My Thoughts on Dash Easy Earn

Previously, I talked about a nifty insurance saving account called Singlife that gives almost 2.5% p.a link here.

It seems like a trend, as Etiqa Insurance has now worked with Dash(Singtel) to come out with another insurance saving plan that gives close to 2% pa. Again, this post is not sponsored just my own personal experience.

Very similar to Singlife, the money you put in is capital guaranteed. This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you.

The maximum amount to top up to get close to 2% pa is $20,000. You can start saving from S$2,000 up to a maximum of S$20,000, in multiples of S$500. Do note the 2% pa interest(close to) is only for the first year.

To enjoy the returns and benefits, you will need to maintain at least S$2,000 average daily account value to be entitled for interest crediting. Interest will be shown daily but will be credited after the calendar month.

I opened this account today and did a $20k top up as shown above. It uses eNET D2P to transfer money from my bank to Dash EasyEarn. Its a pretty straightforward method, but limited to these six banks only: DBS, OCBC, POSB, UOB, Standard Chartered and Citibank. 

The transfer is immediate. There is also a dedicated whatsapp number to communicate directly with the customer service. Their response time is pretty fast.

With the recent BOC smartsaver nerf, it seems like lesser people are willing to put more cash into traditional savings or hurdle savings accounts. So a SDIC protected insurance saving account may be a good alternative. 

You can withdraw any amount to your dash without any charges(do note maximum dash can hold is only $999 at one time), but transferring out to your bank account via paynow has a 70 cts withdrawal fee. Not a big issue, as you can transfer your interest to dash and use it like a debit card for other payments. A good alternative.

As of today, my cash breakdown are in this order:

Singlife 2.5%

Dash EasyEarn 2%

BOC Smartsaver