As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Value Investing
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Thursday, 28 March 2019

Good News For Hardcore Savers!


Read? Deposit insurance coverage rises to S$75,000; gig workers gain insurance policy protection

DEPOSIT insurance will rise to S$75,000 to give savers more protection in the event of bank or finance company failure.

Insurance policy owners who use their cars or homes to generate income will now also be protected should their insurer go under.

Depositors and insurance policy owners will enjoy such enhanced protection from April 1, 2019, said the Singapore Deposit Insurance Corporation (SDIC) on Thursday. 

The latest changes to the deposit insurance (DI) and policy owners' protection (PPF) schemes protect deposits up to S$75,000 per depositor and extend protection to personal assets used for commercial purposes, it said.

"The increase in deposit insurance coverage to S$75,000 from next Monday will ensure that more than nine out of 10 depositors will have their savings fully protected if a bank or finance company fails," the SDIC said.



3 comments:

  1. Haha standby ur spare cash LOL!

    Although with the regime of finanial oppression in place since 2001, not sure how many will be motivated to park cash in deposits & FDs.

    Reminds me of a month ago when i saw a receipt carelessly left at the atm showing over $200k just sitting in savings a/c earning 0.05%?!? Or maybe just a short term thing hoho.

    ReplyDelete
  2. Not hard core saver but 4 Ks Sinkie.

    Maybe experienced one Bear/Bull/Bear found out not suitable for stock market - chop fingers Liu.

    Just for laugh!?

    ReplyDelete

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