SIA Retail Bond 2019 - To buy or not to buy

Singapore Airlines will be releasing S$500 million worth of bonds

S$300 million to the public and the rest to institutional investors.

Should the SIA Retail Bond 2019 be oversubscribed, they will extend the tranche to up to S$750 million.

Coupon Rate	3.03% p.a.
Tenor/ Duration	5 years
Coupon Payment	Semi-annually
Application Fee	S$2
Min. Amount	S$1,000 and in multiples of S$1,000 thereof
Issue Date	28 March 2019
Maturity Date	28 March 2024, or earlier if sold in the secondary market on SGX
Application Period	Opens: 20 Mar 2019 (Wed), 9am Closes: 26 Mar 2019 (Tue), 12pm
Public Offer	S$300 million
Bond Type	Unsecured Bond
Use of CPF/ SRS Funds	Not applicable

Personal opinion: Not worth the risk.

Singapore Savings Bonds (SSB) future rates estimation

Chanced upon this website which provide estimation of next month's Singapore Savings Bonds rates to help you decide if you should buy the current SSB issue or wait for better rates.

http://isimplicity.tk/ssb/

Use it at your own risk!

Individual limit on Singapore Savings Bonds doubled to $200k, allow use of SRS funds!

1) The maximum amount of Singapore Savings Bonds (SSB) that an individual can hold will be raised to S$200,000 from the current S$100,000

2) Investors are allowed to buy the instruments using their Supplementary Retirement Scheme (SRS) funds

Both changes will take effect from Feb 1, 2019.

So, please don't leave your SRS funds idle! Use it to buy SSB (which is risk-free investment) if you have no intention to invest it elsewhere.


Note:
There is a SRS contribution cap of S$15,300 per year for Singaporeans and permanent residents (PR), and S$35,700 for foreigners

How to activate your CIMB credit card for overseas usage

1. Login on CIMB Clicks Internet Banking
2. Under the Credit Cards -> Activate Magnetic Stripe for Overseas Use

UOB One Account

This is for my own info:


1. Total card spend $500
2. 3 Giro transactions
3. $75K in OUB one account

= 2.43% p.a.

Maybank iSAVvy savings account - up to 1.90% p.a.(till 31 Dec 2018)

This Promotion is available from 1 July 2018 to 31 December 2018

Maybank iSAVvy savings account is an online savings account.

More info here

CIMB - 1.9% p.a. promotion till 30 Nov 2018

Get 1.90%* p.a. on CIMB's SGD Fixed Deposit from now to 30 November 2018! Did you know that with our CIMB Why Wait Fixed Deposit-i, you can collect your profit, upfront without waiting for your deposits to mature?

What's more, min. placement is only S$10,000, it's all done online and takes only 10 mins. To apply, visit www.cimbbank.com.sg/whywaitfdi-promo

*T&Cs apply. Insured up to S$50k by SDIC.

DBS Multiplier Account FAQ (for my own info)

The below key information is extracted from the official DBS Multiplier Account FAQ for my own reference.


Fall-below fee $5 for Average daily balance of <S$3,000


Do I have to move my existing banking transactions in other DBS/POSB accounts to the Multiplier Account to enjoy the higher interest rates?

That is not necessary. Once you open your Multiplier Account, your eligible transactions will be tracked across the different products you hold with us. 


When will I receive my interest?

Base interest - Last calendar day of each month
Preferential interest  (if any) - 7th working day of the following month


To get high interest rate :
Up to 2.08% p.a. if your Salary Credit and transactions in 1 category adds up to S$2,000 or more • Up to 3.5% p.a. if your Salary Credit and transactions in 2 or more categories adds up to S$2,000 or more


My salary is credited into a joint account. My joint account holder also credits his salary into the same joint account and we each have our own Multiplier Accounts. What’s the salary credit amount recognised for me then?
It is the total amount of eligible salary credits in that joint account.  Example: John and Mary credit their salaries (S$3000 and S$3100 respectively) into a joint DBS eMCA account. They have their own Multiplier accounts too. They are each accorded a total salary credit amount of S$6,100.


My joint account holder and I credit our dividends from Central Depository (CDP) into a joint account. We both have our own Multiplier accounts. How will the dividends be recognised? The combined total dividend credits in that joint account will be recognised. 
Example: Michael and Sally have CDP dividend credits (S$800 and S$700 respectively) in a joint DBS account. They both have their own Multiplier Accounts. They are each accorded a total dividend credit amount of S$1,500

Changes to OCBC 360 from 1 November 2018 onwards in a nutshell

Salary Crediting: First $70,000 earns an effective interest rate of 1.35% p.a.
Detailed breakdown:
- First $35,000 earns 1.2%
- Next $35,000 earns 1.5% p.a.

Credit Card Spend: First $70,000 earns an effective interest rate of 0.45% p.a.
Detailed breakdown:
- First $35,000 earns 0.3%
- Next $35,000 earns 0.6% p.a.
Subject to minimum spend of $500 per month has been met

*Step-up Bonus: First $70,000 earns an effective interest rate of 0.45% p.a.
Detailed breakdown:
- First $35,000 earns 0.3%
- Next $35,000 earns 0.6% p.a.
*Increase account average daily balance for the current month by at least S$500 compared to the previous month.


Online Payment bonus is removed

How much can be withdraw from cpf at age 55

How much can be withdraw from cpf at age 55?

Upon turning 55 years old, members can withdraw their CPF savings, after setting aside their Full Retirement Sum or Basic Retirement Sum with sufficient CPF property charge/pledge in their Retirement Account.

