4 ways to protect your savings with Dash PET

There’s no better time than now to keep your finances in check. 

If there’s one thing the pandemic taught us, it’s that life (and the economy) is uncertain and it’s more important than ever to have sufficient savings. Want to protect your hard-earned money while getting more out of your savings? 

Here’s how.

1 Make your money work harder, but safely

While you should never say no to making your money work harder, make sure you don’t lose it either. With a high returns insurance savings plan like Dash PET by Etiqa Insurance, you can unleash your money’s growth potential while keeping it safe.

Dash PET is capital guaranteed and currently offers one of the best rates** in the market with returns of 1.5%*^ p.a. on the first $10,000 of your savings. And the beauty of it is that there are no hoops to jump, no salary crediting or minimum spend to hit. All you have to do is save at least S$50, and opt in for the free Death & Total and Permanent Disability^ cover offered in its latest update.

Imagine earning $150 in a year just by placing $10,000 in your Dash PET policy. That’s equivalent to 2 to 3 free bubble teas a month, or perhaps a staycation to reward yourself for saving diligently? Either way, Dash PET has got your back.

2 Pick the right savings tool based on your needs

While rates of returns are important, you should also pick a savings tool that matches your objectives. One of the considerations is the lock-in period of your funds. 

For instance, if the intention is to store your emergency funds, you should look for a saving tool that is safe and liquid with no lock-in period. This means you can top up or withdraw your savings anytime. Meanwhile, if you’re saving up for a longer-term goal and have no need of cash in the short term, there are products safe-keep your savings for a fixed, longer period of time, in exchange for potentially better returns. 

Dash PET belongs to the former category (no lock-in period) BUT still gives you high returns when you park your emergency funds or day-to-day use. 

It is also a multi-hyphenate product that offers:

• High returns of 1.5% p.a.: Enjoy the base rate of 1.3%* p.a. and 0.2%^ p.a in bonus interest when you opt-in for the FREE protection.
• Free protection: Enjoy free COVID-19 coverage, including vaccine effects, and complimentary Death & Total and Permanent Disability^ coverage of up to $50,000.
• No lock-in period: No penalties or restrictions on withdrawing your money. Perfect for storing emergency funds.
• Capital guaranteed: Safe from market fluctuations or macroeconomic factors.

Dash PET is also protected up to specified limits by SDIC, which makes it even safer!

3 Budget and track your expenses

One of the key rules of saving is spending within your means. By setting a clear monthly budget, you’ll have a better idea of how much you can save or afford to spend each month. At the same time, track your expenses so you know what you’re spending most on. This also helps in identifying unnecessary expenses that you can cut on to save more.

Avoid overspending by keeping your money in separate buckets for saving or spending. We see that Dash PET is an interesting product that can work both ways - depending on your goals and lifestyle needs. For instance, you can store longer-term savings in Dash PET to enjoy the high interest rates. At the same time, your Dash PET funds are flexible and easy to transfer to your Dash wallet for your daily expenses without any transaction fees. Best of all, the transfers are instant so you can earn interests (daily!) and only transfer at the last moment when you need them.

It’s also easy to track all your Dash PET and Dash wallet transactions just by checking your history.  

4 Protect yourself against unexpected life events

It may sound contradictory to spend on insurance when the goal is to save more. But getting the right insurance coverage means you don’t need to worry about expenses and bills should unexpected life events happen.

With Dash PET, you don’t even have to pay for it. Its free coverage for Death & Total and Permanent Disability protects you for up to five times your account value and adds an additional 0.2% p.a. in interest for your first S$10,000 savings in the first year of your Dash PET policy.

Looking for more insurance coverage? Activate Dash PET’s three new add-on protection plans that offer coverage from S$10,000 to $100,000 for Major Cancer, Accidental Death and Death & Total and Permanent Disability. Premiums are affordable and start from just $0.02 a day (based on S$10,000 sum assured for a 17 year-old female non-smoker).

On top of that, each protection plan you activate gives you an additional interest on your savings, and lets you earn up to 2.25%*^# p.a.! Here’s how.

Start saving early with Dash PET

The earlier you start saving, the more protected your future will be. And with Dash PET, you can fast track this journey thanks to its high-interest rates and protection options.

Sign up for Dash PET on the Singtel Dash app today to experience these benefits for yourself. Don't wait too long as it’s a limited tranche product! Check out dash.com.sg/dashpet for the latest promotions.

 Disclaimers:

This article is written in collaboration with Singtel Dash

The information is meant purely for informational purposes and should not be relied upon as financial advice.

**Compared to similar digital insurance savings plans available for subscription, as at 9 September 2021

*For the first policy year, 1.30% p.a. up to S$10,000 and 0.30% p.a. for subsequent amount in Account Value. Crediting rate is non-guaranteed.

^Additional 0.2% p.a. to the existing 1.3% p.a. returns for your first S$10,000 Dash PET savings during the first policy year while the complimentary protection is active. Complimentary Accidental Death coverage will be offered for the same duration if you are not eligible for this add-on protection. Sum assured will be based on your age and occupation.

#Additional interests of up to 0.25% p.a. from each activated payable add-on protection applies to the first S$10,000 account value of your active Dash PET policy.

Dash PET is not a bank account or a fixed deposit. It is an insurance savings plan that earns a crediting interest rate. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). This advertisement is for general information only. Terms apply. Full details of the policy terms and conditions can be found in the policy contract on dash.com.sg/dashpet. Protected up to specified limits by SDIC. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg). As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is accurate as of 13 Nov 2021