Thursday, June 22, 2006

Key features of Flexi Cash

Earn a better interest rate on your savings account!

Do you want to earn 3% on your savings? And have the flexibility to withdraw your money at any time?

Flexi Cash from NTUC Income is a better choice:

- this is an investment-linked plan
- your saving is invested in the money market
- the interest rate is currently around 3% (but may be subject to change with the market)
- minimum saving of $5,000
- saving is subject to a very small investment charge of 0.1% (during the promtion period)
- no restriction on withdrawal
Interested? Call 6788 1111


ronins said...

Mr Tan,

Flexi Cash is a good product, but I think the info at NTUC Income's website could mislead investors. It says "You don't have to worry about losing your capital".

I doubt Flexi Cash is a capital guaranteed fund?

Also, the main page says the fund invests in interbank and A rated FRNs, but the Money Market Fund page says it invests in BBB or better rated bonds. So which is correct?

Please don't misunderstand my intention. I believe NTUC Income offers good insurance products and I am insured mostly with the cooperative.

Tan Kin Lian said...

Dear Ronins,

Thank you for your helpful comments. We will correct the webpage to give a more correct picture regarding the investments.

You are correct that we do not provide any capital guarantee. But, the chance of losing your capital is very negligble, due to the type of investment.

I have asked my manager to change the description.

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