Martin Lee @ Sg
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NTUC Capital Plus CPN23 and CPN24

This post is for the 2010 tranche of Capital Plus. For the June 2018 tranche, you can refer to this post:

NTUC Capital Plus June 2018

NTUC just launched a new tranche of their Capital Plus a couple of days ago. Capital Plus is a single premium short-term endowment policy with guaranteed returns. You can invest using cash or funds from SRS. This product is available on a first come first serve basis and will be withdrawn once the sales allocation is reached.

Capital Plus (CPN23)

This plan is opened to all new and existing policyholders. It has a policy term of 2 years and a guaranteed yield of 1.4% p.a. upon maturity.

Capital Plus (CPN24)

This plan is exclusive to policyholders who are receiving their maturity proceeds from now till end of the year. It has a tenure of 2 years and a guaranteed yield of 1.7% p.a. upon maturity. Please note that this offer is not transferrable and policyholders will not be entitled to any reinvestment vouchers when they buy CPN24.

Application will be on a first-come-first-serve basis, except for the special reservation made for policyholders who are receiving their Capital Plus maturity in December 2010. Policyholders who are receiving Capital Plus maturity proceeds in December 2010 will be:

1. Receiving a letter from NTUC, inviting them to reinvest into CPN24.

2. Given guaranteed acceptance for the maturity proceeds, if the completed application form is received by 15 December 2010.

This offer is slightly superior to what Tokio Marine was previously offering for their TM Nest Egg (SP-Guaranteed 5) plan which gave 1.4% p.a. for three years.

ICICI bank used to (as recently as few weeks back) give very good rates for fixed deposit. They just reduced their rates but they are still giving among the best around in Singapore now.

Currently, they give 1.4% (amounts less than $50k) for their 2-year fixed deposit. This is equivalent to what NTUC is giving for their Capital Plus CPN23 series.

The current ICICI fixed deposit rates are as shown below:

Tenure < 50,000 < 100,000 >= 100,000
1 month 0.00% 0.00% 0.30%
3 months 0.15% 0.40% 0.67%
6 months 0.35% 0.60% 0.88%
9 months 0.55% 0.80% 1.05%
12 months 1.00% 1.25% 1.50%
24 months 1.40% 1.65% 1.90%
36 months 1.70% 1.95% 2.20%

Leave a Comment:

The Watchman says 10 years ago

have you not read NUTS’ posting?
Raising fund by exploiting and conning the unwary aunties and uncles’ fear is easiest. Ask the greedy agents to lie to the auntie and uncles that the return is better than banks’ FD (although comparing to the bank is banned but do you think they care?.) There are many of these uncle and aunties.
ntuc agents either use fear or greed to con their clients.
They hope to be #1 by using this under the belt strategy.This product has financial planning value except conning.

    Aunty says 10 years ago

    Compared to the 0.75% Per annum Fd rate offered by some banks,
    The 2.8%per2 years indefinitely better.

Singaporean says 10 years ago

I wonder why an insurance company needs to raise funds since they are getting contributions monthly from policyholders. Have they overspent on their own salaries such that they are now unable to payout those insurances due? If such, it is dangerous for people to put their money in such a company.

Nuts says 10 years ago

If you expect the organisation to go back to their roots and sell term insurance and personal accident to construction workers, labourers, cooks, clerks, storemen, etc you can tan ku ku. The CEO and senior mgmt will vomit blood first. The Board of Directors will also be jumping and banging table. Like that how to collect $50K director fees liao?

Moreover they just spent a bomb renovating their HQ and staff lounge and recreation centre, not to mention having to set aside a million dollars for their Barcelona Spain holiday trip in Apr 2011. How to recoup all these money and still get 3-6 months bonus?

The Watchman says 10 years ago

Another desperate move to boost their sales..heard they are trying to recapture the #1 with weighted premium again…even after SM Goh asked them to go back to their old original goal. The original goal was to provide affordable, value for money insurance products to the man in the street……..the supreme goal and NOT to be obssessed with #1 with all the craps products.

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