Here's my argument with the actual cash flow from my CIMB SG accounts.

Warning: this is not for the faint-hearted.

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Exactly bro (I mean uncle...). The 20-day delay is the single biggest factor causing the deviation from the advertised 3.5% rate. Delays in interest on interest accounts for the rest of the error.

Like expanding Taylor series... you have zero order, first order, second order,...

Exactly bro (I mean uncle...). The 20-day delay is the single biggest factor causing the deviation from the advertised 3.5% rate. Delays in interest on interest accounts for the rest of the error.

Like expanding Taylor series... you have zero order, first order, second order,...

No bro,... bonus amt references amt in Savings Acct at end-September, 2023. Does not benchmark against previous mth unlike the Maybank Singapore program a few years ago. So, if you've "been lucky" and your amt at end-September was $0, you will ALWAYS be receiving bonus interest till the end of program, being March 2024.

You know, guys,... I feel really pathetic,... fighting and debating over a 3.50% or 2.70% interest rate today, when I used to be earning more than 6% in my REITs earlier.

Think I better spend more time speculating in forex or IPOs to make more capital gains-lar,....

Yup, in the second Excel I posted yesterday I got an IRR of 3.11% for about 2 months of interests with money kept in account and rolling.

A tiny correction is the compounding period is 365 days used by CIMB SG, not 365.25. I think their convention is ACT/365 if I recalled correctly. 

And as what Hansel says, it's based on September month-end balance.

So from what we see, it's indeed not 3.5% but the drop in 40ish basis points does not explain the low 2.7% p.a. IRR I am getting.

I am suspecting that the drop from 3.1/3.2% to 2.7% is probably also because we treat it as a saving account and hence money moving in and out reduces the IRR. What do you think?

This is for new customers... You need to check the table for existing customers.

There is a slight difference in the way they define the month-end balance criterion.

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.

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

That is called internalization?

It's called front-running.

https://en.wikipedia.org/wiki/Front_running

How do you know they don't?

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



Front-running is very common actually, even in Malaysia.

I know of all the above, bros,...
But if I'm still winning,.. I guessed I'm better than their rows and rows of analysts and 'manipulators' sitting in the office.

...have a good weekend, bro DWRK and other bros too.

Please don't link that thief link here. He takes info from here and didn't give credit and make it like his own research.

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