25-12-2022, 10:13 AM
(25-12-2022, 04:03 AM)limpeh394 Wrote: how does ppl with cash more than $$ million manage their FD ?
or they dun care, just dump into 1-2 banks suah like my father in law did ?
even if say $500K, would need 7 banks to meet the 75K
$1 million would need 14 banks and the amount of account numbers/id/password to manage is siao, do u know anyone really goes to that extreme ?
If it is a joint account, insurance is 150k.
Then, you can have all staggered out so that you have 12-month FDs matured in different months to get advantage of rising interest rates.
If not, you have one FD half a year ago only 1.8% and now it is 4.5%.
.