Dear Students,
Read this article from SIAS on Deposits: http://sias.org.sg/beginnerguide/02_01-Deposits.php
In the comment link below, share 3 things/items that you learnt after reading this article & watching the videos.
Cheers.
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-Structured deposits have a good benefit of having higher returns.
ReplyDelete-In fixed deposit if you withdraw money there wont interest or lower interest.
-Risks of structured deposit.
Mohana
SQ1404A
Great job Mohana!
ReplyDeletenoted and transferred
Firstly i learn that there are different types of traditional deposits such as transactional and also special savings. They all have their own pros and cons and we have to do our research to see which one fits us best.
ReplyDeleteSecondly i learn that structured deposits are not traditional deposits as they are based on a certain point of view of financial markets and/or instruments.
CHER THE TOP COMMENT IS AKMAL OF SQA THANKS CHER
ReplyDeleteThree things I've learned:
ReplyDelete1. I have learnt about different types of Transactional such as:
-With a statement or a passbook.
- Transact at branches or self-service banking facilities (egs ATM, Internet Banking, Phone Banking or Cash Deposit Machine).
- On-Demand withdrawal at branches or self-service banking facilities. Allow salary credit, GIRO, bill payment facility or NETS transaction.
2. The second thing I've learnt is the difference between Traditional Deposits and Structured Deposits like whether your money is being covered by Deposit Insurance of up to $20,000 which is covered by Traditional Deposit and not covered by Structured Deposit and the other one is whether your money is covered by Singapore Government Guarantee which is covered by Traditional Deposit and not covered by Structured Deposit.
3. The last thing I've learnt is the benefits of Traditional Deposits, and the benefits of Structured Deposits. For example, the benefit for Traditional Deposit is that they enjoy Deposit Insurance and/or Government Guaranteed. As for Structured Deposit, the benefits are Diversify risks and enhance yields and Potentially higher returns.
Timothy Dalton
SQ1404A