POSB investsaver

[teehee93]

Hi all, I just found out recently about the POSB investsaver, where you make fixed deposits as low as $100/month to purchse stocks from NIKKO AM SIT ETF. I am personally quite interested in this but I need to know a bit more before I dive into it.

The reason I am asking here is because the information stated on the website is quite limited.

1)

how is the purchase price per month determined?

2) lets say after 1 yr, I decide to liquidate all my units into cash, how do they determine the cost of each unit?

 

[makav31i]

There is a thread on this here:

http://forums.hardwarezone.com.sg/stocks-shares-indices-92/posb-invest-saver-4309151.html

For both one and two, it depends on the bank and the bank reserve the right to buy and sell it at the day high or low...I can't remember the exact words they used in the terms and conditions but that is basically the bank trying to cover their back saying they could buy and sell at a fair time or on the high low or average of the day...