Standard Chartered ‘Invest or Insure’ Campaign

Be richly rewarded when you invest or insure with Standard Chartered from now to 30 June 2015.
Insure and earn 8% p.a. interest on a 3-month SGD Time Deposit (up to a maximum deposit of S$20,000) with Standard Chartered Priority Banking.

Eligibility	Earn
Take up a Prudential insurance plan with a minimum monthly premium of S$800	8% p.a interest on a 3-month SGD Time Deposit

Eligibility	Rewards
Every S$150,000 fresh funds invested in eligible products	S$250 worth of Takashimaya shopping vouchers (up to S$1,000)

Welcome Gift for New Priority Customers                 
Plus receive additional S$200 worth of shopping vouchers, exclusive rewards and Priority Banking Visa Infinite privileges when you start a Priority Banking relationship with us today.


Please refer to the website for more details.

Citibank InterestPlus Savings Account Promotion

Citibank is offering up to 3.5% p.a. bonus interest on the first S$50,000 in your account if you insure, invest, spend and borrow with them.

1) Insure and earn 1.2% p.a. bonus interest
If you insure with S$250 per month for 12 months or single premium of S$25,000

2) Invest and earn 1.2% p.a. bonus interest
If you invest S$250 per month for 12 months on a regular savings plan or lump sum of S$25,000 in unit trusts

3) Spend and earn 0.1% p.a. bonus interest
If you spend S$25 on your Citibank Credit Card

4) Borrow and earn 1% p.a. bonus interest
If you take up a Citibank home loan of at least S$250,000

From now till 31 Dec 2015, receive S$200 Takashimaya shopping vouchers if you open an account and fund it with S$50,000 and complete a Personal Financial Report and Investment Risk Profile with a Personal Banker. If you fund it with S$10,000, you can receive S$20 Takashimaya shopping vouchers as a Welcome gift.

Plus, apply for 2 Credit Cards to get a free cabin-sized luggage.


Bonus interest is paid:

• Over a 12 month period for investment and insurance
• Every month whenever you spend S$25
• On the first S$50,000 in your account
• On top of your base interest

Continue to earn the bonus interest for the next 12-month period if you take up another insurance or investment.


Please refer to the website for more details.

HSBC Premier Banking Promotion

From now until 30 June 2015, start your banking relationship with HSBC and be rewarded with one night stay at Capella Singapore.

Eligible customers	Requirements	Welcome rewards#
New HSBC Premier customer	Minimum fresh funds and incremental Total Relationship Balance of S$200,000	One night stay at Capella Singapore's Premier Garden Room (worth S$1,100).
	Minimum fresh funds and incremental Total Relationship Balance of S$1,200,000	One night stay at Capella Singapore's One Bedroom Garden Villa with breakfast for 2 persons + S$150 Dining Credits + S$150 Spa credits (worth S$2,200).

Preferential rates of up to 1.28% p.a.^{+^} on your savings when you top up your HSBC Premier SGD account.
Receive preferential interest rate on the fresh funds placed into your HSBC Premier account. Enjoy up to 1.28% p.a. for up to 3 months on your incremental average daily balance.

Eligibility	Top-up Amount (SGD) in fresh funds	Preferential Interest Rate+^
New+ and existing^ HSBC Premier customers.	S$1 to S$5,000,000	Up to 1.28% p.a.

Wealth Rewards

Eligibility	Requirements	Wealth Rewards
New and existing HSBC Premier customers	Minimum S$100,000 (or foreign currency equivalent) within any calendar month during the promotional period in any of the following eligible products: Unit Trust, Structured Products, Fixed Income, Insurance (Regular or Single premium policy).	Receive S$100 cash credit** with a minimum investment amount of S$100,000 (capped at S$1,500 for amount of S$1,500,000 maximum lump sum investment across full promotional period).
		Plus for any Protection or wealth need fulfilled, enjoy free one-month premium## on any new regular premium life insurance plan.

