Details in TnC link at Post #16433

while min is 20k, you basically need to put in 20k now, and have 20k by the same time next year.

If you are actually splitting a 40k deposit, the 2nd 20k earns a lot less interest (due to yr1 and current poor FD promo) pushing down your own eff rate

Can anyone please upload the complete flyer of that insurance promo.
What are the terms and conditions?
Do we need to have savings account in OCBC in order to participate in this 3.9% promo?

The guarantee on the 3.9% is from GE. And despite what the flyer say about potential bonus after 2 years, probably the amount gonna be zero or very low.

Important note is no early withdrawal, you can lose part of the capital. I'm not sure how ocbc promotes it or sell it. They may have a way to ask you to pay one shot instead of 2 separate years. I am not familiar on mechanism but such plans are not out to con you.

I bought etiqa last year pay 2 years kena tahan for 5 years. The issue for me is... i just have to make sure 5 years i cant touch the money. Else lose 10% of the money during the 1st 2 years. While i'm mildy surprise they (GE/ ocbc) did not withdraw despite the interest rate cut, this one is not a fishy plan. You can always ask them for the product disclosure sheet and sales illustration if you worry. Sales person got commission ba, but very low, 0.2%?

I got the flyer before mco. But i dont have full details. Usual insurance caveat is dont surrender early. Full 2 years required for the money to be there. Better get info from ocbc. The annoying thing is they want you walk in to get more info. This is the usual tactic la. But the plan itself is legit la. Unless you dont trust GE.

Edit: Let me caveat slightly, last year when GE did this, i was told only offer to bank customer, usually priority banking. So i never bothered to find out also i dont have 20k lying around. And i really not GE or OCBC staff just want to let everyone know, not all insurance savings plan is evil. Just need to understand. And yes such plans dont make much money for the insurance company. I share you the promo last year lo. 4.5% but last year when you hear 4.5% maybe not as wow la.

This post has been edited by adele123: May 22 2020, 01:47 AM


Attached File(s)
 MaxSure_2.pdf ( 160.95k ) Number of downloads: 84
 MaxSure1_flyer_2019_for_sharing.pdf ( 162.02k ) Number of downloads: 46

imo, insurance should only be for protection. investment wise, u are better off putting ur money even in FD in the long run.

U mean they advertised guarantee interest but change the t&c any time? That doesnt sounds right

This is true. But this one is also different.

There is guarantee + non guarantee. 3.90% is guaranteed. The terminal bonus is not guaranteed. Which is not important. 3.90% is great return. Please take note 3.9% does not 'compound' as you can see in the calculation.

1am liao, sleepy and hard to explain on the phone.

Im not pro at calculations so a quick count i do 100K @3% @12m + 200k @3% @12m without taking into compounding interest lands roughly less than 10K interests.
Assuming our FD interest will be going down trend how can u get anywhere near 3% for 2 years now?

So i guess this 3.9% guaranteed is quite good for low risk investment but just that need 200K capital.

OK Thanks. Checked inbox, nothing so means no offer. pull down 3 months is 2% only.

Anyone have idea until when this promo is going on?
Because I have some funds reaching at the end July 2020.
Is that promo valid till August 2020.
Need info pls.

But 3.9% pa for a 2-year plan is rather high at current interest rate environment.
UOB offered only me a 3-year plan with 3%% pa and I believe the plan is underwritten by Prudential (their insurance and wealth management partner),

It is Bancassurance.

The money is not with bank, bank is merely a selling agent for those insurance product.
It is like endowment plan, just a shorter term. For UOB-Prudential, they called it Guaranteed Income Protection plan.

We don't know the 3.9% is still available or not. Normally those product are offered within a short period of time, or once reach the fund size, then no more.

Can you share with me how do you get 2% as I get 0.79% for the 3 months.

if OPR go up and they still decide to pay you 3.9% then not worth lo

The catch of those endowment plan, is that, you can't withdraw until maturity date. Any premature withdraw, may result getting back 90+% only.
While FD you get back 100% principal for any premature withdrawal.

Usually these plan that comes with insurance benefits will deduct the premium "as payment for insurance portion" right?

But how come this OCBC one shows payout 100% of premium paid?

That sounds really good since got extra insurance benefits.

The insurance benefit is not much generally. The OCBC-GE one, I am not familiar with it.

For UOB-Prudential GIP, you put 100K, and get the coverage of 110K for certain age group, and 105K for older age for death benefit, means that extra 10K and 5K coverage only.

Please remember, those are insurance product, not FD.

I tried today using my CIMB clicks for 5k @ 6 months, but the interest rate written there is only 2.05%?

CIMB always uses special link for its promotional eFD.

Placement link also shared in my earlier post: https://www.cimbclicks.com.my/clicks/#/

I came across this term that SC mentions on 5% withholding tax for deposits larger than 100k. It is currently waived by the Msian gov.

Does anyone know how the general rule works? Would splitting it in several 100k within the same bank help?

This post has been edited by TheEquatorian: May 22 2020, 02:05 PM