Nerfed: GIGANTIQ Reduces Rate to 1.8% p.a For New Sign Ups; How Does It Compare Now?

Etiqa has unfortunately decided to decrease the crediting rate from 2% p.a. to 1.8% p.a. for the first $10,000. This affects new sign ups from 19th November 2020 onwards, and policyholders who have signed up before that are unaffected by the change in rate.

Reductions in rates are always unpleasant, but it’s worth noting that Etiqa has so far reduced rates for new sign-ups, and existing policyholders are not affected. This was also the case in the recent reduction in rates for Dash EasyEarn. 1.8% p.a. remains a competitive rate for products of this class, and it’s probably a good idea to sign up sooner rather than later.


Singlife AccountGIGANTIQDash EasyEarnWinner
Interest Rate2% / 1% p.a.1.8% / 1% p.a.¹ 1.8% p.a.² Singlife
Guaranteed TenureN/A1 Year1 YearGIGANTIQ/EasyEarn
Maximum Amount (higher rate)$10,000$10,000$20,000EasyEarn
Maximum Amount (lower rate)Next $90,000Next $190,000N/AGIGANTIQ
Minimum Amount$100$50$2,000Singlife³
WithdrawalAny amountAny amount
($0.50/$0.70 fee)
Multiples of $100
($0.70 fee)
Death Benefit105%105%105%Draw
  1. 1% p.a. guaranteed for first year + 0.8% p.a. bonus (for new sign-ups from 19th November 2020 onwards)
  2. 1.5% p.a. guaranteed for first year + 0.3% p.a. bonus
  3. GIGANTIQ deactivates the account and removes any value if the daily average amount for a calendar month is below $50.

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I think it’s a wash between Singlife Account, GIGANTIQ and Dash EasyEarn, and most people should probably have two or three of these plans owing to the relatively low capacities they have for higher earn rates:

First $10,000Singlife Account2% p.a. rate, free withdrawals
Next $10,000GIGANTIQ1.8% p.a. rate, flexible withdrawals
Next $20,000Dash EasyEarn1.8% p.a. rate
Next $90,000Singlife Account1% p.a. rate, free withdrawals
Excess fundsGIGANTIQ1% p.a. rate, higher capacity

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If you are a new customer to Etiqa: Sign up for GIGANTIQ by downloading the app, and use referral code R161521.

If you have existing policies with Etiqa (e.g. Elastiq, Dash EasyEarn etc.), please sign up here instead. Thank you!

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4 thoughts on “Nerfed: GIGANTIQ Reduces Rate to 1.8% p.a For New Sign Ups; How Does It Compare Now?

  1. Hi,

    Would you suggest parking money into Gigantic and Singlife would be better than say Citibank Maxigain Savings account? I would like to park 10k at least in both accounts if possible.

    1. I’ll pick Gigantiq and Singlife Account since they give 1.8-2% without much conditions. Maxigain maxes out at 0.6% pa after October 2020 I believe.

  2. How does Gigantiq compare with Dash Easy Earn? For the former, there will be a transaction fee for every withdrawals?

    1. You should refer to the table above. Both Gigantiq and EasyEarn charge a fee for withdrawal.

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