1st August 2018 is when GREAT220, a savings plan from Great Eastern is being released. My mum has been wanting to sign up for it since it’s previous editions like GREAT205 which was released in March 2018. However, the demand was so high that my mum had no chance to sign up for it.
Read more: Savings Plan Yes or No
GREAT205 which was released on Mar 2018 had an interest rate of 2.05%. GREAT220 has a higher interest of 2.20%. My mum got to know about this because her friends were all talking about it. Most of her friends have allocated funds to the previous plans.
My mum has a SRS account and some money in there. So when she came across this promotion that her friend told her about, she decided to put her money inside. The minimum investment sum for GREAT220 is $10 000. So let’s say she place $10 …