can explain bank "fixed deposit" to me?
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please
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go to www.fundsupermart.com and deposit yr money there better than fixed deposit
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Fixed Deposit is when U lend an fixed amount of money to the Bank for an fixed amount of Time.... In return, the Bank pays u interest for the Money U lent to the Bank....
this is such a Joke to me as U are the lender, but u dun get to state the percentage of interest u get... The borrower in this case does....
Just ask urself... what will the Bank be doing when they get your money and at the end of the stated period.... they're able to return u ur Money + interest promised... wat r the benefits they get? In this case... are u shortchanged...?? 
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banks are evil. only old people think that banks are good. help you save money and earn interest.
actually, you are lending your money to them. and why you borrow money from them they charge you so high interest? and when you lend them money they pay you so little interest?
somemore part of your borrowed money are your money.
its like lending them money to lend you money and in return you still pay them more money. -
many pple jus dun know wat to do wif their money then they lend to bank lor. if u lend to others yrself and charge interest, you become unlicensed Ah Long u noe.
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banks use our money deposited to invest in anything and also lend to others. they gat back very very much more than what they give us back in return.
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You are free to choose where you want to place your money.
I agree it is stupid that while we're the lender, we don't have a say in the interest rate. But we can choose NOT to put our money in the banks if we have other better options.
If the consumer is not savvy enough about other investment instruments, then his/her choices are limited and I say "too bad". In this case, be happy enough you're getting returns for placing your money somewhere.
But putting fixed deposit is not so bad after all - it's almost completely risk-free, hassle-free. -
i used to put all my money in the fixed deposit. now i diverted all to saving investment insurance plan. at least the returns are higher.
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Invest in Futures...need help can pm me..
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futures oo risky liao. prefer medium risk medium gain better.Originally posted by Master -_-:Invest in Futures...need help can pm me.. 
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i not greedy, got any no-risk low-return investments?
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i hope nobody invests in ILPs
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what is ILPs? i know IPOOriginally posted by Master -_-:i hope nobody invests in ILPs -
Investment Linked ProductOriginally posted by jacqn:what is ILPs? i know IPO -
that means u deposit a sum of money, usually in thousands la.. to the bank. then the bank will pay u interest for that FIXED period of time that u put ur money with them. If u withdraw the FD before maturity, then ur interest might be forfeited lor.
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Not only interest... will eat into ur principal oso...Originally posted by browniebaobao:that means u deposit a sum of money, usually in thousands la.. to the bank. then the bank will pay u interest for that FIXED period of time that u put ur money with them. If u withdraw the FD before maturity, then ur interest might be forfeited lor. -
i got back the prinicpal amount ah. thought only interest being eaten?
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Eh.. any good investment plans? I got arnd 10k in POSB AND WTF THE INTEREST IS LIKE 0.000000000000000000001%?!?!?
ROAR!!!! -
Basically it's an account to provide a higher percentage of interest, some banks might even offer incentive for the fixed account customers.
And when you need to withdraw some money for say a family emergency, you can cry till the heavens fall the bank also wont let you -
A sum of money is freezed for a period of time and you receive higher interest.
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Fixed deposit in simple term means you deposit a certain amount of $$ with a bank for a fixed period and get a higher interest in return...
For more inforamtion please refer to:
[/url]www.uob.com.sg
www.ocbc.org.sg
www.dbs.com.sg -
why so?Originally posted by Master -_-:i hope nobody invests in ILPs