Savings Accounts

Li Chun 2019 (4 Feb) – When is the Best Date & Time to Deposit Money?

li chun 2019 deposit money guide

Clara Lim

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You might not know it by its name, but surely you’ve noticed snaking queues at cash deposit machines on a particular day around Chinese New Year. This date is called Li Chun (立春), and depositing cash has become quite a Singaporean tradition in the past few years.

According to some fengshui master or other, Li Chun is supposedly an auspicious day for you to deposit money in your bank account.

If you’re wondering when, where and why Li Chun 2019 is all about, here’s a dummies’ guide. (Read all the way to the bottom for advice on how you can ACTUALLY make money with your money for Li Chun!)

 

Now wait just a minute, what in the blazes is Li Chun (立春)?

For the benefit of anyone who isn’t Chinese, is Chinese but studied in ACS, or is simply a potato, I’ll briefly explain Li Chun (Chinese: 立春) in this section.

Li Chun is a date on the Chinese calendar that signifies the beginning of spring. This date often falls around Chinese New Year, although the date of CNY can actually be before or after Li Chun.

This year, Li Chun falls on 4 Feb 2019. That happens to be the day before Chinese New Year on 5 Feb 2019, but that’s a coincidence.

Okay, so now you’re wondering what this date has to do with depositing money at the ATM, right?

I don’t have any answer for you, other than that fengshui works in mysterious ways.

I mean, I can get why Li Chun is celebrated in China, since agriculture was a significant part of the country’s history. But in Singapore, there are no seasons and our agriculture is limited to preschoolers planting bean sprouts in cotton wool.

Guess you could say we celebrate Li Chun by “planting” money in our bank accounts.

By the way, this whole queueing up at the ATM to deposit money is a totally new thing. It’s only been around for a few years. Don’t believe me, go ask your parents if they ever did such a thing when they were younger.

 

When should you deposit money? Li Chun 2019 date & time slots 

It’s not good enough to simply deposit cash at the ATM at any random time on 4 Feb 2019. You need to time your cash deposit endeavour in order to maximise your chances of “good fortune”.

For that reason, every publication in Singapore – whether it’s Lianhe Zaobao or International Fengshui Herald – will publish a cute chart showing you when, exactly, on 4 Feb you should deposit cash, based on your Chinese zodiac sign.

Unfortunately, there’s no consensus on the best timing (probably because the entire thing is totally fabricated?).

Here’s a Li Chun chart grabbed off the totally legit Fengshui Beginner. (Legend: HUAT AH! = most auspicious time to deposit cash. GOOD = also acceptable time)

Zodiac sign 11am to 1pm 1pm to 3pm 3pm to 5pm 5pm to 7pm 7pm to 9pm
Rat 鼠 HUAT AH! GOOD
Ox 牛 GOOD HUAT AH!
Tiger 虎 HUAT AH! GOOD GOOD HUAT AH!
Rabbit 兔 HUAT AH! GOOD HUAT AH!
Dragon 龙 GOOD GOOD HUAT AH! HUAT AH!
Snake 蛇 GOOD GOOD HUAT AH! HUAT AH! GOOD
Horse 马 HUAT AH! GOOD GOOD HUAT AH!
Sheep 羊 HUAT AH! GOOD GOOD GOOD
Monkey 猴 GOOD GOOD HUAT AH! GOOD
Rooster 鸡 GOOD GOOD GOOD
Dog 狗 HUAT AH! GOOD GOOD
Pig 猪 GOOD HUAT AH! GOOD GOOD

Here’s another chart for Li Chun 2019, this time from Way Fengshui. Notice that the best time for almost everyone happens to be lunch hour.

Zodiac sign 11am to 1pm 1pm to 3pm 3pm to 5pm 7pm to 9pm 9pm to 11pm
Rat 鼠 HUAT AH! GOOD
Ox 牛 HUAT AH!
Tiger 虎 GOOD GOOD GOOD
Rabbit 兔 HUAT AH! GOOD GOOD
Dragon 龙 HUAT AH! GOOD
Snake 蛇 HUAT AH! GOOD
Horse 马 GOOD GOOD
Sheep 羊 GOOD HUAT AH! GOOD
Monkey 猴 HUAT AH!
Rooster 鸡 HUAT AH!
Dog 狗 GOOD GOOD
Pig 猪 HUAT AH!

Also, according to Way Fengshui, Li Chun actually starts on 11.16am on 4 Feb and lasts till 11.16am on 5 Feb, which is why it’s still possible to huat if you do your cash deposit in the wee hours the next morning. See their Li Chun calendar for details on time slots after 11pm.

Anyway, my point is that there’s no single best cash deposit time, unless there’s a particular fengshui master you believe in.

 

Best savings accounts to open for Li Chun 2019

If you do plan to join the ATM queues on Chinese New Year eve, the least you can do in the meantime is to open a bank account that gives you a better interest rate than your old POSB savings account (0.05% p.a.).

Here are a few recommendations, depending on how much you plan to deposit.

Savings account Minimum deposit Realistic interest rate*
UOB One account $500 1.5% p.a. to 1.85% p.a. (w/ credit card spending + salary credit)
CIMB FastSaver $1,000 1% p.a.
DBS Multiplier $3,000 (no minimum for age 29 & below) 1.55% p.a. to 2.2% p.a. (w/ credit card spending + salary credit + investment)
Standard Chartered BonusSaver $3,000 1.98% p.a. (w/ credit card spending + salary credit >$3,000)
Citibank MaxiGain $70,000 Climbs monthly from ~1% p.a. to ~2.2% p.a.

*Some banks advertise higher rates than these, but they’re not realistic for plebs like you and me – read the fine print!

Read here for more about the highest interest savings accounts in Singapore.

Also, banks often roll out Li Chun promotions closer to Chinese New Year. Here are the ones I could find right now:

Li Chun promotion 2019 Amount to deposit Reward
OCBC $10,000 $110 NTUC vouchers
UOB $15,000 Extra 1.2% p.a. interest
DBS $20,000 $180 ang bao
Maybank $20,000 Extra 1.7% p.a. interest for deposits in Feb
Citibank $25,000 $38 cash credit
UOB $138,000 Bonus 1.6% p.a. interest + gold-plated pig figurine

 

Other than deposit money, what else can you do for Li Chun 2019?

If you don’t want to burn your CNY eve queueing at the ATM with the entire population of Sengkang and Buangkok combined, you can still take part in the symbolic “seed sowing” ritual by putting your money into a foolproof investment rather a savings account.

Some suggestions:

Note that fixed deposits and Singapore Savings Bonds interest rates change every month, so you do need to check what the rates are in February for Li Chun.

In any case, since even fengshui masters aren’t convinced that Li Chun really works, these investments or a high-interest savings account might give you better odds of, you know, actually making money.

Will you be participating in the Li Chun 2019 madness? Tell us your opinion in the comments!

 

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Clara Lim

I used to be MoneyDumb. I hung out at H&M every day and thought that a $50 lunch set was a good deal. These days, I spend my time researching the crap out of life and trying to maximise utility on micro-decisions. I'm not sure if that's an improvement.