Dear Mr Tan,
Recently I enquired about a 12.45% interest, 6-year structured deposit as advertised by OCBC bank.
REPLY
Some people may be misled to think that the return is 12.45% per year. It is the total return for 6 years, so the annual return is only 2% per annum.
There are also some other factors that the investor should take into account. The capital is guaranteed but the interest rate is not.
Read more about this product in
http://www.fisca.sg/ArticleDisplay.aspx?ID=468
Recently I enquired about a 12.45% interest, 6-year structured deposit as advertised by OCBC bank.
REPLY
Some people may be misled to think that the return is 12.45% per year. It is the total return for 6 years, so the annual return is only 2% per annum.
There are also some other factors that the investor should take into account. The capital is guaranteed but the interest rate is not.
Read more about this product in
http://www.fisca.sg/ArticleDisplay.aspx?ID=468
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