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DBS High Notes Lawsuit
A group of more than 200 DBS High Notes 5 investors have commenced legal action against DBS. The group of investors is understood to have lost about S$17 million and are suing for a total refund of their investment money. Yesterday, a legal notice was served on DBS by legal firm Premier Law. The claim […]
DBS and POSB to Cut Savings Interest Rate
Starting from yesterday, interest rates on the savings accounts at both DBS and POSB will be reduced. The interest rate for the first $50k held at PSOB will be cut from 0.25% to 0.125% while DBS Savings Plus account holders will get 0.1% for the first $50k. Rates at other banks are similarly low. For […]
POSB Invest SingGrowth Account
I saw an advertisement for a POSB structured product, the POSB Invest SingGrowth account, in the newspapers the other day. Thought it would be good to highlight and have a look at this product. The POSB Invest SingGrowth account is a 5-year equity-linked structured product that promises a fixed yearly payout with the potential of […]
Beware of Fake Online Banking Sites
Our three local banks – DBS, UOB and OCBC have been the target of scammers/phishers recently. Computer trojan programs installed into infected computers can trick users into revealing their internet banking passwords. The login page looks very similar to the actual one, except are a minor difference. Here’s how the fake DBS login page looks […]
Cheaper Brokerage Fees for Shares
DBS Vickers has recently started a new product that might trigger the next price war in shares brokerage fees. Currently, the commission rates for trading of stocks goes something like this (for trades below $50k): 0.5%, min $40 for broker assisted trades 0.275%, min $25 for online trades For online trades, part of the commission […]