Bro where do you get DBS FD 1M is 3.28%? Which currency is that?

I check the foreign currency FD rates: https://www.dbs.com.sg/personal/rates-onlin...-fixed-deposits

and SGD FD rates: https://www.dbs.com.sg/personal/rates-onlin...-fixed-deposits

can't find anything. Is it OTC promo rate?

That's exactly what I was illustrating for KDI Save and Versa's case...

"Short-term" bonds can also be marked down when rates rise significantly. Good that you showed this chart.

Can anyone confirm that OCBC SG does not have foreign time/fixed deposit rates?

I only found UOB and DBS USD FD rates, but couldn't find comparable data from OCBC's SG website. https://www.ocbc.com/personal-banking/depos...rest-rates.page (It shows 0% for all currencies).

I have decided to move my HKD funds over to DBS SG for short 1-2 months USD FD parking as the rates are quite favourable compared to the 0.3% p.a. rate given by Mox.

Uhm... https://www.fullertonfund.com/investment-fu...ss_currency=USD

If you check the fact sheet for Class A:

1.
2.
3.

So DBS still the way to go.

Something relevant too: https://www.wsj.com/articles/money-market-f...share_permalink

Ok, according to my recent study of "risk", we have different views on the meaning of "safest'.

I look at tenure, counterparty, underlying assets etc. You are more concerned with tenure alone.

Perfectly fine.

I am afraid there in no such convenience bro. 1 market 1 price.

FD is "fixed" money, hence the name. You should look for floating deposits or MMF strictly investing in short-term deposits only.

Ok lah, I think Fullerton USD Class A Cash Fund suits you well, honestly. As long as you got no problem with funds dealing with SG branches of foreign banks.

I personally prefer local SG banks.

I have checked with my SG friend, you can also check on HWZ forum for common topics/threads in the Money Mind subforum there.

The reponse from my SG friend is: DBS multipler, OCBC 360, and UOB one, all high yield saving accounts which require you to fulfill conditions (but hacks are possible and loopholes are everywhere, e.g. refund of SSB is considered income (the whole SSB amount, including principal that is), so there's double count here...)

I personally found Singlife account mentioned commonly in HWZ. Singlife is a flexible saving insurance fund which allows instant withdrawal via FAST to your bank account, but the FAQ claims may take up to 3 hours to appear. Daily withdrawal limit is 20k SGD.

https://singlife.com/en/faq/singlife-accoun...and-withdrawals

But the returns are miserable with conditions attached. https://singlife.com/en/singlife-account

Anyway, bro, bear in mind risk free rates in SG and MY are not the same. Please refrain from comparing 2.5% p.a. of KDI Save with SG cash management solution providers. Not only are the benchmark rates different, there is an additional foreign exchange rate factor to consider as well.

Uhm... SSB is a totally different product vs KDI Save. SSBs are government-guaranteed saving bonds. The directly-comparable product in Malaysia is Sukuk Prihatin offerred 2 years ago if you still remember.

KDI Save operates like a money market mutual fund in the backend, like Versa's Affin Hwang Enhanced Deposit Fund. Its direct counterparts in SG include:

1. Stashaway SG Simple
2. Endowus SG Cash Smart
3. Syfe Cash+ (harmonics3 Can consider this, there is quick withdrawal possible within same day and next business day: https://help.syfe.com/hc/en-us/articles/441...-does-it-work-)
4. NTUC's MoneyOwl WiseSaver

And SG brokers offer similar products:

5. Moomoo/Futu SG SmartSave
6. Tiger Broker SG Tiger Vault
7. FSM SG Auto-Sweep Account
8. POEMS SG Smart Park

This post has been edited by TOS: Nov 8 2022, 12:13 AM

That's board rate. The 3.8% 5-month FD is promo rate. It's only published and discussed in certain sources.

Like here: https://www.foodiesg.com/archives/52459

and here: https://forums.hardwarezone.com.sg/threads/...575909/page-556

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

Anyway, the 3.8% p.a. 5-month promo from DBS has ended, according to sources from HWZ (second link above).

