Which is the best FD currently ?

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Which is the best FD currently ?

Postby Emelyn » Tue Jan 03, 2012 9:37 am

Hi parents,

Any idea which bank is offering the best rate for Fixed Deposit ?

Looking for FD as one of many other options. Need to spread the eggs in different basket.

Regards

Emelyn
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Re: Which is the best FD currently ?

Postby caroline3sg » Tue Jan 03, 2012 12:00 pm

For 50K deposit:

HLF: 0.85%
CIMB: 0.8%
SF: 0.68%
MayBanK: 0.75% (ISavvy), 0.625%
StandChart: 0.35%

caroline3sg
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Re: Which is the best FD currently ?

Postby Emelyn » Tue Jan 03, 2012 1:40 pm

caroline3sg wrote:For 50K deposit:

HLF: 0.85%
CIMB: 0.8%
SF: 0.68%
MayBanK: 0.75% (ISavvy), 0.625%
StandChart: 0.35%


Caroline3sg, Thanks !!

Emelyn
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Re: Which is the best FD currently ?

Postby KSP » Tue Jan 03, 2012 2:07 pm

13-month 0.70% (%p.a.)
18-month 0.828% (%p.a.)
(with quarterly interest payout option)

This promotion is available with a minimum fresh funds deposit of S$20,000, from 3 January 2012 to 31 January 2012. Simply visit any UOB Group branch to sign up or call 1800 222 2121 (24-hour) for more details.

KSP
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Re: Which is the best FD currently ?

Postby ptb7476 » Wed Jan 04, 2012 9:19 am

iSAVvy Savings Account
Daily balance below S$5,000 0.1875% p.a.
Daily balance of S$5,000 to below S$50,000 0.30% p.a.
Daily balance of S$50,000 and above 0.38% p.a.
Interest-on-interest every 6 months* for average monthly balances of at least S$5,000 6.00%
Interest-on-interest every 6 months** for average monthly balances of at least S$100,000 18.00%

Effective from: 04 January 2012
* With the additional 6% interest-on-interest, the effective interest rates for the accounts with a balance of S$5,000 to below S$50,000, and accounts with a balance of S$50,000 and above are 0.31% p.a. and 0.39% p.a. respectively.
** With the additional 18% interest-on-interest, the effective interest rate for the accounts with a balance of S$100,000 and above is 0.42% p.a.

iSAVvy Time Deposit
https://sslsecure.maybank.com.sg/cgi-bi ... p#iSAVvytd

personally i think isavvy saving account has higher interest ...
isavvy time deposit is only good if you have at least $250K :lol:

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Re: Which is the best FD currently ?

Postby cchew » Wed Jan 04, 2012 9:32 am

iSAVvy Time Deposit Promotion
12mths : 1% p.a.
24mths : 1.35% p.a.

http://info.maybank2u.com.sg/personal/d ... otion.aspx

cchew
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Re: Which is the best FD currently ?

Postby chrisu » Thu Feb 02, 2012 8:48 am


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Re: Which is the best FD currently ?

Postby HVR » Thu Feb 02, 2012 9:08 am

Can anyone advise how does foreign FD works? Must I convert SGD to the foreign currency myself before deposit it with the bank or will the bank do the conversion? How safe is such deposit against currency rate fluctuation? For eg: If the deposit rate is 5% for AUD and by the time the FD mature, AUD has lost 2% against SGD but technically I will not suffer any losses since the interest rate is 5%? Any typical bank charges for such deposit? Thanks.

HVR
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Re: Which is the best FD currently ?

Postby verykiasu2010 » Thu Feb 02, 2012 11:08 am

those are for SGD deposits. better not to convert - better not to don't end up with currency exchange loss in exchange for higher deposit rates ....

higher foreign currency deposit interest rates means eventually there is currency loss ....
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Re: Which is the best FD currently ?

Postby Soul108 » Thu Feb 02, 2012 10:32 pm

HVR, small investors not worth it for Foreign Currency Fixed Deposits

1) your exchange rate is most of the time charged at board rate which is between 70 to 130 basis points on average EXTRA. Note that this goes both ways Buy and Sell

2) normally bank will charge penalty for pre-termination before maturity

3) risk of foreign exchange fluctuation

I'm not saying it's a bad instrument or alternative but that you need to be aware. Having said, typically buying AUD below 1.28 wouuld be pretty safe and keep long term sell above 1.32/33.. Pretty range bound. But in times of severe market distress, can fall very fast.

If for long term I rather buy shares eg SIA, decent dividend, low share charges lol.. And potential 30% upside.

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