2016 Kick Start Your Future with NTUC Income Promotion with $1000 cashback

From now till 31 Decem­ber 2016, the first 3,300 new applic­a­tion of Reg­u­lar Premium Life Policies includ­ing any applic­able rider(s) with a min­imum annual premium of S2,000, you will get $1,000 cash­back in the form of a cheque which will be mailed to you within 45 days, one year after the Qual­i­fy­ing Policy is issued.

You are eli­gible to apply if you are a Singa­pore Cit­izen or Per­man­ent Res­id­ent who has gradu­ated from any of the Junior Col­leges or Cent­ral­ised Insti­tute Course, Inter­na­tional Bac­ca­laur­eate Dip­loma Pro­gramme, Singapore’s Insti­tute of Tech­nical Edu­ca­tion, Poly­tech­nics or local or over­seas Uni­ver­sit­ies in 2012 or later. You must sub­mit evid­ence of hav­ing gradu­ated from such insti­tu­tions or programmes.

Note that regard­less of the num­ber of applic­a­tions for each gradu­ate, only one policy will qual­ify for the reward under this Pro­mo­tion. In addi­tion, poli­cy­hold­ers who have par­ti­cip­ated and suc­cess­fully qual­i­fied for the “Kick Start Your Future With Us”

First Singapore Savings Bond

The first Singa­pore bond was opened for applic­a­tion on 1st Septem­ber 2015 and will close on 25 Septem­ber 2015, 9pm. The total amount for this alloc­a­tion is $1.2 billion.

You can apply in mul­tiples of $500 up to $50,000 through DBS/POSB, OCBC or UOB ATMs, or through DBS/POSB’s Inter­net Bank­ing portal. You will also need to have the indi­vidual CDP Secur­it­ies account linked to any of your bank accounts as CDP is the cus­todian for Sav­ings Bonds and it will pro­cess the applic­a­tions, interest pay­ments and redemp­tions. You may visit CDP’s webpage for inform­a­tion on open­ing your CDP Secur­it­ies account.

The alloc­a­tion will be con­duc­ted on 28th Septem­ber 2015 and the bonds will be issued on 1 Octo­ber 2015. The interest will be paid on 1st April and 1st Octo­ber every year till matur­ity date on 1 Octo­ber 2025. The interest for 1st year is 0.96% p.a., and 1.09% p.a. on second year. It will increases to 3.70% p.a. on the 10th year. So if you hold for 10 years till matur­ity, the com­poun­ded interest rate is 2.63%p.a.

Singa­pore Gov­ern­ment will issue the Singa­pore Sav­ings Bond every month. The applic­a­tion period is always 1st of the month till the 4th last busi­ness day of the month. Alloc­a­tion of the bonds will be con­duc­ted on the 3rd last busi­ness day of the month and res­ults will be pub­lished on its web­site after 3pm. Should the total amount of applic­a­tions exceed the amount on offer in a par­tic­u­lar month, you may not get the full amount you applied for. The excess cash will be refun­ded to you by the end of the 2nd last busi­ness day of the month. Sav­ings Bonds will be issued on the 1st busi­ness day of the fol­low­ing month. You will be noti­fied by CDP via mail of the amount of Sav­ings Bonds allot­ted to you. You can also check your hold­ings online through the CDP Inter­net ser­vice or by call­ing CDP at 6535–7511. The total amount of Sav­ings Bonds held across all issues can­not be more than $100,000.

You will receive the first interest pay­ment 6 months after the bond is issued. Interest will be auto­mat­ic­ally paid into the bank account that is linked to your CDP account. Interest will be paid every six months after that, on the 1st busi­ness day of the month. The interest pay­ments will be reflec­ted in your CDP statements.

There is a $2 trans­ac­tion fee for any trans­ac­tion such as applic­a­tion and redemp­tion of the bond.

You can redeem in mul­tiples of $500 on the 1st busi­ness day of each month till the 4th last busi­ness days of the month without pen­alty. Redemp­tion pro­ceeds will be paid by the end of the 2nd busi­ness day of the fol­low­ing month. If you redeem before the sched­uled interest is paid, you will receive a pro-rated amount, which is the interest you have earned but have not been paid.