Competition for funds driving up fixed deposit rates
Investors also turning to alternative instruments as banks seek to lock in funds
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Singapore
THE fight for fixed deposits is heating up as financial institutions are dangling higher rates to lock in funds before interest rates rise further, with alternative instruments also offering attractive options.
Finance company Sing Investments & Finance (SIF) noted that retail investors are constantly on the hunt for higher yields in a rising interest rate environment and they are spoilt for choice.
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