It’s no secret that savings account and fixed deposit interest rates in Singapore are dismal. So, it’s no surprise that non-bank accounts like the Singlife Account, Etiqa’s Gigantiq and Dash EasyEarn are becoming more and more popular.

Known as insurance savings plans, these are a relatively new type of financial product that behave a bit like bank accounts, but offer the promise of better growth potential for your hard-earned cash.