I work in FMCG industry, Supply Chain/ operations work. 0 finance experience.

I bought some shares on SGX and did my research on the brokerages, therefore i can share my experience with you. Also I used to work in SG and majority of my money is in SG, which is why i know a bit about Singapore banking in general.

My personal opinion is that Bursa stocks are in general better than SGX. SGX probably only has 30-50 companies worth looking into. Too many penny shares from China. If i were living in Malaysia and want to diversify, I would buy US stocks instead.

Non-fd method.  Open a standard chartered esaver account and ocbc 360 account. Both give "high" interest but the caveat is fresh funds only. Keep transferring between both accounts 1st day of the month. Can yield 1% Haha...

Per year la.... per month i wont be in stock market d haha

I say its high because normal saving account in Singapore give .05% PA

The steps is quite simple, go to both banks and open both accounts. Once its done, every first day of the month you just transfer money from one account to another, so that it "thinks"its fresh funds and you gain the bonus interest. Do keep in mind the minimum account balance to avoid the fall below fee.

Do note confuse trading accounts and CDP. Most Singapore banks are hesitant allow foreigners to just open savings account (i dont know why, probably because they cant earn money off you). To overcome this, you tell them you want to open a trading account. When you do this, they automatically have to open a savings account for you to fund your trading account with money to buy shares.

Some bank trading account needs CDP, which is used to store your shares. Some bank dont need CDP, and they act as a custodian to your shares. Again, CDP is not a factor here. The key is the trading account.

You mentioned bonus interest,... so how much is the total interest, plus the bonus interest ?

Looks like times have changed a lot,... many years ago when I opened my savings accounts, the branch personnel did not tell me to open the trading accounts too. I had to put in extra effort to seek out the brokerage that offers the best rates, and then opened the accounts there.

But it's good also-lar if you have to open the trading account at the same time. After all, if you wished to buy SG REITs, you needed a trading account also.

I think if a bank does not require you to open a CDP account, it means your shares are kept under a nominee account, and not by CDP. That's what happened for private banking accounts in Sgp.

So,... if one opens a Savings Account with Maybank, then Maybank will impose that the person must open a trading acct with Maybank-Kim Eng Securities too ?

Sorry could you let me know what is TAC?

Yes, walk in, tell them you want a trading account you are all set. For standard chartered, they may ask you to fill an assessment form. On the option asking whether you have done 6 trades in the past, say yes (dont worry they dont check whether its true). Its some rule by the SG gov after the financial crash, to prevent financially uneducated people from dumping their money in shares

For both saving accounts there will be online banking, and they will give you a physical token. You can use your Malaysia address and all letters will be sent to you in Malaysia. Transfering money can be done online. In fact in Singapore, interbank transfer is instant and free (i really mean instant, when you click transfer on bank A and you refresh bank B, your money is already updated in bank B). Limited to 50K SGD a day.

Order is not important. But come to think of it... OCBC has a 3000 SGD min balance, Stan chart has a 1000 SGD min balance which may be quite steep for some people.

Tq,... hmm, 1% ??

KWSP, capital guaranteed, consistent 6++% dividend for past 5 years.
http://www.kwsp.gov.my/portal/en/web/kwsp/.../dividend-rates

yes you are right bro,i am talking sgd,actually got 4-5% yearly i am ok liao ..any recommend me?   i read somewhere cimb singapore offer 1.9% for 24 month FD, and may i know malaysia can buy singapore saving bonds?

Ok done with opening.next is to decide what to buy

Quite also. The Manager asked alot of questions.

More stringent. Ocbc doesnt allow me to open.

Why do u wan open? How much you intend to put? But i can show to them i m staying with relative in sg.

But the approval is case to case basis. I brought along around sgd20k.

Do u plan to open an acx in sg?

Yes cash so that they nay consider my application

Bro,... you are always scouring ard these pages. You would have read that you just need to answer yes to their questions, act smart and answer with some higher numericals to their questions which required numerical answers.

Come on, bro,...

Update us if u have any luck in opening one. Have u tried most banks in Sgp?

ideal situation would be having a DBS account then.

and thanks for the tip on MY bank inward remittance. 

:thumbsup: I love yr profile photo, Shin,...

Bro Ramjade,... charging SGD5 per month ?

yo. if you are do not want to go singapore just to open an account, you may look into opening a Maybank SG account locally. without travel. just go to some selected few MBB branches to sign the form. It's called iSavvy account. minimum SGD500 to open. only con is that it takes 3-4 weeks for them to validate and approve the acc opening.

ah talking about brokerage fee... MBB SG recently emailed me offering 2 type of account brokerage

KE Trade (Cash) Account
- A trading limit will be given for you to buy the shares first. Settlement to be done later.
- Shares are held in The Central Depositary (CDP)
- Commission rates are 0.275%, minimum of SGD25

KE Trade Prefunded Account
- You need to transfer funds into your account first. Funds that you leave in your trust balance earns an interest rate of 0.32%
- Shares are held with Maybank Kim Eng in a segregated sub-account
- Commission rates are 0.18%, minimum of SGD10

Can compare with SC's SGD10 brokerage?