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Which Bank To Deposit Your Ang Bao Money?

After days of Chinese New Year, many of us feel “richer” after collecting red packets from your parents and relatives. (For those that gave out red packets, i hope your rubbed shoulder with God of Fortune and got your windfall) Now as you hold and sniff your stacks of new notes, you may be thinking of the best place to put away this sum of money other than your tin can or under your pillow. Should you just deposit these money to your standard POSB/DBS account?

We take a look at the banks you should be putting away your money with, which includes fixed deposits and your daily saving accounts.

1. POSB

If you are not aware, POSB launched a cash gift promotion of 1.88% for 12 months on 23 January 2015. What this means is that any single sum deposit between SGD 1,000 to SGD 1,000,000 to your saving account will earn you an interest of 1.88% for 12 months. The catch is you cannot withdraw these top-up amount during this 12-month period.

Note: You must sign up before 28 February 2015 to be eligible for the promotion.

For more info and terms: http://goo.gl/0YxWqk

2. DBS

DBS launched the same promotion earlier this month for customers who deposit SGD 1,000 to SGD 3,000,000 can earn an additional 1.88% p.a for 3 months on top of the 2.08% of their DBS Multiplier Account. Likewise, you need to register with them by 28 February 2015 and make a one-time top-up to be eligible for the promotion. You will need to hold on to the fund for 3 months.

For more info and terms: http://goo.gl/ZaUqht

3. OCBC

For those who makes a larger deposit of fresh funds of SGD 10,000 and more can consider OCBC Bonus+ Savings Account with up to 2.35% p.a. All funds will earn a base interest rate of 0.05% p.a if no withdrawals are made. If no withdrawals are made in a month, you get an additional 0.55% p.a. Get an additional 0.55% p.a if you do not withdraw in that calendar quarter and a whopping 1.20% p.a top-up bonus if you deposit $10,000 of fresh funds. (0.05% + 0.55% + 0.55% + 1.20% = 2.35%)

For Premier customers, you get an additional 0.05% p.a on each tiers which means you could earn up to 2.50% p.a.

For a 12 month Time Deposit, earn up to 1.40% when you deposit a minimum of $20,000 in fresh funds.

For more info and terms: http://goo.gl/0qx9YC

4. UOB

Enjoy bonus rates of 0.8% p.a when you deposit fresh funds of at least $15,000. If you deposit fresh funds of $50,000, you will get 1.0% p.a bonus rates and 1.2% p.a if you deposit $100,000 and more. Get an additional 0.1% if your account balance is above S$350,000.

Receive a limited edition 24K Gold-Plated RISIS Magnificent Goat Figurine (valued at S$238) with S$108,000 fresh funds deposit*.

This UOB Lunar New Year Savings Promotion ends on 28 February 2015.

For more info and terms: http://goo.gl/f53ncU

* For those who want a higher rate can opt for their SGD Fixed Deposit, where you can get up to 1.30% p.a with a 13 month tenor and a minimum of SGD 20,000. Promotion ends 28 Feb 2015.

More info here: http://goo.gl/gOZIF

5. Maybank

Maybank offers more choices for their Time Deposit plans and the interest rate varies depending on the amount and tenure of your deposit. From S$25,000, you can get 1.10% p.a if you can lock away for 12 months and can go up to 1.28% p.a if you can stretch longer to 24 months. If you have double the amount (S$50,000 and above), you fall into the higher tier and can receive up to 1.55% p.a for a 24-month Time Deposit.

If you deposit S$150,000 for 24 months, you stand to receive a Corningware 6-piece Meal Maker Set “Dancing Floral” worth S$145.

More info and details: http://goo.gl/5n4oyN

6. CIMB

Deposit a minimum of $25,000 to get an interest rate of 1.25% p.a for their 12-Month SGD Fixed Deposit Account. For larger amount deposit of $250,000 and more, you will receive 1.30% p.a. That’s not all, depending on the amount of fresh funds you deposit, you stand to receive a New Moon Abalone Set.

For more info and terms: http://www.cimbbank.com.sg/promo/cny2015/

7. SCB

Deposit a minimum of S$25,000 and get up to 1.40% p.a for 6-months and 1.35% p.a for 12 months. For larger amount of S$128,000 and more, you stand to receive a choice of two 24K Gold-Plated Goat Medallion coins OR a Coin Set. Promotion ends 28 February 2015.

