Posb savvy endowment good?

[sellbuyboy]

entry only $5k right?

 

[sellbuyboy]

entry only $5k right?

also. 3 years is ok for 3.65%?

 

[sglandscape]

also. 3 years is ok for 3.65%?

SGS 2y now at 3.68% so yes seems reasonable. The longer you go the lower the rate now due to inverted yield curve.

 

[dork32]

SGS 2y now at 3.68% so yes seems reasonable. The longer you go the lower the rate now due to inverted yield curve.

not only that, can count as insurance item for multiplier

 

[CaptainWu]

Do note applied to multiplier for 12 months only.

 

[dork32]

Do note applied to multiplier for 12 months only.

12 months later buy another 5k

 

[CaptainWu]

12 months later buy another 5k

Haha...may be Savvy 13 already but have to see the rate.

 

[sellbuyboy]

why multiplier only 12 months? isnt this a 36 month thingy?

Is it 12 month only for criteria in multiplier acct?

 

[CaptainWu]

why multiplier only 12 months? isnt this a 36 month thingy?

The plan is 36 months but DBS only count for 12 months on multiplier, why 12 months have to ask DBS

 

[sellbuyboy]

The plan is 36 months but DBS only count for 12 months on multiplier, why 12 months have to ask DBS

but that sum will still be "locked" and "pay" for 36 months right?

 

[CaptainWu]

but that sum will still be "locked" and "pay" for 36 months right?

Sorry don't understand your question. Savvy is one off payment right? For example you buy a sum of 12k then every month you will see 1k Insurance payment under Multiplier calculation for 12 months, there is no more deduction since payment has been done when you subscribed.

 

[a4973]

Sorry don't understand your question. Savvy is one off payment right? For example you buy a sum of 12k then every month you will see 1k Insurance payment under Multiplier calculation for 12 months, there is no more deduction since payment has been done when you subscribed.

He's saying "it's a 36 months endowment why only recognized in multiplier for 12 months".

 

[CaptainWu]

He's saying "it's a 36 months endowment why only recognized in multiplier for 12 months".

That I already answered that I don't know, its set by DBS. Its the 2nd question I am not sure what's asking.

 

[paurusu]

but that sum will still be "locked" and "pay" for 36 months right?

How long DBS recognize the contribution to the product and the mechanism of the product itself is not related.
The endowment itself is a lump sum single premium product. It is not monthly instalment product.

Regardless - DBS recognize only 12 months contribution of this single premium divided by 36 months (I assume? I dont have this policy so cannot comment for sure) . So yes it seems like you are " cheated" but then again it is up to DBS to define the correlation

 

[Avks9377]

Savvy 12 is closing soon. Given the lowing of FD and tbill rates, I think this one is relatively OK.

 

[sglandscape]

Savvy 12 is closing soon. Given the lowing of FD and tbill rates, I think this one is relatively OK.

3.65% guaranteed for 3y vs 3.7% for tbills seems reasonable.

Foe those who prefer flexibility SSB might be better

 

[ahchan]

Hi all,

For those who have bought the Savvy Endowment, how long does the Manulife takes to approve the policy?
I applied this morning and fund deducted immediately. The application screen just said that pending Manulife to review the policy...

And let's say if Manulife takes few days to review and start the policy, will the policy start date be today or the day where they complete the review process?

Thanks.

 

[Lè Crayons]

Hi all,

For those who have bought the Savvy Endowment, how long does the Manulife takes to approve the policy?
I applied this morning and fund deducted immediately. The application screen just said that pending Manulife to review the policy...

And let's say if Manulife takes few days to review and start the policy, will the policy start date be today or the day where they complete the review process?

Thanks.

I bought the 2-year Savvy Endowment 13 in Dec last year. My application was approved instantly and I received the policy via email. Start date was the date I submitted the application.

 

[CaptainWu]

Savvy16 is out with guarantee 3.4% for 3 years. Non-guarantee bonus 0.14%. Seems not too bad though 3 years bit long to me. Any other endowment plan in the current market with better yield?

 

[Joseph99]

Can savvy16 be counted as insurance for posb cashback bonus ?