Dollardex is offering mile seekers a chance to grow their miles by transferring either $100k or $200k to dollardex in exchange for 18k or 40k Krisflyer miles!
Well, do note the following T&C though (key points only):
- Offer valid for first 500 customers
- All cash transfers from external platforms/banks/fund houses into the Investment Account must be submitted by 30th March 2018 and completed by 15th May 2018.
- Must invest or transfer from external platforms/banks/fund houses a minimum of SGD 100,000 cash in a single transaction in fresh funds
- Each customer will receive the miles only once regardless of the number of times of transfer
- All New Investment shall remain in the Investment Account for a minimum period of 12 months from the date the New Investment are transferred. Otherwise a $2000 fee will be incurred
- Navigator will contact all Qualified Customers by 30th April 2018 for their respective KF/PPS Club membership card in order to receive the KF miles
The full T&C is available here
Dollardex has been around since 1999, and I’ve been using it for unit trust investments since more than a decade ago. Right now, they are 100% fully-owned, direct to consumer platform of Aviva. This promotion is great for investors who are thinking of growing their wealth through investments and have spare cash of at least $100k to be parked aside in this investment account for 1 year. However, if you foresee the need to remove this cash for emergency reasons or do not plan to invest them in the unit trusts there, then you may be better off placing these funds in the bank instead.
I value the miles at 2 cents each, so 40000 miles is worth $800, which is around 0.4% p.a, which is still higher than a normal bank account. However, there are various banks that offer bonus interest rates when you perform certain actions e.g. salary credit, bill payment so check them out here.