About a sales pitch which caught my eye...
I was informed of this sales pitch on Facebook. I am not here to defame anyone, so let's just call the agent "NSF 50X". I will examine "NSF 50X's" sale pitch and show why he/she is the best insurance agent in Singapore.
The dangle used by "NSF 50X" to entice us claims to "grow (our) savings 50X faster than the banks" and now this plan is being offered to millennials and young working adults. Fantastic, I fit the criteria!
50X faster than banks, really?
I'm going to do a bit of marketing for UOB One Account mainly because I use it (will explain further below). Let's just say I only manage to spend $500 per month on my UOB credit card, I stand to gain 1.50% returns on my savings account for deposits up to $75,000. So based on this scenario, if "NSF 50X" can grow my savings 50X faster than my 1.50% UOB returns, I stand to gain 75% per annum?? I get to double my capital every year at this rate. Imagine the 50X returns if my UOB account can give me 2.44% per annum - a whooping 122% ROI.
Wow, where do I sign up with "NSF 50X"?
Why I use UOB
To put things simply, I use UOB because I am self-employed and have no "salary" to credit into my account. For more information on such bank rates, do look up on online blogs including moneysmart (I am not linked to them).
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