Personal Finance
Review: ELASTIQ – Solution to Low Bank Interest? 1.80% pa Guaranteed, Short Lock-in, 0.5% Sign-up Reward
By Sethisfy  •  June 3, 2020
Much like Singlife Account, the ELASTIQ isn’t technically a savings account. It is a special type of insurance that tries to replicate a savings account. Given the fact that banks have been cutting interest rates recently, if something swims like a duck and quacks like a duck, I wouldn’t mind if it waddles a little differently from other ducks as long as I get some decent returns.

Details and features

Provider Etiqa Insurance
Name ELASTIQ
Min Amount $5,000
Max Amount $200,000
Returns – 1.80% pa – 0.30% bonus every 3 years
Tenure 3 years guaranteed rate 90 days lock-in
Other Features Death benefit of 106.8% of account value
Sign up as a new Etiqa customer using my code R161521 for sign-up reward (read on for more details). At 1.80% pa, ELASTIQ might not be superior to Singlife’s 2.50% pa, but where it falls short on interest rate it more than makes up for in terms of capacity – you can enjoy...
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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