** Till 31 March 2015 and completed Goal Planning Report
## The free one month premium offer is valid till 31 March 2015

Please refer to the website for more details.

SG50 MaxMaternity Care and OCBC Child Development Account Promotion

For those of us who are expecting a new baby this year, OCBC is celebrating Singapore's 50th birthday with a double bonus of S$216. Just sign up for MaxMaternity Care during the Promotion Period and subsequently open an OCBC Child Development Account by 31 July 2016 and be entitled to the following:

1) S$108 Cash Reward
credited into Child Development Account, matched dollar-for-dollar by the Government
                                 
2) S$108 Premium Voucher

for use on SupremeHealth Plan to give your child medical coverage. SupremeHealth is a Medisave-approved Integrated Shield Plan by The Great Eastern Life Assurance Company Limited.

The Promotion Period is from 1 January 2015 to 31 December 2015.

Please refer to the website for more details.

Citigold and AIA Insurance Products and Time Deposit Promotion

At Citigold, meet both your financial goals and insurance needs that help protect your retirement plans. From now till 31 March 2015, take up an AIA insurance plan with Citigold and earn 5% p.a. on your SGD Time Deposit with new funds.

Placement Amount	3 Months Tenure (p.a.)
Minimum S$40,000	5.00%

Please refer to the website for more details.

SG50 Jubilee Baby Perks

2015 is the year when Singapore celebrates its Golden Jubilee and for those of us who are welcoming new babies into this world, you have a lot to look forward to. What better way to celebrate the future of this nation?

Singapore Government
In conjunction with the SG50 celebrations to commemorate Singapore’s Golden Jubilee, every Singapore Citizen child born in 2015 will receive the SG50 Baby Jubilee Gift. It consists of a small set of meaningful items from all Singaporeans to welcome every Singapore Citizen baby born in 2015. It consists of a total of 8 items including a commemorative medallion, a diaper bag, a set of baby clothes, a multi-functional shawl, a baby sling, a scrapbook, a family photo frame and a set of baby books. Parents are encouraged to register for the Gift within two months of the child’s birth, as it includes items designed for newborn babies.

Please refer to the website for more details.

 



Babies born in 2015 are entitled to receive a commemorative Smiley Gift bag upon registration with POSB, the "people's bank". The limited edition gift comprises of 9 items which includes a diaper bag, a pair of mittens and booties, a plush toy, a coin bank, a height chart, a Bluetooth selfie stick, a 2R picture holder, a "baby on board" car sign and a pack of Zappy baby wipes.

In addition, 5 lucky babies born in 2015 are entitled to a S$10,000 Education Grant each for parents who register before 15 June 2015.

Please refer to the website for more details.

Great Eastern Life
Great Eastern Life celebrates Singapore's 50th birthday and the birth of your baby with the Great Eastern SG50 baby gift pack which includes free health coverage for a year, SG50 baby accessories and Live Great privileges.

Please refer to the website for more details.

AIA

Parents with babies born in 2015 have plenty to be cheerful about. Because AIA is giving each family free one year's worth of insurance cover and up to $200 worth of Robinsons Gift Card to begin your parenthood journey.

Please refer to the website for more details.

Thomson Medical Centre
If you choose to delivery your baby at Thomson Medical, you will receive the Thomson SG50 Jubilee Joy Pack.

• $50 Cordlife cord blood banking premium [FBI/SBI members will receive an additional $650 premium (total value of $700)]
• SG50 rates for Single and Two-Bedded rooms
• AXA 6 months medical coverage for newborn and premium vouchers up to $450 [FBI/SBI members will receive an additional $150 voucher (total value of $600)]
• OCBC bank exclusive (Receive up to $100 in your OCBC Child Development Account)
• 6 months online subscription to Mother & Baby and 8 Days magazines
• Huggies Newborn Diaper Pack (24 pcs), Huggies Gentle Care Wipes (10pcs) and $5 diaper voucher
• Thomson Medical 36^th Anniversary special edition Baby’s Health Booklet cover
• Education book made of fabric to aid child’s learning
• Baby latex bean pillow
• Diaper caddy
• Selfie stick
• Baby changing mat
• A copy of Thomson Mummies’ Pampering Treats on Dental/Aesthetic/Traditional Chinese Medicine (TCM) services
• Thomson SG50 Tote Bag

Please refer to the website for more details.

