Intended to protect the money of investors and provide safety to place their investments in time of adverse global economic conditions
AmBank Group has introduced the AmTriple Guarantee Fund, its single premium endowment plan underwritten by AmLife Insurance Berhad, reported Bernama.com.
The AmTriple Guarantee is a zero risk investment savings plan intended to protect the money of investors and provide safety to place their investments in time of adverse global economic conditions, reported Yahoo Malaysia.
Datuk Mohamed Azmi Mahmood, managing director, retail banking, AmBank Bhd, said: AmTriple Guarantee comes with three ‘guarantees’ in one single premium plan.
With the recent announcement by Bank Negara Malaysia to leave the overnight policy rate (OPR) unchanged at two per cent, banks’ fixed deposit rates for tenures between one and five years are thus expected to remain within the range of 2.5 per cent and three percent per annum respectively,” he added.
This includes a step-up annual dividend payout of up to 4% per annum if held to five years maturity tenure, and 100% capital protection regardless of market movements.
On the other hand, AmTriple Guarantee provides step up annual dividend starting at 3% for the first year, and increases up to 4% by the fifth year.