Much like Singlife Account, the ELASTIQ isn’t technically a savings account. It is a special type of insurance that tries to replicate a savings account.

Given the fact that banks have been cutting interest rates recently, if something swims like a duck and quacks like a duck, I wouldn’t mind if it waddles a little differently from other ducks as long as I get some decent returns.

## Details and features

Provider | Etiqa Insurance |

Name | ELASTIQ |

Min Amount | $5,000 |

Max Amount | $50,000 (can be topped up to $200,000) |

Returns | – 1.80% pa – 0.30% bonus every 3 years |

Tenure | 3 years guaranteed rate 90 days lock-in |

Other Features | Death benefit of 106.8% of account value |

For those unfamiliar with the brand, Etiqa is Maybank’s insurance business.

At 1.80% pa, ELASTIQ might not be superior to Singlife’s 2.50% pa, but where it falls short on interest rate it more than makes up for in terms of capacity – you can enjoy 1.80% pa on up to $200,000 of your savings.

To optimise your returns, simply place $10,000 in Singlife Account for 2.5% pa, and any excess into this.

## Guaranteed rates without long lock-in

Unlike Singlife Account which can change its interest rate any time, the interest rate of 1.80% pa is guaranteed for three years on the first amount you place in Elastiq. Customers disgruntled with DBS, OCBC, UOB, and StanChart for cutting their rates would appreciate such a guarantee.

More impressively, ELASTIQ guarantees the interest rate without locking in your savings for years. The only lock-in period is 90 days **after the policy issue date**, after which you can make withdrawals in multiples of $500.

Now even if you don’t feel like 1.80% pa is an attractive rate now, it’s not too bad an idea to set aside some money in this to lock in the rate for the next three years in the event interest rates continue to plummet.

Essentially, there is very little downside to putting your savings here. **If interest rates increase, you can pull out your savings. If not, you have locked in a interest rate you can enjoy for the next three years.**

Moreover, you get an additional 0.30% bonus reward every 3 years based on the average balance over the 36 months. That pushes up the 1.80% pa rate ever so slightly.

Final day: Get a Dyson Pure Cool Me™ worth $499! Existing cardholders get $30.

Your sign up directly supports this site!

## SDIC insured

The policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). It insures S$100,000 for aggregated guaranteed surrender value per life assured per insurer.

## Sign-up bonus

If you are interested in getting this, leave a comment with your email (will not be publicly shown) for the application details.

## Have quite a bit of savings to place?

If you are intending to place an initial amount ranging from more than $50,000 to $200,000 at the start of the policy, please leave a comment with your email (will not be publicly shown). The advantage is that you will get a much higher amount with guaranteed 1.80% pa since the crediting rate is not guaranteed on subsequent top-ups.

Keep up to date on the best cashback/mile cards, savings accounts, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel. You can also ask questions in the chat!

Want easy money? Check out attractive promos here!

## Conclusion

Even if you don’t currently think that 1.80% pa is an attractive yield, ELASTIQ is a safety net against falling interest rates. There is no obligation to keep your funds in this beyond the first 90 days, and given the falling bank rates, this is a no-brainer product to apply for, even if you don’t see an immediate need for it.

The good:

- Decent interest rate of 1.80% pa with 0.30% loyalty bonus
- Interest rate is guaranteed for 3 years
- No lock-in beyond the first 90 days from policy issue date
- High capacity of $200,000
- Death benefit of 106.8%

The bad:

- Withdrawals and top-ups are in multiples of $500 only
- $5 service fee if average daily account value is under $5,000

The ugly:

- I simply cannot think of an ugly downside to this policy

## ★ ★ ★ ★ ★ ★ ★ ★ ★ ☆

9 Stars of Sethisfaction

*This advertisement has not been reviewed by the Monetary Authority of Singapore.*

Hi, I bought ELASTIQ using your referral code ($50k)

planning to place more than 50K . Any better deal ?

Hi SY, please check your email

When and how often is interest paid out?

Interest is calculated based on the daily Account value and credited into the Account value at the end of each Policy month.

Hi,

plan to place above $40k.

Thanks to share details.

Hi TS, please check your email. Thanks!

Hi plan to.place above 40k. Please contact me

Emailed, thanks!

