September 26, 2023


Learn Business From Experience

Surrendering my Etiqa 2.02% after 3 years

2 min read

It has been a very good 3 years.

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

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 preserving effectively and protected.

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

Coverage Quantity

Revised Crediting Fee* after third yr

Revised Loyalty Bonus

Efficient date

: xxxxx

: 1.20% every 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 price, 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 individual comfort.

0% loyalty bonus

As well as, there was imagined 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 will not be that easy. I’m not capable of withdraw absolutely by way of their web site. As an alternative, I needed to e mail them and await the paynow switch in 5 working days.

It has been a comparatively good expertise with Etiqa and I will 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.

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