Hope to see feebacks, thank you
I wondered why that alot of you here are parking your money in Banks. Just wondering the reasons why you guys and gals here are relying so much on banks?
There are other companies who are also approved like MAS beside banks, today Insurance compaines are also operating like banks, unlike the past.
I can see that some of you guys are having savings plans with Maybank and Stand Chart. Im from prudential and i know that these 2 banks are actually carrying PRU products. Why you bros here prefer to park your money in banks and enjoy no service rather than placing your money with insurer companies. Here you are appointed to a dedicated financial consultant to answer your whatever help and queries in anytime.
Bank interest rate or SIBOR always vary depend on economy performance. Maybe you do not know, but just wanna say everyone money like yours and mine that is saved in banks are used to by banks to do lending, loans and investments. Here, banks bear all the risk of investment failures and bad economy and inturn loss of money, thats why banks interest is always low. Today due to subprime disaster, almost all banks are pumping money to remedise this problem. And there is why a gradual downfall of interest rate.
Just sharing product knowledge
For our saving plans we have 3% and above.
Life insurance cum investment plans average 9 - 14%
Lump sum investment or CPF investment is too lengthy and i shall not elaborate here.
Overall i believe these returns should be better than 1-3% interest you guys are receiving.
On top of that we provide much better pre and after sales customer service.
To those who are interested you may message me your contact, or if you feel unconfortable we can exchange email address or MSN.
And beware, do not anyhow get involved with long term saving, insurance and financial sessions with people. Honestly said, in the insurance industry, the turnover rate is very high. This is due to different level of training from certain agencies, and thus lack of customer service and knowlege that can be provided from the advisors. My sincere advice here is just to remind you guys in case of wanting to look for savings or insurance plans, please consider properly the person not the product.
Finally no oblgations, im not trying to boast or "haolian" bout myself or wad.
Just here for some sharing.
Plz dun flame me hor.. thx.
Sure there are bros here demanding for guaranteed returns and how good it is.. BUT DO YOU THINK GUARANTEED IS GOOD? ANSWER IS NOT!
yes you are right, insurance is mostly on projection returns.... which is the 9-14%, and do you know for the pass 3 years, the returns is always more than 3% for savings and 5% for insuance ilps?
Banks savings plans are also based on projected returns?
Ultimately, no matter what, just think whether would an orgn who has networth equivalent of the TOTAL of " [(DBS + OCBC + UOB) x10 ]" will offer a lower result than local orgnz ?
And on top of that, just do a comparisons at any time, did the banks int rate ever beat the one insurance coms are giving?
For the 3% savings plans, they are almost 99% guaranteed returns. And on top of that, when prudential makes money, you would be receiving extra dividends. And much more goodies i shall not describe here.
Can i say that alot of bros here has the perception like you and don't want to even take a 2nd look on what the insurer com. are offering?
No offence just want to share.
And i believed you had a very wrong idea about insurance com. meaning of projected interest...
Projected Interest Is a very good thing. Exp 2 years ago the projected int is 3% and inflation in singapore is around 2.5%.
Today, do you want the interest to be the same as 3% and matching with the inflation of 4.5%?
Projected Interest is the change of interest in relevant to the economy. Ultimately a person's plan in taking up a savings plan is to create value in their money and beats DEPRECIaTION! So, if our so call PROJECTED INTEREST can go down below bank standards or even near to bank standards, Then what competitive edge do we have.
Further more sincerely speaking, there is no 1 year that ever the REAL interest or return for a year been lower than the projected 3% and 5% for insurance plan. Maybe only on 1997, when the whole world is under depression. Watever it is, insur com can offer a int/yr at 1%, i think at the point of time, bank is offering 0.01%.
I resisted the want for a car and only decided to buy when my family circumstances changed.
..(divided into several funds es: rent, food, parents, invest,sports,medical etc - calculate in excel, do that with percentage)
