InterestPlus Saving Account is the latest new savings product launched by Citibank this week. This product is specifically targeted at the emerging affluent segment (i.e. customers with S$50,000 to S$200,000 investible assets).
In addition to the base savings account interest, customers will receive bonus interest of up to 2.5% p.a. through unit trust investment, insurance purchase and credit card spend. Customers will also enjoy an additional bonus interest of 1% p.a. if they take up a home loan with Citibank.
Here's how the 3.5% p.a. bonus interest add up:
- Buy insurance with monthly S$250 regular premium or S$25,000 single premium - 1.2% p.a.
- Invest in Unit Trusts (of 2.5% sales charge) with monthly S$250 regular savings plan or S$25,000 lump sum - 1.2% p.a.
- Spend S$25 monthly using Citibank Credit Card - 0.1% p.a.
- Take out a new home loan of at least S$250,000 - 1% p.a.
Bonus interest is paid:
- Over the first 12 months for investment, insurance and home loan.
- Every month for credit card spend.
- Capped at the first S$50,000 in the account.
- On top of the prevailing base savings account interest.
As part of the new account signup, till 30 April 2013, receive S$150 Takashimaya shopping vouchers when you fund S$50,000 for 3 consecutive months and complete a Personal Financial Report and Investment Risk Profile; or S$20 Takashimaya shopping vouchers when you fund S$10,000 within the first month from the account opening date.
Visit http://www.citibank.com.sg/gcb/deposits/interestplus_savacc.htm for full details, promotion, FAQs and terms & conditions.
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