SECURITY BANK LTNCD
Security Bank (PSE: SECB) is offering Long Term Negotiable Certificates of Deposits (LTNCDs). This is much similar to a time deposit but with a twist: higher interest earnings and the certificates are negotiable (meaning you can sell it in case you need to pull out the money). Of course, caveat there is you only get to maximise the high interest rates if you hold it for the entire duration.
Quick details as follows:
- Offer Period: April 10 to April 20, 2018
- Issue Date: May 2, 2018
- Rate: 4.50% to 4.75% p.a.
- Tenor: 5 years and 6 months
- Denomination: PHP50,000 minimum, increments of PHP10,000 thereafter
- Maturity Date: November 2, 2023
- Interest Payments: Quarterly
- Insurance: Insured by PDIC up to PHP500K
SECB is aiming to raise a minimum of PHP5 billion from these LTNCDs to extend term of their liabilities, expand funding base, improve liquidity gaps and prepare for Basel III implementation of liquidity and net funding ratio requirements. (Nosebleed huh?)
Source: SECB email offer
This is a good option to consider for those whose investment OHA only allows them low risk but medium to low returns. How to find out which investments suit your personality? Download our Money Mgt Modules (#3M) and anwer the investment suitability questionnaire.
If you are interested or if you have other questions, go to your preferred Security Bank branch or contact their customer service hotline.
FARMON CYCLE 18
To those who have been asking and waiting, it was announced yesterday that FarmOn cycle 18 will open on Monday.
You know the drill by now. It is first come first served, expect website downtimes due to surge in traffic. Goodluck! May the odds be ever in your favor. Live long and prosper!
Don’t forget to download your copy of our ebook #10Steps to a richer life and find out why a WISER PINOY = RICHER PINOY, plus other lasting financial benefits! Investing is not for the rich, it is actually doable and a need for the poor in money but rich in mindset. Get your copy now!
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