If you want to make your money work hard without taking investment risks, you can consider short term endowment plans. Short term endowment plans are insurance plans that provide a Guaranteed Return for a short policy term such as 2 years to 3 years. The insurance savings plan is protected under the Policy Owner Protection Scheme so there is an extra layer of safety. NTUC Income’s Gro Capital Ease is one of them.
“Gro Capital Ease” used to be called “Capital Plus“. NTUC Income has rebranded it and now the plan is called “Gro Capital Ease”. It is a 3-year savings plan with a guaranteed maturity yield. The latest tranche (launch date 19 January 2021) is CSN7. The maturity yield is 1.58% p.a.
In my opinion, this is too low even with the current interest rate environment. You are probably better off with a well managed short term duration bond portfolio.
Nevertheless, below are the details of this product....