Fixed Deposits

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Fixed Deposits
  • Asked by Anonymous

  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered 2w ago
    If you really know when it's going to crash, then you should buy an Inverse Tracker. Market go down x%, your fund goes up x%. But I suggest not timing the market. We've been thinking market gonna crash since 2016. You can pivot to a more defensive portfolio, but maybe try not to exit the market in total.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 10 Apr 2019
    It would depend on the % of your loan. I'd clear anything higher than 4% per annum. For your HDB loan, instead of trying to clear it quick, just switch from paying with CPF to paying with cash. Btw, Bonds and FD will only give you about 1.5-4% return. Clearing your loan would also give you a similar "return".
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered on 07 Apr 2019
    Update 2019: The new amount is $75,000 not the $50,000 which was previously insured. (as effective on 1 April 2019) What this means in simple english: Your deposits in your bank account is insured up to $75,000. So if the bank goes bankrupt, this is the amount which you can get back from this organisation. The SDIC was set up to protect the core savings of small depositors in Singapore in the event a full bank or finance company fails. Singapore consumers enjoy the benefits of a sound banking system. Banks and finance companies licensed in Singapore are supervised by the Monetary Authority of Singapore (MAS). It is MAS' aim to ensure the stability of the banking system in Singapore and to require financial institutions to have sound risk management systems and adequate internal controls. However, MAS does not guarantee the soundness of individual financial institutions. Therefore, a Deposit Insurance Scheme has been set up to protect the core savings of small depositors in Singapore in the event a full bank or finance company fails. You can read more here: https://www.sdic.org.sg Fun fact: The increased coverage amount will fully insure more than 90 per cent of depositors, the MAS said.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 04 Apr 2019
    You need compounded growth over a long term to grow your wealth. Using high interest savings account, CPF, endowment plans are safe ways to find compounded growth with minimal risk. If you'd like to start investing, you should start by opening a managed global portfolio either set up by a Financial Advisor or a Robo Advisor. As long as you stay invested, your money will quickly compound and your 20k will start doubling every 10 years or so.
  • Asked by Anonymous

    Richard Woon Tian Jun
    Richard Woon Tian Jun
    Top Contributor

    Top Contributor (Apr)

    Level 6. Master
    Answered on 03 Apr 2019
    Depends on the time horizon of your investment, but even then I am still leaning towards SSBs. SSBs have that unique level of liquidity not present within many of the other types of fixed income securities and savings accounts. SSBs in this month (May 2019 issuance) is starting at 1.95% per year, accelerating to 2.49% on the 10th year and having an average yield of 2.16%. The starting return already can kick most of the fixed deposit accounts provided by the local banks in Singapore to the curb, as they usually offer a 0.5% interest rate for a 6 months~ 24 months timespan. Not only that, the added advantage you can draw out your SSB principal almost any time after you put in, principal guaranteed, is a free insurance stamp of approval by one of the world's strongest governments in the debt repayment department. Can't get any better than that! SSBs website: http://www.sgs.gov.sg/savingsbonds/Your-SSB/This-months-bond.aspx Fixed Deposits scanner: https://www.imoney.sg/fixed-deposit Note: The Fixed deposits are per annum - meaning that the interest rate displayed is not the actual return you will get if you are getting a FD of less than 1 year. so always be careful of big numbers, they tend to be hiding something the more attractive it is! Example: CIMB FD account of 1.75% p.a for 6 months =/= 1.75% returns on investment!
  • Asked by Anonymous

    Thanh Dat
    Thanh Dat
    Level 3. Wonderkid
    Answered on 19 Mar 2019
    Hi members, i recently went to OCBC to opened up my son kid savings account :) of $530+. I saw this cardboard on the counter showing fresh fund minimum $20,000 for 1.75% p.a. The saying...Sad to say (The rich get richer. The poor will get poorest). unless you are really struggling to save bit by bit for years for this minimum funds. How many of us will be able to save this amount of moneys and how long will it take. It took me from 2012 to last year 2018 save up to $11,000 (7 years) with $200 set aside every month with beginning 1st year $100 monthly. Last month i saw Maybank offer a little better with $20,000 for 2.05%. With smaller fund I feel SSB is still better than parking your extra funds in your original savings account. For me personally I'm placing any as my wife is from Vietnam. I be flying there to place a fix deposit for 7.8% p.a. if not given a options SSB is still better than bank offer.
  • Asked by Anonymous

    Christopher Tan
    Christopher Tan, Executive Director at MoneyOwl Private limited
    Level 6. Master
    Answered on 26 Jan 2019
    Hi anonymous, thanks for your question and sorry for the late reply. I will not repeat the answers given by other members below as they have done a great job. I would only like to add that if you qualify for higher interest accounts such as DBS Multiplier, OUB One or OCBC 360, these accounts give you a higher interest than the accounts you mentioned (say 3.5% p.a.). So you may want to explore them. Have a blessed weekend!
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered on 23 Jan 2019
    For me i would be abit more adventourous and train myself to become a very basic dividends fund manager. one example would be creating a very simple portfolio of a REIT companies in sg which is diversified enough In different industries. this returns around 7-9% dividends pa
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