Dear readers, if you are a keen watcher on Singapore Fixed Deposits interest scene, you would have noted that the fixed deposit interest rates from banks and financial institutions have now become reduced.
A number of banks are offering fixed deposit interest rates of below 3.5% per annum; only a handful of banks are offering interest rates over 3.5% per annum.
What if you are able to grow your monies at higher interest rates? At 4.3% per annum to be exact and with no-lock in period?
Well, PhilipCapital’s SMART PARK is offering a good interest rate promotion for your monies at 4.3% per annum, more details here.
This 4.3% per annum interest is made up of the usual rate of SMART PARK at around 2.83% per annum plus an additional interest rate of 1.5% over and above the SMART PARK rates. The special interest promotion is valid from 17 Apr 23 to 16 Jun 23.
However, one important point to take note if you are interested in this interest promotion from Phillip is that the additional interest rate of 1.5% (total 4.3%) is only available to the first S$10,000 of the capital and remainder of the capital will earn the usual 2.83% per annum SMART PARK interest.
Well, to make the full use of this promotion: there are two ways:
First, park just $10,000 capital to enjoy the 4.3% per annum interest rate while deploying the remaining of your capital to other fixed deposits offering interests higher than 2.83%.
Or, park $20,000 capital to enjoy the average of 4.3% and 2.83% interest rates i.e. at 3.57% per annum.
Just my humble two cents worth of comments to earn higher interests to offset high cost of living in this high-interest environment!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!