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 Anyone know about foreign FD?

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SUSTOS
post Feb 18 2023, 06:26 PM

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QUOTE(Nutbeater69 @ Feb 18 2023, 06:19 PM)
I'm only interested with FD and im not a worker in SG. still possible?
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Tough.

You can try. But most recently, 2 trials below yielded nothing.

1. This is from 8th Feb 2023.

https://forum.lowyat.net/index.php?showtopi...ost&p=106547497

OP ran across 3 branches but was pushed for bancassurance products/mutual funds

-------------------------

2. Another earlier trial on Dec 8 2022 morning from another member in this forum. (He PMed me about his experience in the afternoon around 2pm) , his experience was similar.

QUOTE
Hi.

I went to MBFC today. They denied me account opening as they no longer open account for ppl without EP. Then I received a call from DBS call centre telling me that it’s possible if I talk to the investment and wealth planning manager. I went back and talked to them, they referred me to a relationship manager who then tried to sell me unit trusts and savings plans. If I bought any of these, he’s willing to open a normal savings acc for me. 😞


QUOTE
He didn’t give me any brochures but when I asked what amount he’s talking about, he said 30k to 50k.

The regular savings plan means you have to save like 30k every year for 5 years. No withdrawal is allowed. It’s like savings plan offered by insurance companies. Return is like 3.42% according to him.


This post has been edited by TOS: Feb 18 2023, 06:26 PM
SUSTOS
post Feb 20 2023, 12:59 PM

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HKD onshore promo FD, from 香港明报 Money Monday 200223:

» Click to show Spoiler - click again to hide... «
gooroojee
post Feb 24 2023, 12:31 AM

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user posted image
SUSTOS
post Feb 24 2023, 12:53 AM

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QUOTE(gooroojee @ Feb 24 2023, 12:31 AM)
user posted image
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Promo tactic. Check the markup on the SGD.MYR FX rates first. laugh.gif
SUSTOS
post Mar 3 2023, 11:22 AM

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Article on onshore HKD FD by 香港明报 030323. (No paywall)

https://finance.mingpao.com/fin/daily/20230...%88%a9%e7%8e%87
SUSTOS
post Mar 3 2023, 12:56 PM

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To halt asset outflow, Credit Suisse is offering HNWIs 6.5% p.a. 3-month USD FD and 7% p.a. 1-year USD FD.

Minimum deposit 5 million USD. The rates are about 100-200 bps (1-2% p.a.) higher than Asian regional competitors like JP Morgan, UBS and Citi.

https://www.sinchew.com.my/20230303/%e7%91%...87%ba%e8%b5%b0/
Hansel
post Mar 4 2023, 01:02 PM

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QUOTE(TOS @ Mar 3 2023, 12:56 PM)
To halt asset outflow, Credit Suisse is offering HNWIs 6.5% p.a. 3-month USD FD and 7% p.a. 1-year USD FD.

Minimum deposit 5 million USD. The rates are about 100-200 bps (1-2% p.a.) higher than Asian regional competitors like JP Morgan, UBS and Citi.

https://www.sinchew.com.my/20230303/%e7%91%...87%ba%e8%b5%b0/
*
CS is having lots of problems,.. I wouldn't put into their FD.
SUSTOS
post Mar 5 2023, 01:28 PM

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QUOTE(Hansel @ Mar 4 2023, 01:02 PM)
CS is having lots of problems,.. I wouldn't put into their FD.
*
https://www.reuters.com/business/finance/cr...ces-2023-03-02/

QUOTE
The new deposit rates are higher than Credit Suisse's lending rates in Asia, one of the two sources said, adding that it raises concerns about how the business can sustain such a funding gap.

The third source said the offers are valid until the end of this quarter and only apply to new cash deposits, not to existing portfolios.


First time I hear banks offer deposit rates higher than lending rates lol
commonsense
post Mar 5 2023, 03:02 PM

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how about PBB, anyone try before? can transfer SGD in singapore bank to this one?

https://www.pbebank.com/Personal-Banking/Ra...osit-Rates.aspx
xander2k8
post Mar 5 2023, 03:05 PM

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QUOTE(commonsense @ Mar 5 2023, 03:02 PM)
how about PBB, anyone try before? can transfer SGD in singapore bank to this one?

https://www.pbebank.com/Personal-Banking/Ra...osit-Rates.aspx
*
You can transfer but beware of the spread itself because it’s and you will lose more to PBE 🤦‍♀️

Use something like Wise or Instarem instead for better rates
SUSTOS
post Mar 8 2023, 09:45 AM

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QUOTE(TOS @ Feb 13 2023, 04:25 PM)
DBS still have a "secret" onshore SGD FD ongoing.

