I don't understand your explanation of Rising Dragon Savings Promotion. Can you please elaborate further? In their statement, they mentioned like this "one-time cash credit". > you shall be eligible to receive a one-time cash credit (the “Cash Credit”) in the amount as set out below: How does it converted to 1.67% p.a? If I put 100000, I will only get 558$ at the end of earmark period right? Or?
Huat ah! So does it makes people wanna just to max all their funds to these 5 high interest saving account? Think with only 1 salary credit can still do 4: 1. UOB One account
You are wrong. The interest rate is not the best way to look at how much you will get. if you put in 100k in your new UOB stash acct, earmark for 4 months, you will get $558. On top of that, you will get around $250 per month, which will give you $1558 in 4 months. For fixed D, assume 3.5% , you may only get slightly less than 1.2k in 4 months. Also, if you checked all the banks, none of them is offering 4 months long fixed D. In other words, the fixed D interest rate is not guaranteed to be the same after your first 3 months fixed D. If you are comparing on the interest rates and don't mind maturity period of 6 months, then Tbills are clearly better off than fixed D., but Tbill still loses out to the UOB rising dragon promo If you are among the first 100+ customers to sign up for a new UOB stash acct on 1 March, you will get like $20+ as a welcome reward. Check out UOB stash website
You are wrong. Interest rate is not the best method to look at the returns here. If you put in 100k in the new UOB Stash account, earmark it for four months, you will get $558 from the rising dragon promo. In addition, you will also get around $250 per month as interest. In other words, you will get $1558 in the span of four months. Plus, if you open the new UOB Stash account on 1st March 2024, and if you are among the first 100+ customers, you can get at least $20 as a welcome bonus. If you are putting in 100k in fixed D, I assume the interest rate now is less than 3.5%, which gives you nothing more than $1.2k returns after four months. Plus if you have searched all the banks in Singapore, you would need to put in the 100k back after three months to get the one more month of interest. The interest rate may not be the same then. A better option than fixed D would be Tbills, as the yield is slightly higher than fixed D. The latest tbill has a yield of 3.66%, which is much better than the fixed D. But still lose out to UOB rising dragon promo in my humble opinion. What I recommend is: Create a new UOB Stash account (or a new UOB One account if you are spending $500 per month and crediting $1600 salary per month). Go for the UOB rising dragon promo. After the earmarked period is over, use that money to buy TBills.
Not really. With the same amount, I can get 1558 in 4 months from UOB rising dragon + UOB Stash as compared to less than 1200 from fixed deposit. After the 4 months period, I would put in the 100k in Tbill, not the less rewarding fixed deposit
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I don't understand your explanation of Rising Dragon Savings Promotion. Can you please elaborate further?
In their statement, they mentioned like this "one-time cash credit".
> you shall be eligible to receive a one-time cash credit (the “Cash Credit”) in the amount as set out below:
How does it converted to 1.67% p.a? If I put 100000, I will only get 558$ at the end of earmark period right? Or?
$558 for holding $100,000 in 4 months = 1.67% p.a.
Huat ah! So does it makes people wanna just to max all their funds to these 5 high interest saving account?
Think with only 1 salary credit can still do 4:
1. UOB One account
Good Combo, more for people who have multiple $100K to give them options on where to place deposit.
@@HoneyMoneySGprobably 2 x 100k ish enough. The hsbc no need fill up basically spare balance can already
I like to use your link to apply for the webull and hsbc account
Thank you for the support!
@@HoneyMoneySG I am out of country now, can I open them end Feb? Will the criteria change in 2 weeks?
@@purpletulip1688 as long as you apply by 29 Feb. Anyway can open online with Singpass
happy year of the dragon
Happy Chinese New year!
UOB rising dragon is unattractive. Just put $100k into fixed deposit, you will get around 3% p.a compare to 1.67%
You are wrong. The interest rate is not the best way to look at how much you will get.
if you put in 100k in your new UOB stash acct, earmark for 4 months, you will get $558. On top of that, you will get around $250 per month, which will give you $1558 in 4 months. For fixed D, assume 3.5% , you may only get slightly less than 1.2k in 4 months. Also, if you checked all the banks, none of them is offering 4 months long fixed D. In other words, the fixed D interest rate is not guaranteed to be the same after your first 3 months fixed D.
If you are comparing on the interest rates and don't mind maturity period of 6 months, then Tbills are clearly better off than fixed D., but Tbill still loses out to the UOB rising dragon promo
If you are among the first 100+ customers to sign up for a new UOB stash acct on 1 March, you will get like $20+ as a welcome reward. Check out UOB stash website
You are wrong. Interest rate is not the best method to look at the returns here.
If you put in 100k in the new UOB Stash account, earmark it for four months, you will get $558 from the rising dragon promo. In addition, you will also get around $250 per month as interest. In other words, you will get $1558 in the span of four months. Plus, if you open the new UOB Stash account on 1st March 2024, and if you are among the first 100+ customers, you can get at least $20 as a welcome bonus.
If you are putting in 100k in fixed D, I assume the interest rate now is less than 3.5%, which gives you nothing more than $1.2k returns after four months. Plus if you have searched all the banks in Singapore, you would need to put in the 100k back after three months to get the one more month of interest. The interest rate may not be the same then.
A better option than fixed D would be Tbills, as the yield is slightly higher than fixed D. The latest tbill has a yield of 3.66%, which is much better than the fixed D. But still lose out to UOB rising dragon promo in my humble opinion.
What I recommend is: Create a new UOB Stash account (or a new UOB One account if you are spending $500 per month and crediting $1600 salary per month). Go for the UOB rising dragon promo. After the earmarked period is over, use that money to buy TBills.
Not really. With the same amount, I can get 1558 in 4 months from UOB rising dragon + UOB Stash as compared to less than 1200 from fixed deposit. After the 4 months period, I would put in the 100k in Tbill, not the less rewarding fixed deposit