Saving Plan

[slapshocked]

Any reccomendation for saving plan? Anything good from POSB or any auto deduct from posb to saving plan?

 

[chopra]

term plan, travel insurance, accidental insurance = insurance
life/endowment/savings plan/kids education = insurance plus fixed return investment in bonds etc
ilp = insurance plus variable investment in a mixed of bonds and stocks.

Only fools buy such plans. hefty commission.

ilp, life, endowment, kids education plan, savings plan are essentially the same thing, with different weightage in bonds and equity. Pretty marketing to come out with these terminologies, u get it?

agents will ask you to pm and discuss because they dont want you to know the truth. you should read more sticky threads here.

buy term invest the rest.

 

[blurblur123]

cimb saving plan is good.

 

[derrickgoh]

OCBC used to have a monthly savings account with quite good interest rate but no more liao. Found out when they called to remind me that my 3 years is up but no more MSA so they tried to sell me some other stuff.

 

[slapshocked]

Hi chopra,

Thank you for the explanation. You mention term plan anything to intro?

 

[micromousez]

OCBC used to have a monthly savings account with quite good interest rate but no more liao. Found out when they called to remind me that my 3 years is up but no more MSA so they tried to sell me some other stuff.

still hav MSA: Flexible Monthly Savings Account | Savings Account | OCBC

but the interest rate not good anymore

 

[chopra]

Hi chopra,

Thank you for the explanation. You mention term plan anything to intro?

there's a term thread. just quote there or in this thread. agents will be more than happy to pm you. tan kin lian, our dearest btir spokesperson suggests aviva.

 

[bigmice]

saving plan good or not depended on you investment skill, if you have confident to earn more than 4% per year, then buy term invest yourself is the best choice, other wise can think some saving plan.

 

[slapshocked]

there's a term thread. just quote there or in this thread. agents will be more than happy to pm you. tan kin lian, our dearest btir spokesperson suggests aviva.

Mind give ne the link to the term thread you mention?

 

[chopra]

http://deluxeforums.hardwarezone.com.sg/money-mind-210/term-insurance-3885410-4.html

 

[OCBC Bank]

Any reccomendation for saving plan? Anything good from POSB or any auto deduct from posb to saving plan?

Hi there. We are currently offering Monthly Savings account flexible plan. Monthly contribution amount is $50 - $5,000. You will need to indicate your preferred amount while applying for this account. The interest rates earned is higher than a regular savings account.

Here are the interest rates:
Amount | Interest rates (if no withdrawal made in the month) | Interest rates (if withdrawals made in the month)
Any amount | 0.40% per annum | 0.10% per annum


^Eric
For OCBC Bank

 

[sgtsickox]

term plan, travel insurance, accidental insurance = insurance
life/endowment/savings plan/kids education = insurance plus fixed return investment in bonds etc
ilp = insurance plus variable investment in a mixed of bonds and stocks.

Only fools buy such plans. hefty commission.

ilp, life, endowment, kids education plan, savings plan are essentially the same thing, with different weightage in bonds and equity. Pretty marketing to come out with these terminologies, u get it?

agents will ask you to pm and discuss because they dont want you to know the truth. you should read more sticky threads here.

buy term invest the rest.

ILP objective is not really for people that are looking for saving plans because cash value depends solely on price of funds.

However ILP can get you higher coverage for Death,TPD,CI, with cash value.

I do agree that if you have investment knowledge, just get a term plan for yourself and invest the rest. Much more flexible.

In life, we only need to get 3 things.
1. Shield plan
2. Whole life plan
3. Pure Investment (which I believe currently Gold and Sliver for now)

 

[sgtsickox]

Hi chopra,

Thank you for the explanation. You mention term plan anything to intro?

Can consider AIA Secure Critical Cover, it has CI coverage also.

 

[derrickgoh]

still hav MSA: Flexible Monthly Savings Account | Savings Account | OCBC

but the interest rate not good anymore

Wah 0.4% so low. Might as well get the CIMB Starsaver for 0.8%.