September 30, 2023

It has been a very good 3 years.

Again in 2019, I signed up for Etiqa’s ELASTIQ plan which affords assured 2.02% for the primary 3 years. I began with $5k preliminary deposit first, and high up one other $10k after because the rate of interest setting then was unhealthy.

Curiosity dropped

Now that 3 years is up, Etiqa has despatched me an e-mail informing of the revised curiosity all the way down to 1.2%

Expensive Valued Buyer,

We hope you’re maintaining properly and secure.

As COVID-19 continues to disrupt monetary markets and economies, the extended uncertainty has made it difficult to keep up the present crediting fee and loyalty bonus of your coverage. We want to inform you that the present crediting fee and loyalty bonus on your ELASTIQ coverage might be revised as follows:

Coverage Quantity

Revised Crediting Fee* after third yr

Revised Loyalty Bonus

Efficient date

: xxxxx

: 1.20% each year

: 0.00% of the typical month-to-month account worth for the previous 36 coverage months

: xxxxx

*relevant to preliminary premium and top-up(s)

At this revised fee, your account worth will proceed to develop with 100% capital assured. Additionally, you will benefit from the flexibility to high up or withdraw out of your funds at your personal comfort.

0% loyalty bonus

As well as, there was speculated to be a 0.3% loyalty bonus if you don’t make any withdrawal for the previous 36 months. Sadly, this has gone all the way down to 0.

With this drop in rate of interest, I’ll now be cashing out the complete quantity. 

Earlier than: 


Money out course of

Sadly, the withdrawal course of is just not that easy. I’m not capable of withdraw absolutely through their web site. As an alternative, I needed to e-mail them and look forward to the paynow switch in 5 working days.

It has been a comparatively good expertise with Etiqa and I am going to miss this curiosity in comparison with what I am getting from DBS Multiplier. Hopefully, this $15k will develop additional after I pumped it to different riskier performs.