Lesson learned - Just to share

[kyteo79]

5 years ago - open 2 structured deposits which is linked to Singapore top 5 performers. Yesterday got a mailer from OCBC which the average returns from these companies is -24.x% (yes minus / negative 24 percent) which back then was marketed as up to 4-7% possible bonus interest returns ?

so basically 5 years my money wasting their time there ...

I reckon will expect same from OUB this year dec 2016 (which is a 6 years structure deposit.

No buying of these stupid products in future for me. Lucky principal money not burnt but to me money can get better returns with other products...

Lesson learnt.


1 Guaranteed interest will be paid yearly for each year of the tenor, except for the last year, only if the structured deposit has not been withdrawn.
2 The bonus interest will depend on the performance of the underlying basket and the participation rate and could accordingly be zero.
3 The 100% principal guarantee is applicable only upon maturity of the structured deposit in its denominated currency. If the structured deposit is withdrawn before maturity date, the redemption amount may be less than the principal amount.

 

[y2j_chan]

Which r the Top 5 performers?

 

[kyteo79]

Which r the Top 5 performers?

need to go home find the letter to see the unlucky singapore companies ...

the usual suspects
singapore telecom
singapore press holding
ST technology
Singapore XXX ?
Singapore XXX?

Anyway no point crying over spil milk ... just a lesson learnt.
money earn less no big deal. time loss and opportunity wasted is big deal.

 

[arigatoast]

5 years ago - open 2 structured deposits which is linked to Singapore top 5 performers. Yesterday got a mailer from OCBC which the average returns from these companies is -24.x% (yes minus / negative 24 percent) which back then was marketed as up to 4-7% possible bonus interest returns ?
.

minus 24 %??? omg!. machiam tio summon....

anyway thanks for sharing

 

[Perisher]

structured deposits or whatever investment products are proven not to beat market returns over the long term...
Just saying.

 

[champagne_0910]

does your structured deposit have a triggering clause.. like a time trigger or something where the deposit must be liquidated?

 

[frenchbriefs]

u are just being too short term oriented...tell them u want to leave the structured deposit open for another 25 years....then tell them you want to double down/martingale your losses whenever it drops by 10 percent.......if theres not enough money in your checking account,tell them to use your cpf....then again singapore company stocks are crap so i would tread carefully.

and i dunno whats the point of chasing after the top 5 performers in singapore,which basically mean u are chasing after very expensive stocks which have very high p/e cause they are flavour of the month,which means ur most likely overpaying for crap.

 

[doody_]

This is like gambling at the casino? If you give it another 5 years, it might be +24% instead. It happens you went in at a poor time and was forced out early.

 

[Strikk]

Im new to this, some questions.
-24% means -24% off the initial money put in?
I put in 100 bucks, 5 years later get bacn 76?

 

[wts2013]

hahaha never let the bank con u into structured deposits in future, if u dun understand how it works, stay out lor, unless u lucky enough the bank do an early redemption so u might make some money, dun bank on this type of luck lor, stay out lor, hahaha

 

[peterchan75]

@ts,
This is for sure ! That person who sold you the plan... er... well groomed lady or chap is no longer there ! Well... wait till the STI bottom out... not that I can tell the future... then park some of your money in STI ETF.

 

[aoptionwriter]

I do weakly remember this product when they advertised it.

Sound good at that point of time.

5 years ago - open 2 structured deposits which is linked to Singapore top 5 performers. Yesterday got a mailer from OCBC which the average returns from these companies is -24.x% (yes minus / negative 24 percent) which back then was marketed as up to 4-7% possible bonus interest returns ?

so basically 5 years my money wasting their time there ...

I reckon will expect same from OUB this year dec 2016 (which is a 6 years structure deposit.

No buying of these stupid products in future for me. Lucky principal money not burnt but to me money can get better returns with other products...

Lesson learnt.


1 Guaranteed interest will be paid yearly for each year of the tenor, except for the last year, only if the structured deposit has not been withdrawn.
2 The bonus interest will depend on the performance of the underlying basket and the participation rate and could accordingly be zero.
3 The 100% principal guarantee is applicable only upon maturity of the structured deposit in its denominated currency. If the structured deposit is withdrawn before maturity date, the redemption amount may be less than the principal amount.

 

[kyteo79]

minus 24 %??? omg!. machiam tio summon....

anyway thanks for sharing

I got semi yearly low interest ...

However it is the final year i get nothing ... like used and ditch ...
like a beggar ...

no more of such things ... nevermind learn ...

 

[kyteo79]

structured deposits or whatever investment products are proven not to beat market returns over the long term...
Just saying.

So they are cheating ?

Thats why now insurance companies are suggest to prove guaranteed returns and not projected returns ?

 

[kyteo79]

does your structured deposit have a triggering clause.. like a time trigger or something where the deposit must be liquidated?

no leh ... 5 yrs ocbc

uob is 5 yr 11 months (or 6 years lah) at least this one is still in their website showing what was their promises back then ...

OCBC one no longer showed and to me is a disappointment since every year get 1-2% interest and last year(dec 2015) S$0 dollar ...

Hope UOB is different.

Just hope ...

 

[kyteo79]

u are just being too short term oriented...tell them u want to leave the structured deposit open for another 25 years....then tell them you want to double down/martingale your losses whenever it drops by 10 percent.......if theres not enough money in your checking account,tell them to use your cpf....then again singapore company stocks are crap so i would tread carefully.

and i dunno whats the point of chasing after the top 5 performers in singapore,which basically mean u are chasing after very expensive stocks which have very high p/e cause they are flavour of the month,which means ur most likely overpaying for crap.

It is sold that way boss ... lucky small investment to see how the machine reacts ..

Guru, i cant negotiate with the bank .. not 1 million club ..

 

[kyteo79]

This is like gambling at the casino? If you give it another 5 years, it might be +24% instead. It happens you went in at a poor time and was forced out early.

Possible true as well ...

Just voicing lessons learnt only ... hope others time it good ...

 

[kyteo79]

Im new to this, some questions.
-24% means -24% off the initial money put in?
I put in 100 bucks, 5 years later get bacn 76?

nope capital guranteed ...

returns is ???

 

[kyteo79]

hahaha never let the bank con u into structured deposits in future, if u dun understand how it works, stay out lor, unless u lucky enough the bank do an early redemption so u might make some money, dun bank on this type of luck lor, stay out lor, hahaha

Thanks guru advise ...

let me know if any good lobang .. keke

 

[kyteo79]

@ts,
This is for sure ! That person who sold you the plan... er... well groomed lady or chap is no longer there ! Well... wait till the STI bottom out... not that I can tell the future... then park some of your money in STI ETF.

Where can i get info on STI etf ?
How do i do it ?