Compared: Singlife Account vs Etiqa Elastiq vs Dash EasyEarn
Bank deposit interest rates are rapidly going south, and insurers are stepping up to woo your savings. It’s about time we coined a name for such policies, and a few of us seem to think that Insurance Savings Account (ISA) makes sense.
Of course, take note that they aren’t bank savings accounts, but are instead insurance policies that emulate savings accounts. We shall take a look at three popular ISA available and weigh the pros and cons of each of them.
Features showdown
| Singlife Account | Etiqa Elastiq | Dash EasyEarn | Winner | |
| Interest Rate | 2.50% pa | 1.80% pa | 2.00% pa | Singlife |
| Guaranteed Tenure | None | 3 Years | 1 Year | Elastiq |
| Maximum Amount | $10,000 | $50,000 | $20,000 | Elastiq |
| Minimum Amount | $100 | $5,000 | $2,000 | Singlife |
| Withdrawal | Any amount | Multiples of $500 (after 90 days) | Multiples of $100 ($0.70 fee) | Singlife |
| Death Benefit | 105% | 106.8% | 105% | Draw |
You may wish to read the individual reviews:
Read to the end of this article for the overall winner!
The middle ground option: Dash EasyEarn
You would notice that Dash EasyEarn doesn’t win any category, but if you look at what it offers in each category, it holds up pretty well on its own. It doesn’t have the highest interest rate, but a nice round 2.0% pa is decent in these times we live in. It doesn’t have the highest capacity, but $20,000 is at least double of Singlife’s paltry $10,000. It doesn’t offer full withdrawal flexibility, but multiples of $100 isn’t too restrictive.
Unfortunately, being the middle ground option also makes it a little tricky to choose this over one of the other two choices. If I placed money here instead of Singlife’s offering, I’m better off only if Singlife drops its interest rate below 2.0% pa over the next year. If I chose this over Elastiq, I am better off only if EasyEarn continues with the higher interest rate beyond the first year for two more years.
Instead of being the Goldilocks option of being just right, I think most people would pass this over in favour of Singlife Account and/or Elastiq.
Sign up: Singtel Dash app (use code DASH-L72MK when you sign up for Dash)
Short term? 2.5% pa is hard to beat: Singlife Account
If you are putting aside money for a relatively short term, Singlife Account’s 2.5% pa is hard to beat. It is about as high a rate as you can get for a near risk-free product, and the liquidity is also the closest to that of a bank account.
Alas, $10,000 is a pretty low cap if you have substantial amounts of savings. Also, given how interest rates have fallen dramatically in recent months, it is obvious that 2.5% pa is not long for this world, and you may want to instead lock in a decent interest rate for a long tenure, rather than get a better interest rate that is going to be lowered sooner rather than later.
Sign up here and get $10 (remember to order and activate the free Visa Debit Card for the $10 to be credited to your account)
Overall winner: Elastiq
Elastiq has the lowest return at 1.80% pa, but this isn’t too far off from Dash EasyEarn’s 2.0% pa. Practically speaking, it also isn’t too far off from Singlife’s 2.5% pa rate, especially when you consider that Singlife offers this high rate only for $10,000 of savings.
In return for a lower rate, Elastiq offers a much roomier $50,000 capacity for your savings, and also guarantees the 1.80% pa for the next three years of your starting amount. There is simply no telling where Singlife’s 2.5% pa is headed, even for the next 3 to 6 months.
Get 0.5% of your initial premium in credits you can use towards another insurance policy if you use my code R161521. A decent deal for what is a very good product.
Sign up: see instructions here
Questions?
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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Elastiq cap is $200K, not $50K. https://www.tiq.com.sg/product/universal-life-insurance-elastiq/
The cap for Elastiq’s starting premium is $50,000. The rate is not guaranteed for top ups.
Hi there,
May i confirm if my understanding is correct? Say for instance, if i were to put in 10K in Singlife, however, I need to withdraw funds due to an emergency. As such, if i were to withdraw leaving aside $500 (since that’s the minimum amount to maintain), will I still keep receiving 2.5%pa for the initial 10K i had deposited unless the interest rates change?
The 2.5% pa will be on your remaining balance ($500 in your given example).