FYI, Great eastern launching 2year single premium endowment with guaranteed 1.8%pa return, on 5 May.
May not be as good as other 3yr endowment by other insurer, but a good alternative for 2yr of money being locked in.
What's the plan's name?
FYI, Great eastern launching 2year single premium endowment with guaranteed 1.8%pa return, on 5 May.
May not be as good as other 3yr endowment by other insurer, but a good alternative for 2yr of money being locked in.
Maybe, but they have been having single premium a few times every year.Probably to redeem the GE205 that is maturing end Sep 2020.
Minimum usually $10kHow much minimum?
FYI, Great eastern launching 2year single premium endowment with guaranteed 1.8%pa return, on 5 May.
May not be as good as other 3yr endowment by other insurer, but a good alternative for 2yr of money being locked in.
FYI, Great eastern launching 2year single premium endowment with guaranteed 1.8%pa return, on 5 May.
May not be as good as other 3yr endowment by other insurer, but a good alternative for 2yr of money being locked in.
If I'm wrong please correct me. SDIC only protect surrender value and not principle amount. On top of that, if you break the FD likely only forego the interest amount and not capital. If during emergency u need fund it's more feasible to break FD than Insurance. But it also depends of individual bank's policy. Do check with the bank b4 put FD with the bank.
For a while DBS/POSB had the best FD rate for 12 months, 1.40% pa. Now that's over
(up to $100k)
10-11 months: 1.10% pa
12 months: 1.15% pa
18 months: 1.30% pa
https://www.dbs.com.sg/personal/rates-online/singapore-dollar-fixed-deposits.page
Now DBS fixed deposit max 11 mths.
Yesterday, go to branch and put 18mths, this morning DBS called me to cancel. Refused, but they die die also cancel and put the money into my saving acct.
Don't know can complaint or not. Anyhow can cancel confirmed transaction.
Now DBS fixed deposit max 11 mths.
Yesterday, go to branch and put 18mths, this morning DBS called me to cancel. Refused, but they die die also cancel and put the money into my saving acct.
Don't know can complaint or not. Anyhow can cancel confirmed transaction.
FYI, Great eastern launching 2year single premium endowment with guaranteed 1.8%pa return, on 5 May.
May not be as good as other 3yr endowment by other insurer, but a good alternative for 2yr of money being locked in.
As mentioned by some helpful ppl here, SDIC PPF covers only the surrender value at point of failure, not your premiums paid.
this is shocking but useful info
tiq unlikely to close down hor?
In the event the life insurer fails, MAS has a few options as to how it wants to deal with the failed insurer. MAS may transfer the business of the failed life insurer to another insurer, direct SDIC to continue to run the business of the failed insurer (run-off) or terminate the policies (least preferred option) issued by the failed life insurer. A combination of options may be adopted for the entire business of the failed life insurer.
That's not ethical. Did they give you any FD slip ?
Yes. Not happy with the cancellation but don't have a choice since I am not a lawyer. DBS told me 18mths is a mistake and they have the right to cancel it or change to 11mths.
Yes. Not happy with the cancellation but don't have a choice since I am not a lawyer. DBS told me 18mths is a mistake and they have the right to cancel it or change to 11mths.
Why is that a mistake?? Did they quote you a higher interest rate than what was advertised?
It appears that they are still advertising FD for 12 months and 18 months on their website. If the webpage has wrong information, then they should remove it asap.
Yes. Not happy with the cancellation but don't have a choice since I am not a lawyer. DBS told me 18mths is a mistake and they have the right to cancel it or change to 11mths.
It really depends on what on the fine prints which usually is one-sided. Anyway, aside from FIDREC, I find the social media can be an effective way to get them to offer a resolution.