Wednesday, April 8, 2009

Move Funds to Earn Higher Interests!

So disappointed with DBS for dropping the interest rate for Mysavings Account to 0.60%. No use being a Treasures Priority Banking (TPB) Customer liao! Also lose the 1% interest! So moving my funds to another Bank which can offer me more than 1% p.a. Interest on Fixed Deposit (ha ha joint account with senior citizen lor!). Better to lock in the interest rate! Also must remember to withdraw from TPB, otherwise a monthly fee will be charged!

And must remember to transfer all funds in the CPF Investment Account back to CPF fast. Interest with CPF is so much higher than keeping the funds in the CPF Investment Account! Wow, did not know can do it via ATM now. If not, the bank will only do it for you 2 months later if your CPF Investment Account is inactive. Wah, that is a lot of interest loss!

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