Just realised that local banks fixed deposit rates are really crazily low. Effective interest rates after all those interest on interest, free vouchers and loyalty bonus gimmicks never breach 1% PA.
But wait, check this out..
Not some Ponzi scheme but fresh rates given by ICIC bank. BUT, they only have one pathetic branch at Raffles Quay. Still not a bad deal for most people!
Their Aussie rates, my favourite currency is as follows: 
No link to their websites as this is not an advert.
5 comments:
Hi sbc,
Wow, thanks for the information. They really offered great returns for the fixed D. As far as I know, the others are offering less than 1% for any amounts for any period of time stated in their website. Except one - maybank. Maybank offers 1.15% for 3 yrs fixed deposit.
Hi,
Sorry, I just realised that the returns even beats that of the recently issued SIA bonds. That one gives 2.15%, min 10k, maturity period 5 yrs.
Very good deal indeed.
YUP! And there is no transaction costs!
I just opened an account with a local bank.
It is a checking account (no need to lock your cash in fixed deposit).
Interest is 0.75% till end of Dec. Next year is 0.3 to 0.5% depending on your sum. You need to put minimum S$200k initially but no charge if it falls below that later.
I find it convenient to park my money in between investments.
http://propertysoul.com
Hi SBC,
Wow...it sound fabulous...its even better the RHB, whom i think was the best so far. But wat's the chances of ICIC closing down and absconded with the funds? Does the MAS keep tabs or prevent them from doing so?
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