Which bank to dump my savings into?
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Hi SGF!
I do not know a suitable forum to post this question to . so....
Bank savings interest rate is extremely low nowadays.
Which bank, local or foreign, offers the highest savings interest rate?
I like to know and start withdrawing almost all of my savings from one bank to another. I believe that if a bank offers lower interest rate, money should not be put there and money should be withdrawn and dumped into other banks offering higher interest rate.
If everyone do what I do, banks will become more competitive.
I just hope they all dun karkat together....aiyo, I just kidding nia. Doon wanna get into trouble with rich people who could afford expensive lawyers.
I am thinking of Citibank. Any advice?
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for lowest risk, put ur savings in OCBC ......
American banks can go bust overnight ......
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with inflation at 7%, u r losing "real" money regardless of which bank u put in.
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Ferret's Bank
150% return. in 100 years
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Citibank wont go down. US govt wont allow that to happen.
How bout stanchart? Do you prefer liquidity or high i/r?
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RHB la. serious.
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RHB i/r high lehs. Dun pray pray.
Best to take loan from them though.
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tats why everytime i say RHB everyone give me the "can you stop joking" face
.i told them i am very serious already.
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im a cb spammer
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UYP bank
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unless u have more than $50,000 to save, else it doesnt really make a diff which bank u choose. hahar.
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agree with carpe. Bank should be used for emergency fund. The rest of the money should be invested so you do not lose out to inflation.
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Originally posted by balance_else_complacent:
Hi SGF!
I do not know a suitable forum to post this question to . so....
Bank savings interest rate is extremely low nowadays.
Which bank, local or foreign, offers the highest savings interest rate?
I like to know and start withdrawing almost all of my savings from one bank to another. I believe that if a bank offers lower interest rate, money should not be put there and money should be withdrawn and dumped into other banks offering higher interest rate.
If everyone do what I do, banks will become more competitive.
I just hope they all dun karkat together....aiyo, I just kidding nia. Doon wanna get into trouble with rich people who could afford expensive lawyers.
I am thinking of Citibank. Any advice?
Carp diem is erm... kindda right about that. For savings account, most banks offer the same interest rates. They probably differ by + or - 0.01. Unless you're talking about a huge sum, it wouldn't be making that much of a difference. If it's a huge sum, I think you can explore citibank's step up interest account. But then again if it is enough for you to consider interest rates, might as well invest in mutual funds and bonds instead?
You also might want to consider the services these banks offer. Citibank is a convenient choice but I really don't think much of their service standards. Internet banking interface is a pain, they take a long time to process application and everything else. I prefer UOB and standard chartered to citibank and DBS.
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Originally posted by methanol:
Carp diem is erm... kindda right about that. For savings account, most banks offer the same interest rates. They probably differ by + or - 0.01. Unless you're talking about a huge sum, it wouldn't be making that much of a difference. If it's a huge sum, I think you can explore citibank's step up interest account. But then again if it is enough for you to consider interest rates, might as well invest in mutual funds and bonds instead?
You also might want to consider the services these banks offer. Citibank is a convenient choice but I really don't think much of their service standards. Internet banking interface is a pain, they take a long time to process application and everything else. I prefer UOB and standard chartered to citibank and DBS.
fark citibank step up interest account.
when i signed, they promised 2% interest when ur balance reach a certain amount.
after a few mths, they send me a letter stating tat they r lowering the interest rate.
bloody hell.
can suka suka like tat one ah?
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Originally posted by monoslayer:
fark citibank step up interest account.
when i signed, they promised 2% interest when ur balance reach a certain amount.
after a few mths, they send me a letter stating tat they r lowering the interest rate.
bloody hell.
can suka suka like tat one ah?
Yeah they indemnified themselves. "Banks reserves the right to readjust interest rates." Haha.
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Go for OCBC-NTUC account, that is the highest interest rate so far. Go to OCBC bank and get more information. I start my too when i fet to know about it. Remember is OCBC-NTUC not OCBC saving account
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if u dare den put foreign currency like NZD / AUD which offers high interest rate... now it is @ a low rate so on top of interest u may earn fr forex when the currency appreciates...
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Originally posted by Ferret:
Ferret's Bank
150% return. in 100 years
Evangel's Bank
300% return. in 300 years
Ferret, my returns 300%, 2x more than yours, people come, put your money in my bank.
So...who has higher returns?
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mine's faster lah.
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all my savings in Calyon (CIB)...not bad..should bank with them
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Originally posted by Chunseah:
Go for OCBC-NTUC account, that is the highest interest rate so far. Go to OCBC bank and get more information. I start my too when i fet to know about it. Remember is OCBC-NTUC not OCBC saving account
go to ntuc to get e application form..not at ocbc bank...its just a tie up acct w ocbc but its handled by ntuc..
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just wanted to add ...the ntuc-ocbc savings account has no passbook one. this means everything has to be done online. some pple find it a hassle so u might want to know this in advance.
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doesnt really matter. the one with the nearest atm to you.
you'd be losing money with inflation on all banks.