The DBS 3.8% promo can be done online. You need to enter the specific promo code. You can see some screenshots over here: https://forum.lowyat.net/index.php?showtopi...ost&p=105819043

For other banks, most can be done online (like the 3 local S-banks), some needs to be done OTC, especially for first time FD account opening at the banks/financial institutions.

*Extra info:

Not sure about Malaysia's case, but for withdrawals, some can be done "over the phone", like RHB Singapore's FD, see: https://forums.hardwarezone.com.sg/threads/...#post-144827092

Which Spore bank offers 1 year 4.45% SGD FD? That's high.

From what I found as of now, the highest promo rate quoted is 3.9% p.a. for OCBC premier private clients and RHB Singapore. Minimum 20k SGD.

There are other banks in Singapore offerring lower rates of 3.7-3.8% p.a. with lower minimum placement thresholds of 10k, 5k or even a few hundred SGD.

https://sgfd.neocities.org/

lol that's Malaysia's RHB foreign currency FD rates, not the Singapore side. Technically that's Euro-SGD FD., i.e. SGD deposited outside of Singapore and not subject to MAS regulations.

You will incur forex conversions loses of 0.5-0.6% or 5%, depending on whether or not you apply for the debit card. https://www.rhbgroup.com/treasury-rates/mul...card/index.html

So, if you don't use the multicurrency debit card, all your FD returns are eaten up completely by the bank, plus some loses of (4.45%-5%), assuming forex level remains the same 12 months later.

If you apply for the multicurrency debit card, you will have to pay 20 ringgit card fee annually, though you get a better, 0.5-0.6% FX spread.

For reference, the onshore RHB SG Fixed deposit, insured by SDIC, offers 3.9% p.a. for a 12-month placement. https://rhbgroup.com.sg/rhb/personal/fixed-deposit-campaign

This post has been edited by TOS: Nov 21 2022, 10:25 PM

From BT 211122, onshore SGD FD-related stuffs.

DBS SG has new SGD FD promo. 3.6% for 5 months. https://www.dbs.com.sg/personal/deposits/pr...lSerNov17Group8



This post has been edited by TOS: Nov 23 2022, 01:42 PM

Yes, if you are looking for SGD debit card/saving account, can try Maybank SG iSavvy account which can be opened from Malaysia. The downside is you need to park 500 SGD inside (to avoid 2 SGD fall below fees), pretty much a tied-up capital. The iSavvy account will be able to accept FAST transfers in and out just like most SG bank accounts.

If you only need a bank account without debit card, CIMB SG Fastsaver will do the job, no minimum capital tie-up. The onshore SGD FD rates are also better than Maybank SG, but usually requires minimum of 10k SGD for each placement.

This post has been edited by TOS: Nov 25 2022, 10:24 PM

Just a reminder. Last day today.

CIMB SG onshore SGD FD rates revised (for December 2022).

TENURE	PERSONAL BANKING ONLINE PROMO INTEREST RATE(%P.A.)	PREFERRED BANKING ONLINE PROMO INTEREST RATE(%P.A.)
6 Months	3.95	4.00
9 Months	4.05	4.10
12 Months	4.15	4.20

Minimum placement: $10,000 AND ABOVE

Source: https://forums.hardwarezone.com.sg/threads/...575909/page-568

Duplicate post.

This post has been edited by TOS: Dec 1 2022, 09:16 AM

Nice finding bro. You really did your homework!

Alliance is backed by Temasek (they own 30%), so some "plus point".

But offshore euro-SGD FD are riskier. No deposit insurance protection. SGD not in SG means it's always subject to BNM's regulations.

And lastly counterparty risk. Alliance bank is no DBS, UOB or OCBC.

Factor in 1% p.a. for all these risks, 3.1% for 3 months is about the same as onshore SGD FDs.

So, uhmm... I am "indifferent" to this deal.

About 2% spread from market rate. https://www.allianceonline.com.my/personal/...e_kiosk_view.do

I think your SGD in Alliance bank is just for FD, so what matters would be inward remittance and outward remittance charges plus the FD rate/tenure. The "functionality" is already limited to FD. Fee-wise, 7.50 MYR for outward remittance to SG bank account. No mention of charges on inward remittance on Alliance side from what I found. https://www.alliancebank.com.my/general/fees-and-charges