facebookJust received a phone call from a POSB staff that sounds like it's too good to be true, any advice? - Seedly

Anonymous

22 May 2020

Saving Hacks

Just received a phone call from a POSB staff that sounds like it's too good to be true, any advice?

I received a phone call form a POSB staff offering to increase my savings account interest rate to 2% per annum from 0.05%. She told me that it was because I was saving with them for a long time (offer had no strings attached) the number called was from 6590 7661 was wondering if this number and offer is legit. sounds too good to be true.

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Ang Pei San

29 Oct 2019

Personal Wealth Manager at AIA Singapore

If you're looking to do a multiplier account to achieve a higher interest without locking up the cash, you can actually do this online as well.
yes, it's possible to achieve 2% but sounds like it's linked to insurance policies.

Yeap Ming Feng

24 Oct 2019

Head of Seedly at Seedly

Hey,

In my honest opinion, there is no free lunch in this world.
Whatever you just received seems like a common sales tactic one of our Community members experienced.

  1. Find a way to get you down to their office

  2. Pitch you a product when you are there.

I covered incident as such in this article: https://blog.seedly.sg/sales-tactics-bank-repre...

Not saying that the products are not good. But it is good to understand some of the sales tactics should you be willing to listen to what they have to say.

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Elijah Lee

24 Oct 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,
It is possible that your savings account interest from 0.05% to 2%+ by opening a Multiplier...

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