Update on the rates
This is a short post to provide an update to my previous post.
If you refer to my post two days ago on SAVERs – Best Options to maximise your interests, I have mentioned that the rates will likely goes down – hence please locked in your funds for Savers.
In that post, I have presented 4 options:
- DBS Fixed Deposit 5 Months Promotion
- OCBC 4.08% Fixed Deposit Promotion
- CIMB Fixed Deposits
- MoneyOwl WiseSaver
CIMB Fixed Deposits
Among the 4 options above, CIMB Fixed Deposits rate are considered as drastic drop as of now.
Compared the two screenshots below, a drastic drop. Hope that you have locked in after my post two days ago.
Remaining Options
Luckily the other 3 options that I have mentioned in my post two days ago on SAVERs – Best Options to maximise your interests are relatively intact, do grab while stock last.
For the MoneyOwl, just in case that you are not aware, please note that you can setup joint account after you have setup an individual account each. Remember to fund the account with at least $10 so that you can get the free grab referral voucher before the promotion runs out!
Rate Hike
The next FED meeting is coming soon, there will be a rate hike but likely smaller amount. Overall the rate is still high, grab those high interest instruments if you are a saver.
As an investor, I am not optimistic about the market. Currently it feels like a bear rally to me, to suck all people into before massive crash. The earnings will likely be down with economy in dire situation. Stay safe everyone!
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For quick references to these resources, you can see below.
- Ebooks and other useful resources on enhancing productivity (Investment, Excel, Notion etc). Currently most of it are free at this moment (subject to change).
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