More info and details: http://goo.gl/GYWzxy

* For those who want to deposit a smaller amount (with no min deposit) and no tenure can opt for their e$aver Account where you stand to earn an interest rate of 1.35% p.a until 31 March 2015. More info: http://goo.gl/18oKdx

8. Citibank

Want time deposit with a shorter tenor? Then go for Citibank’s 9-month Time Deposit and receive an interest rate of 1.18% p.a. You will need to deposit a minimum of S$50,000 and up to a maximum of S$5,000,000 of fresh funds. Promotion ends on 28 February 2015.

More info and details: http://goo.gl/1VfPsT

7 Household Troubles to Fix Yourself and Save More

1. HOLES IN THE WALL

To fix the white wall blemishes that are smaller than 1/4 inch wide then try covering it up with plain toothpaste. Put enough to fill in the whole and scrape off the excess with a knife. If the imperfection is still evident then sand it flat and re paint. For larger cracks you will have to cover it up with “wall filler or spackling compound” that is available for about S$5-7 at the hardware store.

2. UNEVEN WOODEN FURNITURE AND FLOORS

To avoid sanding the whole floor or table to smoothen it up, try this simple solution. Spread a wet towel over the scratched or uneven area then place a hot flat iron on the top then move it in a circular motion for 3-5 minutes. Color it with varnish afterwards if you want.

3. CLOGGED DRAIN

To clear the drain, avoid chemical cleaners as much as possible. Most clogs are in the P-trap (curved pipe below your sink), which is usually easy to access yourself. Place a bucket below to catch any overflow and unscrew the two connections. Clean any debris inside then, screw everything to place.

4. WOBBLY CHAIRS

To silence the creaks and to stabilize the chair’s frame, tighten all the screws first. If the chair has interlocking joints, disassemble the joints. Fill the cracks with an adhesive to bring the parts together.

5. LOOSE CABINET DOORS

Loosen the cabinet screws on the hinge to adjust the door up and down. Adjust accordingly then, retighten once again. A worn out or a bent latch can be replaced by a new one.

6. DIFFICULT SLIDING DOORS

To smoothen the move of the sliding door, you must clean the debris that are jammed within the track and the wheels. Clear it all by running a paintbrush or vacuum along the track.

7. CLOGGED TOILET

This is one of the usual issues faced in the house. To unclog your toilet, use a plunger that is completely submerged. Plunge vigorously! If this does not work, then buy a toilet auger or plumber’s snake in hardware stores that cost about S$13-15. Insert the flexible tool into your toilet drain then rotate it around.

Image Credits: Gary J. Wood via Flickr

There you have it. See, you can solve household problems without calling for backup!

How To Earn Extra Cash While Growing Your Business Empire

As an entrepreneur, you may be aware that you can get financially unstable at times due to the market’s condition and other factors. So, consider ways to get income on the side that will help alleviate some of the financial stress. Try these 5 ways…

1. CAR FOR RENT

Rent your personal vehicle to others in need. You may post an Ad for free at Gumtree or spread the word through self-printed flyers. Get acquainted with the user first to have a firm and trusting agreement regarding the car’s usage. This will allow you to focus on your business while your car is making money on its own.

2. RENT YOUR GUEST ROOM

If you are okay with sharing your house with other tenants then rent out the empty room/s. Once again, get to know the tenants first (i.e., personality or cleaning habits) and set some ground rules because you might be living with them for more than a month. In an event that you need to go overseas for business, then you may rent the whole house to them and charge them more.

3. TRY ONLINE OUTSOURCING

Some online websites allow users to outsource their skills on a freelance basis. If you can do website development, clerical jobs, writing an essay, video editing, or any other skill…try signing up for Odesk to get decent extra income. Salary payment in Odesk is painless because Credit Cards, PayPal accounts, and Bank Accounts are accepted.

4. INVEST IN REAL ESTATE

There are a lot of methods for making money in real estate that do not require your full-time effort so you can focus more on your growing business. You can consider purchasing properties and resell them for profit (flipping houses) or real estate wholesaling. If this area is unknown to you, find your friends or people in your area with the expertise that you do not have and partner with them.

5. CREATE A NETWORKING EVENT

Image Credits: Image Credits: Cydcor Offices via Flickr

Organize networking events to help young professionals interact with the environment. You not only help others to make valuable connections but you also make money by charging the participants for the food or the registration fee.

