How to make the most out of your bank account

Payday loan with low interest ratesWith so many savings account options available, it’s important to know what your needs are, and what they will be in the future, when looking to open a new savings or checking account. Payday loan Singapore with low interest rates isn’t what it used to be, and the days of 5% interest rates aren’t likely to return any time soon. That doesn’t mean, however, that there aren’t accounts out there with better rates than others. Generally speaking, an online savings account will offer a higher interest rate on savings than a traditional, brick and mortar bank. This is because of the lower overhead involved with an online bank. The downside to an online account, however, is that there isn’t always a bank branch nearby to make cash deposits or to have a check cashed.

Of course, interest rates aren’t the only consideration when you’re looking to open a savings account. Some savings accounts offer substantial rewards when they are opened, provided certain terms are met. For example, some accounts may give a bonus if you open an account and maintain a certain balance for several months. If you have the money for it, opening one or more of these accounts can be a very useful way to generate extra funds.

Sometimes, however, it’s difficult to maintain the often large balance necessary to receive a bonus for opening an account. You might get left and right car loans Singapore and In these cases, it’s critical to find a bank account which offers the fewest restrictions possible. An account with no minimum balance is ideal if you expect to be dealing with fluctuations in your banked funds. Some banks may also waive or reimburse ATM fees for certain accounts, which is extremely useful to someone who often buys things in cash. Many banks also make online financial tracking available to account holders, which is an enormously useful tool for tracking expenses. If you seek help from trusted lenders to give you Singapore flexi loans for low income, then go.

Online delivery of statements and online account transfers are important perks for the savvy bank customer as well. Finding an account which offers the right combination of perks and interest rates is one of the most important decisions anyone can make. Being informed and doing your research will pay enormous dividends for the future.

Categories: Business and Finance

Business Growth in Singapore

Business is an important force in the diverse political and ethnic environment that is Singapore. The economy is both industrial and international in nature. Unemployment is low-below 3%; the majority of the population is employed in manufacturing jobs, managerial positions, and the financial sector.1

    Business growth in Singapore is fueled by the Singaporean tendency to push for progress. The country’s citizens are competitive because of a natural inclination to be the best possible at what ever they do. They like to outperform each other by nature and always want to excel at whatever they take on.

Business Growth in Singapore

The momentum toward excellence and achievement trickles down to encourage business growth and general prosperity as citizens continuously seek to improve themselves and their business affairs.

     Despite the impact of ethnic groups within Singapore, there is a strong western influence in business as well as social matters. Although there is a strong Asian influence, the fact that Singapore was formerly a British  colony, means that its early affiliation with a Western nation causes a strong Western influence to remain today despite the passage of time and the increasing general global influence everywhere.

     Focused business growth in Singapore has led to an increased import/export business within the manufacturing sector. Increased trade and commerce are positioning the country as a major player in the Asian markets.

     The citizens of Singapore will continue to strive for increased business growth for their country. Increases in their influence in the financial world and their manufacturing exports continue to position their financial success to increase and take on greater significance.

As their manufacturing output continues to increase, economic growth will proceed at an equal rate. National prosperity will continue to grow as Singaporeans find themselves at the forefront of modern Asian business growth. For a small island nation, business growth has helped it turn from being someone else’s colony to being an economic force in its own right.

Categories: Business and Finance

What To Know About Foreigner Loans

Like it always has been, New York City today is host to an ongoing stream of foreign immigrants. During the economic crash of the last decade, lenders weren’t likely to extend finances to these new foreigners, but interest rates are currently at a low, and Singapore foreigner loans are becoming more popular.

There aren’t many Singapore licensed money lenders who will negotiate foreigner loans, but the business is still increasing. Multinational bank HSBC in London has reported that home loans offered to foreign borrowers in the U.S. have tripled in number since 2010. The reason for the growing number is believed to be the lowered interest rate. HSBC has a presence in 81 countries and territories, and offers quite favorable mortgage terms: currently, HSBC offers loans for 70% of a home purchase price, up to $3 million. 

personal loan singapore

Even though interest rates are regularly a bit higher for personal loan Singapore for expats, the interest rate on a five year adjustable mortgage from HSBC is still in the 2% range – pretty low for such a big loan amount. When a foreigner is looking to mortgage apartments in non-warrantable complexes (non-warrantable means they don’t meet Fannie Mae’s financing guidelines,) HSBC can require up to 50% of the mortgage up front to be careful. Still, foreign buyers go for it, as they are expecting to pay all of it up front, and are pleasantly surprised by the possibility of a foreigner’s loan when they get to the U.S. 

