CPF “How % determined” website: OCBC fixed deposit 0.1% – yahoonews 2.6%?

TOPICS:Interest rate

Photo by Memyjo

Photo by Memyjo

December 6, 2022

CPF “How % determined” website: OCBC fixed deposit 0.1% – yahoonews 2.6%?

According to the CPF website – “Average banks’ interest rate from August 2022 to October 2022 0.21% (see note)

CPF OA interest rate for January 2023 to March 2023 2.50% per annum (legislated minimum rate)”

https://www.cpf.gov.sg/member/faq/growing-your-savings/cpf-interest-rates/how-are-cpf-interest-rates-determined

You can see in the screenshot that the “12-month deposit rate (% per annum) 31 Oct 2022” is DBS 0.0500 OCBC 0.1000 UOB 1.5000

In this connection, according to the yahoonews article dated 4 Oct 2022 – the fixed deposit rates were DBS 1.7% (18 months) OCBC 2.6% (12 months) UOB 3.0% (15 months)?

https://sg.news.yahoo.com/7-best-fixed-deposit-rates-025123526.html

As the yahoonews article was dated 4 Oct 2022 – the rates at 31 Oct may possibly be even higher?

https://www.facebook.com/laoliang/posts/pfbid0D9U2RntPD7ydmq3qALmV9wrHXvUHubAKVRwVyfacYJBGSiJFWzaheHLSk3JMg8sNl

About the Author

Leong

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications.