Dash EasyEarn

zoneguard

Senior Member
Joined
Jun 2, 2000
Messages
1,961
Reaction score
399
https://www.businesstimes.com.sg/banking-finance/singtel-offers-insurance-savings-plan-on-dash-app

Saw the new 'Grow Money' icon in my Dash app. Underwritten by Etiqa.

From BT's article:
minimum of S$2,000 and a maximum of S$20,000 in initial premium.

Policyholders get a guaranteed return of 1.5 per cent per annum for the first policy year, with an additional return of 0.5 per cent per annum if they sign up within an unspecified limited period

The savings insurance plan does not have any lock-in period; unlimited withdrawals are allowed, with no penalties imposed. But a charge of S$0.70 is applicable each time a withdrawal is made to a bank account. Withdrawals to Singtel's Dash are free of charge.

From the policy document:
Top-up in multiples of $500.
Withdrawal in multiples of $100.
Interest is calculated based on the daily Account value and credited into the Account value at the end of each Policy month. If the average daily Account value for the Policy month falls below S$2,000, no interest will be credited for the Policy month.

https://dash.com.sg/faqs/Other+In+App+Services

For discussion.
 
Last edited:

cnotsniw

Senior Member
Joined
Sep 17, 2004
Messages
1,121
Reaction score
5

zenify.me

Senior Member
Joined
Jul 3, 2013
Messages
2,294
Reaction score
22
Seems like a good alternative for those who have used up their singlife 10k quota.
 

sacredrays

Arch-Supremacy Member
Joined
Feb 1, 2009
Messages
11,181
Reaction score
1,246
yea.. their faq never write how much the surrender fee if close after 1 year.. :s22::s22:
 

SamSze

Junior Member
Joined
Nov 14, 2014
Messages
69
Reaction score
7
Please note that Etiqa Insurance reserves the right to delay the payment of the partial withdrawal amount for up to a period of 6 months from the date of your withdrawal application.

this t&c is very discouraging.
 

silverbomb

Master Member
Joined
Jul 23, 2008
Messages
3,933
Reaction score
682
The 70c withdrawal is a turn off. Discourages withdrawal and not as liquid as singlife being their direct competitor.

Posted from PCWX using SM-G965F
 

dexboi

Master Member
Joined
Oct 28, 2007
Messages
3,904
Reaction score
595
Depends on how you see them i suppose?

A) Recurring single premium insurance endowment plan disguise as deposit savings.

or if you want to put it in a nicer way;

B) Traditional banking deposits reinvented/disrupted with much more benefits and higher interests!
 

zumaba

Senior Member
Joined
Jul 4, 2012
Messages
2,297
Reaction score
20
How come my Dash app (updated) got no such icon 'Grow Money'?

BTW, I am not a Singtel customer, only using Dash.
 

jnashville

Banned
Joined
Feb 2, 2010
Messages
4,102
Reaction score
2
The 70c withdrawal is a turn off. Discourages withdrawal and not as liquid as singlife being their direct competitor.

Posted from PCWX using SM-G965F

its only a turn off if you treat this as a savings account and keep wanna withdraw. this type of plans are generally for people to just put 20k and leave it. for those with excess funds and got no where else to put since its only 20k max.

dont think people will keep wanna withdraw money unless thats their only source of money haha..
 

duststorm

Member
Joined
Nov 3, 2009
Messages
248
Reaction score
7
Please note that Etiqa Insurance reserves the right to delay the payment of the partial withdrawal amount for up to a period of 6 months from the date of your withdrawal application.

this t&c is very discouraging.

Any views on this? This is stopping me from applying now...
 

jnashville

Banned
Joined
Feb 2, 2010
Messages
4,102
Reaction score
2
Any views on this? This is stopping me from applying now...

my view is that i most probably wont do any partial withdrawal as this are for excess cash.

the only thing i will do is to terminate the account after a year if interest rates are better elsewhere.
 

WWH123

Supremacy Member
Joined
Oct 3, 2006
Messages
9,606
Reaction score
1,199
I take it as FD, one time withdraw after 1 year with $400 interest minus 70 cents for 20k principal.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top