Saturday, January 24, 2015

POSB did it again!

Not long after the 1.5%, 6 months (cap of 20k) exercise that I blogged about here, they came up with another bigger amount and longer tenure.


This current one is 1.88% pa for 12 months, with a minimum amount of $1k to a max of $1 million. In addition, there's also a $88 ang bao for the first 10,000 customers. The details are all found in their website here. The full terms and conditions is found here.




To qualify, you need:

1. Register by 28th Feb 2015 (inclusive of date) here.
2. Complete the top up by 28th Feb 2015 (min $1k, in multiples of 1k up to a max of 1 mil)
3. Maintain top up amount for 12 months.


As usual, they wanted fresh funds, so just do the necessary FAST credit transfer between banks. The cash gift will be deposited to the account registered by 31st Jan 2016. As for the first 10,000 customers who will receive additional $88, they will get their ang bao in their accounts by 31st March 2015.


I won't be participating in this one. I don't think I'll have enough liquidity to do this. I still have 20k stuck in the previous exercise by POSB until July. Good for those who are holding emergency cash. This is really a good deal and possibly the highest fixed deposit rate offered by any banks here. Awaiting other competitors to top this :)

6 comments :

K said...

Hi, I transfered $20k in the last placement but did not receive any kind of acknowledgementioned. Did you?

la papillion said...

Hi K,

There's no acknowledgement at all. But if you did it correctly, you'll know in 6 months time LOL

K said...

Hi LP,

Just noticed something interesting.. you do not have to deposit $$ until 28Feb2015 but interest is calculated based on 1Feb2015 to 31Jan2016. See clause 6 (http://www.posb.com.sg/iwov-resources/pdf/bank/promotions/savings-promo/tnc_savingpromo.pdf)

You can 1 month of "free interest"? :)

Chan Yuan said...
This comment has been removed by the author.
la papillion said...

Hi K,

Haha like that you also noticed! But if u deposit early and be the first 10k customers, you can earn 88 dollars extra, so maybe pple won't delay until 28th Feb.

But small money lah ;)

K said...
This comment has been removed by the author.