8 Places To Go This Chinese New Year On A Budget

As the most important day for the Chinese in the world arrives, it is also the time when festive mood kicks in. Most of us look forward to usher in the Year of the Goat hoping for a better year ahead filled with abundance and prosperity. For the younger generation, it is also the time of the year when they get rich as they fervently collect the red packets.

There are also various activities and places to go where you can soak into the ambience of the festive mood. We take a look at 8 places where you can celebrate the Chinese New Year on a budget:

1. River Hongbao 2015

River Hongbao is one of the best place to be at during Chinese New Year as there are a varieties of activities from Xinjiang performances to large lanterns and God of Fortune. For your kids, there are more than 25 game stalls and rides such as the bumper car and carousel. There are Traditional Chinese Art and Crafts stalls if you enjoyed arts. When you are famished, there is also a Food Street for you to try out some of the local delicacies such as Chicken Rice, Bak Kut Teh, Laksa, Hokkien Prawn Noodle and more. There’s also fireworks on the eve of Chinese New Year. Admission is free.

For more info: http://www.riverhongbao.sg/

2. Open House at the Musuems

Take a walk at the museums as there are Open House during Chinese New Year. With an array of activities organised for you and your family, learn the history and cultural aspect of the Festival of Spring. Admission is free.

For more info: http://www.nhb.gov.sg/

3. Catch a movie

As this is a festive period, expect a number of movies to be launched on the first day of Chinese New Year.

Make sure you catch these movies:

Ah Boy To Men 3: Great family show. If you have watch the first two series of Ah Boy To Men, you know Jack Neo is a good director who know what the Singaporeans want to see.
King of Mahjong: Starring Mark Lee. Good show to watch for those who wish to be inspired before their Mahjong’s session this CNY.
From Vegas to Macau II: With Chow Yun Fatt, “the legendary gambler” as the main lead, you shouldn’t miss this for those who like to gamble during CNY. Gamble with care.
Dragon Blade: With Jacky Chan in the movie, need i say more?
Triumph in the Skies: If you are a HK Drama addict like myself, you would have watched their drama on TVB years ago. It has also been cited as one of the best serial dramas. With Julian Cheung and Charmaine Sheh in the movie, this will be a movie on my watch list.
12 Golden Ducks: Another HK Movie, this time a comedy starring Sandra Ng who plays a cross-gender gigolo that will make you laugh your way out of the theatre.

4. Chinatown Countdown Party 2015 and Street Light-Up

Image credit: ST

Expect Chinatown to usher in the Chinese New Year with a blast! After your reunion dinner, head over to Chinatown for a countdown party from 9.30pm – 12.30am on 18 February 2015. Immerse yourself with the festive joy with performances, skits and festive songs. Did i mention there will be firecrackers and fireworks? On the first day of Chinese New Year, the entire street of Chinatown lights up with lanterns and “goats” figurines.

For more info: http://chinatownfestivals.sg/chinatown-chinese-new-year-celebrations-2015/

5. Sentosa

Do not miss out the actions at The State of Fun as Sentosa will bring you a series of performances this Lunar New Year. Wei Wei, a Shaolin Master who also holds the Guiness World Record, will showcase his Kung Fu and martial art skills during the events. Be captivated by the Northern and Southern Lion Dance performances located at the Merlion Plaza and Wings of Time Concourse respectively. That’s not all. When night falls, you will be mesmerized by the LED Dragon Dance at the Beach Plaza and the Prosperity Walkway with hundreds of lantern beautifully lighted up.

For more info: http://www.sentosa.com.sg/en/SentosaCelebratesLNY/

6. Singapore Flyer

Ride the Singapore Flyer for free this Lunar New Year if you are the first 88 visitors from 19 – 22 February 2015! It operates from 8.30am so make sure you are there early if you want to embark on a ride that provides unrivaled view of the Singapore’s skyline. Make sure you snap a photo of Marina Bay and the Esplanade. There are also other fun-filled activities such as Lion and Dragon Dance performances, Wushu performances and God of Fortune/Lucky Goat mascots to welcome you.

For more info: http://www.singaporeflyer.com/lunar-new-year-2015-promotions-activities/

7. Gardens by The Bay

At Gardens by The Bay, there are also plenty of events lined up for Chinese New Year. Don’t miss the floral showcase at the Flower Dome where you get to see display of goats and other Chinese New Year figurines made of flowers. There’s also Lion Dance performances on 21 February 2015, from 5 – 6pm.

