6m “Fix Deposit” – 2.08%pa

came across this DBS/POSB promo..  all you need is to fulfill $4800 for 6months. which is not exactly difficult to hit…

base on my calculation, it is 2.08% pa. which is as good as it gets in current FD markets. most of the banks gives you 2%, but you need to be priority banking member or higher tier, with a min 6-digit outlay for 9-12 months.

the best thing is that everything is done online, and the deduction is automated too. so there is no need to dropby the branch. takes you 10min, or 15min max, to set everything up.

to some, $50 may not be much, but hey, in this economic climate. every cent counts. 50 buckeroos can buy a weeks worth of groceries?

dbs50

 

 

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14 thoughts on “6m “Fix Deposit” – 2.08%pa

    1. B,

      unfortunately, $4800 is the max. it is actually more of a savings plan , rather than FD. thats why i put it in quotes..

      there is a few criteria to get the $50 bucks. but its not difficult at all.

      after 6m, just close acct, and transfer the monies back to the warchest.

      i wish it could be more too…haha..
      another way, is to use your wife/kids/grandparents/etc etc account…

      Like

      1. Hi its the same promotion. instead of putting $3,000, credit your salary and then deposit $300 every month to get $50, you get only 2.08% as per your calculation

        Instead, why not just deposit every month into eMSA to get $20. Using your calculation, the returns is 2.22% More bang for the buck

        Like

  1. So tempting! I parked my emergency cash in Ocbc Frank but even in the 12 months, the accumulated interest will not be even close enough to this promotion. Guess I’ll park back at POSB for this 6 months.

    Came across another blogger posting about this earlier but I forgot it. Thanks for the reminder!

    K.

    Like

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