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Tiq GIGANTIQ

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GIGANTIQ

$50

MIN. ACC BALANCE

1.0% guaranteed + 0.8% bonus

RATE OF RETURN

1.8% for first $10k

INTEREST CAP

GIGANTIQ

$50

MIN. ACC BALANCE

1.0% guaranteed + 0.8% bonus

RATE OF RETURN

1.8% for first $10k

INTEREST CAP

Details

GIGANTIQ Review 2020: Etiqa's All-in-One Insurance Savings Plan

GIGANTIQ is an insurance savings plan that gives you a guaranteed 1.0% p.a. returns. There's also a bonus 0.8% p.a. return which you'll get on the first $10,000, for your first policy year.

On top of that, you'll also get a death benefit which pays up to 105% of your account value in the unfortunate situation of your demise.

Basically, the GIGANTIQ is a unique financial instrument which allows you to accumulate and grow your wealth while providing assurance in the form of a life insurance coverage, which provides a death benefit.

Even if you're a complete personal finance noob, GIGANTIQ is a product that is easily accessible.

In fact, you can start enjoying returns by depositing $50 into your GIGANTIQ account. Yep, that's all it takes.

It's highly liquid too, which means that you can withdraw your money anytime as there is no lock-in period.

If you'd like to earn more returns, you can make top-ups to your GIGANTIQ account via a simple bank transfer.

That's probably why it's such a gigantic success amongst those looking for a place to store emergency funds.

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How Does GIGANTIQ Work?

By magic. LOL. JK.

GIGANTIQ is a single premium, yearly renewable, universal life plan.

It's a financial product that is a combination of a regular savings plan, insurance protection, and a traditional bank account.

The rate of returns aren't as great as what you'd get with high-interest savings accounts, but in this low-interest rate environment... a guaranteed 1.0% p.a. rate of return is pretty decent, no?

What Is the Highest Rate of Return for GIGANTIQ?

GIGANTIQ's rate of returns are pretty straightforward.

The account gives you a guaranteed 1.0% p.a. rate of return.

But for the first $10,000 during your first policy year, you'll earn the guaranteed 1.0% p.a. + a bonus 0.8% p.a. rate of return (1.8% p.a.).

Any other amount you put into your GIGANTIQ will just earn the guaranteed 1.0% p.a. rate of return.

If you want to increase your rate of return... just make more top-ups into your GIGANTIQ account.

The maximum amount which you can put into your GIGANTIQ account is $200,000.

But wait!

Before you throw all of your money into your GIGANTIQ account, take note that transactions fees will be charged for each partial withdrawal:

  • via PayNow: $0.70 per transaction
  • via Direct Credit (DBS or POSB): $0.50 per transaction

You'll also have to keep at least $50 in your GIGANTIQ account at ALL TIMES because if you don't, your policy will be de-activated if your average daily account value for the calendar month falls below $50.

An additional perk — that has yet to be released — is that you can earn up to 0.25% p.a. extra rate of return on the first $10,000 if you buy selected life or general insurance products which are offered as a supplementary rider under GIGANTIQ.

How Much Insurance Coverage Do I Get With GIGANTIQ?

If you suay suay die while your policy is still in effect, Etiqa will pay you 105% of your account value after subtracting whatever amount you owe them.

They will also pay out 105% of your account value when the policy matures immediately before you turn 100 years old.

Congratulations on turning 100, by the way!

GIGANTIQ Features To Take Note Of

  • GIGANTIQ is an insurance savings plan that gives you a guaranteed 1.0% p.a. rate of return
  • The policy will be automatically renewed after the one year mark UNLESS you write to Etiqa to request for a policy termination
  • If your average daily account value for the calendar month falls below $50, your policy will be de-activated and you won't earn the stipulated rate of return

Is GIGANTIQ the Best Insurance Savings Plan?

Besides the GIGANTIQ, did you know that there's also Dash EasyEarn and the Singlife Account?

Insurance Savings Plan Comparison: Dash EasyEarn vs GIGANTIQ vs Singlife Account

Which begets the question: is the GIGANTIQ the best insurance savings plan out there?

Check out our Insurance Savings Plan Guide where we discuss what are the differences between the different insurance savings plans and

Who Can Apply for GIGANTIQ?

If you confirm plus chop wanna get GIGANTIQ, you'll need to fulfil the following eligibility criteria:

  • You are a Singapore citizen or PR with a valid NRIC, OR
  • You are a foreigner with a valid work pass or permit, or a Long-Term Visit Pass
  • You are between 17 to 75 years old (age as of next birthday)
  • You have proof of residence (eg. bills or statements)

Oh, and by the way, each person can only have ONE GIGANTIQ plan at a time.

How Do I Apply for GIGANTIQ?

It's pretty simple.

  1. Download the Tiq by Etiqa app
  2. Register for an account
  3. Sign up for a GIGANTIQ plan (FYI: you'll need a photo ID for verification)

And that's it.

Toldja it was simple.

What Are the Fees and Charges for GIGANTIQ?

Although there isn't any fall-below fee with the GIGANTIQ, there are some fees and charges that you might wanna take note of:

  • Minimum account balance: $50
  • Minimum account top-up: $1
  • $0.50 for each transaction via Direct Credit (DBS or POSB account)
  • $0.70 for each transaction via PayNow

How To Contact Tiq by Etiqa

  • Customer Service Tel: +65 6887 8777
  • Main Office Tel: +65 6336 0477
  • Email: [email protected]