Actually, from the responses above, seems like most of the activities or transactions could have been performed even without an SG bank account. Funds could have been sent directly from MY bank to the brokerage accounts, and kept as cash until traded. But I suppose the SG bank account is nice to have and handy for some cases. Also for those who wish to park money outside MY and hope for forex gain.

This post has been edited by Mattrock: Nov 4 2019, 05:23 PM

Yes doable with SG bank account. The downside is you are giving free money to banks. Something which I am totally against especially whenever there is a cheaper alternative available.

Imagine if you give banks free 2-3% each time, over 20-30 years the sum is a lot.

I think that Hansel and Ramjade posted several ways to park idle SGD money, in previous posts.

I am not sure whether it is still applicable as of now. So, please perform due diligence, before parking your idle SGD money.

Hansel's suggestion:
- Astrea IV4.35%B280614# Bond (SGX Stock Code: RMRB)
- Astrea V Retail PE Bond


Ramjade's suggestion:
- CIMB Fastsaver Savings Account, 1% for balance above SGD 1000. There's no penalty if money dips below SGD1000. No monthly service charge.
- Citibank maxigain (if you got the moo and able to open account) 2%+
- United Class A bond fund 2-3%
- Parkway 4%
- PIMCO GIS Income Fund Class E SGD Hedged Bond Fund, ISIN: IE00B9HH6X13, 5-7%


Many of us here are using CIMB Fastsaver Savings Account, due to the ease of getting 1% annual interest. It is definitely much better than 0.05 % of annual interest given by DBS, OCBC and other banks in Singapore.


Other method is to park in Singapore Savings Bonds, which is fully backed by the Singapore Government.
- The annual interest is slightly less than 2%.
- You could say that it behaves somewhat similar to the promotional Fixed Deposit offered by Singapore banks, but it only requires minimum investment amount of SGD 500, instead of SGD 10000 required for promotional Fixed Deposit.
- There is SGD 2 non-refundable transaction fee for each application.
- There is a redemption penalty of SGD 2, if you choose to redeem before its 10-year maturity.

Correct me, if I say anything incorrect. I am just sharing what I have learnt from many experts here.

This post has been edited by kart: Nov 5 2019, 04:51 AM

If you're young, open a SC Jumpstart account for easy 2%

can non-Singaporeans and non-SG residents buy this bond via CIMB?

When you invest into the UK and the HK mkts, are you investing for dividend or for capital gain ?

Yes, you can, bro,... but you will need an SG Bank acct to subscribe for the SSBs. Every mth, there will be a launch and the pattern of the interest rate seems to be trending down in the last few series.

You can withdraw prematurely, but you will only get your money at the beginning of every month.

Google 'Singapore Savings Bond'.

Yes, you are right. The thing is, if you do TT'ing into and out from the brokerage acct into your Msian bank acct, the charges are high. And you may experience exchange losses.

Without an SG bank acct, you can't access the cash with your hands. You are very much 'tied-back' the the Msian Ringgit, per se,...

But won't you still need to send the money from your SG bank to MY bank if you want to access with your hands, unless you go down to SG and withdraw? Maybe cost less than sending from Brokerage account, and also depends how frequent.

Btw, Maybank Isavvy has 2% time deposit for 24 months above 50k.

This post has been edited by Mattrock: Nov 5 2019, 11:52 AM

You can transmit your funds back with cheaper cost and with a better exchange rate if you use an SG bank, rather than via a brokerage.

If you have a CIMB SG acct., you will get good exchange rates and at the same time, be able to access your funds immediately when you do a 'transfer'. But to do this, you need to have both CIMB SG and CIMB Msia accounts.

You can withdraw Singapore Dollars to use via an ATM in SG if you have an SG bank acct...

In short, you can't access your SG funds in SG and for usage in any other parts of the world if you do not have an SG bank acct... but if you're saying that you don't wish to access SG Dollars, then your method is fine.

Why do I need to access it in Malaysia? I have sufficient cash to use for daily expenses in Malaysia (bills, petrol groceries etc).
Money I transferred to SG are basically money I am not using for a very long time and is a one way ticket for me.

Anyone have any idea about the posb invest saver ?? 100 dollar every month

We should be able to purchase these bonds from poems sg?

Dividened la. UK and HK got more juicy, quality dividend stocks than SG.


Yes. You need to have bank accoutn with either uob/ocbc/dbs + CDP account. POEMS cannot.

coolguy99

- Astrea IV4.35%B280614# Bond (SGX Stock Code: RMRB)
- Astrea V Retail PE Bond


You can purchase these bonds from Singapore Exchange (SGX), using a trading account (such as Maybank Kim Eng, or DBS Vickers trading account), in a similar process, as if you are buying any normal shares.

This post has been edited by kart: Nov 7 2019, 05:04 AM

Emm,... bros,.. I experienced that you can't buy the above PE Bond Funds via DBS Treasures and FSM. Just fyi,..... Yes, can buy over DBSV. Don't have acct in MKE,...

Thank you. I have trading account with Maybank Kim Eng but have yet to start trading. Looks like a good time to start.

Maybank KE lousy. No access to UK market. Planned to charge their customers more in the future.

Ramjade
I agree with your point.

Maybank Kim Eng should be good enough to be used to trade in SGX. For sure, we should not use Maybank Kim Eng to trade in stock exchange in other countries.

Yes, we have to accept the possibility in the future that Maybank Kim Eng may reintroduce the fee on dividends and rights issue. If that happens, we really need to move to other brokerages.

Not all of us can fork out USD 1000, as initial deposit for opening trading account for TradeStation Global. However, I cannot deny that having accounts in whitelabels of Interactive Brokers will enable us to trade almost anywhere, in a cost-effective manner.

This post has been edited by kart: Nov 8 2019, 07:37 AM

I have already started selling some of my holdings. When the time come I will have lesser stocks left to transfer.

Actually I find that hard to believe. USD2000 = RM8k. If you are saving say RM1000 a month still can open. Is not impossible.