What are your thoughts of Singtel Dash PET (by ETIQA) with 1.7% interest, 1% guaranteed + 0.7% bonus? Is the higher than bank interest sustainable?

There's a similar thread here: https://seedly.sg/questions/what-is-the-next-be...

Hi srsinsin,

If by sustainable you mean whether it will be maintained for 1 year, I'd say probably not. The reason they released this insurance saving plan to be at 1.7% is probably just to beat the Singlife interest rate or 1.5%, while cutting from the 1.8% interest rate on GIGANTIQ/Dash EasyEarn.

If you look at how interest rates have changed, they have always been decreasing - Dash EasyEarn started out at 2%, then reduced to 1.8%. Dash PET will probably face the same fate, where its 1.7% interest will be reduced in the near future.

In that regard, if you already have Dash EasyEarn/GIGANTIQ/Singlife, the only time it may be worthwhile to create Dash PET would be if you have savings that exceed the amount that earns the high interest rate, ie if you have $20k savings with only Dash EasyEarn and you want the balance to earn a high interest as well.

Or if you missed out on opening a Dash EasyEarn/GIGANTIQ/Singlife account, then Dash PET would be a good option.

Hope this helps!

Regards,

thefrugalstudent