Elastiq is a no-brainer account to have. It’s an insurance savings policy that offers the flexibility of withdrawals (you can make partial or full withdrawals 90 days after the start of the policy), and still offers you a decent 1.80% pa rate that is guaranteed for the next three years.

This means that if interest rates continue to fall, you’d be glad to have your funds parked in here for 1.80% pa returns. If interest rates recover or you have other opportunities, you are free to redeploy the savings elsewhere.

Limited availability

Good things don’t tend to last very long, unfortunately, especially given how interest rates have been falling the way they have in recent months. Elastiq has since become very limited in availability: only the first 5 each day may apply for it. I tried a few minutes past midnight and got this: