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Gabriel

Serving National Service till May'20 followed by pursuing a degree in Computer Science at Nanyang Technological University

Gabriel

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Serving National Service till May'20 followed by pursuing a degree in Computer Science at Nanyang Technological University

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Gabriel

  • Answers (404)
  • Questions (2)
  • Reviews (27)

Singlife Account

Savings Accounts

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, there is no lock-in period and you are free to cancel the account anytime with no penalities or whatsoever, there's no minimum balance or fall-below fee etc. So in the event you decide to terminate your account, you should get back your $100.
šŸ‘ 0

Savings

Singlife Account

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, I've been using the Singlife Account since January and in my opinion, it's really attractive as it functions like a bank account and the interest of 2.5% p.a it offers is super competitive and the highest in the market at the moment, with no other terms and conditions, penalties or whatsoever, such as minimum spending, salary credit etc. It is safe as your deposits/capital is guaranteed and insured under the SDIC so rest assured.
šŸ‘ 0

Investments

Online Brokerages

Stocks Discussion

S&P 500 Index

NYSE (New York Stock Exchange)

Gabriel
Gabriel
Level 8. Wizard
Updated 6d ago
Hey Anon, the popular brokers that people use are Interactive Brokers, SAXO, POEMS and FSMone. Do make a comparison to see which best suit your needs. Recently, there's also a new broker called Tiger Brokers, which is having a new sign up promotion, do check them out too!
šŸ‘ 0

Investments

Savings

STI ETF

Regular Shares Savings Plans (RSS/RSP)

StashAway

COVID-19

REITs

Singapore Saving Bonds (SSB)

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, congratulations on the start of your investing journey. Why not consider setting up a RSP for both STI ETF and REITS since most of the indexes have dropped quite a bit due to the coronavirus. For REITS under DBS' Invest Saver, you can consider Nikko AM-StraitsTrading Asia ex Japan REIT ETF (CFA). Check out this thread for a comparison - https://seedly.sg/questions/which-s-reit-etf-would-you-recommend-for-stable-dividends
šŸ‘ 0

DBS Vickers Securities

Stocks Discussion

Investments

Gabriel
Gabriel
Level 8. Wizard
Updated 6d ago
Hey Anon, I don't think it's possible to purchase stocks using cash upfront via the Vickers mobile app. I've tried to before as well but couldn't find the cash upfront option, therefore I've been using the web version on my mobile which isn't too bad given that the mobile app isn't very user friendly either. To check if your Vickers account is connected to your CDP, do login into the CDP portal and under the Customer Service tab, click on View/Update Profile. You'll be able to see all of your linked brokerage accounts under My Trading Account on the right. !
Answer image preview
šŸ‘ 1

Investments

Online Brokerages

DBS

DBS Vickers Securities

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, in my case, I applied to open a Vickers account on 31 Dec 19 and it was activated on 6 Jan 20. So it took about 3 working days for me. Perhaps you can drop them an email at [email protected] , they're pretty quick to respond.
šŸ‘ 0

Investments

Stocks Discussion

Online Brokerages

Brokerages

DBS Vickers Securities

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, you'll need to fill up the W-8Ben form, do check out the link below from DBS on how to go about this - https://www.dbs.com.sg/personal/support/investment-vickers-activate-foreign-markets.html
šŸ‘ 1

DBS Multiplier Account

Standard Chartered JumpStart Account

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, in my opinion, Standard Chartered's Jumpstart account is the best savings account for you as it offers 2% interest p.a with no other conditions such as salary crediting and minimum deposit/balance/spending. Besides, the debit card which comes with it offers 1% cashback on all spending, excluding the usual stuff such as transport and fines etc. Alternatively, you can also consider using the Singlife account which offers 2.5% interest p.a on your first $10k, though the returns (interest) are not guaranteed. But rest assured as your capital is guaranteed and insured under SDIC like any bank account. Check out my review of the account here - https://seedly.sg/reviews/savings-accounts/singlife-account?rid=11334&utmsource=reviewshare&utm_medium=internal As for spending (debit card), if you can spend over $400 on contactless payment (Visa paywave) and withdraw under $400 in cash from the ATM every month, you should use the DBS Visa Debit Card which offers 3% cashback on all spending, excluding the usual exclusions such as payment to government institutions. Otherwise, stick with the debit card that came with your Standard Chartered Jumpstart account as it offers 1% rebate on all spending, similarly, excluding the usual stuff. Yes, 1% isn't alot but a little goes a long way!
šŸ‘ 0

BOC F1RST Card

Savings

Debit Cards

Credit Cards

Gabriel
Gabriel
Level 8. Wizard
Answered 2w ago
Hey Anon, do consider signing up for a Standard Chartered Jumpstart account as it comes with a free debit card which offers 1% rebate on all spending with no minimum spending, balance or other conditions. The BOC F1RST card only offers half of that, 0.5% rebate. Besides, the annual fees after the initial few years of waiver seems pretty hefty. If you still would like a credit card, do consider the Maybank eVibes card which offers 1% rebate as well. Also, the annual (quarterly) is easily waiveable so long as you use your card. I'm also using both the SCB debit card and Maybank eVibes credit card, no regrets thus far.
šŸ‘ 0

POSB SAYE Account

Standard Chartered JumpStart Account

Savings Accounts

Gabriel
Gabriel
Level 8. Wizard
Answered 2w ago
Hey Anon, I believe it would make more sense to use the Standard Chartered Jumpstart account since you'll be able to enjoy 2% interest p.a which will be credited every month as opposed to POSB SAYE where you'll only be able to enjoy a one-time off 2% interest on the accumulated deposits after 2 years. Besides, you get the flexibility instead of having to lock up the funds in SAYE for 2 years.
šŸ‘ 0
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