Bangkok--25 Aug--KASIKORNBANK
Countering the low interest rate trend, KBank recently launched Taweesup Extra, featuring a special fixed deposit that offers the highest interest rate in the market right now at 3.3 percent p.a. Depositors are required to make monthly deposits for two consecutive years and thereafter get the principal plus interest upon maturity. Aside from that deposit plan, they can purchase the Life Insurance Endowment 615 Guarantee plan that allows policyholders to pay premiums for only six years, but get 15 years of coverage. Upon maturity of the policy, the total benefits can be up to 722 percent of the sum insured. Depositors can also opt for the Pro Life 90/5 plan, an insurance coverage for their entire life that features premium payments for five years and then get cash benefits back every year until the age of 89. The premiums are also tax-deductible. Taweesup Extra offers good savings options for customers while also getting life insurance protection. Applications are accepted now until December 6, 2016.
Ms. Kitiya Rerkpooritat, KBank First Senior Vice President, said that in the current low interest rate environment, products offering high security such as fixed deposits are an attractive savings option for the medium to long terms. KBank, therefore, launched Taweesup Extra that features a special fixed deposit product, which is bundled with life insurance. This plan offers higher interest than any other two-year term deposit product in the market. Depositors are required to make a monthly deposit of 500-25,000 Baht, but not exceeding 50 percent of premiums paid each year for 24 consecutive months, upon which they will earn interest of 3.3 percent p.a., tax-free. Aside from the deposit plan, the product also features two life insurance policy options to choose from.
If choosing the Life Insurance Endowment 615 Guarantee plan, policyholders pay premiums for six years and get 15 years of coverage. They will also earn cash benefits at 8 percent of the sum insured at the end of every policy year, bringing the total benefits to 722 percent of the sum insured over the insurance policy term. If choosing the Pro Life 90/5 plan, policyholders pay premiums for five years, but earn cash benefits thereafter at the end of every policy year until the age of 89. For both insurance policies, applicants are not required to undergo health checkups, but only need to fill in health questionnaires. Premium payments can be made in monthly installments and are tax-deductible. Applications are accepted now until December 6, 2016 at any KBank Branch. KBank is targeting some 20,000 applications for this product.
Ms. Kitiya added that in the low interest rate environment, seeking a means to diversify one's savings with good returns while enhancing their material security via an insurance policy is an attractive option. Customers can choose an insurance policy that offers them the highest returns and security for their loved ones. KBank is confident that Taweesup Extra will be an excellent way for customers to diversify their savings, given higher interest rate of 3.3 percent p.a. versus peers, plus tax privileges and life insurance.