Review: Dash EasyEarn – Capital Guaranteed, 2.0% p.a. on up to $20,000 of Savings
Update 25/09/2020: the rate for new sign ups has decreased to 1.8% p.a.
Just as bank interests dip, things are getting interesting as more and more products are starting to rival bank deposits by emulating savings accounts. Dash EasyEarn is yet another insurance policy that offers interest-hungry folks a nice, round 2.0% pa guaranteed for the first year.
|Provider||Singtel Dash (underwritten by Etiqa)|
|Returns||1.50% guaranteed + 0.50% pa for 1st year|
|Tenure||No specific tenure|
|Other Features||Death Benefit of 105% of Account Value|
The minimum to start is $2,000, and you can have up to $20,000 placed here.
There is no lock-in period, and you can also top up the account and make withdrawals just like a savings account allows you to, except top-ups can only be done in multiples of $500, while withdrawals can be done in multiples of $100.
When you withdraw from Dash EasyEarn, you have the option to withdraw it directly to your bank account for a $0.70 charge, or to your Dash wallet for free. Withdrawing to your Dash wallet also means that you would have to spend it via Dash, so take note of the more restrictive use of your funds if you go this route.
FINAL call for Webull’s account opening promo! Get easy US$50 to US$500 worth of shares when you open an account and fund any amount. Deal is changing after 31st May 2023 4PM!
A year of 2.0% pa guaranteed, and other nice things
In return for the slightly more restrictive access to your funds, EasyEarn gives you 2.0% p.a. for the first year. That is pretty decent, and seems to be a middle ground between Singlife’s high but non-guaranteed 2.5% pa rate, and Elastiq’s lower 1.8% pa rate which is guaranteed for 3 years.
Just like its other counterparts, it also provides a little bit of death coverage at 105% of the Account Value, which is a nice bonus compared to traditional bank savings accounts.
Instead of a “hard” fall-below fee which most bank accounts and Elastiq charge when your savings go below a certain amount, EasyEarn gives a “softer” penalty in form of just not according interest. It means that there really isn’t a downside to opening this account since you can maintain virtually nothing in it should more attractive options present themselves.
Subscribe to my Telegram channel for an upcoming post comparing the various similar plans available.
Given the lowered interest rate environment we are in, the introduction of such products are much welcomed. Most people would be happy with the slight loss of liquidity for a superior interest rate, especially when you don’t have to do inane things like credit your salary or meet a minimum spending each month to get some returns on your cash savings.
Although, does an extra 0.15% pa justify this over Elastiq? It depends on if you think your cash savings is going to sit idle beyond a year or two, and if interest rates would continue to slide.
- Decent 2.0% pa interest rate guaranteed for a year
- Almost full liquidity
- No fall-below fee
- Death benefit of 105%
- Restrictive top up and withdrawal amounts
- Fee for withdrawing money to bank
- Interest is fixed for only a year
- Relatively low amount of $20,000
- Anything here?
Keep up to date on the best cashback/mile cards, financial products, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.
Subscribe to the channel, then join the group chat. You would often benefit from the tips shared exclusively in the group chat!
Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!
Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opnion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).
3 thoughts on “Review: Dash EasyEarn – Capital Guaranteed, 2.0% p.a. on up to $20,000 of Savings”
Why isn’t it in this seq? Singlife > dash > etiqa?
The 1 year duration will be starting from the initial deposit?
Does the top up amount entitled the 2% interest as well?
Or only the initial amount entitled?
If the top up amount is entitled to, says if i were to top up in the 4th month, meaning this top up amount only entitled for remaining 8 months of 2% interest (cause the 1 years is counted from the initial deposit)?
Thanks for the article.
Yes top-ups are entitled to the same interest, and the 2% is for the first year from start date of the policy.