Lastest S$ Deposit updates - Part 3

[vsvs24]

If you scared just don't buy. The word guaranteed maturity yield seem not ok to you then avoid. I interpret as worst is 3.92. Best is 3.92 + 0.08

Because it seems the 3.92% guaranteed is based on the lower illustration of 3%.

Then they say illustrated return rates are not guaranteed. So I am not sure in the event if the actual performance is less than 3%, will they still guarantee 3.92% ?

I bought 5k aready. But the actual policy document is not any clearer. So won't buy more.

GE SP 10 which I also bought is clearer and straight forward because they don't have a non-participating portion.

 

[Cryophoenix]

Promotional SGD Time Deposit New and existing HSBC Customers
3-month 3.80% p.a.
6-month 3.60% p.a.
12-month 3.10% p.a.

https://www.hsbc.com.sg/accounts/products/time-deposit/
6 and 12 months offer rates cut. HSBC's minimum is $30k.

The longer the tenure, the lower the rate. Jin satki man.

 

[gobin74]

HL still 4.1% for 6 months. but need to open their iSavings?

hi how long and process to open isavings account ? can all be done thru internet or mobile banking plz

thnx

 

[ckong8]

Sure, understand
how about SBI? 4%

Heard from branch manager that rate will be dropping to 3.75% from Monday onwards

 

[banyan8]

HL still 4.1% for 6 months. but need to open their iSavings?

Min 500k for 4.1% (and 100k for 4%) far exceeding FDIC coverage.

 

[konan~]

Min 500k for 4.1% (and 100k for 4%) far exceeding FDIC coverage.

RHB and Maybank min $20K at 3.90% very good. Can do 3x$25K to meet the SDIC target. Can do joint TD account also for 2xSDIC of $150K.

 

[limjohnny]

Any promo code to share for this savvyendowment? Thks!

No need ba

 

[Compfix]

thank you..

 

[~sabaisabai~]

Heard from branch manager that rate will be dropping to 3.75% from Monday onwards

so today last day liao
you went to place today?

 

[ckong8]

so today last day liao
you went to place today?

May try Little India Branch which is open on Sunday if interested

 

[FD Trinitron]

Because it seems the 3.92% guaranteed is based on the lower illustration of 3%.

Then they say illustrated return rates are not guaranteed. So I am not sure in the event if the actual performance is less than 3%, will they still guarantee 3.92% ?

I bought 5k aready. But the actual policy document is not any clearer. So won't buy more.

GE SP 10 which I also bought is clearer and straight forward because they don't have a non-participating portion.

I read this sianz ler, I bought 50k

 

[vsvs24]

I read this sianz ler, I bought 50k

Please note that the guaranteed maturity benefit of your policy may be less than the total premium paid.

Wah. Means capital not guaranteed ? Worse than I thought.

There is a free lookout period of 14 days. Can cancel if you are not comfortable and within this 14 days. Might be better to cancel and put in 12 mth FD for 3.9%.

I am still thinking whether to cancel my 5k.

 

[FD Trinitron]

Please note that the guaranteed maturity benefit of your policy may be less than the total premium paid.

Wah. Means capital not guaranteed ? Worse than I thought.

There is a free lookout period of 14 days. Can cancel if you are not comfortable and within this 14 days. Might be better to cancel and put in 12 mth FD for 3.9%.

I am still thinking whether to cancel my 5k.

Mine already over the 14 days, think you can cancel.

 

[vsvs24]

Mine already over the 14 days, think you can cancel.

Just hope for the best then.

 

[oceanicmanta]

I read this sianz ler, I bought 50k

may i know where u get this para ?

From ManuLife website, it is written as

"Footnotes

1. Based on the higher illustrated investment rate of return of 4.25% p.a., the total illustrated yield at maturity is 4.00% p.a., which consists of a guaranteed maturity yield of 3.92% p.a. and a potential non-guaranteed maturity yield of 0.08% p.a.

Based on the lower illustrated investment rate of return of 3.00% p.a., the total illustrated yield at maturity is 3.92% p.a., which consists of a guaranteed maturity yield of 3.92% p.a. The potential non-guaranteed maturity yield will be zero.

The bonus rate and the illustrated investment rate of return are not guaranteed and will depend on the future performance of the Participating Fund of the policy. Figures are subject to rounding.

2. Not applicable to policies that have been altered.

3. Based on the higher illustrated investment rate of return of 4.25% p.a., the potential non-guaranteed maturity bonus is 0.17% of the single premium.

Based on the lower illustrated investment rate of return of 3.00% p.a., the potential non-guaranteed maturity bonus will be zero.

The bonus rate and the illustrated investment rate of return are not guaranteed and will depend on the future performance of the participating Fund of the policy. Figures are subject to rounding."

The brochure also says Capital Guaranteed, so that para is clearly contradictory.

DBS website promoting this product also does not have that para.

 

[FD Trinitron]

Just hope for the best then.

Han nor, bo bian.
Next time got to be very careful with these endowment plan.

 

[FD Trinitron]

may i know where u get this para ?

From ManuLife website, it is written as

"Footnotes

1. Based on the higher illustrated investment rate of return of 4.25% p.a., the total illustrated yield at maturity is 4.00% p.a., which consists of a guaranteed maturity yield of 3.92% p.a. and a potential non-guaranteed maturity yield of 0.08% p.a.

Based on the lower illustrated investment rate of return of 3.00% p.a., the total illustrated yield at maturity is 3.92% p.a., which consists of a guaranteed maturity yield of 3.92% p.a. The potential non-guaranteed maturity yield will be zero.

The bonus rate and the illustrated investment rate of return are not guaranteed and will depend on the future performance of the Participating Fund of the policy. Figures are subject to rounding.

2. Not applicable to policies that have been altered.

3. Based on the higher illustrated investment rate of return of 4.25% p.a., the potential non-guaranteed maturity bonus is 0.17% of the single premium.

Based on the lower illustrated investment rate of return of 3.00% p.a., the potential non-guaranteed maturity bonus will be zero.

The bonus rate and the illustrated investment rate of return are not guaranteed and will depend on the future performance of the participating Fund of the policy. Figures are subject to rounding."

The brochure also says Capital Guaranteed, so that para is clearly contradictory.

After made payment, ManuLife emailed this document.

 

[oceanicmanta]

After made payment, ManuLife emailed this document.

I see. If me, I would write in to ManuLife and ask them to explain and rectify.

that kind of wording is usually for those non guaranteed plans.

Clearly contradictory.

 

[a4973]

After made payment, ManuLife emailed this document.

Feels like bait and switch.

 

[vsvs24]

Han nor, bo bian.
Next time got to be very careful with these endowment plan.

Keep brochures and also keep screen shots of DBS/Manulife where they indicated capital guaranteed and 3.92%.

At maturity if really bad, go to Fidrec.