Savings · short endowments · tracked 1 Sep 2026Short-term endowments, September 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. September brings one new tranche — DBS SavvyEndowment 23 at 1.44% p.a. guaranteed — but the FD benchmark rose again to 1.70% p.a. (CIMB online) as the whole deposit market repriced upward on 1 September, so every open endowment tranche still trails a plain FD. The last hot tranche 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 9 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. See the August snapshot for history. 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
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Quick answers
What short-term endowment plans are available in Singapore in September 2026?As at the 1 September 2026 re-verification, three 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, DBS SavvyEndowment 23 (also Manulife-underwritten) at 1.44% p.a. guaranteed over 2 years, and Great Eastern's GREAT SP at 0.60% p.a. over 24 months. Income's Gro Capital Ease, Singlife's Secure Saver and Digital Saver, and Etiqa's Tiq 3-Year Endowment remain closed or fully subscribed awaiting their next tranche.
Are short-term endowments better than fixed deposits?Only when a hot tranche is open — and September widened the gap the wrong way. The open endowment tranches pay 0.60%–1.44% p.a. guaranteed, while the best clean 12-month fixed deposit rose to 1.70% p.a. (CIMB online, effective 1 September; BOC's app pays 1.65% from just S$500). Recent closed tranches paid up to 3.56% p.a. (Tiq 3-Year), which is why availability tracking matters — the category beats FDs tranche by tranche, not permanently.
What is DBS SavvyEndowment 23?SavvyEndowment 23 is the newest tranche of DBS's digital-exclusive single-premium endowment series, underwritten by Manulife, verified live on DBS's page on 1 September 2026. It guarantees 1.44% p.a. at maturity over 2 years (DBS illustrates S$582 guaranteed on a S$20,000 premium) with 100% of capital guaranteed at maturity; a 'potential' 1.60% p.a. is illustrated but not guaranteed.
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.
Official sources
Availability and rates are a point-in-time snapshot re-verified 1 Sep 2026on the insurers’ official pages (Tiq re-verified manually in a browser the same day — its page blocks automated checks); tranches open and close without notice and figures for closed tranches are shown only where the insurer still publishes them. DBS moved its Manulife Goal page and Income its Gro Capital Ease page during August — source links updated. 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.