Hong Leong Finance Fixed Deposit
Maybank fixed deposit board rates. Minimum of S$10,000 for 1-month tenure and S$1,000 for tenures from 2 to 36 months. HLB FD Promotion - Grow and save your money with Hong Leong Bank's FD promotion in Malaysia. Check the latest fixed deposit and EFD promotion rates here! From 26 February 2021. Get free High Tea Jubilee Set for 2 and enjoy 0.45% p.a.with min. Singapore dollars $200,000 & above for 6 months in Hong Leong Finance Singapore 60th Anniversary Fixed Deposit Jubilee Promotion. Place fresh funds via Paynow. For convenience, you may calculate the interest income with our Fixed Deposit online calculator for this promotion. Hong Leong Finance offers a comprehensive range of products to meet all your financial and business needs.
The next holiday most of us are looking forward to is probably the Christmas Season. In the month of November, banks have launched their Fixed Deposit Christmas Promotion where we can look forward to some attractive interest rates.
List of Fixed Deposit sale events, promotions, price list and other happenings in Singapore. Last updated March 2021 P3W5D Past Event. Earn returns with a minimum sum of $500 in the latest Singapore Savings Bond. OCBC: Earn up to 0.50% p.a. With 12 mths time deposit from 5.
For those who has a lump sum of cash and can afford to lock down the money for 12 months or more, I certainly do recommend placing the money into fixed deposits as compared to the Singapore Savings Bonds. The reason is that for a short term period of 12 months, the interest rate for Singapore Savings Bonds has fell tremendously to 1.56% (Read more: December 2019 Singapore Savings Bonds is 1.71%)
Maybank is a clear winner here with interest rate of 1.88% for a 12 months placement. CIMB Bank is in the second place with their Fast Fixed Deposit Christmas Promotion interest rate of 1.80% p.a.
CIMB Fast Fixed Deposit Christmas Promotion
Interest rate: 1.80%, Minimum Placement: S$10,000, Promotion Valid Until: 30th November 2019
The total interest that you will receive if you place S$20,000 for 12 months is S$360.
Hong Leong Finance Fixed Deposit
Interest Rate: 1.73%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
Hong Leong Finance seems to have increased their interest rate for S$50,000 to less than S$100,000 deposit for a 12 month period from 1.75% to 1.80%.
The total interest that you will receive if you place S$20,000 for 12 months is S$346.
Standard Chartered Bank (Singapore) Time Deposit
Interest Rate: 1.60%, Minimum Placement: S$25,000, Promotion Valid Until: 30th Npvember 2019
The total interest that you will receive if you place S$25,000 for 9 months is S$300.
MayBank Singapore Dollar Time Deposit
Interest Rate: 1.88%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
The total interest that you will receive if you place S$20,000 for 12 months is S$376.00. However, there are some catch should you choose to place your fixed deposit with MayBank
- You need to have a MayBank Current or Savings account.
- For every S$1,000 deposited into the CASA Account, S$10,000 can be placed into the Singapore Dollar Time Deposit, subject to a minimum of S$20,000 in Time Deposit and the corresponding minimum deposit of S$2,000 in the CASA Account.
What can you invest with 500 dollars? For working adults like us, it is not a feat to folk out a minimum of 5K for a fixed deposit placement. If you have a higher risk appetite, you can invest 5K into stocks or bonds.
What about those that just started out working? Their starting monthly salary is usually lower than 5K. In my opinion, setting aside the minimum amount of S$500 is a good way to get started to grow your savings. If you will like to grow your S$500, below are some of the options that I found.
ICBC Fixed Deposit
Needless to explain, fixed deposits are simple to understand. You lock in your cash with the bank for a fixed time period such as 1, 3, 6, 12 months. Upon maturity, you get back your money with the interests earned.
ICBC is one bank or perhaps the only bank that I found that let you do a fixed deposit placement with only a minimum of S$500.
Based on the above rates, if you decided to do a 12 months fixed deposit placement of S$500 via E-Banking, the interests you will receive upon maturity is S$3.75.
Hong Leong Fixed Deposit Promotion
Singapore Savings Bonds
The next option to consider is the Singapore Savings Bonds. The minimum amount is S$500 but you have to pay an administrative fee of S$2 every time you make a purchase of the Singapore Savings Bonds.
The latest issue of the Singapore Savings Bonds (GX20120T) offers you an effective return of 0.24% p.a. if you held it for 1 year. That is a return of S$1.20.
Not too bad already, S$1.20 can buy you a cup of Kopi at the coffee shops.
GIGANTIC or Singlife Account
GIGANTIQ is a single premium, yearly renewable, non-participating universal life plan by Etiqa that gives you a guaranteed return of 2.0% per annum on your first S$10,000 for the first year. Any amount above S$10,000 earns you 1.0% per annum for the first year. The minimum amount to get started is S$50. For S$500 deposited with GIGANTIC for 1 year, the return you will receive is S$10.
Similarly, Singlife is a capital guaranteed insurance savings plan that gives up to 2% p.a. returns. The minimum amount to get started is S$500. For S$500 deposited with Singlife for 1 year, the return you will receive is S$10.
Hong Leong Finance Fixed Deposit Promotion
Syfe
If you have a higher risk appetite, you can choose to explore Syfe.
Hong Leong Finance Fixed Deposit Rate August 2020
Syfe is a digital wealth manager licensed by the Monetary Authority of Singapore (“MAS”) under a Capital Markets Services (“CMS”) License.
There is no minimum amount to start investing in any of their portfolios.
I hope the above provide enough options for those that can only set aside S$500 but do not know where to get started.
Hong Leong Finance Fixed Deposit Rates
“If you don’t find a way to make money while you sleep, you will work until you die. – Warren Buffet”