The long wait is over! Gro Capital Ease launched in June 2023 is offering a guaranteed yield at maturity of 3.55% per annum at the end of the 3 year policy term. The single premium insurance savings plan provides a maturity benefit of 111.03% at the end of the 3 years.
Similar to past tranches, this plan is available on a limited tranche & first come, first served basis only.
What are Endowment Plans?
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.
Why Gro Capital Ease?
The minimum single premium for online purchase starts at $10,000 which is payable via PayNow QR, eGIRO (DBS/POSB) or Supplementary Retirement Scheme (SRS) funds.
If a purchase is made through a financial advisor representative, the minimum payable is S$20,000 via cash, eGIRO or SRS. The maximum single premium limit for each insured is $500,000.
As compared to Endowment plans offered by other providers, Gro Capital Ease is the only endowment plan that lets you pay via your Supplementary Retirement Scheme (SRS) funds.
If you have funds sitting in your Supplementary Retirement Scheme (SRS), you can consider buying this tranche of Gro Capital Ease using your SRS funds for the higher guaranteed returns.
At this point of writing, I have deployed my idling funds in my Supplementary Retirement Scheme (SRS) into Gro Capital Ease.
Gro Capital Ease June 2023 versus SBJUL23 GX23070H
The effective interest rate for July 2023 Singapore Savings Bonds (SBJUL23 GX23070H) is 2.82% if you held it for 10 years.
If you sell it after 3 years, the average return per year is only a mere 2.76%.
| Year from issue date | Interest % | Average return per year %* |
| 1 | 2.76 | 2.76 |
| 2 | 2.76 | 2.76 |
| 3 | 2.76 | 2.76 |
The Gro Capital Ease tranche for June 2023 is the clear winner against Singapore Savings Bond.