Seth’s Blog on Finance

NTUC Income Relaunching Capital Plus, Again

NTUC Income is relaunching Capital Plus on 11^th July 2011.

It is a 2-year single premium savings plan with a guaranteed return of 1.4% p.a. The minimum sum required is $10,000 cash or SRS, and the plan is available to all between 16 to 80 years of age.

Again, nothing too fantastic but if you just so happen to be someone who is inclined to 2-year fixed deposits (anybody?) and insistent on growing your money like that then this may be for you. The fact that NTUC Income has repeatedly relaunched this over the years seems to suggest to me that there are many such people around… And probably many hardworking sales agents.

Anyway, in comparison, Bank of China recently ended their time deposit promotion. The highest interest offered was 1.38% p.a. for 2 years for sums $200,000 and up. Capital Plus offers 1.4% p.a. for 2 years with a minimum sum of $10,000. May be an alternative to currently low fixed deposit rates and the lesser of the two low interest evils I suppose. Note that there’s an early termination penalty.

13/07/2011: This tranche is closing at 5PM 13^th July 2011.