GIGANTIQ Insurance Savings Plan Update: Revision of Crediting Rate from 2% p.a. to 1.8%* p.a.

GIGANTIQ Insurance Savings Plan underwritten by Etiqa Insurance Pte. Ltd. has adjusted crediting rates from 2%11 to 1.8%* per annum (p.a.) for the first S$10,000 of your policy’s account value, starting from 19 November 2020.

Read on to find out how this may affect you.

What if I am an existing policy holder?

For those who have already bought a GIGANTIQ policy before 19 November 2020, you will not be affected by this change. Existing policyholders will continue to enjoy the 2%11 p.a. crediting rate. All your top ups during the first policy year made after 19 November 2020, will also enjoy a 2%11 p.a. crediting rate.

The reduction in crediting rate will only take effect for new users who sign up for GIGANTIQ on or after 19 November 2020. 

How will this change affect me?

If you sign up for GIGANTIQ after 18 November 2020, 11:59PM, the crediting rate for your policy would be 1.8%* p.a. instead of 2.0%11 p.a.. 

Below is a breakdown of the changes:



Crediting Rate

(Before 19 Nov 2020)

Crediting Rate

(From 19 Nov 2020)

Guaranteed Crediting Rate 

1.0% p.a.

1.0% p.a.

Bonus Crediting Rate

1.0% p.a.

0.8% p.a.

Total Crediting Rate (Guaranteed + Bonus)

2.0% p.a.

1.8% p.a.

It is understandable that you may feel disappointed about the adjustment of crediting rate, it is good to keep in mind that the crediting rate of 1.8%* p.a. remains highly competitive in the current economic climate.

While GIGANTIQ is an insurance savings plan and should not be mistaken for a bank account, the lack of lock-in period makes it a good option to stash your emergency funds.

Do note that while there are no restrictions for withdrawals, there is a S$0.50 service fee for Direct Credit (POSB or DBS) withdrawal or S$0.70 service fee for PayNow withdrawal.

Did we mention that PolicyPal’s 8% p.a. bonus credit promotion will continue to be ongoing? Read on to find out how you can qualify for it.

How to start saving with GIGANTIQ on PolicyPal?

If you are wondering how to get started with GIGANTIQ, the good news is that with PolicyPal, you don’t have to worry about any long and tedious processes. 

Our in-app application process takes just under 10 minutes for you, so you can start earning the returns from GIGANTIQ almost right away. 

To start off, you can go on to our app (download it if you haven’t!). Click on the GIGANTIQ banner and you’ll be directed to our sign up page and you can start applying!

A key section of the application process is to decide how much you would like to begin to save. As mentioned earlier, you can start saving from S$50 and increase all the way up to S$200,000.

Enter all your relevant information, pay via FAST Transfer or PayNow.

Now, you can submit your application using MyInfo, by logging in with your SingPass account. This makes verifying and submitting your details fast and secure.

You will receive an email confirmation upon successful completion of your GIGANTIQ application and do give us up to 2 working days for the inception of your policy. You will also receive a confirmation email upon successful inception of the policy.

You can track and redeem your bonus PolicyPal credits (earned via referrals and purchased policies) on our PolicyPal mobile app but do take note that managing your GIGANTIQ policy itself will have to be done through Tiq by Etiqa mobile app. 

This means that all top-ups and withdrawals will be on the Tiq by Etiqa mobile app. Please take note that further top-ups and withdrawals can only be done if you have a DBS/POSB account. 

So, you may ask why the need to register on our PolicyPal mobile app?

PolicyPal promotion: Earn up to 8%# bonus credits!

We’re running an exclusive promotion on our platform where you can get bonus credits as high as 8%# p.a. if you refer your friends or purchase additional selected policies with PolicyPal.



(% of total premium on PolicyPal)

No. of Times

Max Bonus

Refer a friend to purchase GIGANTIQ




Purchase an additional policy from PolicyPal




Total Max Bonus

(Capped at a total premium of $10,000)



Important Notes

1 Guaranteed 1% p.a. + non-guaranteed 1% p.a. for the first policy year up to S$10,000 premium of your policy’s account value.

* Guaranteed 1% p.a. + non-guaranteed 0.8% p.a. for the first policy year up to S$10,000 premium of your policy’s account value.

# Up to 8% p.a. bonus credits will be accumulated by friend referral of this product or purchasing other policies via PolicyPal. Terms & Conditions Apply.

GIGANTIQ is not a bank account or a fixed deposit. It is an insurance savings plan that earns a crediting interest rate. This product’s availability is based on a first-come, first-served basis and Etiqa Insurance Pte. Ltd. reserves the right to close the tranche at any time without prior notice.

Additional interest earned from each rider is only applicable to the first S$10,000 while the rider is active. (Coming Soon)

This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). As buying a life insurance policy is a long-term commitment, 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 are recommended to read the Product Summary, Policy Illustration and policy document for the exact terms and conditions, specific details and exclusions applicable to this insurance product. You should seek advice from a qualified financial adviser who will be able to advise you on a suitable product. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. In the event that you choose not to seek advice from a financial adviser, you should consider whether the policy is suitable for you and meets your needs in light of your objectives, financial situation and particular needs.

Full details of the GIGANTIQ policy terms and conditions can be found here.

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. 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 ( or

This advertisement has not been reviewed by the Monetary Authority of Singapore.​ Information is accurate as of 19 November 2020. 



PolicyPal is here to help you make informed and savvy financial decisions through the good times and the bad.

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