For more info: http://www.gardensbythebay.com.sg/en/the-gardens/whats-on/calendar-of-event.html

8. Wildlife fun

Zoo

Since this is the year of the Goat, don’t you think you should visit the Zoo to snap a picture with the “main lead” this year? There’s Goat Photography on 18 – 22 Feb 2015 for you to take a shot with the baby goats! There are also Lion Dance performances and Mascots to greet you during your visit.

For more info: http://www.zoo.com.sg/events-promos/cny-15.html

Jurong Bird Park

Visit the birds and feed the parrots with curated treats in festive ang baos!

For more info: http://www.birdpark.com.sg/events-promos/cny-15.html

River Safari

Catch the giant pandas Kai Kai and Jia Jia at the River Safari as you witness these majestic Chinese animals fervently open up their Chinese New Year’s treats.

For more info: http://riversafari.com.sg/events-promos/cny-15.html

Night Safari

Want to catch glowing ‘Lions’? Then head over to Night Safari where you can catch spectacular LED lighted Lions showcasing their moves to bring you luck and prosperity. The LED lighted mascots look forward to snap pictures with you, so make sure you bring your camera with you. If you would like to read your future, take a walk along the Zoo-diac trail which predicts your horoscope for the year of the Goat.

For more info: http://www.nightsafari.com.sg/events-promos/cny-15.html

May you enjoy this festive season and long holiday with plenty of activities that are lined up for you.

Wishing You a Happy and Prosperous Chinese New Year. 新年快乐, 恭喜发财!

7 Golden Insurance Tips Every Newlywed Should Know

The vow of “for better or worse…for richer or for poorer” entails an important promise to live in a financially able home. Managing your money on your own can be challenging enough so adding your spouse’s finances may be overwhelming at times. With that in mind, here are 7 Insurance Tips for Newlyweds…

1. DISCUSS YOUR FINANCES AND SET YOUR GOALS

Discuss your finances with your new spouse as soon and as open as possible. You will need to communicate about your bank accounts and about your debts. Set up goals together in order to see which insurance suits your intentions.

2. LOCATION IS EVERYTHING

Housing insurance often pays for destruction, damage, and theft of your possessions. In the event of fire, your insurance will help pay to repair and replace your expensive belongings. Homes close to fire hydrants and fire stations cost less to insure. This is why location of your house is important.

3. TRY THE LUCKY SEVEN

If you are wondering how much life insurance coverage you need, then seek the experts help. Some experts suggest multiplying your annual income by seven so that your spouse is covered for at least 5 to 10 years.

4. CONTINUE DRIVING RED CARS

It is a myth that car insurance companies charge more for red cars. Higher charges come from the age of the client, client’s claims history, and age and model of the car.

5. CONSIDER FLOOD INSURANCE

Housing insurance cover damage caused by pipe overflows but, natural disaster flood are covered by flood insurance. Findings suggest that almost 25% of flood insurance claims are made from low-risk areas, so consider this policy.

6. HOME IS YOUR BIGGEST INVESTMENT

Your home is your biggest investment because unlike cars that depreciate its value the minute you drive them, your house increases its value over time. Houses that are less than 10 years old or those that are renovated within the last 10 years cost less to insure. What’s more? If the house is made of fire-resistant materials such as brick, you can save even more money.

7. BE FIT TO SAVE MORE

Live a healthy lifestyle that includes regular exercise and a balanced diet. Hop on the scale to see if your body weight is the ideal BMI for your age. This is because life insurance companies charge more for people who are overweight since they develop more health problems as time passes. So, stepping on the gym will not only give you a sexy body but it will also help you save more insurance money.

Image Credits: Alan Cleaver via Flickr

1. POSB<img loading="lazy" class=" wp-image-4946 aligncenter" src="http://www.moneydigest.sg/wp-content/uploads/2015/02/POSB-1.88.jpg" alt="POSB 1.88" width="437" height="247" />

2. DBS

3. OCBC

4. UOB<img loading="lazy" class=" wp-image-4951 aligncenter" src="http://www.moneydigest.sg/wp-content/uploads/2015/02/UOB-Bonus-Rates.jpg" alt="UOB Bonus Rates" width="471" height="294" />

5. Maybank

6. CIMB

7. SCB

8. Citibank

1. River Hongbao 2015

2. Open House at the Musuems

3. Catch a movie

4. Chinatown Countdown Party 2015 and Street Light-Up

5. Sentosa

6. Singapore Flyer

7. Gardens by The Bay

8. Wildlife fun

Search the site

1. POSB

4. UOB