Dear readers, I just realized a 2.2% per annum return on fixed deposits placed half a year back.
If you could recall my sharing back then, I highlighted how the OCBC HongBao Prosperity Savings account reward depositors placing fresh funds.
The reward was $110 NTUC vouchers for every $10,000 fresh funds placed with OCBC bank.
The minimum holding of the fresh funds placed is six months which effectively translates the returns to an effective 2.2% per annum.
I have received my share of the NTUC vouchers after Chinese New Year this year. Recently, the six-month holding period of the funds with OCBC has lapsed and it means that I could withdraw the funds with no penalty. And perhaps rotate the fresh funds into another fixed deposit offering high returns too.
I encourage readers to diversify some of your portfolio into fixed deposits which could pay returns much better than banks do. Do not deploy a high percentage of your capital into equities as it is risky. Hold more Cash as Cash is King when stocks markets correct.
this year. Recently, the six-month holding period of the funds with OCBC has lapsed and it means that I could withdraw the funds with no penalty. And perhaps rotate the fresh funds into another fixed deposit offering high returns too.
I encourage readers to diversify some of your portfolio into fixed deposits which could pay returns much better than banks do. Do not deploy a high percentage of your capital into equities as it is risky. Hold more Cash as Cash is King when stocks markets correct.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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