Ysc3 Twincharged July 1, 2009 Share July 1, 2009 DBS/POSB has finally decided to half their interest rates to 0.125% so with a savings of $10k, it will only draw $12.50 of interests per year !! and then i still have to pay $2 per month for the cheque book service .... so in th end, $12.50 - ($2 x 12 =) $24, end up i still have to pay the bank for its service instead !!? what can we do now ?? put our money under the pillow instead ? ↡ Advertisement Link to post Share on other sites More sharing options...
RadX Moderator July 1, 2009 Share July 1, 2009 Given up on POSB loooooooong tim ago.....after the DBS merger...... Link to post Share on other sites More sharing options...
Kangadrool Supersonic July 1, 2009 Share July 1, 2009 Try other foreign banks with free cheque books - Citi, RHB. Link to post Share on other sites More sharing options...
Scenic98 Clutched July 1, 2009 Share July 1, 2009 if you are also servicing a mortgage at the same time, suggest get a mortgage plan that earns u the same interest in a current account that you open at the same bank. the interest earn will be used to pay part of the mortgage. so in a big picture sense, u are better off even though u r not "seeing" your money in the deposit "growing". Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 1, 2009 Share July 1, 2009 (edited) why do you think many people buy cars with cash? haha Edited July 1, 2009 by Throttle2 Link to post Share on other sites More sharing options...
Guyver 1st Gear July 1, 2009 Share July 1, 2009 DBS/POSB has finally decided to half their interest rates to 0.125% so with a savings of $10k, it will only draw $12.50 of interests per year !! and then i still have to pay $2 per month for the cheque book service .... so in th end, $12.50 - ($2 x 12 =) $24, end up i still have to pay the bank for its service instead !!? what can we do now ?? put our money under the pillow instead ? Take your $10K, set aside $2K and get a Citibank account .... free cheque book service, unlimited cheques somemore. Balance $8K, do whatever you want. Link to post Share on other sites More sharing options...
inlinesix Hypersonic July 1, 2009 Share July 1, 2009 Go & buy Singapore Government issued bonds. Walk into any local banks & ask. If the staff don't know, see the manager. If the manager don't know, he/she deserves to be fired. The coupon rate for 2 yrs bond is 3.625%. Link to post Share on other sites More sharing options...
Pcslim Neutral Newbie July 1, 2009 Share July 1, 2009 Take your $10K, set aside $2K and get a Citibank account .... free cheque book service, unlimited cheques somemore. Balance $8K, do whatever you want. Sounds great for the citibank account. Any monthly charges? Thanks. Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 1, 2009 Share July 1, 2009 Go & buy Singapore Government issued bonds. Walk into any local banks & ask. If the staff don't know, see the manager. If the manager don't know, he/she deserves to be fired. The coupon rate for 2 yrs bond is 3.625%. bro, coupon may be 3.625%pa but price is above par therefore yield is much much much lower than 3.625% yield is less than 1%pa, my guess. Link to post Share on other sites More sharing options...
Happily1986 5th Gear July 1, 2009 Share July 1, 2009 Go & buy Singapore Government issued bonds. Walk into any local banks & ask. If the staff don't know, see the manager. If the manager don't know, he/she deserves to be fired. The coupon rate for 2 yrs bond is 3.625%. Do they issue bonds with quicker maturity? Link to post Share on other sites More sharing options...
Gearoil 1st Gear July 1, 2009 Share July 1, 2009 DBS/POSB has finally decided to half their interest rates to 0.125% so with a savings of $10k, it will only draw $12.50 of interests per year !! and then i still have to pay $2 per month for the cheque book service .... so in th end, $12.50 - ($2 x 12 =) $24, end up i still have to pay the bank for its service instead !!? what can we do now ?? put our money under the pillow instead ? If ppl depend on this rate for their retirement then they're better off dead! Same for those thinkng that buying Pappies Bond is worth their while! If you don't receive at least 10% above for your investment..to offset current inflation.....then better to keep your money under your pillow! Link to post Share on other sites More sharing options...
Edenboy Neutral Newbie July 1, 2009 Share July 1, 2009 What about Milo Tin Bank????? Just kidding Link to post Share on other sites More sharing options...
Guyver 1st Gear July 1, 2009 Share July 1, 2009 Sounds great for the citibank account. Any monthly charges? Thanks. Yah ... think about 2-3yrs back I am already pissed with POSB/DBS $2/mth charge for the cheque facilities. So found Citibank .... very good. All you have to do is open a Citibank account .... then linked it via internet to your POSB/DBS. Waolah!! No monthly charges .... for mine just maintain a daily average balance of $2K or more can liao .... I'm not sure what is their package now ..... If you are keen, you may PM me .... I'll get my friend to contact you. Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 1, 2009 Share July 1, 2009 i think paying $2 per month is fine. as long as the service is prompt and good. i dont mind. Link to post Share on other sites More sharing options...
Turret Clutched July 1, 2009 Share July 1, 2009 alternatively, u can have those overdraft account like DBS cashline. they offer cheque services and one can ask for free annual fee waiver. IN this way, you can enjoy cheque and free overdraft facilities. if you do not want to pay interest rates for these overdraft account, transfer the monies to the overdraft account first before u write the cheque. Link to post Share on other sites More sharing options...
inlinesix Hypersonic July 1, 2009 Share July 1, 2009 bro, coupon may be 3.625%pa but price is above par therefore yield is much much much lower than 3.625% yield is less than 1%pa, my guess. U r definitely right. That's why my cash is still lying in saving bank earning pennies. If got balls, can go for NZD FD. But it is for long haul. Link to post Share on other sites More sharing options...
Guyver 1st Gear July 1, 2009 Share July 1, 2009 alternatively, u can have those overdraft account like DBS cashline. they offer cheque services and one can ask for free annual fee waiver. IN this way, you can enjoy cheque and free overdraft facilities. if you do not want to pay interest rates for these overdraft account, transfer the monies to the overdraft account first before u write the cheque. Nowadays .... the banks are very stuck up .... die die also don't wanna waive the annual fee. Link to post Share on other sites More sharing options...
Yeshe Turbocharged July 1, 2009 Share July 1, 2009 who really bother about the interest rate the bank offers when u open a savings or current account. the interest they pay u wont make much a difference to your life i just treat my saving or current account as a temporary liquid storage for my funds, interest or no interest who cares. ↡ Advertisement Link to post Share on other sites More sharing options...
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