Category Archives for Savings
Fraudulent Withdrawals from DBS Accounts
More than $200,000 were illegally withdrawn from some DBS customers this year from ATMs located in Malaysia. Apparently, someone has managed to clone the ATM card details (including the passwords) and made the withdrawals from Malaysia using the cloned cards. Currently, there are about 200 customers affected with an average withdrawal of $1000 per account. […]
Esaver Topup Bonus Promotion
I received a mailer from Standard Chartered Bank (SCB) on a promotion of higher interest rates for incremental topups into my E$saver Account. Deposit balance less than $50,000 Current rate 0.10% p.a. Bonus rate 0.408% p.a. Total interest on topup 0.508% p.a. Deposit balance $50,000 to $200,000 Current rate 0.20% p.a. Bonus rate 0.508% p.a. […]
Closure of finatiQ
FinatiQ was set up by OCBC Bank in 2000 as Singapore’s first online-only bank account. Back then, it offered superior interest rates compared to normal savings account. I remembered enjoying rates of about 3% on my funds in the account. You could also buy unit trusts online via the platform although somehow, this aspect didn’t […]
DBS Launches Yuan Products
Following in the footsteps of HSBC, DBS has launched a series of Renminbi products to cater for the demand for the Chinese currency. These include fixed deposits and currency-linked investments. Interestingly, DBS has emphasised on the risks of investing in their Yuan product. The offshore yuan (CNH) is actually less liquid compared to the onshore […]
HSBC Renminbi Fixed Deposit
HSBS has started offering fixed deposits in Renminbi available to retail customers. For a one year term, the interest rates ranges from 0.28% (5 mil CNY) depending on the amount. You can check the latest rate at the HSBC foreign currency fixed deposit page. The Advance and Premier customers of HSBC would enjoy a higher […]