HSBC is currently having a promotion on their existing Guaranteed Saver Plus plan which is a fixed 5 year term single premium non-participating endowment plan.
With the premium discount campaign, the annualised yield could go up to as high as 2.75%. The yield is guaranteed and not a projection.
The discount for various investment amounts is as follows:
20k-49,999 : No discount
50k-74,999: 1.2% discount
75k-97,999: 2.4% discount
>=98k: 1.2% discount
How the discount works is that you only have to put in the premium net of discount. For eg, if you are investing $100k, you will need to fork out $98.8k.
Applying the discount, the annualised yield works out to be:
20k-49,999 : 2.25% p.a.
50k-74,999: 2.5% p.a.
75k-97,999: 2.75% p.a
>=98k: 2.75% p.a.
If you are confused by the discount, you can read an explanation here:
This premium discount campaign is only effective from 1st June 09 to 30th June 09.
There is no medical underwriting required for this plan and is available on a first-come-first-served basis.
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