Advertisement

Anonymous

18 Apr 2019

∙

Does it make sense to redeem SSB with lower step up interest 1.4x - 2.0x for 1st 3 - 4 yrs but with attractive step up in last few yrs arises to eg. 2.11 % & 2.31% (Mar Apr 18 tranche) average interest?

Thereafter, deploy to other high interest saving bank, etc Citi Maxigain which has good interest rate under current rising sibor environment? The key is future interest rate will be unknown. I don't want to end up trying to win big in the beginning & lose out more eventually.

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Nicholes Wong

19 Feb 2019

Diploma in Business Management at Nanyang Polytechnic

Citi maxigain did reduced from 80% of SIBOR to 70% of SIBOR because interest rate is rising. So they would probably do similar things if interest rate continues to go up and would not be a huge different. Personally if i have at least 70k, i would go for maxigain because they are compound interest unlike SSBs which are simple interest. You have to make your own decision.

Reply

Save

Write your thoughts

Related Posts

If I am currently earning x% interest in the bank, is there a reason why I would buy SSB now even though it will take at least 4 years to achieve more than x% average return per year? ?

I have 30k in UOB acc including 5mth emergency fund. I want to hit 50k to max my interest. Does it make sense to use say 10k from it and use it in SSB / STI ETF and cash out instead? Mid 20s here.

Hi, wondering if G3B STI still makes any sense to do a DCA. Returns a year is a bout 4% dividends which isnt attractive. Should I sell once the market recovers or is there something I am overlooking?

The core inflation rate is around 1.4-1.9% in Singapore, which is higher than many saving accounts interest rate. Do you think it makes sense to invest instead of keeping money in saving accounts?

I had $10k in a high yield savings account. At first, it was earning about $20 a month in interest, but now it only earns $3 or $4 a month. Did I make a better decision, equal, or worse decision?

Related Products

Standard Chartered JumpStart Account

4.8

783 Reviews

Maximum Interest: 2.50% p.a. for balances up to S$50,000

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

DBS/POSB Multiplier Account

4.4

321 Reviews

OCBC FRANK Account

4.7

212 Reviews

Related Posts

If I am currently earning x% interest in the bank, is there a reason why I would buy SSB now even though it will take at least 4 years to achieve more than x% average return per year? ?

I have 30k in UOB acc including 5mth emergency fund. I want to hit 50k to max my interest. Does it make sense to use say 10k from it and use it in SSB / STI ETF and cash out instead? Mid 20s here.

Hi, wondering if G3B STI still makes any sense to do a DCA. Returns a year is a bout 4% dividends which isnt attractive. Should I sell once the market recovers or is there something I am overlooking?

The core inflation rate is around 1.4-1.9% in Singapore, which is higher than many saving accounts interest rate. Do you think it makes sense to invest instead of keeping money in saving accounts?

I had $10k in a high yield savings account. At first, it was earning about $20 a month in interest, but now it only earns $3 or $4 a month. Did I make a better decision, equal, or worse decision?

Advertisement