Maybank's new home loan packages

What it is: To celebrate Maybank's 48-year presence in Singapore, the bank has launched two special promotions for home loan customers: a three-year variable rate package and a four-year fixed rate package.

Details: The variable rate package starts from 1.68 per cent per annum in the first year, then goes up to 2.48 per cent in the second year, and to 2.88 per cent in the third year.

The rates are pegged to the Singapore Residential Financing Rate (SRFR), which may fluctuate.

The fixed rate package is not dependent on the SRFR and locks you in at 2.28 per cent in the first year, rises slightly to 2.88 per cent in Year 2, then to 3.38 per cent in Year 3, and to 3.88 per cent in Year 4.

The average four-year interest rate is 3.08 per cent per annum - currently lower than other fixed rate packages in the market of two years or more.

These rates apply to both HDB and private property home loans, as well as to both new purchase financing and refinancing customers.

Launched: Friday

Who is it for? It depends. Uncertain ones can choose the three-year variable rate package while those who prefer greater certainty can go for the four-year fixed rate package.

UOB JCB Platinum Card

What it is: A new credit card from United Overseas Bank and JCB International that gives exclusive privileges at more than 1,000 Japanese dining, shopping, beauty and travel outlets.

Details: Last year, more than 150,000 Singaporeans travelled to Japan, a 31 per cent increase from 2006, said the National Association of Travel Agents Singapore.

Enjoy discounts here at SK-II Spa Boutique, Kose Beauty Centre and Shunji Matsuo, complimentary parking at Liang Court and discount vouchers for shopping at Meidi-ya Supermarket and Books Kinokuniya, and low-fare deals to Japan on Japan Airlines.

You can also take your card to Japan to enjoy privileges at restaurants, cafes and department stores like Takashimaya.

Launched: Thursday

Who is it for? Japanese expatriates here and Singaporeans who visit Japanese retailers and Japan often.

OCBC Three-Year SGD FX-Linked Structured Deposit

What it is: A principal-protected structured deposit that can give out a fixed interest income every year.

Details: Customers will receive a fixed interest of 1.8 per cent per annum for the first two years.

For Year 3, the return will depend on the total number of Up-Months and Down-Months of the US-Sing dollar exchange rate over the tenure of the structured deposit.

Investors may receive a return of up to 4.8 per cent per annum for Year 3 if the absolute difference between the Up-Months and Down-Months is high.

In the worst-case scenario, the effective rate of return for the entire tenure is 1.73 per cent per annum.

Launched: Sept 4. Offer closes on Wednesday (subject to availability).

Who is it for? Retail investors looking for a principal-protected investment that can provide a potentially higher rate of return than what they can get from ordinary time deposits.

This article was first published in The Straits Times on September 14, 2008.