highsulphur
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Lastest S$ Deposit updates - Part 3
- Thread starter hwzadmin
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Did you read carefully?
Re
You sure is safe ?? FWD insurance never heard this company before. Better invest with local insurance companies
You sure is safe ?? FWD insurance never heard this company before. Better invest with local insurance companies
oh i am sorry yes it does say 2.02% returns guaranteed
Honkong insurance company.
My FD with Maybank due today. Surprised they called me yesterday to offer to renew my FD at 1.4% for 1 year. No need fresh fund.
Went down today to renew it. Must fulfil their conditions:
1. Minimum of 50K FD
2. Must lock-in another 10% in Saving acct. Meaning locked in 5K on normal saving acct interest rate.
Ignoring the saving acct interest rate, effective interest rate for this FD is 1.27%
Terrible but lazy to move funds around.
Went down today to renew it. Must fulfil their conditions:
1. Minimum of 50K FD
2. Must lock-in another 10% in Saving acct. Meaning locked in 5K on normal saving acct interest rate.
Ignoring the saving acct interest rate, effective interest rate for this FD is 1.27%
Terrible but lazy to move funds around.
Darrel Mok
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Maybank : if enough people withdraw on maturity, they have no choice but to sweeten the deal. It's a question of who is more desperate for the money.
Sent from Nagasaki長崎, Japan日本 using GAGT
Sent from Nagasaki長崎, Japan日本 using GAGT
Looks like this is their ongoing promotion but they have waived the fresh funds requirement for you
http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx
Exactly.
First time in many years we dun have to make our funds fresh again.....
First time in many years we dun have to make our funds fresh again.....
Looks like this is their ongoing promotion but they have waived the fresh funds requirement for you
http://info.maybank2u.com.sg/promotion/deposits-banking/deposit-bundle.aspx
Glad someone brought this up. I was introduced similar products from Great Eastern. 84000 after 6 years is 1500 SGD per year interest using 75000 SGD. That's about 2% PA. Better than FD rate. Equal rates but Shorter Term than SSB. Assuming we already reach SA annual limit.
Is this an OK product to consider??
Someone here advised against such product but no reason given. Any one with a Good Reason why we should or should not take up such product?
Assuming we do not need this 75000 SGD for the next 6 years. Thanks!
At raysdad :
If I'm not mistaken, the yield for this investment by GE is now projected at 2.1% for new subscribers & 2.2% for existing, renewed subscribers. But the returns are not guaranteed, so could be any figure e.g. 0.6%.
The plus factor is the capital is 100% covered by SDIC, instead of only at $50k for bank deposits under SDIC insurance scheme.
However, the assets invested seems to be at an all time high so makes one wonder if there are further upsides to ride on.
NTUC Income should have similar offerings, with more attractive projected returns, as it is operated as a co-operative so the payback to shareholders are minimal as compared with a listed insurance company.
Sent from Nagasaki長崎, Japan日本 using GAGT
If I'm not mistaken, the yield for this investment by GE is now projected at 2.1% for new subscribers & 2.2% for existing, renewed subscribers. But the returns are not guaranteed, so could be any figure e.g. 0.6%.
The plus factor is the capital is 100% covered by SDIC, instead of only at $50k for bank deposits under SDIC insurance scheme.
However, the assets invested seems to be at an all time high so makes one wonder if there are further upsides to ride on.
NTUC Income should have similar offerings, with more attractive projected returns, as it is operated as a co-operative so the payback to shareholders are minimal as compared with a listed insurance company.
Sent from Nagasaki長崎, Japan日本 using GAGT
What about the Etiqa one?
Etiqa one I don't know as I only have the benefits illustration for GE's 5 years plan. But you have to look at their asset class allocation table, I don't think it is a savings type of instrument.
Some may invest in foreign markets, so there's an exposure to currency conversion risk.
Sent from Nagasaki長崎, Japan日本 using GAGT
Some may invest in foreign markets, so there's an exposure to currency conversion risk.
Sent from Nagasaki長崎, Japan日本 using GAGT
The Etiqa brochure says "Guaranteed total maturity benefits $84007" which got me to think about it. Yes, the 100k protection is a plus.
May park some here if the returns are fully guaranteed. Hoping for some violent objections from the forum to buying such products as I cannot see the down side here.
https://www.etiqa.com.sg/personal/life-insurance/direct-purchase-insurance/eeasy-save
Last edited:
Agree.
Sorry I was mistaken in my earlier reply, as I misunderstood that you were referring to GE's, when you were musing over the numbers.
I'm also very curious to know where is the catch. Maybe must buy one of their other investment products in order to qualify for Etiqa.
Sent from Nagasaki長崎, Japan日本 using GAGT
Yes the GE product is "projected".. and my agent will always tell us they are the only company which refunded during the mini bond crisis and they always pay the projected (else their directors would need to cut the bonuses too? )
I will update on this ETIQA product when my Maybank FD expires in Sept.. unless other forumers know if we need to purchase their other investment products (MAybank's usual tactics
) ... switching some to this...
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