Which bank offers the highest Fixed Deposit rates?

[Volvobrick]

On 8/31/2023 at 10:16 PM, Voodooman said:

CiMB is on demand deposit, this is 6M.

You have $1.5m, you should just buy some bank bonds to lock in 5%pa for next 5 years. 

Be careful and read the terms and condition. So called bonds may be written off like Credit Swiss case. 

 

[Voodooman]

On 8/31/2023 at 10:57 PM, Volvobrick said:

Be careful and read the terms and condition. So called bonds may be written off like Credit Swiss case. 

 

None of credit suisse investment grade bonds are written off. Just don't touch the perps, they are supposed to be quasi equity. 

 

[inlinesix]

On 8/31/2023 at 11:02 PM, Voodooman said:

None of credit suisse investment grade bonds are written off. Just don't touch the perps, they are supposed to be quasi equity. 

 

I think Perpetual bond is generally classified as equity.

During liquidation, it ranks higher than shareholder only.

[Voodooman]

On 8/31/2023 at 11:21 PM, inlinesix said:

I think Perpetual bond is generally classified as equity.

During liquidation, it ranks higher than shareholder only.

Yup most perps are categorized as equity. In CS case, the common equity holders appear to rank above the perp holders although it is in the T&C that regulators can write it down fully.

OT already but my friend was complaining his $500k largely went to UBS shareholders with this announcement.  😅

https://www.bloomberg.com/news/articles/2023-08-31/ubs-smashes-banking-profit-record-as-it-absorbs-credit-suisse

[Kopites]

On 8/31/2023 at 10:16 PM, Voodooman said:

CiMB is on demand deposit, this is 6M.

You have $1.5m, you should just buy some bank bonds to lock in 5%pa for next 5 years. 

😁 I am not into cimb. I was quoting enye to use the cimb yield as a guage for bidding competitive tbill. 

 

 

[Strat]

From HWZ:

DBS FD 3.00% P.A. 6mths (min 20k)

Code: HXAL

 

 

[Voodooman]

On 9/1/2023 at 12:18 AM, Kopites said:

😁 I am not into cimb. I was quoting enye to use the cimb yield as a guage for bidding competitive tbill. 

 

 

You are saying he should use CIMB's 3.5% as reference point for 6M t bills.

Anyway, Enye has explained, so I won't elaborate further. 

[therock]

When I was at OCBC today, they said they may adjust the Dividend plus interest.. 😞 

[Throttle2]

On 8/31/2023 at 11:37 PM, Voodooman said:

Yup most perps are categorized as equity. In CS case, the common equity holders appear to rank above the perp holders although it is in the T&C that regulators can write it down fully.

OT already but my friend was complaining his $500k largely went to UBS shareholders with this announcement.  😅

https://www.bloomberg.com/news/articles/2023-08-31/ubs-smashes-banking-profit-record-as-it-absorbs-credit-suisse

Your friend $500k kena written off ah? 
alamak

[Voodooman]

On 9/5/2023 at 5:07 PM, Throttle2 said:

Your friend $500k kena written off ah? 
alamak

Yes. In full.

[Throttle2]

On 9/5/2023 at 5:32 PM, Voodooman said:

Yes. In full.

If he can afford to buy $500k of CS then i guess he can afford it.  
i cant afford to lose so i have/will never buy any of these bank perps tlac tiered papers

[Volvobrick]

On 9/5/2023 at 5:02 PM, therock said:

When I was at OCBC today, they said they may adjust the Dividend plus interest.. 😞 

Planning to take all out 1st Oct since need to use part of the cash there. Maybe back to synthetic. Last quote was 3.77% for 3 months. 

[Mkl22]

On 8/31/2023 at 10:57 PM, Volvobrick said:

Be careful and read the terms and condition. So called bonds may be written off like Credit Swiss case. 

 

Exactly . CIMB can close shop. If MAS close shop, then Singapore is also history and your problems are much bigger. 

[Mercs]

https://www.dbs.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

 

Returns of up to 3.92% per annum1

Lock in guaranteed maturity yield of 3.65% per annum1 for 3 years amidst market volatility

Non-guaranteed maturity yield of up to 0.27% per annum1

 

The illustrated maturity yield of 3.92% p.a. includes a non-guaranteed maturity bonus of 0.27% p.a. based on the higher illustrated investment rate of return (IIRR) of 4.25% p.a.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (“SDIC”). 

 

 

 

 

 

[t0y0ta]

On 9/5/2023 at 11:29 PM, Mercs said:

https://www.dbs.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

 

Returns of up to 3.92% per annum1

Lock in guaranteed maturity yield of 3.65% per annum1 for 3 years amidst market volatility

Non-guaranteed maturity yield of up to 0.27% per annum1

 

The illustrated maturity yield of 3.92% p.a. includes a non-guaranteed maturity bonus of 0.27% p.a. based on the higher illustrated investment rate of return (IIRR) of 4.25% p.a.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (“SDIC”). 

 

 

 

 

 

Looks interesting. Any gotchas?

[BanCoe]

On 9/5/2023 at 4:29 PM, Mercs said:

https://www.dbs.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

 

Returns of up to 3.92% per annum1

Lock in guaranteed maturity yield of 3.65% per annum1 for 3 years amidst market volatility

Non-guaranteed maturity yield of up to 0.27% per annum1

 

The illustrated maturity yield of 3.92% p.a. includes a non-guaranteed maturity bonus of 0.27% p.a. based on the higher illustrated investment rate of return (IIRR) of 4.25% p.a.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (“SDIC”). 

 

 

 

 

 

Looks good like a long term FD but of course can’t break it ……. With interest rates trending southbound ( herein SG especially ) in near future ; Min also 5K only ……. Die die still get 3.65% compounded 

Edited September 7, 2023 by BanCoe

[Mercs]

On 9/7/2023 at 12:16 PM, t0y0ta said:

Looks interesting. Any gotchas?

Not that i know of, the main one probably have to stick it out the full 3 years, or as with any insurance policy early cancel means lose money. 

 

On 9/7/2023 at 4:38 PM, BanCoe said:

Looks good like a long term FD but of course can’t break it ……. With interest rates trending southbound ( herein SG especially ) in near future ; Min also 5K only ……. Die die still get 3.65% compounded 

Same sentiment, my guess rates probably to pivot south from next year, so maybe a good time to lock in some for longer term, 3.65 is not too shabby still reasonably attractive and beat all current FDs, compounded after year 1 and if hit 3.92 also beat current T-bills.

 

[BanCoe]

On 9/7/2023 at 6:04 PM, Mercs said:

Not that i know of, the main one probably have to stick it out the full 3 years, or as with any insurance policy early cancel means lose money. 

 

Same sentiment, my guess rates probably to pivot south from next year, so maybe a good time to lock in some for longer term, 3.65 is not too shabby still reasonably attractive and beat all current FDs, compounded after year 1 and if hit 3.92 also beat current T-bills.

 

But must be between 16-60 age only ….. just saying 🤣🤣