Citibank and Prudential Life Assurance have launched a new Smart Future investment and savings product in Indonesia.
Smart Future combines the features of Citibank’s Flexible Deposit product and Prudential’s insurance expertise. It has a single investment feature that enables customers to make a single investment placement – the minimum investment amount is IDR50 million.
Besides savings features, Smart Future customers can also avail insurance coverage. The fund will be allocated 50:50 to Flexible Deposit and Smart Future. The Flexible Deposit offers an interest rate of up to 11.88% per year, for a six-month deposit.
William Kuan, finance director, Prudential Life Assurance (Prudential Indonesia) said that the 50% insurance portion includes full coverage of life insurance, critical illness, accidents and emergencies and hospital expenses. Smart Future also offers a Terminal Bonus, a potential bonus at the end of the policy period.
Shariq Mukhtar, country officer of Citi for Indonesia, added: Smart Future is a smart choice for customers with a long-term outlook who want to secure a comfortable retirement.