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?

Checked this morning : The SGD is stronger than the Canadian Dollar this morning.

Good news pour moi. My daughter is in Canada now and needed to use CAD,.......

SGD is GOD vs the JPY and the AUD (my needed currencies), and today,... the SGD is beating the CAD too,... yeah,... Majulah,...

Sorry bro,.. I'm out of this discussion,... you win,...

this one here is what i was referring to...


so, if maintain account, you'll get the final bonus in April, this makes the effective interest 3.33% max for <25k account throughout campaign period...

anyways...

just a technical discussion with bro TOS...

i don't even have skin in the game...

Not sure which line you are referring to? You mean the 3rd spreadsheet using my actual CIMB SG cashflow data?

It's the same XIRR formula dwRK and I are using throughout our calculations.

As said above to uncle dwRK, I strongly suspects the money movement in and out of the accounts affects the IRR as well. The delay of 20-days pulls down the IRR from 3.50% to 3.1-3.2%, and perhaps money movement pulls it further down to 2.6-2.7%.

So, a preliminary conclusion is if you want to maximize your CIMB SG account "3.5%" promo to its full extent, you have to treat the account as an FD account and not withdraw cash from it simply because you need to.

We also discovered that the effective rate, adjusting for the 20-day delay in bonus payments and assuming that you leave the interests in your account for further compounding, is around 3.1-3.2% p.a.

The lucky thing on my side is with the exception of some one-off spending, I usually withdraw cash for SG T-bills, so overall my opportunity cost is capped at SG 6-month T-bill rates.

This post has been edited by TOS: Oct 25 2023, 01:05 PM

Hmm,... your reference above says : PREVIOUS month-end balance.

But my eg says COMPARISON month-end balance !!!!!!!!!!!!!!!!!

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.

why not go for Stashaway SG Simple? no lock in periods

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.

didnt look at your other 2 tables to bro Hansel...

i use 365.25 because it matches closer to cimb example when setting it up.. i did see they use 365 in their example but didnt follow... i didn't recheck for 365 after...

yes bal amount generating interest or not will affect irr... you can see it in my table... my spreadsheet can easily account for money movements.... but the final step putting the intetest into the final calc is manual... lazy to set up macro or new column to do the final step...

It's harder for new customers. They have to have incremental mth-after-mth.

yeah... i just went with new customer plan...

i was curious how to set up the offset data for the spreadsheet ... and how might it influence the irr...

i have no interest in either cimb plans

anyways my table should be easy to use for either plan... once you get the hang of it...

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.

rhb mca giving 3.7... no fake 3.5... no jumping through hoops... etc etc

CAD drop now because of oil prices and it is good to buy some if you need the hedge the risks full blown war soon

It it's a full-blown war,... could be better,.... I'd like to buy the CAD cheaper.

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