NTUC Income just launched their latest tranche of Capital Plus yesterday.
Capital Plus CPN16 is a single premium non-participating plan which offers a guaranteed return of 1.6% p.a. for a 2 year term, available for new and exisiting policyholders. This means an initial investment of $10,000 will have a maturity value of $10323.
The minimum investment is $10000 and can only be bought using cash and funds from SRS.
Application will be closed once they have reached $25m or 14 Dec 2009, whichever is earlier. Application is on a first-come-first-serve basis.
For comparison, the current fixed deposit rates are as follows (figures provided by NTUC):
| Bank |
S$ Fixed Deposits, |
||
|
12-Mth |
18-Mth |
24-Mth |
|
| DBS |
0.45% |
0.60% |
0.70% |
| OCBC |
0.55% |
0.60% |
0.70% |
| UOB |
0.45% |
0.60% |
0.70% |
| Citibank |
0.45% |
0.60% |
0.70% |
| HSBC |
0.48% |
NA |
NA |
| Maybank |
0.88% |
1.00% |
1.00% |
| StandChart |
0.35% |
0.72% |
0.76% |
| RHB |
0.75% |
0.88% |
1.13% |
| Average |
0.54% |
0.71% |
0.81% |
The table doesn’t include CIMB which currently offers 1.2% for a 12-month fixed deposit and 1.4% for a 24-month fixed deposit.