Should I opt for Dash EasyEarn or Elastiq for savings?

I have a sum left in my jumpstart account and I’m looking to withdraw it and deposit it into an account which offers better interest rates. Some criteria that I’m looking for:

fuss free
capital guaranteed
flexibility for withdrawal (Just incase for future needs, I don’t need this flexibility now)

Elastiq

Discussion (8)

What are your thoughts?

Learn how to style your text

PolicyPal

27 Aug 2020

Official Account at PolicyPal

Elastiq is definitely a good deal to consider. Considering most banks are lowering their interest rate, it is something you should consider.

Here is some key advantage of Elastiq:

1) Policy Protected by SDIC

This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC).

2) Guaranteed return

There is a guaranteed return of 1.8% p.a. for the first 3 years. This is quite competitive in this climate of low-interest rates.

3) Flexible Withdrawal

There is only a 90 days lock-in period. You can withdraw anytime after the 90 days lock-in period without penalty.

4) Bonus Return

There is a non-guaranteed bonus of 0.3% if there is no withdrawal in the first 3 years.

You can check out this review by The Kiam Siap Life.

Do get in touch with us if you require more information.

Save

Tinexxxx

20 Aug 2020

Singlife is 2.5% p.a for the first 10k!

Save

Ow Jie Liang

20 Aug 2020

Student Ambassador 2020/21 at Seedly

Singlife

2.5% interest p.a. (cap at deposit of $10,000) & credited monthly
fuss free
capital guaranteed
flexibility for withdrawal

You can sign up on singlife with my referral code and we will both get $10 when you get on board with them, order and activate the free singlife debit card.

https://app.singlife.com/jkdzFszWL8

Save

Leow Ting Yang

20 Aug 2020

Business Administration at National University of Singapore

These are some of the best cash management plans that provide guaranteed savings.

Personally, I max out the SingLife with 10k and use some of my remaining money on Dash-Etiqa. These are the main bulk of my savings and I choose these platforms as they provide higher returns (compared to other similar plans) that are guaranteed and risk-free.

I spend the remaining on Robo-advisors such as StashAway. This constitutes 25% of my wealth and it provides a good entry point for investment as they have good commentary and explanation/Breakdown for your savings.

For Elastiq, you can check out this article by THE KIAM SIAP LIFE. IT provides a pretty good analysis of its pros and cons. It is a great alternative to savings accounts if you have spare cash.

Save