Banks' FD rates surging up.... - Printable Version
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Banks' FD rates surging up.... - hansamu - 11-04-2022
Banks' FD rates are surging up, many offering around 1% or more for longer periods.
Hopefully, they fight fiercely with higher, irresistible rates to benefit all retail savers.
Local banks can never take the lead to up FD rates.
RE: Banks' FD rates surging up.... - lvlrsSTI - 11-04-2022
(11-04-2022, 01:36 PM)hansamu Wrote: Banks' FD rates are surging up, many offering around 1% or more for longer periods.
Hopefully, they fight fiercely with higher, irresistible rates to benefit all retail savers.
Local banks can never take the lead to up FD rates.
Not surprised as US Federal Reserve is going to increase interest rate 6 times this year to fight inflation, in the next rate hike in May instead of 0.25%, it will increase 0.5%….so the FD rate can go beyond 2% by year end.
RE: Banks' FD rates surging up.... - dynamite - 11-04-2022
At most 1% and more than a year. Then like you owe them money. In actual fact they will later use your money to buy shares when low and make 30-50% a year then give you 1%.
RE: Banks' FD rates surging up.... - lvlrsSTI - 11-04-2022
Having said that, as inflation rate is very high, 1-2% FD is useless as we lose more than the miserable interest the bank is going to give.
RE: Banks' FD rates surging up.... - lvlrsSTI - 11-04-2022
(11-04-2022, 01:43 PM)lvlrsSTI Wrote: Having said that, as inflation rate is very high, 1-2% FD is useless as we lose more than the miserable interest the bank is going to give.
You’re literally paying 15-20% for everything like food, drink, deserts, groceries, petrol and public transport fare than last year, and GST hike is not yet implemented.
RE: Banks' FD rates surging up.... - hansamu - 11-04-2022
(11-04-2022, 01:42 PM)dynamite Wrote: At most 1% and more than a year. Then like you owe them money. In actual fact they will later use your money to buy shares when low and make 30-50% a year then give you 1%.
Very true and well said.
But for the majority of people who do not indulge in stocks and shares,they have no choice but to accept what those blood sucking banks pay....can be near to zero for savings rates.
RE: Banks' FD rates surging up.... - RiseofAsia - 11-04-2022
(11-04-2022, 01:36 PM)hansamu Wrote: Banks' FD rates are surging up, many offering around 1% or more for longer periods.
Hopefully, they fight fiercely with higher, irresistible rates to benefit all retail savers.
Local banks can never take the lead to up FD rates.
Just wait for 6 more mths before transferring your $$$ back to bank fixed deposit.
Easily hit 3%~4% by end of the year.
US junk bond is on fire… 3% yield is going to break by this week. Bond investors have sidelines. Scary Sia!
RE: Banks' FD rates surging up.... - Talent - 11-04-2022
(11-04-2022, 02:25 PM)RiseofAsia Wrote: Just wait for 6 more mths before transferring your $$$ back to bank fixed deposit.
Easily hit 3%~4% by end of the year.
US junk bond is on fire… 3% yield is going to break by this week. Bond investors have sidelines. Scary Sia!
u sure