Personal Finance
Elastiq is Gone, and eSave Advance is Going; Last Chance to get Guaranteed 1.80% pa with Withdrawal Flexibility
By Sethisfy  •  September 21, 2020
The inevitable has happened and after severely restricting the sales of Elastiq, Etiqa has decided to close applications altogether. Now, Etiqa is withdrawing the almost identical eSave Advance from 1st October. I’ve talked about Elastiq/eSave quite a bit, and for good reason: 1.80% pa guaranteed for three years with the flexibility of withdrawals is really compelling when bank interest rates have been free-falling in the past few months. I’ve since emptied and closed various bank accounts, channeling funds to the various insurance savings accounts there are. There’re no requirements like salary crediting, card spend, or other silly hoops to jump through to get a decent return on my liquid savings, and I’m not going back to the trouble of meeting those conditions unless banks can offer substantially higher interest rates. For those who are still on the fence whether to do something about the savings languishing in your bank, you don’t have much time...
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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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