Wednesday 8th Feb 2012 02:02 PM
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Fri, 04/04/2008 - 01:18
Hi,
Was looking through the web and i saw this website -http://www.fairpriceplus.com/savings/savings.shtm. The 1% pa seems attractive and no minimum monthly balance to maintain. Considering the fact that Standchart & Isavvy's interest rate keep falling, I wonder if this is a good saving plan?
It seems like a good account to have...
but currently most of my savings are transferred to fundsupermarts' cash fund, earning me a 1.4% interest, besides having a min of 5k inside Maybank's iSavvy account.
But when the interest in the cash fund drops to 1% again, then I will reconsider all options again.
Hi Vic,
You could refer to Qotion's listing of the various savings interest rates by Singapore banks and finance institution at http://www.qotion.sg/product/savings. Theres two savings plan offered by Fairprice and Standard Chartered with only $1 Minimun deposit. However the Standard Chartered Esaver Kids is only applicable to as the name says kids.
Looking for purely a savings plans, Fairprice gives a better interest rate. As mentioned by qwerty123, he has shifted his funds to fundsupermarts' cash fund earning him a 1.4%. You might want to consider that option.
Furthermore theres no minimum deposit required except that $1, u got to put it that bare mimumum, no monthly balance to maintain and no monthly fees.
Cheers
Other than fundsupermart's cash fund, you may want to consider other money market funds (eg. Lion Capital Money Market Funds).
I have been hearing about money market funds recently. Not really sure what is it actually..?
Hi Vic84,
Money Market Instruments usually refer to:
Example of Instruments:
Hope this will give you some ideas. Usually they are used by
Government, Banks, Institution and High networth investors.
There are innovative Financial Institution offering Treasury Bills
to small Investors.
Wow... thanks alot for this info! Joining this Qotion is great. I really know more and certainly learn more =P
Dennis is right.
Money market fund are basically mutual funds that consists of short term debt instruments.
These instruments are generally low risk securities that pays a dividend.
Jag
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"The point is, ladies and gentleman, that greed - for lack of a better word - is good..."
Gordon Gecko, "Wall Street", 1987
I also have this card, and for me personally, i just parked some money inside so that i dun need to join the long queue of posb atms ... :p
HAHA
True true, sometimes queuing at POSB ATM makes you want to pull out your hair in frustration, so long queue and some people in front of you dun know what they are doing, ma chiam like playing with the ATM, put in and pull out the card...Sometimes buay tahan.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Hi All,
With the falling FD rates ( less than 1%), was considering putting money into Cash Fund or Money Market fund. Can someone enlighten me on how it works? Is it like unit trust and how does the interest component works?
Thanks.
Money market funds work like mutual fund. Or unit trust as they call it here.
It is also known as principal stability funds. The aim - to preserve capital and have modest returns through dividends. Mainly to limit risk exposure.
These funds usually invest in short term (one day to one year) debt securities like treasury bills and certificates of deposit.
If you are looking at money market funds, you can find out more at DollarDex.
Jag
==================================
"The point is, ladies and gentleman, that greed - for lack of a better word - is good..."
Gordon Gecko, "Wall Street", 1987
for cash fund, can look at fundsupermart... if more than $10k they send u a free magazine every quarterly :P
i parked all my è€å©†æœ¬ there :p
i park my money in maybank isavvy account...
i think it's high time that I shift some of my money into the cash fund...although the interest rates doesn't look promising either...
i parked all my è€å©†æœ¬ there :p
Dun you think cash fund is moving kind of slow --->> tortise? or snail?
---------------------------------------------------------------------------------------- Contest theory: More entries = More chances - Concept of Probability. Time & Tide waits for no Man.
its ok.. marriage no where in sight for me yet.. hahaha
going to close my uob acct
dun mind checking this out
will KIV
its ok.. marriage no where in sight for me yet.. hahaha
HAHAHA, u know the bigger the amount the better in the future for marriage as u know...wedding is really a killer... wipe out my savings.... nearly wanted to faint ... lucky still got bread ...if not eat grass liao ..
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i parked all my è€å©†æœ¬ there :p
Hihi,
I opened this cashfund a couple of mths back. Despite reading about it in fundsupermart, I still don't quite understand how it all works.
Bascially you just deposit the $ in there to earn the 1.4%? I only sell it when I need the $?
i parked all my è€å©†æœ¬ there :p
Hihi,
I opened this cashfund a couple of mths back. Despite reading about it in fundsupermart, I still don't quite understand how it all works.
Bascially you just deposit the $ in there to earn the 1.4%? I only sell it when I need the $?
it works basically like your bank account. Just submit your purchase order at fundsupermart and after that, make a fund transfer from your bank account that is linked to fundsupermart. When you need the money, just need to submit a sell order in fundsupermart. A few days later, the money will appear in your bank account.
However, the interest is not 1.4% anymore. It's hovering at around 1.08%.
Basically in layman's terms, its a delayed ATM.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
There is another saving account which gives good interest rate. That is the NTUC Thrift, 2%. But the down side, must be a NTUC member (union) and that will cost $9/month. And this NTUC Thrift purpose is to make sure members save hence, its liquidity is not that good compare to other bank like Standard Chartered ESaver. You will need to write to NTUC Thrift with a reason to withdraw money and it might be subject to approval.
still have to subject to approval?
so if i want to withdraw the money, i need to write the reason as "to foot my mother's medical bills", instead of "i want to buy PS3"?
HAHAHAH... Something like that, a white lie :P
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
I came across this as well, but was wondering if being the NTUC member (union) the same as being their insurance member? Coz my brother have an insurance plan with them ages ago, so was wondering if he's entitled to that? And if you have the NTUC Link card, is it also considered as the NTUC member (union)?
I don't think so that by having the NTUC Link card, you are also a NTUC member(union). I think the union thing is additional? I have the fairprice card also consider Link card but i did not receive any info about the union.
Generally for what i know, you need to be a NTUC member in order to get that card... Correct me if i'm wrong.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
I'm not too sure.. I have the card but about the union, i have not receive any letters?
Then u got to call them up and check it out. As from what i know from the application form, you are required to be a NTUC Union member before you can apply for it. So if you get the card, it generally means you are in.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
BTW, how about PhilipCapital? Any comments on this?
Just looking at their website made me feel giddy, too much info making everything too messy.
are there any free gifts when i open it during roadshows?
thinking of opening this account soon...the rates elsewhere seems too pathetic...
thinking of opening this account soon...the rates elsewhere seems too pathetic...
Well, it all depends as this product has been out on the market for quite sometime already. Normally when a product is newly launched, it comes with attractive rates, benefits and freebies but if for a while, then its hard to say or nope whom be a higher possibility.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i think i am opening it within this week.
my other bank is simply too pathetic...i checked my account recently...the amount of interest is not even enough for me to buy a cup of milo from kopitiam...
Hi, any updates?
Have you manage to open this account?
Do u need to sign up as an union member first?
Have you manage to open this account?
Do u need to sign up as an union member first?
i might be going down to tampines mall within this week to open this account since they are having their roadshow there this week.
If you are looking at low risk vehicles with slightly better rates, you can look at singapore givernment treasury bills.
=> https://secure.sgs.gov.sg/apps/goto/?app=dailyPrices
Over the long run, an index fund or ETF is one of the best options out there to consider. It mirrors the market performance, and over the long run, the market usually outperform 99% of the investment vehicles out there.
Jag
==================================
"The point is, ladies and gentleman, that greed - for lack of a better word - is good..."
Gordon Gecko, "Wall Street", 1987
the rates for T-bills are really pathetic now...
hovering around 0.8% only...
Hi Guys & Gals, recently i came across a article about Australian dollars and New Zealand dollars fixed deposits offering about Average 8% return yearly, you all might want to consider that. Much Much higher interest rates but dun get the banks to change for you from Sing dollars to those, they charge quite high rates for doing so, can consider philips ... they are doing it at a lower rate.
Just my two cents worth of advice
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Hi qwerty123, so how is it? open the account already? any feedback?
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Hi qwerty123, so how is it? open the account already? any feedback?
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i don't have the time to open...my weekend was burnt!
Saturday was out to settle some issues at town area...sunday was busy with my friend's wedding...
will update here when i opened it...but definitely not this weekend again as my weekend is booked....haizzz...
Wah...busy busy person...
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
haha..no lah..it's just that for these past few weeks there are alot of things to do....this coming weekend also...hav to be out the whole day from morning till night.....
but probably be free next week, provided nothing spectacular happens...lol
Busy hor but remember to come on this friday gathering okie? i want to see whos my closest competitor...and the current leader for this round ;)
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Busy hor but remember to come on this friday gathering okie? i want to see whos my closest competitor...and the current leader for this round ;)
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
hahahaha
i will be there ;p
cya~
i just checked...hmmm...this account cannot be linked to my ocbc trading account for EPS service...like that means no point opening this account liao...