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”
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.