🔑 Key Highlights:
– Several banks in Singapore have updated their fixed deposit (FD) rates, with some offering competitive rates for short-term placements.
– Maybank has revised its rates, with the 6-month FD rate decreasing from 3.45% to 3.25% and the 12-month FD rate remaining unchanged at 2.95%.
– Some users are exploring alternative options, such as Maribank’s 3.5% 3-month FD promotion, although this is only available to selected invitees.
– Competition for high-yield savings accounts continues, with CIMB’s FastSaver account offering 3.3% interest from November to January 2025.
💡 Main Discussion Points:
– Fixed deposit rates in Singapore remain competitive, with users seeking the best rates for their funds.
– Some users are looking for alternatives to Maybank’s revised rates, exploring options like Maribank’s promotion and CIMB’s high-yield savings account.
– Users are also discussing the pros and cons of participating in promotions with limited availability, such as Maribank’s invite-only offer.
– The topic of verification and transparency in promotional mechanics has been raised, with some users expressing frustration at not knowing if they qualify for a promotion.
📋 Important Details:
– Maybank’s Deposit Bundle Promotion and iSAVvy Time Deposit Promotion rates have been revised, effective 1 November 2024.
– Maribank’s 3.5% 3-month FD promotion is available to selected invitees only.
– CIMB’s FastSaver account offers 3.3% interest from November to January 2025 for balances above SGD 5,000.
– SBI Apr T-bills have matured, with users seeking advice on where to place their funds.
💭 Community Insights:
– Users have shared their experiences with participating in promotions with limited availability, highlighting the uncertainty and frustration associated with these types of offers.
– Some users have expressed preference for promotions with clearer mechanics and greater transparency.
– The importance of verifying promotional details before participating has been emphasized.
⚠️ Things to Note:
– Users should carefully check the terms and conditions of any promotion before participating, ensuring they understand the requirements and potential benefits.
– Some promotions may have limited availability or specific requirements, making it essential to verify the details before taking action.
– The fixed deposit landscape in Singapore is constantly evolving, and users should stay informed to make the best decisions for their funds.