Bank in Singapore

[Benzene]

Which bank has the highest fixed deposit rate?

[jpatokal]

Changes all the time, but right now most any bank in Sing will give you 3.2% or so for a one-year deposit, and 5%+ if you couple it with an investment in the Azerbaijani Durian Aggressive Stability and Toenail Growth fund.

[Strong Eagle]

Changes all the time, but right now most any bank in Sing will give you 3.2% or so for a one-year deposit, and 5%+ if you couple it with an investment in the Azerbaijani Durian Aggressive Stability and Toenail Growth fund.

Actually, JP, it is pretty sad that banks are not forced to disclose that you are investing in derivatives... those 'great' deals have to be credit or interest rate swaps.

[Benzene]

If I use my CPF for local bank timed deposit for 12 months, can I withdraw them as cash after 12 months or it goes back to CPF??

[jpatokal]

Actually, JP, it is pretty sad that banks are not forced to disclose that you are investing in derivatives... those 'great' deals have to be credit or interest rate swaps.

In my opinion, anybody who invests in anything they don't understand deserves whatever they get... but it's true that the banks' advertisements for their funds are very misleading to say the least. "8% return guaranteed!" in huge print, and then "..for the first year, that is, but you can't withdraw for 20 years and we give no guarantees whatsoever for the remaining 19, neener neener" in small print on page 17.

[jpatokal]

If I use my CPF for local bank timed deposit for 12 months, can I withdraw them as cash after 12 months or it goes back to CPF??

Eh? CPF is CPF, you're just investing it yourself instead of letting the Garmin do it for you. The only way to get it out is to leave Singapore for good...