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:
What I Meant by Annualised Yield
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.