Fixed Deposit Promotion
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SSBs can be redeemed in any month with no penalty, while still being entitled to accrued interest. The fees are only $2 per application or redemption request. There is thus no "plunging in" required. It is simply a question of leaving your money at the bank at 0%-0.1% while waiting for interest rates to rise, or putting it in SSB at 1%+ while waiting for interest rates to rise.
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There is $2 application fee and $2 redemption fee?
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Yah. You apply for the bonds and apply to redeem via ATM. No need to pay for transport or parking to go down to the bank branch.
Unfortunately, you also need a CDP account. -
Hi, how about savings plan from insurance agent (for example, some can get an estimated of effective interest of 3-4% return in 15 years)? What are your thoughts on such savings products?
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JurongTutor:
Hi, how about savings plan from insurance agent (for example, some can get an estimated of effective interest of 3-4% return in 15 years)? What are your thoughts on such savings products?
The 3-4%pa for 15 yrs can't be guaranteed. If it is guaranteed, pls let us know. Tks -
starlight1968sg:
That's one of my concern when I buy the product too. However, the insurance agent seems to promise me that they usually \"under-promise, and over-deliver\". Given that the insurance company is rather established, I decided to give it a try. Result can only be known 15 years later haha..JurongTutor:
Hi, how about savings plan from insurance agent (for example, some can get an estimated of effective interest of 3-4% return in 15 years)? What are your thoughts on such savings products?
The 3-4%pa for 15 yrs can't be guaranteed. If it is guaranteed, pls let us know. Tks -
JurongTutor:
That's one of my concern when I buy the product too. However, the insurance agent seems to promise me that they usually \"under-promise, and over-deliver\". Given that the insurance company is rather established, I decided to give it a try. Result can only be known 15 years later haha..[/quote]Look at the Benefit Illustration, there is a column on guaranteed surrender values, the other columns are projected.starlight1968sg:
[quote=\"JurongTutor\"]Hi, how about savings plan from insurance agent (for example, some can get an estimated of effective interest of 3-4% return in 15 years)? What are your thoughts on such savings products?
The 3-4%pa for 15 yrs can't be guaranteed. If it is guaranteed, pls let us know. Tks
Good luck to you! -
JurongTutor:
Hi, how about savings plan from insurance agent (for example, some can get an estimated of effective interest of 3-4% return in 15 years)? What are your thoughts on such savings products?
I have bought such plans before - 5 years - not guaranteed but projected. I am happy to say the plans have matured n indeed I was paid the projected amount. -
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Any good fixed deposits lately? I need some place to park excess cash for maybe a year or 2 or until we find good investments.
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