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Thread: FD account

  1. #1

    Default FD account

    Tried to open a Fixed Deposit Account at POSB but was referred to a financial advisor who introduced me many investment plans that I am currently not interested. He was pretty aggressive and I did not manage to shake him off except to tell him that I will consider and come another day. In the end, wasted my time and din open my FD account. Is it possible to open a Fixed Deposit Account without going through those financial advisor?

  2. #2
    Member
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    Default Re: FD account

    just say no....

    sometime these irritants will make you sign up for those accounts that will entice you with "possible" higher returns...... all tricks!!!

  3. #3

    Default Re: FD account

    He was only doing his job lah... Just tell him firmly that you only want an FD lor..
    When I do right, no one remembers. When I do wrong, no one ever forgets.

  4. #4

    Default Re: FD account

    I can understand it is his job but after politely declining for several times, I still find myself stuck there. Somehow he just refuses to let me proceed with the signing up of FD account. Maybe it is my fault that I am not assertive enough. Just wondering, if it is possible bypass them to open an account.

  5. #5

    Default Re: FD account

    Quote Originally Posted by Falcon View Post
    I can understand it is his job but after politely declining for several times, I still find myself stuck there. Somehow he just refuses to let me proceed with the signing up of FD account. Maybe it is my fault that I am not assertive enough. Just wondering, if it is possible bypass them to open an account.
    Yup.. Just head straight to the teller..
    When I do right, no one remembers. When I do wrong, no one ever forgets.

  6. #6

    Default Re: FD account

    Make noise to the branch manager.

    But honestly, FD rates are so low it's ridiculous. There are much better products on the market with very little risk.

  7. #7

    Default Re: FD account

    Quote Originally Posted by Falcon View Post
    I can understand it is his job but after politely declining for several times, I still find myself stuck there. Somehow he just refuses to let me proceed with the signing up of FD account. Maybe it is my fault that I am not assertive enough. Just wondering, if it is possible bypass them to open an account.
    yar... most probably not assertive enough.
    just be nasty and tell him "shut up and let me do my stuffs or i will call the police that is jagar the posb". i'm sure he/she will back off.

  8. #8

    Default Re: FD account

    Quote Originally Posted by waileong View Post
    Make noise to the branch manager.

    But honestly, FD rates are so low it's ridiculous. There are much better products on the market with very little risk.
    Go for foreign currency time deposits, NZ$ fetch abt 8%pa returns. Aussie is also pretty attractive. Citibank has USD for 3 mths at 4.18%pa. But USD is high risk at this juncture, unless you have already had USD on hand....

  9. #9

    Default Re: FD account

    ya they will always brainwash you once u in the room. my grandfather got brainwash and did something he din even know, yes, he claimed the person was very aggressive and language is also a problem where many things were not tell, in the end, complain lor...

    me is cos i 16 nia at tat time, not so much money so they din brainwash me much

    nw i trust the usual bank i go, and the single personal investment personnel i always go to~ try makin friends there to save those brainwashin bah, mayb they will really intro something gd

  10. #10
    Member
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    Default Re: FD account

    Well SGD FD is low rate simply because the SIBOR and SIBAR is low at less than 1%. So it's not surprising that the rates are bad. Kiwi and AUDs are doing well at this point of time. USD is rather shakey. The inter-bank rates are about 4.6 to 4.7%... so depends on your risk appetite la.

  11. #11
    Senior Member
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    Default Re: FD account

    do you know why POSB queues are so long? It's because thier tellers are instructed to promote those financial investments....

  12. #12

    Default Re: FD account

    Quote Originally Posted by Sjourn View Post
    do you know why POSB queues are so long? It's because thier tellers are instructed to promote those financial investments....
    It's the same in other banks lah.. Not just POSB..
    When I do right, no one remembers. When I do wrong, no one ever forgets.

  13. #13
    ClubSNAP Idol Adam Goi's Avatar
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    Default Re: FD account

    Hi ... I like the autonomy I have with Maybank. I countered the problem by opening an iSAVvy Savings account and subsequently transferred my excess balance to their iSAVvy Time Deposit online ...

  14. #14

    Smile Re: FD account

    high pressure selling tactics ?

    Quote Originally Posted by Falcon View Post
    I can understand it is his job but after politely declining for several times, I still find myself stuck there. Somehow he just refuses to let me proceed with the signing up of FD account. Maybe it is my fault that I am not assertive enough. Just wondering, if it is possible bypass them to open an account.

  15. #15

    Smile Re: FD account

    what are they, please?

    Quote Originally Posted by waileong View Post
    Make noise to the branch manager.

    But honestly, FD rates are so low it's ridiculous. There are much better products on the market with very little risk.

  16. #16

    Default Re: FD account

    With inflation going on every year, your money may just shrink in time if it is parked in an FD account.

  17. #17
    Senior Member
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    Default Re: FD account

    Quote Originally Posted by snowspeeder View Post
    With inflation going on every year, your money may just shrink in time if it is parked in an FD account.
    So the best thing to do is just spend it BBB!

  18. #18

    Default Re: FD account

    Quote Originally Posted by Yatlapball View Post
    So the best thing to do is just spend it BBB!
    lol, no. 1 virus of the year

  19. #19
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    Default Re: FD account

    The FA can be an a$$h0l3, why cant you? If you are too nice, you will be taken advantage of.

    I have done that so many times. I just say, thank you very much, I do not undermine your knowledge but please do not undermine my knowledge too.
    I have my own view of what is suitable for me and now I want an FD, so are you going to do that or not, if not I will talk to the manager.
    If the manager bo liaw and try to be like that too, I will repeat the above sentence, and threaten to complain to MAS. Simple. They will work extra fast to get rid of you to make room for the next vict... I mean customer.

    Quick and fast. I dont have to like him, he dont have to like me, it is a simple transaction only.

  20. #20
    Member tony_teo's Avatar
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    Default Re: FD account

    S$ FD is giving very low interst rate, have you considered Stan Chart e-Saver's? Slightly better rates and your $$ not tied down.

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