GREAT SP Series 10

GREAT SP Series 10

GREAT SP Series 10 OCBC Bank

GREAT SP Series 10 is a short term Endowment plan that provide guaranteed returns of 4.00% p.a. at the end of 1 year. As this is a limited tranche, it is available on a first come first serve basis.

If you are not familiar with GREAT SP Series, the benefits of this endowment plan are

  • 100% capital guaranteed upon maturity.
  • Payment for the premium using your SRS funds or cash.
  • Insurance coverage for Death and Total & Permanent Disability.
  • No medical check up required.

What are Endowment Plans?

I have been repeating this in my previous posts. Endowment plans are life insurance saving plans offered by insurance companies.

The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.

Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.

In this case, GREAT SP Series 10 offers you 4% p.a. guaranteed return upon maturity.

How It Works?

Below is a pictorial illustration on how GREAT SP Series 10 works.

Just for illustration, if you pay a single premium of S$100,000, you will receive a total guaranteed payout of S$104,000 (S$100,000 + S$4,000) after the end of 1 year policy term.

GREAT SP Series 10 How It Works

GREAT SP Series 10 versus Singapore Savings Bond (SBAPR23 GX23040S)

If you hold and sell the current issue (SBAPR23 GX23040S) after 1 year, the effective interest rate is 3.01%.

Year from issue dateInterest %Average return per year %*

Needless to say, GREAT SP Series 10 offers higher returns at 4.0% p.a. as compared to 3.01% p.a.

Summary of GREAT SP Series 10

Below is a summary of the Pros and Cons of GREAT SP Series 10 endowment plan.


  • Short 1-year commitment.
  • 100% capital guaranteed after 1 years.
  • High interest rates at 4.00% p.a.
  • Pay using cash or Supplementary Retirement Scheme (SRS) funds.
  • Comes with insurance coverage for death and total and permanent disability.


  • Minimum starts at S$10,000. Personally, I felt that this is slightly high.

You can either buy it directly from Great Eastern Life’s website or via OCBC Banks website.

Disclaimer: This is Not a sponsored post and the opinions are solely based on My Sweet Retirement’s opinion.

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