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Anonymous
So the website wrote "Note that all returns are not guaranteed" what does that mean?
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Elijah Lee
15 Jul 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi anon,
No, it's not guaranteed. But the statement applies to the entire account balance. They will strive to uphold the advertised 2.5% returns on the first $10K, but beyond that balance, they have the rights to decide how much to give. And they also have the rights to cut the 2.5% p.a., but will probably do so only as a last resort.
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Tan Wei Ming
15 Jul 2020
Founder and Writer at Frugal Youth Invests
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S$100
MIN. ACC BALANCE
Up to 2% p.a. base return + up to 3.5% p.a. effective returns
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S$100
MIN. INITIAL PREMIUM
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It's non guaranteed, but it nearly beats its promised rate.