Singlife 3% endowment plan

[blackvice]

No need to say sorry, though. Have checked and you're right, it's 9.27% at the end of 3 years. Guess you're getting $16.36 cents more then, under the assumption you're putting in $6000.

If it didn't mention simple interest, default would be compounded.

 

[blackvice]

my worry about this type of e-mail campaign is that it is susceptible to a phishing attack because no details are provided by SgLife so far on what is the 'official way' to apply once the tranche is open.

imagine if a phisher sends you an e-mail pretending to be SingaporeLife and telling you 'the tranche is open' and asking you to transfer $6k to XXX-XXX-XXX bank account by today to get the 3% rate. how do you know real or not?

Another alternative way would be a cheque issue.heh

 

[Panerex]

When is this closing? And how to apply?

 

[iwanthp]

Wah 3% so good! Wonder can trust or not the company :/

 

[maple96]

3% promo starts nov 26, before that is 2.2% so be careful, apply online on their website, u get back 109.27% on maturity at end of 3 years.

give u all my chance cos new internet co plus 6k only, goodluck

 

[Clone_]

Administrative charge

There could be some sales charge/withdrawal fee that is charged for each new policy / investment
product. The sales charge/withdrawal fee can be as high as 5% of your investment-linked fund.
Hence, on a single premium investment of S$10,000, a sales charge of S$500 would be deducted

https://faq.singlife.com/hc/en-sg/articles/360000512378-Application-for-Withdrawal-Surrender

5.2 Policy Owners’ Protection Scheme
This policy is protected under the Policy Owners’ Protection Scheme and is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme, as well as the limits of coverage, where applicable, please contact your adviser or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

https://faq.singlife.com/hc/en-sg/articles/360000589017-Endowment-Series-Three-Terms-and-Conditions

Is there anything to be afraid of if it's SDIC insured?

 

[SBC]

Interest rate is rising fast. 3% is nothing.

 

[limster]

Interest rate is rising fast. 3% is nothing.

better than SSB.... ?

 

[SBC]

better than SSB.... ?

SSB rates are locked down the moment you signed up?

 

[SBC]

better than SSB.... ?

SSB rates are locked down the moment you signed up?

 

[limster]

SSB rates are locked down the moment you signed up?

I was planing to apply for SSB this month. Should I get this instead?

 

[havetheveryfun]

I was planing to apply for SSB this month. Should I get this instead?

this one only can buy $6000 werth

 

[maple96]

Is there anything to be afraid of if it's SDIC insured?

Based on various comments in Hwz threads, most people here are applying SDIC rule incorrectly in my view.

In peace/safe time, people are worried to put more than 50k (current sdic ) even in local banks/qfb here. When a possible/potential crisis is coming , they use sdic or past crisis experience to say 150k deposit is ok.

I only apply sdic after other basic considerations/criteria had been met, if not I will not place my funds there. SIC is a last resort

 

[havetheveryfun]

Based on various comments in Hwz threads, most people here are applying SDIC rule incorrectly in my view.

In peace/safe time, people are worried to put more than 50k (current sdic ) even in local banks/qfb here. When a possible/potential crisis is coming , they use sdic or past crisis experience to say 150k deposit is ok.

I only apply sdic after other basic considerations/criteria had been met, if not I will not place my funds there. SIC is a last resort

so if u have 1million $ , keep 500k in khong guan biscuit tin in physical notes?

 

[BBCWatcher]

so if u have 1million $ , keep 500k in khong guan biscuit tin in physical notes?

On April 1, 2019, the SDIC limit will increase to $75,000. If you have $1 million in cash and cash equivalents, then yes, you can fairly straightforwardingly maintain that cash in a fully government insured way, especially if you have a spouse or partner. You would need 7 banks (and a spouse or partner) to do it come April 1, but it can be done.

....But then you can also have:

* $200K ($100K each) in Singapore Savings Bonds
* CPF assets (which are also creditor and court judgment shielded)
* Singapore Government Securities, including 12 month T-bills, with no practical holding limit
* ~$9,000 in the Temasek retail bond (if you did that)
* $6,000 in the Singlife 3% endowment plan (SDIC insured)
* if you’re willing to accept only currency risk, high quality foreign government bond holdings (such as U.S. Treasuries), which work extremely well if you have some upcoming spending overseas, such as a child’s U.S. or other country university tuition

Add some of those vehicles into the picture and you can, if you wish, park an enormous amount of wealth in very safe places. The yields will reflect that safety, of course.

 

[maple96]

so if u have 1million $ , keep 500k in khong guan biscuit tin in physical notes?

u are an extremely pessimistic person

I prefer to put my money into CPF or my WL, all earning more than 4%, better than singlife

 

[iwanthp]

Hi the Singlife not available for online application? I went to the website but cant seem to find anything to apply it :/

 

[311290]

Anyone signed up was thinking of signing up and reading through the t&c.

3years - 3% seems to be good and short period.

 

[havetheveryfun]

u are an extremely pessimistic person

I prefer to put my money into CPF or my WL, all earning more than 4%, better than singlife

just inferring based on what u said, since u said SDIC is last resort

 

[havetheveryfun]

Hi the Singlife not available for online application? I went to the website but cant seem to find anything to apply it :/

they already wrote there big big "ONLINE APPLICATION COMING SOON" and ask you to sign up to their mailing list