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Phone Interview on 8world News 8视界新闻
Money Lobang's representative 孙鼎盛 was interviewed in September 2024 for his opinions about the declining Singapore Fixed Deposit Rates, the near term outlook for Fixed Deposits and the alternatives for depositors
Declining Fixed Deposit Rates
The interview revolves around how Singapore Average Fixed Deposit Rates have peaked in the early part of 2023 and have since been on a declining trend with rates dropping below 3% p.a. for the latest fixed deposit rates. This was attributed to rate cut expectations by the Federal reserve in the near future.
Deposit Rates Near Term Outlook
Our representative further elaborates that unless rate cuts actually materialised as expected by the market, rates are likely to stabilize below 3% p.a. in the near term.
Alternatives to Depositors
The interview concluded with a suggestion that depositors who are seeking higher returns for their deposits could resort to alternatives such as Singapore Savings Bonds or explore bank deposit promotions that offer higher returns in return for using more banking products.
These credit cards offer the best cashback for dining anywhere and can be pretty substantial...
With an earn rate of 4 air miles per $1 spendon contactless and online transactions...
SSBs are a type of specially-issued Singapore Government Securities with risk free returns...
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