UOB saving/endowment plan

[sunbox]

Hi folks,

Could you please share thoughts on UOB saving plan which let’s you make contributions using ONE card.

Thanks

 

[boredboiboi]

Hi folks,

Could you please share thoughts on UOB saving plan which let’s you make contributions using ONE card.

Thanks

Uob, from prudential u mean?

 

[JuniorLion]

Don't buy that.

 

[Value.Matrix]

Hi folks,

Could you please share thoughts on UOB saving plan which let’s you make contributions using ONE card.

Thanks

Are you sure you want a savings plan which only allow you bonus for 12 months premium paid? Think properly...

Endowments are a long term commitment. Wouldn't want you to find me and sell your endowment to me.

 

[sunbox]

Thank you. Was introduced to this plan by my banker. I wanted to know thoughts by members.

Are you sure you want a savings plan which only allow you bonus for 12 months premium paid? Think properly...

Endowments are a long term commitment. Wouldn't want you to find me and sell your endowment to me.

 

[Value.Matrix]

Thank you. Was introduced to this plan by my banker. I wanted to know thoughts by members.

There are better ways to charge your UOB one card. Buy ntuc vouchers, etc etc

 

[maple96]

Hi folks,

Could you please share thoughts on UOB saving plan which let’s you make contributions using ONE card.

Thanks

UOB likes to use this strategy to promote UOB one account. U save, dun spend to earn UOB one account bonus interest. By buying prudential endowment plan with mthly premium payments.

If the endowment plan they sell u is like pay 5 years and wait 5 years for maturity to get back your capital plus some returns, if u find the returns % is reasonable, then can consider. U get to earn 5 years of UOB one bonus interest and UOB one credit card rebate. With the UOB account rebate, it is like mthly discount to your mthly premiums, with less premium, your overall returns will be higher on maturity. With the UOB one bonus interest, part of which is attributable to the endowment plan, your overall returns on the endowment plan will be higher.

U can consider if u dun have much to spend/charge to your uob credit card to earn the bonus interest.

For me, I want to earn DBS multiplier of 3.65% on 100k, I buy UT RSP, which I never buy RSP at all in the past. Pay a little fee to get more interest. Some people here buy DBS insurance, pay less than $20 a mth just to earn up to 3.65% pa on multiplier.

So work out your cost/benefit. U dun spend can earn. Other people have to spend and charge to UOB one to earn. Of course some are playing with grab topup to earn.

Some endowments pay more than 2% pa, still better then SSB for 10 years. Most important, u can continue to pay for 5 years or depending on tnc of the plan. Make sure u understand the endowment plan.

Are you sure you want a savings plan which only allow you bonus for 12 months premium paid? Think properly...

Endowments are a long term commitment. Wouldn't want you to find me and sell your endowment to me.

Wrong, u get bonus interest and credit card rebates for as long as u charge to the UOB one card. There is no 12 mth restriction like that of DBS multiplier.

There are better ways to charge your UOB one card. Buy ntuc vouchers, etc etc

U can get better rebates for using other “card” to buy ntuc vouchers, 10% rebate

 

[Value.Matrix]

UOB likes to use this strategy to promote UOB one account. U save, dun spend to earn UOB one account bonus interest. By buying prudential endowment plan with mthly premium payments.

If the endowment plan they sell u is like pay 5 years and wait 5 years for maturity to get back your capital plus some returns, if u find the returns % is reasonable, then can consider. U get to earn 5 years of UOB one bonus interest and UOB one credit card rebate. With the UOB account rebate, it is like mthly discount to your mthly premiums, with less premium, your overall returns will be higher on maturity. With the UOB one bonus interest, part of which is attributable to the endowment plan, your overall returns on the endowment plan will be higher.

U can consider if u dun have much to spend/charge to your uob credit card to earn the bonus interest.

For me, I want to earn DBS multiplier of 3.65% on 100k, I buy UT RSP, which I never buy RSP at all in the past. Pay a little fee to get more interest. Some people here buy DBS insurance, pay less than $20 a mth just to earn up to 3.65% pa on multiplier.

So work out your cost/benefit. U dun spend can earn. Other people have to spend and charge to UOB one to earn. Of course some are playing with grab topup to earn.

Some endowments pay more than 2% pa, still better then SSB for 10 years. Most important, u can continue to pay for 5 years or depending on tnc of the plan. Make sure u understand the endowment plan.



Wrong, u get bonus interest and credit card rebates for as long as u charge to the UOB one card. There is no 12 mth restriction like that of DBS multiplier.





U can get better rebates for using other “card” to buy ntuc vouchers, 10% rebate

My bad. It's different from DBS multiplier. But why spend on insurance when you could spend it other ways. AXS payment is so convenient for other payment.