Serious POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very Good

[JohnTan]

SINGAPORE: POSB on Monday (Jun 20) launched a new programme to encourage full-time national serviceman (NSFs) to develop a habit of saving.

Called the Save-As-You-Serve Programme (POSB SAYS), it was developed in partnership with HomeTeamNS and SAFRA. POSB is the first bank in Singapore to offer a rewards programme specifically for NSFs and NSmen.

Under this programme, NSFs will get an interest rate of 2 per cent per annum on their monthly contribution to the savings account for the entire duration of their full-time national service period, up to 24 months. Regular savings accounts currently only attract 0.05 per cent interest.

A stipulated amount between S$50 and S$3,000 will be deducted from a separate POSB/DSB account where national service allowances have been credited.

The programme was unveiled at a launch event by Senior Minister of State and President of HomeTeamNS, Mr Desmond Lee.

“I am heartened to know that many companies share our vision to recognize our NS community and have partnered HomeTeamNS and SAFRA to introduce new benefits to our members,” said Mr Lee. “I hope more partners will come on board to introduce other innovative programmes to recognise the contributions of our NSFs and NSmen in keeping Singapore safe and secure.”

NSFs and NSmen will also enjoy enhanced rebates of 2 per cent on all local contactless spends made on their Home TeamNS-PAssion-POSB Debit Card and SAFRA DBS Debit Card. There is a minimum spend of S$400 per calendar month for NSmen, while NSFs get to enjoy the rebate without a minimum spend.

POSB said they are looking into the possibility of extending this programme to the public, should the response be favourable.

http://www.channelnewsasia.com/news/singapore/posb-launches-savings/2888006.html

 

[mojito]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

PAP very good. Praise be to PAP!

 

[jw5]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

After they have served their NSF, the rate will revert back to 0,05% and the "relationship managers" or "personal bankers" will be calling them every day to buy commission based products.

 

[frenchbriefs]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

it says $50 up to $3000 per month will be deducted from the account where their ns pay is credited,it means money outside of their pay can also be used.nsf should use this opportunity to borrow $72,000 from their parents and earn 2 percent interest.peanut interest but in the final year they can earn up to $1440 interest,which is like 3 months NS pay.

for me i rather stick to my sg reits and oil investments during NS.

 

[JohnTan]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

PAP very good. Praise be to PAP!

Very good. PAP may consider letting you join this fantastic savings plan.

 

[Sideswipe]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

NSF where got money. save fucking lanjiao. got money also will waste it on somewhere else.

 

[stingray]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

From the outside looking in, papees are good. They give cash handouts to sinkies and all foreigners think sikapo is a paradise. Papees very generous.

To the sinkies, they know papees are only giving out a chicken leg to them to show the world how generous and thoughtful they are, but eventually, they know papees will ask for one whole chicken back.

 

[blueRad]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

What a new low. Temasek Holdings also want SAF's money?

 

[frenchbriefs]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

From the outside looking in, papees are good. They give cash handouts to sinkies and all foreigners think sikapo is a paradise. Papees very generous.

To the sinkies, they know papees are only giving out a chicken leg to them to show the world how generous and thoughtful they are, but eventually, they know papees will ask for one whole chicken back.

nothing special about this offer at all,what bank cant offer 2 percent interest rate if they are looking for fresh funds?once again PAP using one of their GLCs to politicise their political and national agenda.

 

[winnipegjets]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

So, I have to volunteer for NS for 2 years to earn that 2 percent interest. What a great offer ...2 years of your life for 2 percent interest.

 

[frenchbriefs]

Re: POSB Offers 2% Interest For NSFs!! May Extend To Public If They All Say PAP Very

So, I have to volunteer for NS for 2 years to earn that 2 percent interest. What a great offer ...2 years of your life for 2 percent interest.

i see hordes of sinkies once queuing up at shopping mall for a promotional fixed deposit rate of 2 percent.waiting in line to hand over their life savings for a chance to earn 2% on a friday afternoon while shoppers next to them were pigging out on aglio olio and fine italian cuisine.u should be thanking PAP for this once in a lifetime opportunity.