Gro Capital Ease Tranche

[Squaredot]

Latest 2.98%

recd the email too..cut and paste here for info only.

Gro Capital Ease is a 3-year single premium insurance savings plan which provides a maturity benefit of 109.21% at the end of the 3 years, with a guaranteed return of 2.98% p.a. What's more, no medical check-up is required and you can enjoy protection against death & total and permanent disability (TPD before age 70) during the term of the policy.

 

[xyun08]

Am helping my mom to decide between Income Gro Capital Ease and UOB FD which latest rate is 3% at 15 months .

which one will you all recommend ?

 

[item2sell]

Am helping my mom to decide between Income Gro Capital Ease and UOB FD which latest rate is 3% at 15 months .

which one will you all recommend ?

UOB FD.

If you withdraw GRO prematurely, you will confirm lose your capital.
One day after application, I checked my surrender value, I lose 20%.
Even withdraw on your last day of maturity, you are still losing money

 

[Squaredot]

Am helping my mom to decide between Income Gro Capital Ease and UOB FD which latest rate is 3% at 15 months .

which one will you all recommend ?

FD for flexibility..

 

[sohguanh]

UOB FD.

If you withdraw GRO prematurely, you will confirm lose your capital.
One day after application, I checked my surrender value, I lose 20%.
Even withdraw on your last day of maturity, you are still losing money

Thanks for sharing on UOB FD.

For CIMB FD, yesterday I premature withdraw no penalty. As long as the FD has sit inside for more than 3 months they will pro-rate the interest else no interest and capital protected at all times. But con is getting through their hotline is so hard put on speaker mode for half an hour then get through. Think a lot of ppl open new account and same as me FD premature withdraw

 

[bargin]

Maybank 3% 12m min 20K

 

[sohguanh]

Maybank 3% 12m min 20K

Yes but I think Maybank FD also premature withdraw early got penalty. Last time I saw some posts reader share. So far CIMB FD for me and other readers share is no penalty. Hope this is reference for other who like to hop around even before the FD maturity period is passed.

Of cuz if in future CIMB start to change the rules than yes FD premature withdraw early will have penalties. Let's hope it is not the case

 

[sohguanh]

Income Gro come back again. 3 year at fixed 2.98% p.a. At this moment anyone find it attractive? Maybe a few months back it will be but now? Hmmm....

Soar high in your savings and reach your financial goals with Gro Capital Ease!

Gro Capital Ease is a 3-year single premium insurance savings plan which provides a maturity benefit of 109.21%1 at the end of the 3 years, with a guaranteed return of 2.98% p.a.2 What's more, no medical check-up is required and you can enjoy protection against death & total and permanent disability (TPD before age 70) during the term of the policy.

Minimum single premium for online purchase starts from $10,000. You may also choose to purchase through a financial advisor representative with a minimum single premium of $20,000. The maximum single premium limit for each insured is $100,000.

For ease of online purchase, you can set up your My Income account (if you have not done so) before making the purchase. Find out how to set up your My Income account with our step-by-step guide here.

For ease of transaction, you may also consider adjusting your bank transaction limit prior to your application to suit your purchase preference. You can change your payment limit for PayNow QR here. Only payments via Supplementary Retirement Scheme (SRS) transfer, PayNow QR (excluding UOB) and eGIRO (for DBS/POSB customers only) are accepted for online purchases. Applications will be rejected for payments received through other methods.

 

[bargin]

Income Gro come back again. 3 year at fixed 2.98% p.a. At this moment anyone find it attractive? Maybe a few months back it will be but now? Hmmm....

Soar high in your savings and reach your financial goals with Gro Capital Ease!

Gro Capital Ease is a 3-year single premium insurance savings plan which provides a maturity benefit of 109.21%1 at the end of the 3 years, with a guaranteed return of 2.98% p.a.2 What's more, no medical check-up is required and you can enjoy protection against death & total and permanent disability (TPD before age 70) during the term of the policy.

Minimum single premium for online purchase starts from $10,000. You may also choose to purchase through a financial advisor representative with a minimum single premium of $20,000. The maximum single premium limit for each insured is $100,000.

For ease of online purchase, you can set up your My Income account (if you have not done so) before making the purchase. Find out how to set up your My Income account with our step-by-step guide here.

For ease of transaction, you may also consider adjusting your bank transaction limit prior to your application to suit your purchase preference. You can change your payment limit for PayNow QR here. Only payments via Supplementary Retirement Scheme (SRS) transfer, PayNow QR (excluding UOB) and eGIRO (for DBS/POSB customers only) are accepted for online purchases. Applications will be rejected for payments received through other methods.

Not attractive, Income Gro will tie you down for 3 years and there will be penalty for early withdrawal.
Interest rate going up north. Yesterday, two of the local banks announced house loan rate up north ! SSB already hit 3% for this month.

 

[sohguanh]

Not attractive, Income Gro will tie you down for 3 years and there will be penalty for early withdrawal.
Interest rate going up north. Yesterday, two of the local banks announced house loan rate up north ! SSB already hit 3% for this month.

You see SSB is not you daring daring hoot 100K you get it. T-Bill maybe so for some ppl want to diversify a bit so may want to consider this alternative. Personally for me, my previous SSB 10 years is sort of this Gro replacement. Will see how it goes.

 

[Cumzilla]

it is very very very bad penalty.

Even on the last day of maturity, you lose money if you terminate

The latest August tranche, the first day i buy $20000, I surrender, get back $16000

Was considering terminating this until I read your post, bought last year at a miserable 1.6%, guess have to hold this 'baby' for another 2years+.