Bank interest rates DROPPING! Best savings accounts NOW if you have $10,000, $100,000 OR $500,000

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Күн бұрын

Пікірлер: 59

@joshconsultancy 5 ай бұрын

►‌ Follow Josh Tan on Linkedin to read articles and connect professionally lnkd.in/gkfid5nG To see updates and polls, join my TELEGRAM "Josh Tan Investment Official Group" here ►‌ joshtan.link/telegram TRUST BANK - There are sign up bonuses and get a $10 Fairprice E-voucher Referral code - 6FD4XX9Q Note: No referral code for Maribank. I've texted them and there may be promo codes during Shopee live or on Maribank's facebook

@limtc1733 5 ай бұрын

So 7.8% is within a tier. Effective annual interest is 5% previously and now they cut it to 4%. And have to jump through a few hoops including placing 150k with them. I won’t put my money there. I can get 3.8% principal guaranteed with SYFE, 3.75% with StashAway, almost 3.8% with t bills and no hoops. With some risk appetite, 5.2% with USD MMF.

@joshconsultancy 5 ай бұрын

Valid pov

@smouldering 5 ай бұрын

From what I worked out the other day, the one account will give you effectively 4 percent on 150k provided you tick all the boxes. It still seems OK though not as good as what was essentially 5.8 on 100k. I've still not made up my mind what I will do. Syfe is an option for sure, but I don't think they guarantee 3.8 with capital preservation. Which product are you referring to, if I may ask....

@jacksoncwa1386 5 ай бұрын

Maribank allows deposit up to 100k now

@joshconsultancy 5 ай бұрын

Ok noted 👍

@Salty_Biscuitz88 3 ай бұрын

For UOB One $500 spending, do note that it is based on transaction posted date and not the actual transaction date, it will take around 2 or 3 days depending for the processing. So please don’t wait until the last 1 or 2 days of the month to clock the card spending requirement. Do it earlier.

@joshconsultancy 3 ай бұрын

Yes agree

@Xamael666 5 ай бұрын

Hmm probably better to park in MMFs or buy S&P500

@jasonlim4512 5 ай бұрын

deposits and funds prob diff vehicles for diff needs

@toontoon8039 4 ай бұрын

never put your money in OCBC.... too troublesome. you miss your calculation you lose your interest

@joshconsultancy 4 ай бұрын

For the 360 account you mean? The rest of the banks also, if miss calculate

@user-kt7to7pk5t 5 ай бұрын

Hi Josh, thanks for all the excellent videos. Possible to have a talk/discussion on non-US domiciled ETFs (those that monitor s&P 500 and Nasdaq) please

@joshconsultancy 5 ай бұрын

Hi big thank you. Feels like widely mentioned already. Even those that are OA approved like lionglobal infinity. I can better value add on what to think through in terms of portfolio allocation and what to do strategically. Stay tuned 👌🏻

@tankcaz 5 ай бұрын

Is using the UOB bank account with min. $500 card spend with 3 GIRO bill payment feasible?

@joshconsultancy 5 ай бұрын

Its a lower rate

@quekse 19 күн бұрын

Thanks Josh for sharing all the videos. Taking into account that it is now August, would you say that the advice on this video still valid?

@joshconsultancy 19 күн бұрын

The rates will likely drop again soon. Stay tuned, ive an update on this subject really soon

@user-sf5bt8eb4y 5 ай бұрын

dont understand whats all this fuss/headache is about. need to park 100-150k, need to spend, credit etc. not to mention, you are subjected to rate changes at the bank's whim myself simple strategy 1. for liquid savings park inside digital banks(up to 75k) 2. for slightly less liquid but still relatively liquid and safe instrument parked in SSB which on avg gives 3% with no drama/headache. this rate is guaranteed for next 10 years. How confident are you that the banks wont continue to cut rate below 3% over next 10 years? I highly doubt so

@beedeebee179 5 ай бұрын

I left ocbc because of the "save" component, i find it too cumbersome

@joshconsultancy 5 ай бұрын

Thats what they KPI as =)

@黄晨-m1r 5 ай бұрын

When I buy UOB bank share at 2018until now never sale is my good investment

@marinekong235 5 ай бұрын

Try ICBC - no hurdles, no certain amounts, no minimum period.

@joshconsultancy 5 ай бұрын

Oh? Haven’t heard of the offer. Do upvote if popular k 👍

@jc4448 5 ай бұрын

Lol what’s the interest rate

@marinekong235 5 ай бұрын

@@jc4448 optimally is 3.35% min $500 for 3 month

@stylerho6278 5 ай бұрын

What’s the best bank for S$400,000 that is currently idling?

@joshconsultancy 5 ай бұрын

There are a few premier banking solutions. Or t-bills

@Phonedumb 5 ай бұрын

As you mentioned , one wont know when the offered rates woukd be cut or the hoops increased. Unless one has planned use for the funds in the foreseeable future, doesnt seem like a good option to be going for these higher savings rate schemes when there's good longer term options available. Especially when come SA closure.... personally, i think its better to get 1st mover advantage to redeploy the SA funds now, than to wait for the masses to do so... prices/returns might be negatively impacted then, when alot of folks are rushing for the same pieces of pie. Just my thoughts

@joshconsultancy 5 ай бұрын

POV noted. Redeploy into equity markets?

@Phonedumb 5 ай бұрын

If one is good in equities.... then why not? For me, i treat my CPF redeployed funds as a safety net (like hiw i consider the SA funds). The next safe option would be very high grade sovereign or quasi sovereign bonds paying at least what SA pays, and for balance tenure of at least 5 years but preferably much more. This is to emulate aa close to the SA as possible

@learninvestearnsave 5 ай бұрын

Great sharing Josh 🎉

@joshconsultancy 5 ай бұрын

THanks Eric!

@zzy341 5 ай бұрын

What interest rates dropping? My OCBC interest rate for housing loan is not going down leh!

@joshconsultancy 5 ай бұрын

bank accounts bank accounts

@leemarc7069 3 ай бұрын

how about students who have no credited salary

@joshconsultancy 3 ай бұрын

Go with one of the digi banks. Maribanks UX quite good and at 2.88% promotion rate now

@jng6259 5 ай бұрын

heard that OCBC dividend plus acount interest rate already cut to 3.30%..

@joshconsultancy 5 ай бұрын

yes mentioned at the end

@limteckkiat4103 5 ай бұрын

Hi, for a noob like me with 200K ... which bank account should I put in ( currently keeping it in UOB stash acct)

@joshconsultancy 5 ай бұрын

UOB one still remains one of the best or OCBC360 - both need salary crediting

@Salty_Biscuitz88 3 ай бұрын

For the salary credit, just use a DBS account to transfer 1.6K or more to the UOB account and add in remark “SAL”. UOB will recognize it as salary crediting transaction and clocked it to fulfill the salary crediting requirement. I have tried it and it works.