Why Are Singaporeans Queuing Up For Fixed Deposits?
Fixed deposit rates have started to increase with promotional rates as high as 2.6% for one-year tenure. In fact, this has created some news about the long snaking queues at the banks.
In the current environment of rising inflation and interest rates, everything seems to be more expensive (including our mortgage payments for those of us on floating interest rate bank loans). However, one upside is that we can get better interest rates on our savings.
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- HarryCox·2022-09-21Because the stock markets fluctuates too much. It's better to do some fixed deposits1Report
- BruceBryant·2022-09-21If the interest is good I will put the money in the bank too.LikeReport
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- Mivecs·2022-09-20Keep it upLikeReport
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