Hi, Mr Tan
I share your thoughts on the structured deposits where the bank promises 100% capital protection on an invested sum of money. Sadly, I believe they are a lot of old folks who have succumbed to the bank officers persistent pursue and ended up locking their retirement funds for at least 4 years or more with much returns.
I have enclosed a list of these deposit rates from a local bank and apparently with the lock-in period of 4 years, almost near to maturity rated at (99.42%), it barely makes any profit yet (99.42%), possibly there were initial payouts of say 2% for 2 years, the amount is just miserable.
| Enrich Account (Tranche A) | 6Jun03 | 11Jun08 | SGD | 100% | NA | 97.19% | 7May07 | ||
| Enrich Account (Tranche A) | 6Jun03 | 11Dec08 | SGD | 100% | NA | 95.77% | 7May07 | ||
| Enrich Account (Tranche A) | 6Jun03 | 11Jun07 | USD | 100% | NA | 99.42% | 7May07 | ||
| Enrich Account (Tranche A) | 6Jun03 | 11Jun08 | USD | 100% | NA | 96.12% | 7May07 | ||
| Enrich Account (Tranche B) | 20Jun03 | 25Jun09 | SGD | 100% | NA | 94.31% | 7May07 | ||
My very own past investment, on average on unit trusts for 5-6 years the profit is between 10-15%. I wonder how many of those structured deposits from banks are worthy to invest.
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