That's a whole lot of goodies in store for your new baby this year. Did I miss out anything that you might want to highlight?

Buy Basic Insurance Directly and Save on Commission from 2015

Just wanted to share a great piece of news. Singapore consumers will be able to bypass insurance agents to directly buy basic insurance at lower costs.

For a start, the Monetary Authority of Singapore (MAS) will require all insurance companies that serve the retail market to offer three categories of protection products through the direct sales channel. They are term life insurance products with total permanent disability (TPD) cover, whole life insurance products with TPD cover and optional critical illness rider attached to term life or whole life insurance products.

Please refer to the website for the original news article published on the Straits Times.

Financial Planning Made Easy

As the old adage goes, if you fail to plan, you plan to fail. So, it goes to show how important planning  is if you want to reach your financial goals. I think no one wants to depend on social assistance when we reach our sunset years.

So, how do you make sure you avoid these financial woes?

1) Pay Yourself First
For a start, you should open several bank accounts for various purposes so that you can preset GIRO amounts to be transferred to your savings and spending accounts. This will result in discipline to save which is sometimes lacking in most people. Afraid that your yearly overseas trip or that designer bag is going to blow your budget? You can set aside an amount every month to a "special treat" account with which you can dip into for your overseas vacation or extravagant purchases and make sure you don't have to touch other accounts. A rule of thumb is to make sure you save at least 20% of your income and to keep 6 months of expenses as an emergency fund.

2) Pay off Debts
You should list down all your debts and start prioritising and paying off those that incur the highest interest. For housing loans with low interest, if you are able to make investments which can exceed the interest that you incurring on the loan, you should go ahead to do that and earn the spread.

3) Buy Insurance
Make sure you are adequately covered especially if you have dependents so that they do not have to suffer unnecessary financial hardship if the unforeseen happens. For this, you can purchase a term life insurance. The cheapest in the market would be the SAF Aviva Term Life policy available to NSMen and their spouses. Maximum coverage is S$1m. Everyone needs a hospitalisation and surgical (H&S) insurance due to increasing medical costs. At a minimum, a basic MediShield plan should be considered. The Singapore government is trying to come up with MediShield Life which will cover Singaporeans for life. The premiums will definitely increase with this change for younger Singaporeans but this will ensure that elderly SIngaporeans enjoy affordable coverage.

4) Live within / below your means
It might be tough for some people but for those who can do it, the delayed gratification can save you from rude shocks like retrenchment, family emergencies. In this age of consumerism, this may be easier said than done but those who can do it will definitely have the last laugh.

5) Make Investments
Rule of 72 states that you can double your money in 7 years if your investments yield 10% or 10 years if your investments yield 7%. If you are not the financial saavy type, you can always invest in low cost ETFs in the market. That is what Warren Buffett instructed his wife to do if the Oracle of Omaha is no longer around. Remember the Rules of Investment of the Man - Rule #1 : Do not lose any money; Rule #2: Refer to Rule #1.

6) Have a Clear Financial Goal
Make use of tools on the CPF website and MoneySense website to help you. Assess how much you need after retirement and calculate how much you need your nest egg to grow to. That way, you will not be too far off in terms of your goals.

7) Make your Will
And finally, in order to be clear on the distribution of your estate upon your demise, you should consult with your lawyers to draft your will. You can also do it yourself but the risk is that the will might be ineffective or invalid in the eyes of the law. Costs are S$200 onwards depending on the complexity. Do be reminded that CPF funds, joint tenancy property, insurance and joint accounts are not included. In the case of CPF funds and insurance, you need to nominate your beneficiary whereas for joint tenancy property and joint accounts, it goes to the surviving owner.