SG Talk

Minimum 1 million deposit still got so many people queueing 

Cannot open it online?

(05-11-2022, 11:49 AM)OutBreak Wrote: [ -> ]Cannot open it online?

Fund transfer online has daily limit of 5k

(05-11-2022, 11:49 AM)lvlrsSTI Wrote: [ -> ]Minimum 1 million deposit still got so many people queueing 

I am sure half of them did not read the fine lines, lah

(05-11-2022, 11:49 AM)OutBreak Wrote: [ -> ]Cannot open it online?

Can, my wife took about 3 wks to get the whole completion of online fixed deposit placement.
Business too good. 
Indeed it is a ppl bank.

Where the money come from? If they have so much money , they should be in FD already.

Quote:could be many q to redo their fd to higher rates over n over again.

(05-11-2022, 11:52 AM)Ola Wrote: [ -> ]I am sure half of them did not read the fine lines, lah

99% dun qualify

Don't understand why but CIMB RHB FD so much better and lower minimum placement. I guess support locals is strong but is it non local banks will take your FD monies run road? To have bank licence in Spore for foreign banks very strict don't think so easy for them take locals monies run road?

Now I prefer SSB and t-bill but if need to opt for FD won't choose local banks as their rate are not so good and high minimum placement

(05-11-2022, 11:50 AM)lvlrsSTI Wrote: [ -> ]Fund transfer online has daily limit of 5k

this is bullshit.

can be changed easily. 

1,000,000 also not a problem.

(05-11-2022, 01:16 PM)sgh Wrote: [ -> ]Don't understand why but CIMB RHB FD so much better and lower minimum placement. I guess support locals is strong but is it non local banks will take your FD monies run road? To have bank licence in Spore for foreign banks very strict don't think so easy for them take locals monies run road?

Now I prefer SSB and t-bill but if need to opt for FD won't choose local banks as their rate are not so good and high minimum placement

Till now, you are stil so naive to trust such banks especially m’sian banks.

(05-11-2022, 01:16 PM)sgh Wrote: [ -> ]Don't understand why but CIMB RHB FD so much better and lower minimum placement. I guess support locals is strong but is it non local banks will take your FD monies run road? To have bank licence in Spore for foreign banks very strict don't think so easy for them take locals monies run road?

Now I prefer SSB and t-bill but if need to opt for FD won't choose local banks as their rate are not so good and high minimum placement

BOC now 12 mth give 3.4%. Ask me to renew.
You see their service so good.

(05-11-2022, 01:20 PM)Gemstar Wrote: [ -> ]Till now, you are stil so naive to trust such banks especially m’sian banks.

Well when my FD mature they pay up every cent never run road why 跟钱过不去? Got more interest you don't take you take lower? I guess in real life when you switch job you ask for lower salary compared to previous? Maybe got some that do but it defy my common sense logic

You see how many bank Apps I have…

(05-11-2022, 01:32 PM)RiseofAsia Wrote: [ -> ]BOC now 12 mth give 3.4%. Ask me to renew.
You see their service so good.

Think you need source for best deals near FD mature and for me I think CIMB best for lower minimum placement currently

(05-11-2022, 01:38 PM)RiseofAsia Wrote: [ -> ]You see how many bank Apps I have…

Except for HSBC and Citibank all I have. I included RHB and Sing Investment recently

(05-11-2022, 01:38 PM)sgh Wrote: [ -> ]Well when my FD mature they pay up every cent never run road why 跟钱过不去? Got more interest you don't take you take lower? I guess in real life when you switch job you ask for lower salary compared to previous? Maybe got some that do but it defy my common sense logic

Sometimes, greed is the cause of losing lots of money, just to gain a little bit more. Maybe, you shd just park max of 75k that is protected by SDIC.

(05-11-2022, 01:40 PM)sgh Wrote: [ -> ]Think you need source for best deals near FD mature and for me I think CIMB best for lower minimum placement currently

Do homework first before deciding which one to place.
For me, fixed deposit will choose and place at shorter period with reasonable rate as rate hike will be keep going up vigorously till next year Mar 23.

(05-11-2022, 01:44 PM)Gemstar Wrote: [ -> ]Sometimes, greed is the cause of losing lots of money, just to gain a little bit more. Maybe, you shd just park max of 75k that is protected by SDIC.

Your concern is foreign bank close shop run road which is common fear in a lot of ppl mind. For me I no fear becuz I spread out my monies so even after spreading still over 75k I am prepared. RHB bonus 3% I just verified got pay out although very late. This is not FD but to tag to the issue of the general public fear foreign bank run road never pay interest

I think Spore govt levy very stringent conditions for foreign bank to obtain bank licence in Spore so this I get more confidence

(05-11-2022, 11:46 AM)lvlrsSTI Wrote: [ -> ]https://www.uob.com.sg/online-branch/che...evels.page

They forgot if bank fails, they get back 75000 dollars

(05-11-2022, 01:38 PM)RiseofAsia Wrote: [ -> ]You see how many bank Apps I have…

Very hard to spread to $75000 a bank

(05-11-2022, 02:05 PM)dynamite Wrote: [ -> ]They forgot if bank fails, they get back 75000 dollars

So far in Spore do you know of any foreign bank in Spore take monies from locals never return run road?

My take is FD usually foreign bank offer better rates based on my past experience. But local banks excel in below 2 points
1. Buy SSB t-bill SGS bond only through them
2. ATM theirs the most in Spore

Conclusion for me is all need open account always hunt for their lowest minimum to prevent pay fall below fee if any.

(05-11-2022, 02:09 PM)sgh Wrote: [ -> ]So far in Spore do you know of any foreign bank in Spore take monies from locals never return run road?

After Lehman bros case I know anything can happen first time. I also know what are the signs.

(05-11-2022, 02:09 PM)sgh Wrote: [ -> ]So far in Spore do you know of any foreign bank in Spore take monies from locals never return run road?

Hv you heard of Lehman Bros. collapse and Citibank almost goes bankrupt? You wil be panic if hv so much deposits, bonds or T-bills with these banks. That goes the same for those foreign banks in spore. Not to worry, you are protected with max of 75k.

(05-11-2022, 02:30 PM)Gemstar Wrote: [ -> ]Hv you heard of Lehman Bros. collapse and Citibank almost goes bankrupt? You wil be panic if hv so much deposits, bonds or T-bills with these banks. That goes the same for those foreign banks in spore.

Same $75000 rule apply to local bank