Maybank Singapore offers equity-linked structured deposit

Blue Skies Structured Deposit's US$7,094 minimum initial investment can yield maturity payout of 10%.

Maybank Singapore on Wednesday launched Maybank Blue Skies Structured Deposit (SD), a three-year SD linked to the performance of an underlying basket of Singapore blue chips.

Customers will receive one percent fixed payout every year for the three years, and their principal back at maturity with the principal guarantee feature, the bank said in a statement.

The five blue chip companies are CapitaLand Limited, DBS Group Holdings Limited, Keppel Corporation Limited, Singapore Press Holdings Limited and Singapore Telecommunications Limited (SingTel).

The bank said depending on the average performance of these stocks, the potential maturity payout could be up to 10 percent, including the yearly one percent fixed payout.

Denominated in Singapore dollars, the minimum investment sum is S$10,000 (US$7,094), and the offer period runs from Thursday to March 30.

Singapore Maybank's head of consumer banking Helen Neo said interest rates were expected to remain around current levels and with signs pointing to an economic recovery in Singapore, it was timely to introduce this product.

View the full story in  Bernama.