Etiqa’s ELASTIQ and SAVE3?

[wenguang]

haven try the withdrawal yet. thanks to confirm that it is almost immediate

 

[Twinsen]

Got some non-encashable reward... anyone know how to use it? Thanks.

 

[rkesin]

Got some non-encashable reward... anyone know how to use it? Thanks.

Can use it to purchase general insurance policies from etiqa (car, travel etc)

 

[jnashville]

what do u all think of the tiq eeasy save V plan?

its 2.68percent guaranteed for 6 years. if u do a lump sum payment for the 2 year premium, it will be given a 1.5 percent discount.

so example if u wanna put in 100k and u do a lump sum premium, u only have to deposit $98500 and your account will have $100k.

after 6 years, the guaranteed yield will be around 2.59 percent and there is a loyalty bonus if u didnt do any partial withdraw within the 6 years.

can treat it like a FD

 

[blurboiboi80]

what do u all think of the tiq eeasy save V plan?

its 2.68percent guaranteed for 6 years. if u do a lump sum payment for the 2 year premium, it will be given a 1.5 percent discount.

so example if u wanna put in 100k and u do a lump sum premium, u only have to deposit $98500 and your account will have $100k.

after 6 years, the guaranteed yield will be around 2.59 percent and there is a loyalty bonus if u didnt do any partial withdraw within the 6 years.

can treat it like a FD

Is it capital guaranteed for this?

 

[jnashville]

Is it capital guaranteed for this?

yup capital guaranteed and interest guaranteed if u don't touch it for 6 years.

It is also SDIC insured.

only downside is its 6 years long. i am contemplating hard to put my money in there since now interest rates are low.

after 6 years, if u put in 100k, u will get $115652. And u can terminate this account with no charges.

Averaged out about 2.6 per annum.

 

[flyboy]

Please send me a PM with a referral code for direct purchase via the Etiqa website, to split the referral award.

Same here. Thanks.

 

[blurboiboi80]

yup capital guaranteed and interest guaranteed if u don't touch it for 6 years.

It is also SDIC insured.

only downside is its 6 years long. i am contemplating hard to put my money in there since now interest rates are low.

after 6 years, if u put in 100k, u will get $115652. And u can terminate this account with no charges.

Averaged out about 2.6 per annum.

Thanks! seem like there's no compounding element on the year on year interest earned... but still it is not too bad based on the current climate we are in, I think...

 

[jnashville]

Thanks! seem like there's no compounding element on the year on year interest earned... but still it is not too bad based on the current climate we are in, I think...

yea of course. no compounding interest. even FD's also do not have compounding interest.

u put in the tiq 1.8 percent, i dont think theres any compounding as well.

 

[flyboy]

https://www.tiq.com.sg/promotion/save-smart-promotion/

Does the referral program stack with their save smart promotion for cashback?

 

[oceanicmanta]

https://www.tiq.com.sg/promotion/save-smart-promotion/

Does the referral program stack with their save smart promotion for cashback?

yes it does

 

[luvpraline]

what do u all think of the tiq eeasy save V plan?

its 2.68percent guaranteed for 6 years. if u do a lump sum payment for the 2 year premium, it will be given a 1.5 percent discount.

so example if u wanna put in 100k and u do a lump sum premium, u only have to deposit $98500 and your account will have $100k.

after 6 years, the guaranteed yield will be around 2.59 percent and there is a loyalty bonus if u didnt do any partial withdraw within the 6 years.

can treat it like a FD

i placed some in tiq eEasy save V. this is decent for medium term and crediting rate is guaranteed, just make sure that it is money that u will not touch for 6 years. if factor in all the vouchers i received, the returns are higher than stated.

 

[flyboy]

I have intended to do CPF Housing Refund to my OA. Now comparing having to incur CPF OA 2.5% acrueed interest (and cannot withdraw), vs this paying 2.68% after 6 years, I should prioritise Easy Save V over CPF Housing Refund right?

Secondly, does this Etiqa Product have synergy with their Maybank Save Up account program?

 

[jnashville]

I have intended to do CPF Housing Refund to my OA. Now comparing having to incur CPF OA 2.5% acrueed interest (and cannot withdraw), vs this paying 2.68% after 6 years, I should prioritise Easy Save V over CPF Housing Refund right?

Secondly, does this Etiqa Product have synergy with their Maybank Save Up account program?

yea u should prioritise easy save V instead of paying up your housing loan as this is guaranteed. You also have the Dependants Protection scheme too for your housing loan if any unforseen stuff happens.

cant answer your second question. You referring whether the max amount of SDIC coverage that will be for this plan be also combine with the maybank save up program?

Good to know. i also want to know.

 

[flyboy]

yea u should prioritise easy save V instead of paying up your housing loan as this is guaranteed. You also have the Dependants Protection scheme too for your housing loan if any unforseen stuff happens.

cant answer your second question. You referring whether the max amount of SDIC coverage that will be for this plan be also combine with the maybank save up program?

Good to know. i also want to know.

Thanks for replying. Just to clarify, it is the CPF OA fund used for housing, and not Housing Loan.

 

[jnashville]

Thanks for replying. Just to clarify, it is the CPF OA fund used for housing, and not Housing Loan.

oh u meant refunding of your sales proceeds back to your OA account?

i did that when i bought my resale too 6 months ago. i had sales proceeds given in cash to me when i sold off my first home. I didnt put it back to OA but i put it back to offset the housing loan.

 

[flyboy]

oh u meant refunding of your sales proceeds back to your OA account?

i did that when i bought my resale too 6 months ago. i had sales proceeds given in cash to me when i sold off my first home. I didnt put it back to OA but i put it back to offset the housing loan.

Uhm, not sale proceeds. I still have this property. It is the money from OA, used for the downpayment. This money has been acrueing the 2.5% all these while.

 

[jnashville]

Uhm, not sale proceeds. I still have this property. It is the money from OA, used for the downpayment. This money has been acrueing the 2.5% all these while.

haha oh man i really dunno what u mean but its fine. if its used for downpayment, then it should be gone already from your OA. Downpayment of an apartment is like either 5 percent/ 10 percent or 20 percent for pte property right? ahh anyway dont have to explain haha..

since its 2.5...and this etiqa plan is 2.68... u should know what to do.

edit. did a google search.

https://www.cpf.gov.sg/members/FAQ/...Housing Scheme&folderid=11762&ajfaqid=2186682

https://www.valuebuddies.com/thread-8489.html

U are doing this? this is to ensure you dont get that accrued interest after u sell your property? anyway, i rather just top up to my SA account instead. But then i cant advise, dont really know the implications. but yea i had some extra cash so i just topped up my SA account too.

 

[DOINK1]

I think you have to account the compounding interest of the OA 2.5%. Don't think Etiqa interest is compounded, its just interest annually according to capital.

Etiqa is more liquid though.

 

[oceanicmanta]

I think you have to account the compounding interest of the OA 2.5%. Don't think Etiqa interest is compounded, its just interest annually according to capital.

Etiqa is more liquid though.

Etiqa 2.68%pa interest is compounded annually based on the projected guaranteed account values from the illustration provided a few posts earlier.