OCBC asked me to take up a 10 year savings endowment plan and purchase funds from Lion Bank Asian Fund or Lion Bank Core Funds. Should I take this up, or invest in STI ETF + Bluechips + SSB and REITs?

Learn to invest on your own. Why take the chance of having your funds locked up in an endowment that offers uninspiring returns? Not to mention costly funds that won't lead to something decent? Buying into a few reits and ssb may potentially offer something on par if not better, returns wise, with the option to liquidate without much costs. Do examine the reits to see if they fit what you are looking for before buying into them. Hope this helps

1. I dislike endowment plans because of the commitment until the end of the policy term. If I were you, I will do away with the endowment plan. Regardless of how much savings you may have parked in the bank, you can't predict yourself being out of job. You can't predict when you'll need the emergency funds to be automatically taken out. So I don't to the lock my money aside in endowment plans.
2. Mutual funds is one good way to diversify your portfolio. For Lion Bank Asian Fund and Lion Bank Core Funds, they have 2% one-time sales charge and 0.6% annual management fee. Why bother going through these fund companies when you can go directly through SGX? You can invest in blue-chip stocks or ETFs through the stock trading companies at just a one time 0.25% floor rate. That way, you get to save and diversify your portfolio too.
3. Since you've no investments and are still new, I suggest you read up more on investments here: https://blog.seedly.sg/investment-product-short-medium-long-term/

Ultimately, it depends on your time horizon, your risk appetite, and your budget before you can determine what you should invest in. 👍🏼Cheers, all the best for your investing journey