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Time deposits, Have you doing the same?

This is a discussion on Time deposits, Have you doing the same? within the Home Life, Relationships & Finance forum, part of the You and Your Family category; Time deposits, Have you doing the same in Singapore?...

  1. #1
    Worthy Lady
    Join Date
    Sep 2013
    60 Ayer Rajah Crescent Singapore, SG-139953 Singapore
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    Time deposits, Have you doing the same?

    Time deposits, Have you doing the same in Singapore?

  2. #2
    Worthy Lady
    Join Date
    Feb 2014
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    Re: Time deposits, Have you doing the same?

    I've also been trying to save up and have made a point to put money in deposit accounts, I signed up for a POSB time deposit plan and it offered me good returns apart from lucrative interest rates. Well, I’m satisfied with their services, so you can try them once.

  3. #3
    Female Attendant
    Join Date
    Mar 2014
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    Re: Time deposits, Have you doing the same?

    Singapore time deposits generally can get you around 1% interest per annum. The highest offer by banks is at around 1.2% by UOB Fixed Deposit or Bank of China Fixed Deposit. Deposits in fixed deposits are generally tied up for a fixed period of time (1yr, 18mths, 2 yrs, etc)

    Alternatively, if you are looking for a day to day savings or current account, you could try the OCBC 360 account which offers a promotional rate of up to 3.05% subject to fulfilling 3 conditions.The 3 conditions are crediting your salary to the account, paying 3 bills online and spending $400 a month across all the credit cards. The conditions are relatively easy to fulfill and should you fail to fulfill any of them in a month, you will get 1% less interest for that month.

    In a period of rising interest, I think it will be better to keep our money in account such as OCBC 360 account to capitalize on better opportunities in future.

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