You can find out how much you can withdraw using the
CPF Withdrawal Calculator



Some general FAQ:
Do I need to withdraw the CPF savings at age 55?
The withdrawal of your CPF savings is optional. If you do not withdraw at 55 years old, you can do so anytime later. In addition, you need not take out the full amount at one go.


What is the benefit if I do not withdraw the CPF savings at age 55
There is an additional extra interest of 1% per year will be given on the first $30,000 of your CPF balances (for members aged 55 and above) to enhance the retirement savings of CPF members. This is on top of the existing 1% extra interest on the first $60,000 of combined CPF balances

Temasek’s 4.35% p.a. Astrea IV Bonds

Azalea Asset Management is the leading entity behind this issue. It is also a wholly-owned unit of Temasek.

The Astrea IV bonds will be listed on the SGX, so you can sell them on the SGX.

The bonds have a soft maturity date of 5 years (2023), and a hard maturity date of 10 years (2028).

To subscribe by the public, the minimum amount is S$2,000.

Offer Period for Public Tranche: 6 Jun 2018, 9am to 12 Jun 2018, 12pm

$10 off First GrabFood Order (No Minimum Spend, Free Delivery)

Receive $10 off your very first GrabFood order with promo code 10OFF.
No minimum spend,  Get $5 off 3 orders after.

Great Eastern - GREAT270 Short-Term Endowment Plan

What is GREAT 270

• Offered by both OCBC and Great Eastern
• 5-year single premium
• Guaranteed interest of 2.70% every year
• You can either withdraw the 2.70% interest earned every year or reinvest it into the policy
• Minimum investment of S$10,000
• You may lose money if you surrender early
• Personal opinion: This is a good product for those who have money in SRS doing nothing.

Where to buy 

• Great Eastern or OCBC Banks
• Financial Advisor

Fuzzie app offering 8% off Grab rides (and free $5 Grab voucher)

I am showing you how to get the free $5 Grab voucher (with my referral code).

1. Download the Fuzzie App
2. Create an account
3. Tap on "ME" at the bottom right, follow by "Fuzzie Code". Key in "edmund0172" to activate your code and receive a $5 instant credit.
4. Tap on "WALLET" at the bottom, select the "Grab E-Gift Card" and click on "View Code".



P.S. If you have signed up using my code, I will earn $5 when you have spent a total of $25 on Fuzzie.

Maybank - up to 1.65% p.a. on 12 month SGD Time Deposit promotion

How to top up CPF medisave

Basic Healthcare Scheme (BHS) is a maximum limit on how much you can have in your Medisave Account (MA). For a CPF member below 65, the BHS has been increased to S$54,500 from S$52,000. For a CPF member who is 65 or above in 2018, the BHS cap has been set at S$54,500, it wont be changed for the rest of the member’s life.

If your MA meets the BHS, the excess monies will go into CPF Special Account (CPF SA), where it continues to earn 4% p.a. 

You can make voluntary contributions to your MA, but those contributions must stay within the two limits:
(1) CPF Annual Limit 
(2) BHS (which will is $54,500 in 2018).

Voluntary contributions to your MA will allow you to enjoy up to $7,000 in tax relief

See below steps to top up:

(1) e-Cashier

(2) Contribute to my Medisave (Tax deductiable)

 

(3)

 

 

(4) Enter the amount here

 

How to activate BOC Card for overseas usage

I am suprised that the only way to activate my BOC card if I am travelling is via their customer service hotline. There isnt any SMS or Internet banking option to do that.

Below is what I do:

a)  Call BOC 24-hour Customer Service Hotline at 1800 338 5335
b)  Press "1" for english
c)  Press “3” for Credit Card & MoneyPlus enquries
d)  Press “3” for Credit Card & MoneyPlus enquries (again)
e)  Key in your 16-digit card number, follow by # key
f)  I have not setup my telephone PIN, hence the call is directed to a CSO
g) CSO activate the card for overseas usage

Best Warren Buffett Quotes

Below is some of my favourite Warraen Buffett quotes


“Price is what you pay. Value is what you get.”

"You only have to do a very few things right in your life so long as you don't do too many things wrong."

"Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be a more productive than energy devoted to patching leaks."

 "It is not necessary to do extraordinary things to get extraordinary results."

"Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant."

"Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing."

"Be fearful when others are greedy. Be greedy when others are fearful."

"I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you."

“Risk comes from not knowing what you’re doing.”

GST could go up 2 percentage points in Budget 2018

The Goods and Services Tax (GST) is likely to be raised by two percentage points in Budget 2018 as Singapore's spending needs continue to grow, according to DBS senior economist Irvin Seah.

http://www.straitstimes.com/business/economy/gst-could-go-up-2-percentage-points-in-budget-2018-dbs-economist

Guess I will reduce my trips to restaurant and shopping malls.
Or rather I will look for those GST-free places to spend my money on.

Should I contribute to SRS account?

Contributions to SRS are eligible for tax relief, subject to a cap on personal income tax relief of $80,000 per Year of Assessment from Year of Assessment 2018.

Investment returns are accumulated tax-free and only 50% of the withdrawals from SRS are taxable at retirement (referred to as a “50% tax concession”).

Please refer to MOF website for more information.

So, will I contribute to SRS account?

No. I am planning to contribute $7K yearly into CPF SA until it hits the minimum sum. This will allow me to enjoy the compunding effect of the 4% p.a. interest in CPF SA and also the tax saving of 7K every year.

I will only consider contributing to SRS account after my CPF SA minimum sum is reached.

One of the right way to grow your money is to make sure you don't lose it.