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Quite attractive time deposit rates

SgGoneWrong

Alfrescian (Inf)
Asset
Maybank:

12 months - 1.1% (min $25k), 1.35% (min $50k)
18 months - 1.18% (min $25k), 1.45% (min $50k)
24 months - 1.28% (min $25k), 1.55% (min $50k)
 

JabRusty

Alfrescian
Loyal
you are right. this is good.
if you want better rates then go put your money in jb
you will get more than 3%
 

SgGoneWrong

Alfrescian (Inf)
Asset
can try foreign exchange deposits or buy blue chips.

putting in fixed deposits is not a good choice as it is sure lose

Some old folks are not savvy, just want money safe. So maybank fd rates still better than the less than 1% offered by some banks.

Thanks for your suggestion.
 

bakkuttay

Alfrescian (Inf)
Asset
Maybank:

12 months - 1.1% (min $25k), 1.35% (min $50k)
18 months - 1.18% (min $25k), 1.45% (min $50k)
24 months - 1.28% (min $25k), 1.55% (min $50k)
in malaysia, promotion for 1 year fd is 4.05%, minimum fresh fund rm10.000.

i know negative "attacking" comments coming of unsafe and stupid move!!!!

hahhahahaha!!!!!!!!!!!!!!!!
 

laksaboy

Alfrescian (Inf)
Asset
in malaysia, promotion for 1 year fd is 4.05%, minimum fresh fund rm10.000.

i know negative "attacking" comments coming of unsafe and stupid move!!!!

hahhahahaha!!!!!!!!!!!!!!!!

Lee Hsien Loong deliberately kept interest rates low so Sinkieland becomes a money laundering hub and cronies can borrow plenty of money from banks for their 'projects'. There are no coincidences. :wink:


ctp.jpg
 

johnny333

Alfrescian (Inf)
Asset
Yes the PAP has been saboing Sporeans who have put money into the local banks as saving. That is one of the reasons I park my funds elsewhere.
 

Sinkie

Alfrescian (Inf)
Asset
Lee Hsien Loong deliberately kept interest rates low so Sinkieland becomes a money laundering hub and cronies can borrow plenty of money from banks for their 'projects'. There are no coincidences. :wink:

Wrong. Money laundering does not need low interest rate. Not related. Neither does borrowing money from banks for projects depend on fixed deposit rate because it is the prime lending rate that matters and it's hovering at 5.35% as of Oct. 2014.

The fixed deposit rate has been suppressed at around 1% for all these years by cunning intervention of MAS, since the CPF scheme started. This is to create the illusion that putting money in CPF is attractive because it pays 2% and above, while fixed deposit rate is only 1% and less.
 

laksaboy

Alfrescian (Inf)
Asset
The fixed deposit rate has been suppressed at around 1% for all these years by cunning intervention of MAS, since the CPF scheme started. This is to create the illusion that putting money in CPF is attractive because it pays 2% and above, while fixed deposit rate is only 1% and less.

Really? I believe the fixed deposit interest rate for one year was around 5-6% back in the mid 1990s. I know, because I had taken up a fixed deposit. The CPF system started way before that. :wink:

Also, of course deposit rates are lower than lending rates... banks are not charities. However, if deposit rates increase, the lending rates rise in tandem too. Low interest rates facilitate borrowing by businesses and consumers.
 

Sinkie

Alfrescian (Inf)
Asset
Really? I believe the fixed deposit interest rate for one year was around 5-6% back in the mid 1990s. I know, because I had taken up a fixed deposit. The CPF system started way before that. :wink:

Also, of course deposit rates are lower than lending rates... banks are not charities. However, if deposit rates increase, the lending rates rise in tandem too. Low interest rates facilitate borrowing by businesses and consumers.

It's not whether banks are charities or not. Of course banks are not charities, but it's MAS that set the interest rate and the relative strength of the Singapore dollar in foreign currency trading, usually taking USD as the dominant peg, for currency hedging and other foreign exchange considerations and also cost of living and doing business. There is no reason to suppress the fixed deposit interest rate, unless MAS has strict instructions to the banks, because the economy over the years has been growing, previously at 7 to 8% and recently, at 3 to 4% year on year.

The most obvious reason is to bring down CPF interest rate while giving the illusion it is attractive vis-a-vis fixed deposit interest rate, so less people will object to CPF slicing off a large percentage of their wages to a long-term fund and at the same time, CPF funded by the members are 'borrowed' by GIC and recently by TH to make a lot of money for themselves. The idea is to make CPF a very cheap source of funds for GIC and TH. That's all. It's too fucking obvious so it surprises me you did not see it.

CPF interest rate was never 2% all the years.....I'm surprised you didn't know this.
Here lah....http://mycpf.cpf.gov.sg/NR/rdonlyres/5C7AAE66-A2F1-4DCD-9898-D6D1F37A8FB0/0/InterestRate.pdf

OQF9tcZ.png
 
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