a US broker they will give interest on funds that are not being used for trading.
Same thing with a trading account in Maybank in JB. They have even given me an ATM card to allow me to withdraw my ringgit.

Why would I want to pay banks $ for keeping my money The interest rates are lousy & I keep most of my wealth invested in equities.

The interest rates are lousy & I keep most of my wealth invested in equities

What about properties, especially those in the US since you are there?.

 

[Equalisation]

Yes.

Decades ago, I put my cash in my Ovaltine tin.:o

 

[frenchbriefs]

I think OCBC was one of the first banks who started this some years back. If your savings account has less than a certain amount ($500?) of money, every month they'll deduct a sum of money for admin cost.

Banks these days don't really care about your deposits... they care more about your debts owed to them. In essence, the banks are glorified loansharks.

if banks dont have deposits how they lend money to you and make u in debt?

 

[johnny333]

The interest rates are lousy & I keep most of my wealth invested in equities

What about properties, especially those in the US since you are there?.

I live in Spore where the air quality sucks. The PSI is now in the 70's. The only property I own in Spore is my home. Other than that I own US & Malaysia equities. Anyone can do what I am doing with an Etrade & Maybank trading account.

I don't invest in property because I think it is too much work.

 

[frenchbriefs]

I live in Spore where the air quality sucks. The PSI is now in the 70's. The only property I own in Spore is my home. Other than that I own US & Malaysia equities. Anyone can do what I am doing with an Etrade & Maybank trading account.

I don't invest in property because I think it is too much work.

yes singapore sucks period.......put all ur money into equities...huat big big and get the fuck out of this country asap.

 

[halsey02]

Yes.

Decades ago, I put my cash in my Ovaltine tin.:o

Encik!..nowadays where can you find ovelitine tin??? if you still have one, must be rested away...even their factory at Jalan Tukang, long gone!!