Saturday, June 07, 2008

AUD Fixed Deposits

I searched the Internet to find out the interest rate on 3 month fixed deposit offered by various banks in Singapore.

        Small    Large
       deposit   deposit
ICICI   8.29%    8.34%
ANZ     7.58%    7.58%
RHB     7.3%     7.3%
DBS     6.99%    7.21%
UOB     6.38%    6.58%
HSBC    6.2%     6.5%


Note: Large deposit is usually for SGD 200,000 or more. But it differs according to the bank.

Tip: Source the internet to get an idea about the interest rate offered by the bank on the deposit. Usually, 3 month is a good period to invest, unless you wish to take a longer term view. You can convert your SGD to the foreign currency with a online stockbroker and transfer the foreign currency to the bank that offers the best interest rate.
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3 comments:

  1. TWKJune 08, 2008 12:51 AM

    Dear Mr Tan,

    Can you provide more details on the currency convertion via POEMS online? I could not find the relevant info in the POEMS website.

    Thanks,
    Eric

    ReplyDelete
  2. OnecenteachdayJune 09, 2008 6:02 PM

    Dear Mr Tan

    Could you give some examples of these online stockbroker that can allow us to convert our SGD to foreign currency? Are these online stockbroker refers to that of those based in singapore? Am concern about bogus online stockbroker.

    ReplyDelete
  3. Danny WongMay 07, 2010 11:28 AM

    Hi, like to know why I must use a stockroker? Can I just bring my S$ to bank for foreign fixed Desposit?

    ReplyDelete