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insurance companies are FOR PROFIT companies.
of course they charge you a lot for loans and pay you peanuts for deposits.
ReplyIf you borrow your own money from your policies you are charged 6% (approx). How many percent is that above what you are paid for putting your money with them at 1.6%? Why is it that one has to pay so much higher interest when taking one’s own money yet the same co-operative that is supposed to be “from the people, for the people” is giving so little when they are borrowing from the people?
Reply[…] Income has increased their tranche of Capital Plus (CPN16) and will be extending the offer of this plan till 21st December 2009 (next […]
ReplyBuy Singapore Govt Bond. At least you can liquidate anytime without penalty.
ReplyHi Vincent,
Actually, when you sell a government bond, it will be at the market price. It can be higher or lower than your initial purchase price.
ReplyHi Lioninvestor
I do understand the working of govt bond. At least you have a chance to either sell higher and you do not incurr penalty charges. If you try to liquidate your NTUC Capital Plus, it is confirmed 100% you have to face heavy penalties that may eat into your initial capital.
ReplyYes…Started at 2% 1 year back but now the rates are low across the board.
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