easybook offer 7% interest

[livingston]

Hi,

Refer to the above, easybook offer 7% interest, it seem too good to be true, please give your advise?

https://www.easybook.com/en-sg/account/login

 

[imwarren]

1) that's basically an unsecured loan. If easybook defaults or dispute, bye bye

2) There is a "withdrawal fee" which would eat into your interest

 

[yiron]

To the fullest extent permitted by the law, withdrawal of the e-Cash from Your Easybook Wallet to Your personal banking account is permissible up to two (2) convenient withdrawals only per month EXCEPT for any cash rebates, rewards, cash back and/or such other repayments which are granted and rewarded to You under any marketing promotional events that organised by Us (collectively “Promotion Rewards”). All Promotion Rewards are not allowed for withdrawal.

The 7% interest can't be withdrawn? Only the principal amount can be withdrawn, and not the 7% "cash bonus"?

And like what imwarren mentioned, you are subject to the credit risk of EasyBook. Unlike bank deposits, money in your EasyBook wallet is not covered under SDIC.

 

[BBCWatcher]

Refer to the above, easybook offer 7% interest, it seem too good to be true, please give your advise?

Hyflux offered only 6%, and 7% is more than 500 basis points above a SDIC protected fixed deposit, so what do you think?

 

[SBC]

Gaga hoot liao.

Can use CPF funds?