4.88% P.A. 3-MTH S$FD ($20K - $1M) (not a typo, it's 4.88)

Promo code SR1B

» Click to show Spoiler - click again to hide... «


Source: https://forums.hardwarezone.com.sg/threads/...#post-146257720
*
So, DBS honors the 4.88% FD. Congrats to those lucky guys! biggrin.gif

https://forums.hardwarezone.com.sg/threads/...#post-146595210
dwRK
post Mar 8 2023, 10:45 AM

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QUOTE(TOS @ Mar 5 2023, 01:28 PM)
https://www.reuters.com/business/finance/cr...ces-2023-03-02/
First time I hear banks offer deposit rates higher than lending rates lol
*
QUOTE
Total assets at Credit Suisse's wealth division, which was hit by worse-than-expected 92.7 billion franc outflows in the fourth quarter, fell to 540.5 billion Swiss francs ($575 billion) by the end of last year from 742.6 billion francs a year earlier.

liquidity issue...

have to look at incrementals as well... its only 1-2% more than competitions... and base lending is only one aspect of banking business...
yamatotrading
post Mar 9 2023, 10:07 PM

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i have placed SGD FD in malaysia banks, and also have a saving account in singapore.
since we are staying and working here, in terms of practicality, i would advice just keep in on shore (in Malaysia).
The saving account in singapore ended become dormant and troublesome to reactivate.
It's internet banking require TAC code which only works on singapore line, im unable to transfer the funds back to Malaysia at the moment. Maybe next round go singapore jalan2, just close the account.
cutepony
post Mar 11 2023, 02:52 PM

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Does Singapore bank still use SMS for online verifications or has they switched over to app?
SUSTOS
post Mar 11 2023, 02:54 PM

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QUOTE(cutepony @ Mar 11 2023, 02:52 PM)
Does Singapore bank still use SMS for online verifications or has they switched over to app?
*
DBS, CIMB SG and Maybank SG all use app although Maybank SG has SMS TAC option available as well.
SUSTOS
post Mar 16 2023, 03:15 PM

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All SG bank rates going down.

RHB: https://rhbgroup.com.sg/rhb/personal/fixed-deposit-campaign

HLB: https://www.hlbank.com.sg/en/personal-banki...it-account.html

SC: https://www.sc.com/sg/save/time-deposits/si...r-time-deposit/

UOB even secretly removed their 12-month offer lol

https://www.uob.com.sg/personal/save/fixed-...ed-deposit.page

Or you may consider "short-term endowment" by DBS:

https://www.dbs.com.sg/personal/insurance/e.../savvyendowment

Source: https://forums.hardwarezone.com.sg/threads/...575909/page-721
SUSTOS
post Mar 17 2023, 01:20 PM

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Finally, DBS's 1 month Eurodollar deposit yields a positive risk premium over US 1 month T-bill.

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

1 month USD uninsured deposit at DBS yields 4.39% p.a. (link above).

Using 30/360 day count convention in US T-bill market, converting 4.17% p.a. discount rate* to bond equivalent yield (i.e. comparable to DBS FD convention) will result in 4.18%, thus approximately a 20 bp counterparty risk spread has emerged between DBS USD FD and US 1M T-bill.

*4.17% p.a. discount rate quoted from CNBC: https://www.marketwatch.com/investing/bond/...?countrycode=bx

This post has been edited by TOS: Mar 17 2023, 01:25 PM
SUSTOS
post Mar 20 2023, 10:41 AM

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Latest onshore HKD FD promotions, from 香港明报 Money Monday 200323:

» Click to show Spoiler - click again to hide... «
CommodoreAmiga
post Mar 20 2023, 02:01 PM

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QUOTE(TOS @ Mar 20 2023, 10:41 AM)
Latest onshore HKD FD promotions, from 香港明报 Money Monday 200323:

» Click to show Spoiler - click again to hide... «

*
Seems lower than here.
xander2k8
post Mar 20 2023, 02:08 PM

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QUOTE(CommodoreAmiga @ Mar 20 2023, 02:01 PM)
Seems lower than here.
*
But less depreciation than RM 🤦‍♀️ because HKD it is pegged to the USD
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