Posb $50 Cash Gift Promotion

The promotion period is from 8th March 2016 to 31st March 2016

If you have $4,800 of spare cash and you are considering to put into a safe fix deposit, you can consider this. In my view this currently gives you the best rate for a "6 month tenor fix deposit" in the market.

All you need to do is to click here and open a new deposit and eMSA account(via ibanking will be the easiest)

1) Before 25th April 2016 deposit at least $3,000 into the new deposit account for at least 6 consecutive months.

2) Maintain a monthly contribution amount of at least S$300 for a 6 month period, have the first contribution before 25th April and not withdraw from the eMSA account during the 6 month period. Which means the total amount you need for this account is 300 x 6 = $1800.

Fulfilling either 1) or 2) gives you only $20, which will be credited to your new deposit or eMSA account before 13th May 2016.

Fulfilling both 1) and 2) will give you $50 which is more worth it percentage wise.

Which means you  get a $50 cash gift for depositing a total of $4,800 within 6 months. That is an effective yield of 2.0833% p.a for your $4800. Not bad at all for a risk free investment. Do note that the eMSA and deposit account should also accrued interest within the 6 months of holding in addition to the $50 gift that you will be getting

If you think that you don't need too many accounts, you should be able to cancel both accounts once you receive the cash offer.