Dear readers, in these days of higher fixed interest rates, a 4% per annum fixed deposit is quite common place these days.
Amidst the current competitive fixed deposit environment, various financial and banking institutions have been competing to make their offerings even attractive.
I recall some time back, various financial institutions were giving away even higher interest rates if customers bank, credit, save and purchase financial products from them. These institutions included online financial brokerages.
Just recently, I chanced upon a OCBC one-year Insurance plan that offers a capital-guaranteed 4% per annum interest as well as insurance coverage. The plan is called GSP 10 and you can find out more info about GSP10 here (though I must say I cannot find more details of the insurance coverage from the link).
I find that as more high fixed interest rates are incorporated into different products like savings plan, insurances, investment and even apps, consumers must be very discerning in knowing what they really want in terms of savings, investing, spending, insurance etc.
Also an important point from me, something I mentioned about regularly: don’t spend all your liquidity now into products that lock away your monies like high fixed deposits! Build up an investment warchest to take advantages of stock markets corrections when opportunities present themselves.
Always know what you want and need in life.
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