Hi Seth, 40k to deposit, pls assist. Tks.

Hi Andy, please check your email. Thanks!

Hi, I am looking to place at least $50K. Please contact me with details. Thanks.

Emailed, thanks!

Hi, I’m keen to put more than 50k as well. Can I get a promo code?

looking to put in around 40K

Looking to deposit 40k.

Looking to place more than 50k. Thanks

Hi all, I will be sending you emails and will not reply you here individually 😅

Thanks waiting for your PM.

Looking to place 40k too.

Thanks!

Have applied. Best saving account that i can find after the banks start dropping their interest.

Planning to put more than $50k.. pls advise thanks

HI Seth, please PM details on larger quantum. thanks!

Looking to place more than $50k, thanks

Thank you for sharing. Interested to place 50 – 100k. Would like to hear more.

Hi, planning to place 40k. Pls email thanks!

hi planning to put 50k

Is it possible to close the account entirely after three months?

Yes you are able to do a full or partial surrender

Planning to put more than 40K. Please contact.

Would you happen to know how the 0.3% calculation works? If my account balance remains as 10000 for 36 months, at the end of 3 years and assuming no withdrawals, do I receive a bonus of 0.3%*10000*36?

It’s one-off 0.3% so $30.

Hi, looking to put 45K pls PM

Want to put 50k

What if I originally put in 10k, then withdraw 5k after the 3 months, and then reinvest 2k? Will the 2k also be guaranteed 1.8% pa returns?

The guaranteed rate is only for the 1st premium. Rates for subsequent top-ups are non-guaranteed.

Hi Seth,

Thanks for sharing this product with me.

I would like to deposit about 40 – 100k. Looking forward to your contact. Thanks.

Hi, would like to find out more on the deal for >50k deposits. currently looking to deposit at least 50k. Look forward to your email.

Hi. Interested in the deal for >50k deposit. Looking forward to deposit at least 50k. Look forward to your email.

Please pm deal for more than 50k

planning to place 50K or more . Any better deal ?

Hi, I am planning 50k deposit. How do I get better rate?

Pls send deal for above $50k.

Hi, I understand that you recommend putting $10k into SingLife first for the 2.5% pa interest, however, in view of recent interest rates cuts, do you think it might be a better idea to place that $10k into Elastiq?

Doing that is better only if Singlife cuts its interest rate soon and/or dramatically, and Elastiq also drops in interest rate in tandem. Personally would stick with Singlife’s higher interest while it lasts.

Intending to put in 60k before month end. Let me know.

Interested to put in $50k too. Please let me know.

Interested to put in 50-100, pls share promo, thx.

Interested to put in $50k. Please share promo.

Looking to place more than 50k. Let me know details, thanks

Hi Seth,

Thks for the write up, pls pm me for amount more than 50k promo.

Interested to place >$50k. Please let me know details, thanks.

Looking to invest more than 50K. Any recommendation please? Thanks!

Thanks for the review! Please share the promo for above 50k.

Hi, I’m also interested in the review above $50k. Could you advise if there is any promo?

Hi, I’m keen to put more than 50k. Please share your recommendation

Intend to put 50k. pls let me know. thanks

Hi I’m planning to place more beyonf $50K. PM me your recommendation!

Pls share what to expect for a deposit of 50 – 100k

Thanks S

Hi, interested to place 50k and above. Kindly share further perks if any. Thx

Hi, kindly advise on the promo for a deposit of >$50k and whether the sum can be withdrawn after 90 days, if needed. Thanks!

Please share for $50k and above. Thanks.

Hi I am interested in placing more than 50K. Please email.

Interested to put in 50-100k – grateful if you could share the promo. just to confirm also that the 1.8% is guaranteed for initial amount above 50k? thanks!

Planning to place more than 50k. Please email. Thanks!

Just came on this and interested to put more than $50k. Thanks.

Planning to place more than 50k. Please PM me

Considering >50k. Please email me. Thanks

May put above 50k. Please email me.

Hi, just came across this today. Looking at 50k and more. Thanks!

Hi, hows the rate like if place 40k-50k?

It is still 1.80% pa.

I’m planning to put in more than 50k. Please email me the details. Thank you.

