[[[ForeverAlone]]]

one of my relative just came back from bank told me literally interest so low compare to few months back.

[ysh02]

one of my relative just came back from bank told me literally interest so low compare to few months back.

Which bank har....DBS or UOB ?

[Clyde]

Went to BOC recently. Many people there opening FD account. This is one of the bank that give more than 3% interest. DBS gives 3.2% for deposit amount of up to $19,999.

[sgh]

Went to BOC recently. Many people there opening FD account. This is one of the bank that give more than 3% interest. DBS gives 3.2% for deposit amount of up to $19,999.

BOC and ICBC all can use mobile app to DIY place FD. BOC typically minimum is 5K. ICBC typically minimum is 500. Both can terminate FD early via app still get base interest.

[mikotan]

Banks here flushed with too much deposits.

[RiseofAsia]

I just placed RHB at 3.6%

[sgh]

I just placed RHB at 3.6%

Last week 12 month T-Bill is 3.7%

[RiseofAsia]

Last week 12 month T-Bill is 3.7%

Stashaway 3.8% for 1 mth, you want to place.

[Gemstar]

Went to BOC recently. Many people there opening FD account. This is one of the bank that give more than 3% interest. DBS gives 3.2% for deposit amount of up to $19,999.

BOC gave the best fixed deposit rates among other banks.

[Ola]

Sorry . . .sometimes i switch off when my mum is noisy

She said 3.25% from UOB

[RiseofAsia]

Maybank is 3.65%.
I like to deposit in May bank. Get interest first.

[RiseofAsia]

https://www.maybank2u.com.sg/en/promotio...posit.page

[RiseofAsia]

Sorry . . .sometimes i switch off when my mum is noisy

She said 3.25% from UOB

UOB,OCBC and DBS, don’t waste time.

Even US bonds give 5% rate now.

[Gemstar]

I just placed RHB at 3.6%

I wil never place money in this bank no matter how high their interest rate is.

[RiseofAsia]

I wil never place money in this bank no matter how high their interest rate is.

Why?

[Clyde]

BOC and ICBC all can use mobile app to DIY place FD. BOC typically minimum is 5K. ICBC typically minimum is 500. Both can terminate FD early via app still get base interest.

You need to have a saving account with them to transfer money into the FD account. Cannot transfer from another bank. Then, you have to maintain a minimum sum in the saving account.

[lvlrsSTI]

Went to BOC recently. Many people there opening FD account. This is one of the bank that give more than 3% interest. DBS gives 3.2% for deposit amount of up to $19,999.

Still high lah, last time bank was having promotion of 1.X percent, long queue outside.

[sgh]

You need to have a saving account with them to transfer money into the FD account. Cannot transfer from another bank. Then, you have to maintain a minimum sum in the saving account.

BOC cheapest account I found is minimum $200. ICBC no minimum for that multi-currency account.

[Gemstar]

Why?

RHB and CIMB are unreliable banks. I don’t trust them. I rather forgo the extra % from them and put it in safer banks like BOC and UOB. Each individuals hv their own views and is up to them to decide.

[ysh02]

Malaysian bank their currency drop alot....so scare they close shop ?

[victortan]

Better go buy US treasury. 5% and secure. Not only this the USD likely to get stronger in the next 12 mths to 15 mths.. till end of 2024. U gain too in exchange rate

[sogo]

RHB and CIMB are unreliable banks. I don’t trust them. I rather forgo the extra % from them and put it in safer banks like BOC and UOB. Each individuals hv their own views and is up to them to decide.

pap guarantee 75k now and will become 100k soon. so long u are within this amount pap will pay u. why u worry so much? u scared pap no money?

[hansamu]

pap guarantee 75k now and will become 100k soon. so long u are within this amount pap will pay u. why u worry so much? u scared pap no money?

Well said.
Banks in SG are generally safe. They are well controlled and regulated by MAS who wants to ensure SG is a highly reliable financial hub.

Since when have we seen a run in a bank in SG ??

Foreign banks borrow from deposit rich local banks for a premium in their daily operations. Instead of paying the premium to DBS etc, they rather give the extra rates to customers. That's why foreign banks pay higher  FD rates.

[RiseofAsia]

RHB and CIMB are unreliable banks. I don’t trust them. I rather forgo the extra % from them and put it in safer banks like BOC and UOB. Each individuals hv their own views and is up to them to decide.

There is not such thing called safe bank.
Let you see this.

https://www.sdic.org.sg/sm_list/di_scheme_members

[sogo]

RHB and CIMB are unreliable banks. I don’t trust them. I rather forgo the extra % from them and put it in safer banks like BOC and UOB. Each individuals hv their own views and is up to them to decide.

2006 I heard Lehman very high end bank. In the end also burst. Lol

[ysh02]

Buy shares when market come down easily can get more yield %age than bank......

[Lukongsimi]

Goondoo
Tbill still give  the highest rate