Life and Finance

Update: I made some changes in the post below, reflecting some of the information that was not written previously and  made existing information clearer. As of 2/7/16.  Good news for us in NS! Other than putting the allowance into other savings accounts that offer meagre interest rates, we have this option now! An option to save for the 2 years or 22 months of service. Introducing the  POSB Save As You Earn  (SAYE) account. I was truly excited for this when I got wind of this. Looking deeper, I made some comparison. I thought the CIMB FastSaver  might serve as a useful comparison as well.  POSB SAYE 1. Saving At the end of 2 years Good for new enlistees who just wants to save a fixed amount every month and not do anything with it until they ORD. It gives fixed deposit rates for small amounts. Note: This works like a 24-month fixed deposit,  so you will lose the 2% cash gift interest if you withdra...

Come 20 June 2016, Singaporeans can check if they are eligible for the GST Voucher 2016 handout!  You can check it here:  GSTVoucher2016 .  On top of the regular GST voucher, there is a one-off Cash Special Payment this year.  I was surprised that I was eligible for it last year even before crossing my 21st birthday.  I'm all hands up for handouts! I hope I am eligible again! Of course, it must be done with consideration for the country's wealth. I'm confident that the government has considered that. The additional one-off voucher (which will costs $280 million) will help Singaporeans a little more this year.  Some personal thoughts I was searching for more info and I came across the article. He quipped that" if we spend some of these in our neighbourhood shops, it will support our local businesses as well! Gratitude for Mr Heng. I read that he was a good MP and his residents liked him. Hope he makes a full recovery and continue ...

After opening a FastSaver account with CIMB 6 months ago, I can say I am a satisfied depositor. I took home a good $10 cash gift. I shared that happiness with my family and friends. Of course, some scoffed at the promotion and interest rate. I tried to convince them. I failed. That's alright. They are happy with POSB. Probably they didn't understand inflation. They didn't think $10 is worth the simple 6 steps process. In this 6 months, the coffee prices increased by another $0.10 at a nearby kopitiam. Just last month, one of my army mates got really interested and opened FastSaver too. He told me about this promotion  for another CIMB account. CIMB StarSaver  is offering 0.8% if you maintain $500 of fresh deposits. I assume the promotion is to get some people to sign up for StarSaver since FastSaver is presumably the better option here to a new depositor with no conditions. I could be wrong on this, though. Do your own analysis. Anyway, he got his interest fr...