During lunch just now, we started to chat as normal, then we talked talked talked and somebody mentioned about FD’s rate (which is currently super low!!). Then she told me about this newly launched Great Eastern saving plan, Centennial Wonder. They will only sell this plan for 2 months (why???). I’m not interested in getting another insurance but after hearing what she said, I found myself quite interested.

The first thing she told me was, “you put 4K and after 1 year u get RM 1K interest”. Wow!! that’s right, that’s how I feel too at that moment. RM 1K is a lot, if you put RM 4K FD for a year, I bet the interest will be around RM 100 only.. But of cos, I believe it’s not that simple, just put RM 4K and can get RM 1K, so i asked her more questions. Monthly how much, Yearly how much? How long I have to pay? When can I get money? and etc etc etc.

Since we only have 10 minutes left (my one hour lunch almost finished), she briefly explained to me. She said the plan is for 25 years (or 35 years), for my age, I will need to pay RM 4k per year (or about RM400 per month) for 8 years. Every year, I will get RM 1K interest which I can choose to withdraw it, or I can add it on to my principal.

So what happened after 8 years? Well, I will not need to pay anymore but every year I can still entitled for the RM 1K bonus (or more.. this part i not so sure yet) till 25 years. After 25 years, I can withdraw my principal plus all the interest plus cash bonus. So if touch wood within the 8 years something happened to me (critical illness, death or anything), the beneficiary will get the interest for the remaining years and can withdraw after 25 years.

Sounds good right? I still have lot’s of questions to ask, such as withdrawal process lar, what if I need the money and I need to withdraw lar and things like that..But due to the time constraint, I didn’t get to ask her these…

Any of you heard about this plan? Any “hidden” things that can share with me?