ZA Bank launches new savings insurance plan

The offering comes with a guaranteed return rate of up to 2.5% p.a.

Hong Kong digital bank ZA Bank has launched a new savings insurance plan in collaboration with ZA Insure.

The plan comes with a guaranteed return rate of up to 2.5% p.a, that will give users capital protection and wealth accumulation.

The insurance plan, called ZA Savings Insurance, features a three-year HKD savings insurance plan with a single premium payment term and is currently the protection plan with the lowest entry requirement in Hong Kong based on a comparison of the minimum premiums of existing short-term savings insurance plans offered by major insurance companies as of November 2021 by 10Life.

Users can start their savings plan even with a premium as low as HKD 1. The plan also allows users to withdraw their money from the policy without any charges. 

““Our flagship product ‘ZA Savings Go’ has been well received by users, and that gave us inspiration when we were designing ‘ZA Savings Insurance’. The rollout of this product marks yet another breakthrough in our product innovation. We hope ‘ZA Savings Insurance’ can assist users in reaching their financial goals gradually,” Calvin Ng, co-head of Retail Banking at ZA Bank said.

The plan will be available on 13 December.