Planning to put more than 50k, do send the details thanks!

Hi, For $26k, how will the non encashable 0.5% and encashable $100 be awarded?

Does these credits still valid?

Regards

WM

It will be credited into your Etiqa account. The promotion is until 31st July or while stocks last.

Pls share the promo for >50

Pls email me the promo for >50, thanks!

Hi I will use your referral code, can I get cash back? Thx

Yes you will get the rewards depending on the amount placed.

The only lock-in period is 90 days after the policy issue date, after which you can make withdrawals in multiples of $500.

Does it means if i deposit 50,000, my interest is 900sgd, i can only withdraw 50,500? balance of 400 cant be withdrawn??

You can do a full surrender

Pls email me for promo above $50K.

(kindly ignore earlier reply, which has wrong email add)

Hi could i get the promo code for >50k please thanks!

Hi interested to place >50k. Any better deals you would have?

Hi, looking to place >50k. Kindly share the promo please, thank you!

Hi, already placed 50k using your referral code. Kjndly please share the promotion. Thanks

For Elastiq, Etiqa will credit the promotional credits to your account within 4 weeks after the 14-day free look period.

Hi looking to place 50k. Please email me.

For $50k and under you can just sign up for Elastiq with promo code R161521 for $100 and 0.5% insurance credits.

Hi, planning to deposit more than 50k in elastiq. Let me know if there are better deals.

Hi, I’m interested in placing >50k. Please email me with the details, thanks!

Hi, I’m interested in depositing >50k. Please share promo details. Thank you.

Hi interested to place $50k or maybe more ,wish to know more promotions details.

Hi, intend to deposit more than $50K, please email the details, thanks.

Hi, I’m interested in depositing >50k. Please share the details. Thank you.

Hi, I’m interested in depositing more than 50k. Please share the details. Thank you.

Hi i have 50K. can pm me?

For $50,000, please sign up for Elastiq using my referral code and get rewards as specified in the above table. The promo ends today.

Hi, I’m interested in depositing >50k. Please Email me. Thanks

Hi, interested in depositing >50k. Please email me, thanks!

Hi, planning to put in >50k. Please email me, thank you!

Hi, I’m interested in depositing >50k. Please share promo details. Thank you.

Hi, I’m interested in depositing >50k. Please share promo details. Thank you.

Hi, kindly email me for promo depositing above 50k, thanks.

Planning to put 50-100. Pls share details

Hello, can you please email me for promo depositing 50,000. Thank you.

Hi, I’m considering to depositing >50k in this account. Please email me with the details. Thank you!

Hi Seth, is it worth for me to put just 20k?

Hi Jon, why not? If you leave it there, you get 1.80% pa guaranteed for the next three years on your $20,000 savings. If you need to, you can also make withdrawals after 90 days.

Hi, I want to place $50K. Pleas send details

Hi, thinking to place $50k. Is there a better deal?

hi I am interested to place btw 50k to 150k. Is there better deal?

Hi, please let me know any better deal for > 50k. thanks.

Hello Seth,

Am considering 50k placement, looking forward to your email.

Thank you

Hi, i intend to place an initial amount ranging from more than $50,000 to $500,000 at the start of the policy. Please email me the details promptly.

Hi, could you please send me an email on the promo for different amount tiers? Thanks.

Hi! I’m looking to place more than $50k

Jesus, OCBC even announced a further drop in their 360 interest rates today.

Got around 100K to deposit, pls let me know more.

Hi, I am planning to place an amount of more than $50,000. Pls PM me with the details. Thanks!

hi, i’m interested to put in > $50k, thank you!

Hi, I am interested to put in >$100k, thank you.

Hi, interested to put >$50k, thanks

Intend to put 50k please assist

Hi,

I intend to put between 50 to 400k. Please assist.

What’s the difference between Elastiq and eSave Advance besides the initial amount? If we surrender both policies after 3 months, any penalty? Both have flexibility of withdrawal?

Both are underwritten by Etiqa and share the same features. You can do partial withdrawals or full surrender after 90 days from the policy start date without any penalty.

Hi, I’m planning to put more than 50k. Kindly contact me.

Hi, interested to put >$50k, pls share promo, thanks