Residential property in New York City is rising in value, being now the eighth most expensive city to live in on the planet. New York follows Monaco,  Hong Kong, London, Geneva, Paris, Singapore, and Moscow. High quality housing in NYC is becoming more common. This gives foreign borrowers an edge, as they can buy a larger, nicer property that has a good chance of getting a higher rate of return in years coming up.  

Categories: Business and Finance

Top Singapore Spots for Tourist

singapore-attractions

There are many things to do, sites to see, and things to learn in Singapore. With so many options for tourists below is a complied list of the top spots to visit in Singapore.

Gardens by the Bay is a beautiful nature park that is over 250 acres that is located in Central Singapore and consists of three waterfront gardens, which are: Bay South Garden, Bay East Garden, and Bay Central Garden. It also has been crowned World Building of the Year at the World Architecture Festival in 2012. They have supertrees that offer impressive skywalks over the gardens and have oversized seashell shaped greenhouses that make it enjoyable for adults and children.

 

The Marina Bay is also a spectacular site to see and it has undergone a transformation of epic proportions due to the fast development of the cosmopolitan city-state. There are many fun things to do in the Marina Bay such as the many resorts, the Science Museum, casinos, shopping, and dining and nightlife options. They even offer a light show, which illuminates on the water too.

 

Another Singapore icon is Chinatown. They offer great shopping, at the lowest prices, souvenirs, and authentic Chinese food. There are many restaurants to choose from and a ton of history that can be obtained from the Chinatown Heritage Centre on Pagoda Street. The main focus of this spot is on the Chinese immigrants who lived a hard life and were the main group that founded Singapore. Some of the main attractions are the Buddha Tooth Relic Temple and the Eu Yan Sang Chinese Medical Hall.

 

There is also the Singapore Flyer, which is the world’s largest observation wheel. This brings many tourists to check this out. It is built over a three story terminal building and offers breathtaking panorama views. Passengers will get to see the city’s sights such as the Singapore River, Raffles Place, Marina Bay, and Empress Place.

 

A great family fun attraction would be the Universal Studios Singapore, which is the first of its kind to open in Southeast Asia. The park has more than 20 attractions and two of the rides are water themed and five are thrilling roller coasters, which are two of the world’s tallest dulling roller coasters.

Categories: Business and Finance

Nick Leeson: The Trading Scourge of SIMEX – Where Is He Today?

Back in the early 1990s, an amazing and incredulous thing happened. With a series of trades, and over the course of a few weeks, a single options trader for an international merchant bank managed to bring into bankruptcy one of the most famous banks of England, as well as put into turmoil the entire Asian public trading market.

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Nick Leeson, through trading derivatives, completely lost all of Barings Bank’s holdings on speculative trades, and he burned through 827 billion British pounds by the time he was finished. Leeson argued he was authorized, but everyone involved, including the authorities, quickly went after Leeson as the instigator.

While he tried to hide for a while, sneaking out of Asia and eventually making it to Germany while triggering an international chase and Interpol warrants, Leeson was eventually arrested in Frankfurt and sent back to Singapore for trial and prison.

Leeson served 6½ years in prison and was released in 1999, sick with colon cancer. Many people, especially his doctors, did not expect him to live very long. However, just as in his trades, Leeson managed to beat the odds again, and his cancer went into remission. Leeson’s original wife divorced him while he was in prison, but he remarried again in 2003 and relocated to Ireland.

Settling down into a new life, Leeson traded on his past and earned a comfortable income giving speeches about his financial deals and his thoughts on financial markets, similar to another former-criminal-become-seminar-speaker, Michael Milken, the junk-bond king of the 1980s. Even more amazing, Leeson managed to get himself into the management of a local football club and eventually become its CEO. But in 2011, he abruptly quit.

Today, despite all that happened in Singapore and his permanent fame in the hallways of financial ill repute, Lesson still lives quietly in Ireland, making an occasional TV appearance on Irish programs when not giving his regular speeches.

Categories: Business and Finance