MAS to increase insurance coverage on bank deposits to S$100,000 per customer from April 2024

[Chase]

MAS to increase insurance coverage on bank deposits to S$100,000 per customer from April 2024

https://www.channelnewsasia.com/sin...it-insurance-scheme-100000-april-2024-3790666

SINGAPORE: Insurance coverage on bank deposits will be raised from SS$75,000 (US$54,900) to S$100,000 per customer from Apr 1, 2024, the Monetary Authority of Singapore said on Friday (Sep 22). Foreign currencies excluded.

 

[laksaboy]

If you factor in inflation, not much has changed.

 

[millim6868]

Lol,sinies are dumb,papigs using carrot to woo ppl to deposit,pay peanuts interest but when depositors hv more ,will lost more,lol,also 100k is for show if actual situation won't even get full or get less then that,lol

 

[Leongsam]

MAS to increase insurance coverage on bank deposits to S$100,000 per customer from April 2024

https://www.channelnewsasia.com/sin...it-insurance-scheme-100000-april-2024-3790666

SINGAPORE: Insurance coverage on bank deposits will be raised from SS$75,000 (US$54,900) to S$100,000 per customer from Apr 1, 2024, the Monetary Authority of Singapore said on Friday (Sep 22). Foreign currencies excluded.

That does not even begin to cover my wealth!

 

[Chase]

That does not even begin to cover my wealth!

$100K per bank per customer.

It's for boss to deposit your spare cash in the riskiest banks in Singapore for the highest yields.

 

[millim6868]

Actually from personal view ,Trump is right all along

 

[blackmondy]

Sounds like a bank-run is on the horizon.....

 

[Sustanon]

moral hazard.......

 

[sbfuncle]

High net worth individuals will have a problem. Even they split their deposits to 100k per bank, there aren't enough banks to distribute their wealth.

 

[mojito]

Who has that much in cash? Raising deposit insurance just for the uhnws that is where the PAP's priorities are.

 

[Likemeat]

Only by 25k from a rich country?