Lastest S$ Deposit updates - Part 3

lzydata

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Year End Savings Festival

For new accountholders

From now till 31 Dec 2021, receive up to S$150 cash credit* when you sign up for any eligible UOB savings account online, deposit fresh funds and register your participation in the UOB Year End Savings Festival.

Incremental Fresh Funds Amount (measured against September 2021 MAB)Cash Credit Amount
S$5,000S$50
S$100,000S$150


Incremental Fresh Funds of $5k are not earmarked but must be deposited and maintained until the 15th of the next month.

Incremental Fresh Funds of $100k must be earmarked. For example, if the deposit is made in 1-31 October, the earmark end date is 16 February 2022, so about 3.5 months+.

Existing accountholders can also get $100 cash credit with at least $100k incremental fresh funds.
 

~sabaisabai~

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Incremental Fresh Funds of $5k are not earmarked but must be deposited and maintained until the 15th of the next month.

Incremental Fresh Funds of $100k must be earmarked. For example, if the deposit is made in 1-31 October, the earmark end date is 16 February 2022, so about 3.5 months+.

Existing accountholders can also get $100 cash credit with at least $100k incremental fresh funds.
$150 cash credit for 100k fresh fund for 3.5mths?
 

multijesture

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Are endowment plans good? i have been putting money in fixed deposits. but uob n dbs will always call me to pursuade me to buy these regular savings plan where i have to put in at least $800/month, and can only cash out after like 30 years.

their argument is that im losing alot of potential interest, but i feel that there is a lack of liquidity if my money is locked up with them

i also realised that there doesnt seem to be any threads here on endowment plans

any advice?
 

vsvs24

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Are endowment plans good? i have been putting money in fixed deposits. but uob n dbs will always call me to pursuade me to buy these regular savings plan where i have to put in at least $800/month, and can only cash out after like 30 years.

their argument is that im losing alot of potential interest, but i feel that there is a lack of liquidity if my money is locked up with them

i also realised that there doesnt seem to be any threads here on endowment plans

any advice?
Stay away from bankers and insurance agents. Never believe them.

Don't go for endowment as they are long term and the rates are not guaranteed.

Can consider those single premium ones which are guaranteed if you ok with 2 or 3 years because now better than FD rates.
 

~sabaisabai~

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Are endowment plans good? i have been putting money in fixed deposits. but uob n dbs will always call me to pursuade me to buy these regular savings plan where i have to put in at least $800/month, and can only cash out after like 30 years.
their argument is that im losing alot of potential interest, but i feel that there is a lack of liquidity if my money is locked up with them
i also realised that there doesnt seem to be any threads here on endowment plans
any advice?

yeah u can consider short term 2-3 years single premium such as GE SP Series 4 or NTUC gro capital
 

doratch

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Are endowment plans good? i have been putting money in fixed deposits. but uob n dbs will always call me to pursuade me to buy these regular savings plan where i have to put in at least $800/month, and can only cash out after like 30 years.

their argument is that im losing alot of potential interest, but i feel that there is a lack of liquidity if my money is locked up with them

i also realised that there doesnt seem to be any threads here on endowment plans

any advice?

I have just opened a SRS a/c with DBS. I used the SRS funds to buy the single premium endownment plan (Savvy 5).
 
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Incremental Fresh Funds of $5k are not earmarked but must be deposited and maintained until the 15th of the next month.

Incremental Fresh Funds of $100k must be earmarked. For example, if the deposit is made in 1-31 October, the earmark end date is 16 February 2022, so about 3.5 months+.

Existing accountholders can also get $100 cash credit with at least $100k incremental fresh funds.
$5000 need to be new account? Exisiting account can take part?
 

Zubuto

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Back in Feb they had a promotion where if you open new account with 5K and keep for 6 months, you get $80. After 6 months, I enquired with their CSO regarding this $80. You know what? The CSO told me, oh the promotion is only limited to the first 200 new accounts opened each day and if eligible, will be credited only in mid Oct. I should have known better than to trust this bank.


Incremental Fresh Funds of $5k are not earmarked but must be deposited and maintained until the 15th of the next month.

Incremental Fresh Funds of $100k must be earmarked. For example, if the deposit is made in 1-31 October, the earmark end date is 16 February 2022, so about 3.5 months+.

Existing accountholders can also get $100 cash credit with at least $100k incremental fresh funds.
 

lzydata

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$5000 need to be new account? Exisiting account can take part?
For existing accountholders, it's $100k ;)

"For existing accountholders

Receive S$100 cash credit* when you deposit at least S$100,000 in incremental fresh funds into any eligible UOB savings account and register your participation in the UOB Year End Savings Festival."
 

doratch

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Hi doratch, can you share why you use SRS over cash to buy the plan? Thanks!

I need to transfer money into SRS for tax relief.

I have already hit my FRS in CPF SA last year. So, the other way to reduce tax, is to transfer money into SRS a/c.
 
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