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*Prevailing Board Rate is subject to change without prior notice. Please visit www.sbising.com for Prevailing Board Rate and other terms & conditions. +Applicable only for 3-month deposit tenor.

Promotion valid for a limited period only.

i) NTUC Vouchers

Regular Premium Plans
Annual Premium Amount NTUC Vouchers
3,600 - 8,000 125
8,001 - 11,000 175
11,001 - 14,000 250
14,001 - 17,000 325
17,001 - 20,000 400
20,001 & Above 500
Single Premium Plans
Annual Premium Amount NTUC Vouchers
30,000 - 75,000 50
75,001 - 120,000 100
120,001 - 180,000 150
180,001 - 250,000 250
250,001 - 500,000 350
500,001 & Above 450

 

ii) Special rates on bundled Time Deposits for every insurance policy signed up:

Deposit Amount SGD 10,000 - 25,000

Regular Premium Plans
Annual Premium Amount 3 month 6 month
3,600 - 8,000 PBR + 2.02% PBR + 0.92%
8,001 - 11,000 PBR + 2.98% PBR + 1.48%
11,001 - 14,000 PBR + 4.18% PBR + 2.08%
14,001 - 17,000 PBR + 5.38% PBR + 2.68%
17,001 - 20,000 PBR + 6.58% PBR + 3.28%
20,001 & Above PBR + 8.50% PBR + 4.24%
Single Premium Plans
Annual Premium Amount 3 month 6 month
30,000 - 75,000 PBR + 0.98% PBR + 0.49%
75,001 - 120,000 PBR + 2.45% PBR + 1.22%
120,001 - 180,000 PBR + 3.92% PBR + 1.96%
180,001 - 250,000 PBR + 5.88% PBR + 2.94%
250,001 - 500,000 PBR + 8.16% PBR + 4.08%
500,001 & Above PBR + 16.32% PBR + 8.16%

 

iii) Only for the last RP tier (i.e. Regular Premium of S$20,001 and above), customers have the option to place higher Time Deposit amounts for bundling: Minimum SGD 50,000 to Maximum SGD 75,000 for tenures of 6 months :

Deposit Amount SGD 50,000 - 75,000
Annual Premium Amount 6 month
20,001 & Above PBR + 1.37%

PBR means Prevailing Board Rate.

iv) Special 12 Months Term Deposit Promotion.

Subject to Annual Premium Amount*
Deposit Amount 12 month
SGD 10,000 - 49,999.99 12 Month Promotion Rate + 0.25%*
SGD 50,000 - 75,000 12 Month Promotion Rate + 0.25%*

Minimum Deposit Amount: SGD $10,000
Maximum Deposit Amount: SGD $75,000

*Term Deposit Amount is derived based on the following:

  • Term Deposit Amount placed can be up to 4 times the Annual Premium Amount (for annual premiums between 10k-12k).
  • Term Deposit Amount placed can be up to 3 times the Annual Premium Amount (for annual premiums of all other amounts).
  • The effective rate would be 0.25% of the current 12 month promotional rate offered by the Bank if there is no promotional rates for 12 month term deposit, 0.25% above board rate would apply.

 

Terms and conditions:

  1. NTUC Voucher/TD Bundle promotion is applicable for selected plans only:
  2. Customer can choose to take either NTUC Voucher rewards OR promotional TD bundle rate. NTUC Voucher rewards and TD bundle rates are only applicable for premiums paid by cash. Insurance plans payment using CPF funds are not eligible.
  3. NTUC Voucher rewards will only be given to the customer after the 14-day free-look period.
  4. Time Deposit Bundle rates quoted are applicable for insurance submissions for a limited period only and determined by SBI in its absolute discretion.
  5. TD Bundle Deposit application form can be sent and placed along with the insurance application form but if the insurance policy is surrendered / free looked / not incepted within 3/6 months of the deposit tenor, normal board rate (at the time of placement of deposit) will be accorded for the time deposit bundle.
  6. This is an independent promotion and cannot be clubbed with any other offer and/or promotion from the bank.
  7. TD Bundle Preferential Rates are dependent on the Prevailing Board Rate (PBR). Hence, in case of any change in PBR at time of placement of the deposit; TD Bundle Preferential Rates will also change.

Important Notes

SBI shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of the products and/or services provided by third parties. Notwithstanding anything herein, SBI shall not at any time be responsible or held liable for any loss, injury, damage, or harm suffered by or in connection with the products and/or services provided by third parties.

SBI has the right to vary the terms and conditions of the Promotion without prior notice or withdraw or discontinue the promotion at any time without any notice or liability. SBI decision on all matters relating to the Promotion will be at their absolute discretion and will be final and binding. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the promotion, these Terms and Conditions will prevail.

Buying a life insurance is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premium paid.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.