Any thoughts on Elastiq as a means to grow your savings?

I've been using Etiqa Elastiq since January 2019. The interest when I signed up back then was 2.02% p.a and it's guaranteed for 3 years, on both the initial deposit and subsequent top-ups. The lock-in period of 3 months is short compared to endowment plans which is usually 3 years. After 3 months, it functions like a normal bank account, allowing instant deposits and withdrawals with no penalties or whatsoever. The interest is credited on a monthly basis, on the day which you opened the account. Will be definitely be using Elastiq for the next 1.5 years

Currently, it has been revised to 1.8% interest p.a guaranteed for the next 3 years, just that your subsequent deposits will be at their prevailing rate.

Yeah I second what Josh had shared. It’s almost like a flexible savings wallet. Considering strongly for this to be my Joint Savings account with my other half as this offers the same benefit as a higher interest savings account!

no penalty to deposit or withdraw extra beyond the 3rd month.