Mid-year review: Goal met of $200k cash at 28. $400k+ net worth and Astrea bond V

Half a year gone.

I still have not gotten my keys to my new home and am still childless. Ok, TMI.

On financial front, I've been seeing a steady increase in my net worth. As at my last update in end 2018, my net worth was at $372k.

Half a year later, I've successfully crossed $200k cash savings (previously it dropped as I topped up my MA) and exceeded $400k in networth. I may be able to hit $450k by end year but will just need to carve out some money for renovation and home stuff.

Most gains came from employment. While I lament how sick I am of work, it is my main source of $. I've not added any stocks and can never not live off my portfolio for passive income. It is with salary crediting that I've received 1.85-2% interest on my DBS multiplier anyway.

I've been thinking if I'm making my money work hard enough. I occasionally browse the SGX hoping to see some stocks to purchase, but am not comfortable enough to make the move.

Since Jan till date, my transactions …

Extra $160 after a year's wait - SBI 1.6% FD

I blogged about my achievement of having $100k savings before age 28 some time back. One way I could achieve this was to make sure my money grows through FDs. However, in recent months, the interest rates have been dropping. I used to see CIMB offering 1.8% p.a for a $10,000 fresh funds deposit, now it's 1.2% p.a for a 6 months tenure with a minimum $20k deposit.

One year ago, I chanced upon the State Bank of India offering a 1.6% interest p.a on minimum $10k deposit. It was the best deal I've seen then. I was contemplating about putting my money into a foreign bank but went ahead thinking that the Deposit Insurance Scheme would insure me.

Prior to making my deposit, I popped into the bank to enquire on the FD rate, just to be sure it was 1.6%. The bank teller looked at me and asked, "Do you have $10k?", "Are you a Singaporean?".

When I told her I'd be withdrawing my money nearby and am a Singaporean, she gave this insouciant expression and continued to mind her business. #badcustomerservice #sheisasingaporeanchinesebtw

While walking to withdraw my money, I was having 2nd thoughts. Why should I bank my money with this bank that doesn't provide good customer service? Btw, compared to the usual airy, advanced and professional feel of our local big banks, stepping in to SBI's branch would make you feel like...you're in a police station. I didn't feel very comfortable with their service, but I wouldn't want to say no to easy money.

To cut the story short, I made my FD on 19 Jul. And 1 year later, I cashed it out.

Time flies, so damn quickly.

If not for my calendar reminder, I'd have forgotten about my FD. So a tip from me, mark your FDs maturity in your calendar. Following the reminder, I made my trip down to the bank and behold...I was the only customer. Not surprising if you've been to the branch. Anyway, I was served immediately by a sweet and friendly lady but the transaction took close to 20 minutes. Not kidding. All this while, the bank manager was chatting on the phone (not sure if he was talking about business) while the lady processed my FD and passed a form for him to sign. The bank manager even had to be reminded to sign another page. Despite the long wait, I was relieved when I received the cashier order along with my $160 interest.

So, if you are interested to bank with SBI, don't expect efficiency, but at least you'll get your money back :)

Now, time to hunt for places to park my extra cash. Any ideas?


  1. Hi Cherry,

    If you have yet to sign up for the DBS Multiplier or eMySavings/SAYE accounts, maybe you wish to take a look at DBS's promotion:


    Free movie tickets somemore, 不拿白不拿... If you are signing up, do remember to plan ahead so that you are amongst the first few signup at the start of the month :D

    Alternatively you can also see see fellow financial blogger's GMGH's lobang on the Citibank's Maxi Gain account:


    Worse come to worse, can still turn to SSB lol...at least the chance of touching the $10k out of your total assets is likely to be very slim to take advantage of the full tenure :D

    Remember to share if got any more tips or lobang like the State Bank of India's FD, if I knew of it will confirm place some deposits one :(

    Cheers =)

    1. Thanks for sharing! In fact, I did sign up in early June. I'd only know if I'm eligible in August...
      Hope I get the free movie tickets and the interest!! HUAT AH!


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