Bangkok--19 May--KASIKORNBANK
KBank launched Taweesup Extra, featuring a special fixed deposit product plus life insurance: Life Insurance Endowment 615 Guarantee wherein policyholders pay premiums for six years with 15-year coverage. Customers earn benefits of as high as 722 percent while insurance premiums are tax-deductible. The latest deposit product offers greater saving options for customers who can also receive protection with life insurance. Application can be made from now until June 2016.
Ms. Kitiya Rerkpooritat, KBank First Senior Vice President, said that in a low interest rate environment against the backdrop of economic slowdown worldwide and here in Thailand, KBank launched Taweesup Extra as an alternative for savers to enjoy more attractive returns from deposit and life insurance at the same time. Depositors are required to make a monthly deposit of 500-25,000 Baht for 24 consecutive months and they will earn principal plus interest of 3.3 percent, p.a., tax-free, upon maturity. Aside from deposit, the product also features Life Insurance Endowment 615 Guarantee – wherein policyholders pay premiums for six years and get 15-year coverage. They can also enjoy 0% interest installment payment of premium via K-Credit Card for three months every year throughout the six-year period. Customers are entitled to benefit from life insurance coverage of 100-500 percent from the 1st to 5th policy year, an up to 600 percent from the 6th to 15th year. Moreover, policyholders earn 8 percent in cash benefits at the end of each policy year for 14 consecutive years, totaling 112 percent of the sum insured. Upon maturity of the policy, they will receive cash benefits of 610 percent of the sum insured, thus bringing the total benefits to 722 percent throughout the policy period. The insurance premium is also tax-deductible in accordance with the Revenue Department's regulations. Deposit can be made up to 50 percent of premiums paid each year.
Taweesup Extra – a special fixed deposit that comes with Life Insurance Endowment 615 Guarantee, provides financial security and discipline along with more attractive returns than peers. As Thailand is approaching the ageing society, saving and life insurance are necessary, especially for retirement life. Interested persons are invited to apply for the product from now until June 30, 2016. KBank expects 20,000 customers will sign up for this new deposit product.
Ms. Kitiya finally said that KBank has introduced special fixed deposit products regularly. They are, for instance, Taweesup, Lady Taweesup, Super Taweesup, which specifically cater to different needs of customer groups. Aside from great benefits, these deposit products aim to encourage them toward financial discipline – the key fundamental of future wealth.