Savings · short endowments · tracked 20 Jul 2026Short-term endowments, July 2026 — the tranche tracker
These 2–5 year single-premium plans are the “FD alternative” that sells out in days and reopens without warning. We track every series from the insurers’ own pages — who’s open, who’s fully subscribed, and what the open tranches guarantee vs the best fixed deposit. The honest headline right now: the open tranches (0.70%–1.44% p.a.) pay less than the best clean FD (1.55% p.a.) — this category only wins when a hot tranche is live, and the last hot one paid 3.56%.
Endowment vs fixed deposit — the honest differences
Capital guaranteed at maturity ONLYEvery insurer’s own wording warns that early surrender “may be zero or less than the premiums you have paid”. An FD forfeits interest on early withdrawal; an endowment can lose principal. Only lock away money you won’t need for the full term.
PPF protection ≠ deposit insuranceEndowments are protected under the Policy Owners' Protection (PPF) Scheme administered by SDIC — guaranteed benefits only, capped at S$100,000 for guaranteed surrender value and S$500,000 for guaranteed sum assured, per life assured per insurer. This is a DIFFERENT scheme from the S$100,000 bank Deposit Insurance Scheme.
Guaranteed vs projected returnsSince 1 Jul 2021, LIA caps illustrated returns on SGD participating policies at 4.25% p.a. (upper) and 3.00% p.a. (lower) — illustration rates, not promises. Non-participating tranches have fully guaranteed maturity values instead. We rank only on guaranteed numbers.
The tranche gameYields are set per tranche, sold first-come-first-served, and vanish when subscribed — 6 of the 8 tracked series are closed right now. If a relaunch beats FD rates, it rarely stays open long. You also get a 14-day free-look to cancel after buying.
Weighing an endowment against FDs, SSBs or T-bills?
A licensed adviser can help you:
- Compare a live tranche against FD ladders, Singapore Savings Bonds and T-bills at your amount and horizon
- Check the guaranteed-vs-projected split in the actual policy illustration
- Structure lock-ups so an emergency never forces an early surrender
Speak to an adviser →Quick answers
What short-term endowment plans are available in Singapore right now?As at 20 July 2026, only two 2–5 year single-premium endowment tranches are verifiably open: Manulife Goal 2026 (I) via DBS/POSB at 1.44% p.a. guaranteed over 2 years, and Great Eastern's GREAT SP at 0.70% p.a. over 24 months. Income's Gro Capital Ease, Singlife's Secure Saver and Digital Saver, and Etiqa's Tiq 3-Year Endowment are all closed or fully subscribed awaiting their next tranche.
Are short-term endowments better than fixed deposits?Only when a hot tranche is open. As at July 2026 the open endowment tranches pay 0.70%–1.44% p.a. guaranteed, below the best clean 12-month fixed deposit at 1.55% p.a. — but recent closed tranches paid up to 3.56% p.a. (Tiq 3-Year). The category beats FDs tranche by tranche, not permanently, which is why availability tracking matters.
Is my money safe in a Singapore endowment plan?Endowments from registered life insurers are protected under the Policy Owners' Protection (PPF) Scheme administered by SDIC — but only guaranteed benefits, capped at S$100,000 of guaranteed surrender value and S$500,000 of guaranteed sum assured per life assured per insurer. This is a different scheme from the S$100,000 bank deposit insurance. Capital is typically guaranteed only if you hold to maturity.
Can I withdraw a short-term endowment early?You can surrender early, but insurers' own wording warns the cash value 'may be zero or less than the premiums you have paid'. Unlike a fixed deposit — where early withdrawal usually just forfeits interest — surrendering an endowment early can lose principal. Every policy also has at least a 14-day free-look period to cancel after purchase.
Can I buy a short-term endowment with SRS funds?Often yes — Great Eastern's GREAT SP and Income's Gro Capital Ease both accept Supplementary Retirement Scheme funds per their official pages. Check each tranche's terms, as SRS minimums can differ from cash minimums.
Official sources
Availability and rates are a point-in-time snapshot verified 20 Jul 2026on the insurers’ official pages (Tiq and Great Eastern re-verified manually in a browser the same day); tranches open and close without notice and figures for closed tranches are shown only where the insurer still publishes them. This is market research for education and comparison — not financial advice, a recommendation, or an invitation to buy any policy. Confirm the live tranche, rates and terms with the insurer or a licensed financial adviser before committing funds.