Hot Tip: Pay GE GREAT SP With Citi PayAll For Better Yield; Buy Miles if You Wish

On the fence whether to buy GE GREAT SP? Here’s something that might tip the scale significantly… in fact, this idea struck me over the weekend and I pulled the trigger myself. You can use Citi PayAll to pay for the premium of this Great Eastern policy, and that’s exactly what I have done.

Your money spends more time in your bank account

When you pay for GREAT SP using Citi PayAll, the amount is due on your next billing cycle. This means that your money can sit in one of these accounts to earn you interest while your statement is not yet due.

My Citibank credit card statement arrives on the 15th each month, and I’ll have until 8th or 9th the following month to pay off my statement. I just made payment for my own GREAT SP using Citi PayAll, which means for more than a month, my money can still sit in my bank account generating interest while the GREAT SP policy starts its 1-year tenure.

Already, 3.5% for a year is about as high a rate you can find currently for something guaranteed, so having 3.5% for 11 months (down from 12, because of the above) is even better. Getting a 3.5% return in a period of 11 months is closer to around 3.8% p.a. effective yield.

To apply, tap this link, and select bank transfer for the payment method.

Buy miles cheaply, if you wish

Thanks to the ongoing Citi PayAll promo, you can use Citi PayAll to buy miles from a very reasonable 1 cent per mile. Those who have not been making use of Citi PayAll promos because they have no idea what to pay may find this useful too. GREAT SP can be an easily 5-digit “spend” that does not actually require any actual spending; you get 103.5% of your single premium after a year when it matures.

Tap here for a guide on Citi PayAll.

Seth
Seth

🔥 Final day for S$200 welcome offer for Amex True Cashback; becomes S$150 from 22nd April onwards

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Citi PayAll has a no-fee option too

If you don’t want to pay the fee, Citi PayAll also comes with a no-fee option. You still get the benefit of paying the policy with your credit card, delaying the time money actually gets taken out from your bank account to pay for the policy.

Not financial advice; consider your own affordability

Note that this isn’t financial advice and you should consider whether you can put funds in a policy for an entire year. While the product guarantees your capital and returns upon maturity, early termination before the 1-year period is up can result in capital loss. Failure to pay your credit card bill also results in high fees and interest.

Conclusion

Get decent, guaranteed returns and buy miles at a good rate – what’s not to like?

Do apply for GREAT SP through this link to support this site (select bank transfer to pay using Citi PayAll) and keep more content coming, and if you haven’t gotten your Citi card, you can actually apply for the GE policy first, and you are given quite a bit of time for payment to be made. That leaves you some time to apply for a Citibank card.

Note that GREAT SP is a tranche product that will close once the company reach their target amount. Stay subscribed to the Telegram for more great deals and personal finance content.

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