Quite attractive time deposit rates

[SgGoneWrong]

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)

 

[laksaboy]

LOL... 'attractive'.

 

[TracyTan866]

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)

that rate cant cover inflation

 

[SgGoneWrong]

that rate cant cover inflation

No fd rates can cover inflation.
This is by far a more attractive one compared to local banks.

 

[JabRusty]

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

 

[TracyTan866]

No fd rates can cover inflation.
This is by far a more attractive one compared to local banks.

can try foreign exchange deposits or buy blue chips.

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

 

[Ambulance]

halo lee tau kak pai leow jiu hu gu harng cmi lah

 

[SgGoneWrong]

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]

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!!!!!!!!!!!!!!!!

 

[hofmann]

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

Be careful not to get CLOBbered by the jiu hu kias

 

[laksaboy]

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.

 

[sochi2014]

24 months - 1.28% (min $25k), 1.55% (min $50k)

One percent also want? Don't waste your time lah!

Don't be lazy. Do some extra homework and buy stocks lah!

 

[johnny333]

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]

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.

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.

 

[JackyCheung]

i think Maybank always offer good FD rate.
be it long term or short term.

 

[chootchiew]

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)

mudland boleh by far the highest

 

[mojito]

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)

Uob is higher, check with them

 

[laksaboy]

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.

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]

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.

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

 

[eatshitndie]

cpf is better at twice the rate.