Etiqa’s ELASTIQ and SAVE3?

[BBQ99]

I saw ELASTIQ increase the Top up amount interest rate from 1.2% to 1.8% ( yes i am aware a lot of FD is better currently but I need an account that can park some $$ for SSB especially since its interest is pay daily). I been checking the the daily interest gain but it seems to be still 1.2% for Top up amount. Have any one got the 1.8% interest for the top up sum?

 

[ekardo]

I saw ELASTIQ increase the Top up amount interest rate from 1.2% to 1.8% ( yes i am aware a lot of FD is better currently but I need an account that can park some $$ for SSB especially since its interest is pay daily). I been checking the the daily interest gain but it seems to be still 1.2% for Top up amount. Have any one got the 1.8% interest for the top up sum?

is it only for new customer?

anyway, moved out of TIQ totally already.,.

 

[BBQ99]

is it only for new customer?

anyway, moved out of TIQ totally already.,.

Should not be. The floating interest was updated from 1.2% to 1.8% and it is indicated the floating interest is market rate and is for the amount Top up. The intital Sum place will remain at 1.8% for 3 years then will also follow the current market rate. I think i will check with their customer service today.

 

[BBQ99]

They just move the floating interest back to 1.2%. I think I will exit also.

 

[maumu]

zzz.. and I thought they're nice enough to up the top-up rate to 1.8%

need to wait till next June before my 3-years is up... to get the extra 0.3% bonus leh. haiyo.

 

[oceanicmanta]

zzz.. and I thought they're nice enough to up the top-up rate to 1.8%

need to wait till next June before my 3-years is up... to get the extra 0.3% bonus leh. haiyo.

i think not worth to wait for the 0.3% bonus ... it works out to be just additional 0.1%pa to the original 1.8%pa

so, on $200k principle, the 0.3% works out to be $600 more

think other instruments can easily make up this $600

 

[BBQ99]

Yup . Likely close this and move to FD next mth rates

 

[luvpraline]

What... they increased the rate for a few days then dropped it again?? Anyhow..

I have withdrawn the top up amount.. am keeping the initial premium until the other flexible accounts exceed 1.8%.

 

[BBQ99]

What... they increased the rate for a few days then dropped it again?? Anyhow..

I have withdrawn the top up amount.. am keeping the initial premium until the other flexible accounts exceed 1.8%.

i am waiting for the interest to hit the next 500$ block in the next 2 weeks. Then i will leave a few $$ there.

 

[FlyGuardX]

is partial withdrawal done out of top up amount or initial premium?

 

[BBQ99]

is partial withdrawal done out of top up amount or initial premium?

I cannot confirm this. I heard after partial withdrawal the $ value of the initial deposit in the app did not drop. So the guess it will withdrawal from Interest -> Top up -> initial premium. I will try out myself around 2 weeks time.

I think the FD is already better than 1.8 might as well park there. but i understand there is loss of liquidity.

 

[Utonian]

note that partial withdrawal lowers the total you can hold in elastiq permanent.
e.g withdraw 5k, then total of initial + top up and only add up to 195k

 

[Guojing88]

note that partial withdrawal lowers the total you can hold in elastiq permanent.
e.g withdraw 5k, then total of initial + top up and only add up to 195k

Meaning, once you withdraw $X, the max up drops by that same amount?

Basically once you withdraw, you cannot top up again?

 

[BBQ99]

Etiqa call me to tell me the floating interest is 1.2% not 1.8%. I ask them why drop after updating to 1.8%. They indicated that they have not intended for the increase. Got the feeling that they are hoping all will close off this account with them.

 

[oceanicmanta]

Meaning, once you withdraw $X, the max up drops by that same amount?

Basically once you withdraw, you cannot top up again?

initial amount + cumulative top up must not exceed $200k at any point

if under $200k, still can top up after withdraw

 

[luvpraline]

Etiqa call me to tell me the floating interest is 1.2% not 1.8%. I ask them why drop after updating to 1.8%. They indicated that they have not intended for the increase. Got the feeling that they are hoping all will close off this account with them.

Sounds like someone made a mistake. You all going to keep Elastiq?

 

[TsukiSG]

Etiqa call me to tell me the floating interest is 1.2% not 1.8%. I ask them why drop after updating to 1.8%. They indicated that they have not intended for the increase. Got the feeling that they are hoping all will close off this account with them.

Where did you see they increased to 1.8%?

 

[BBQ99]

Where did you see they increased to 1.8%?

In the App. where the indicated the floating interest. It was only for 2 or 3 days and it turn back to 1.2%.

 

[yiron]

In the App. where the indicated the floating interest. It was only for 2 or 3 days and it turn back to 1.2%.

I saw the "Current Crediting Rate" as 1.8% for a few days last week as well, both in Tiqconnect web portal and Tiq app.

Now it reverted back to 1.2%

 

[ekardo]

I saw that when I am closing the account too.