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Anonymous

18 Aug 2024

∙

General Investing

Hi, any high chance like foreign bank goes insolvent in Singapore like ICBC? Is foreign bank stable in Singapore? Why usually the foreign banks fixed deposit rates is higher than local banks?

If i place MORE than S$75,000 into a few fixed deposit accounts in a same bank, if one day the bank is insolvent, the maximum the fund the bank will compensate me is S$75,000?

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C Guan Wen

01 Sep 2024

Unlikely

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Francis

01 Sep 2024

I guess foreign banks give higher rates is to attract funds who will usually put into local banks.

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Eddy

31 Aug 2024

Unlikely

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yiyik

29 Aug 2024

Think Unlikely yes sdic

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Jinsha

26 Aug 2024

Very unlikely scenario...

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Related Posts

How is ICBC offering such high interest rates(1.85% pa) for their fixed deposit: min. 500SGD They offer higher interest rates for usd. What might be the risk for both ICBC and their customers when they offer such a high i/r?

Hi all, if I place saving in the Stashaway Simple Guaranteed, if one day Stashaway goes bankrupt (touch wood), will my money be gone? How about place in fixed deposit in the foreign bank in SG?

Hi all, i got about $70,000 in cash. Any other bank rather than Dbs offer higher interest rate and the interest wont go down if more cash into fixed deposit?

What bank offers best fixed deposit rate for $6 million to $6.5 million for the period of one year in singapore ?

Would you agree that we should not take board rates or fixed deposit pegged rates, given that banks can arbitrarily set those rates in their favour without basis?

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