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 Anyone know about foreign FD?

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SUSTOS
post Oct 25 2023, 02:14 PM

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QUOTE(Medufsaid @ Oct 25 2023, 02:05 PM)
why not go for Stashaway SG Simple? no lock in periods

user posted image
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2 things:

1. No SDIC guarantee. Technically those funds' underlying are only partially MAS Bills/T-bills, there are short-term commercial papers, MTNs/EMTNs etc.

2. Withdrawal is not as flexible as from within CIMB SG itself. CIMB's by itself a bank account, direct FAST to anywhere else in SG instantly. whereas SA Simple needs at least 2 business days for withdrawal.

SA Simple "Guaranteed" might be a bit more tempting, especially on the shorter-end tenure of 1-3 months.
SUSTOS
post Oct 25 2023, 05:02 PM

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QUOTE(Hansel @ Oct 25 2023, 04:23 PM)
It's harder for new customers. They have to have incremental mth-after-mth.
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Actually, it's not too difficult. The trick here is to game the system as they only check the balance on the last day of each month.

So, on the last day, or 1 day before it to be safer, you move the funds out to some other accounts, then the next day (first day of new month), you move the money back in again.

You lose one day of interest each month, but you gain the flexibility of having a very low end-of-month balance for comparison in subsequent months, which helps in managing liquidity.
SUSTOS
post Oct 25 2023, 08:32 PM

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QUOTE(Medufsaid @ Oct 25 2023, 08:28 PM)
but the SGD in rhb mca is not part of singapore eco system right? I can't FAST in and out from my CIMB sg acct. investors or savers need to be made aware of this
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Ahyo just open a Stashaway SG account and select Simple Guaranteed... Makes life easier.

Want a bit more risks, then go for Fullerton SGD Cash Fund.


SUSTOS
post Oct 26 2023, 02:23 PM

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QUOTE(abcn1n @ Oct 26 2023, 02:17 PM)
I see. Thanks
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His bank's traders are taking position against him and he still doesn't realize that. brows.gif
SUSTOS
post Nov 1 2023, 12:02 PM

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QUOTE(Toku @ Nov 1 2023, 11:27 AM)
That is called internalization?
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It's called front-running. laugh.gif

https://en.wikipedia.org/wiki/Front_running
SUSTOS
post Nov 1 2023, 01:06 PM

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Oh my god.. You take up your banker's loan offerings...

Not too long ago HNWIs take up loans from private banks to buy Credit Suisse AT1 bonds... 6% yield not enough back then apparently... You know what happened thereafter.

» Click to show Spoiler - click again to hide... «
SUSTOS
post Nov 1 2023, 05:28 PM

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QUOTE(Hansel @ Nov 1 2023, 01:52 PM)
Yes, I know,... I was staying in Sydney for three mths when the above happened this year,.... I am wary of my currency pairs,...

By the way,... just to let you know : you are right in your calculations on the interest to be paid out for that,... emm,... you call is 'fake' FD by CIMB SG. I received exactly $51.16 for my 100K today,...  thumbsup.gif

I won't monitor anymore after this,... better do other more 'profitable' things,... I monitored the above just to share with you and to express my appreciation and gratitude for your spreadsheet.

Thank you again.

Edited by adding,..... I'll track again on the bonus interest, but after witnessing the above, I think it shld be correct. I'll have to pump in more money or my funds will be sitting idle,...

How do you know if I don't have a 'U' in front of the HNWI ???  biggrin.gif
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Wow you have at least 30 million USD... thumbup.gif

Next time you come to SG, drive your Ferrari come to NTU and pick me up... laugh.gif Then we visit your good-class bungalow in Tanglin or Bukit Timah laugh.gif
SUSTOS
post Nov 1 2023, 05:34 PM

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QUOTE(CommodoreAmiga @ Nov 1 2023, 05:15 PM)
Anybody have FD in Singapore CIMB? Now got a problem, they have change their password rules and needs to reset password. However, since i only have a Malaysia phone no, i can't send SMS to get activation code and need to call their Service Centre to get Activation Code. WTF. But i still can access and login using biometric on my phone. Can't use password on mobile or website.
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Yea, based on this new system, you just have to call their service center and reset your password.

https://www.cimb.com.sg/en/personal/importa...cimb-click.html

I think this is just a one-time affair. Should not happen all the time.
SUSTOS
post Nov 1 2023, 05:55 PM

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QUOTE(dwRK @ Nov 1 2023, 05:53 PM)
its not front running lah aiyoo... bank didn't jump in ahead of bro Hansel's order... bank is also not taking a position against him, but obviously bank is the counterparty...
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How do you know they don't? tongue.gif


SUSTOS
post Nov 3 2023, 10:01 AM

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QUOTE(dwRK @ Nov 3 2023, 09:43 AM)
just as you have no proof they do... biggrin.gif

but against the law is one... rogue employee notwithstanding...

unless is a systemic and systematic program to front run clients... paltry sum ah from bro Hansel not worth the risk...
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https://www.nytimes.com/2016/07/21/business...ent-orders.html

https://www.nytimes.com/2009/03/05/business...specialist.html

https://www.ft.com/content/9a09df46-4f18-11...c5-db83e98a590a

Some examples above are from brokerage firms and corporate banking side, can't find a private bank example. But in theory it's not impossible, especially for banks with multiple banking segments in one umbrella like JP Morgan (which has private banking, corporate banking, investment banking etc).

This one comes close: https://www.euromoney.com/article/b12kkwwzh...t-the-beginning

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Front-running is very common actually, even in Malaysia.
SUSTOS
post Nov 22 2023, 03:38 PM

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BOC SG 3 month 3.50% Minimum 5000 SGD

https://www.bankofchina.com/sg/bocinfo/bi3/...0_24088022.html

Source: bargin/HWZ
SUSTOS
post Jan 24 2024, 08:48 PM

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BOC SG's latest FD rates: https://www.bankofchina.com/sg/bocinfo/bi3/...2_24463149.html

Good news! The minimum mobile banking FD placement is no longer 5000 SGD but just 500 SGD only.

Source: lzydata and MastersIT/HWZ
SUSTOS
post Jan 31 2024, 03:33 PM

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Syfe Guaranteed 3 month 4% is probably the most attractive package out there now. The declining 3 month MAS Bill risk-free rate means that you are increasingly being compensated for betting that Syfe won't go belly up in the next 3 months...

Looking at yesterday's 12-week MAS bill COY of 3.95%, the counterparty risk premium is around 0.05% p.a.

Is that attractive for you guys? biggrin.gif

If I don't get the 6M T-bill auctioned tomorrow, I will probably start to take bets on Syfe's financial health in the next 3 months...
SUSTOS
post Apr 21 2024, 09:03 AM

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Warm reminder:

From this month onwards (April 2024), insurance coverage on SGD bank deposits will be raised to $100,000 per depositor.
SUSTOS
post May 29 2024, 06:03 PM

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https://www.dbs.com.sg/personal/rates-onlin...d-deposits.page

Very short-term DBS USD FD rates drop by some 8 basis points to 5.01-5.03% recently...

Used to be 5.09%...
SUSTOS
post May 29 2024, 06:29 PM

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QUOTE(hksgmy @ May 29 2024, 06:24 PM)
that’s good news… I think?
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Yea for sure, they hadn't raise the coverage limit since 2019, and gotta factor in inflation etc.
SUSTOS
post Aug 8 2024, 10:17 AM

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A pretty terrible promo, but just in case you are fans of DBS/POSB... laugh.gif

https://www.posb.com.sg/personal/posb-ssb-t...dex-posb-202408
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