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Lastest S$ Deposit updates - Part 3

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Old 09-08-2017, 04:14 PM   #736
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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.

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Old 09-08-2017, 04:30 PM   #737
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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.
What about the Etiqa one?
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Old 09-08-2017, 06:21 PM   #738
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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.

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Old 09-08-2017, 06:41 PM   #739
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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.
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/li...nce/eeasy-save

Last edited by raysdad; 09-08-2017 at 06:46 PM..
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Old 09-08-2017, 07:42 PM   #740
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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/li...nce/eeasy-save
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.

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Old 09-08-2017, 08:40 PM   #741
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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.
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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Old 09-08-2017, 08:55 PM   #742
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So far I have used.
  • POSB SAYE
  • Maybank ISavvy promo, the one that gives your 0.70% (for the next 2 months)+ 0.30%
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Old 09-08-2017, 10:18 PM   #743
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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...
Ha ha , you know them too well.
As for GE, I know they took a 10.8% cut in their projected maturity value for some policies during the last meltdown in 2008 ~ 2009.
Probably got burned by those highly toxic US housing CDO (Collateral Debt Obligations) instruments.
So, they didn't cut bonuses, but they did cut from the policyholders' underlying asset values. Nothing ingenious to boast about.

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Last edited by K202020K; 09-08-2017 at 10:21 PM..
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Old 09-08-2017, 10:47 PM   #744
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POSB does not have National Day deposit promotion this year?
Ya hor. So far any?
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Old 10-08-2017, 08:19 PM   #745
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none at the moment
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Old 10-08-2017, 08:20 PM   #746
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got may bank interest credited to saving account.
strange that why it is credited before maturity date?
it's 24months fd. and I placed early July got interest 25july.
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Old 10-08-2017, 08:41 PM   #747
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got may bank interest credited to saving account.
strange that why it is credited before maturity date?
it's 24months fd. and I placed early July got interest 25july.
some fd comes with interest payable upfront instead of at maturity date.
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Old 10-08-2017, 09:27 PM   #748
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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!
this product is at a strange spot. It has a 6 years tenure, shorter than SSB but without the flexiblity. Compared to citbank maxigain, it has a longer tenure, but the 2% is guaranteed for 6 years while maxigain is floating with the sibor rate

From my experience, my horizon changes every 3 years, so this 6 year is a very weird number
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Old 11-08-2017, 02:03 PM   #749
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https://www.fwd.com.sg/savings-and-i...ngle-Image_1x1

Try this 2.02% for 3 year endowment plan...but my fund is stuck for 3 mth in HSBC advance.

I will be back after 3 mth if fwd still exist.

Last edited by merlot6230; 11-08-2017 at 04:58 PM..
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Old 11-08-2017, 03:15 PM   #750
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https://www.fwd.com.sg/savings-and-i...ngle-Image_1x1

Try this 2.2% for 3 year endowment plan...but my fund is stuck for 3 mth in HSBC advance.

I will be back after 3 mth if fwd still exist.
2.02%...nice try!
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