POSB has teamed up with Aviva to offer a 5-year single premium endowment product that pays 2.25% interest every year.
This is a no-frills non-participating insurance product which also provides a sum assured of 101% of single premium for death or 106% of single premium for accidental death.
At the end of the 5 years, 100% of the premiums will be returned.
The minimum investment is $10,000 using cash only.
As a illustration, if you invest $10,000, you will receive $225 at the end of every year for 5 years and receive $10,000 when the product matures. You may not receive back the full principal amount if you surrender the plan before the end of five years.