Following our first review on Singtel Dash Pet, there is a new launch by Singtel Dash to get more return on your savings.
Dash PET Plus helps you invest your money into money market funds.
From as little as S$1,000, you can grow your money with Dash PET by Etiqa Insurance.
Note: This post is sponsored by Singtel Dash. All views and opinions expressed in this post are from Financial Horse.
Basics: What is Singtel Dash PET
In our first review on Dash PET, we covered the basics of the Dash PET insurance savings plan.
To recap, Dash PET allows you to:
- Protect – Insurance coverage including free life protection & Covid-19 coverage
- Earn – Get up to 1.5% p.a. returns*^, starting from as low as S$50
- Transact – Easy top-up and withdrawal to Dash wallet or bank account, and no lock-in period
For your first S$10,000, enjoy:
- 1.3%* p.a. base rate
- Extra 0.2%^ p.a. with activation of free protection
- Up to 0.75%# p.a. returns with paid add-on protection (up to 3 plans)
Free Insurance Protection + extra 0.2%^ p.a. interest
As a bonus, Dash PET offers free protection coverage on Death & Total and Permanent Disability of up to S$50,000 (5X first S$10,000 account value).
And if you do so, you get an extra 0.2%^ p.a. interest on your first S$10,000.
3 Add-On Protection Plans + up to 0.25%# interest per add-on plan
You can also add-on these protection plans to supplement your coverage.
There are 3 protection plans to choose from, with up to S$100,000 coverage per plan:
- Major Cancer – Covers critical stage cancers, and complements existing critical illness plans
- Accidental Death – Lump sum payment in the event of accidental death
- Death & Total and Permanent Disability – Lump sum payment in the event of death or total and permanent disability
You get additional interest of up to 0.25%# p.a. from each add-on protection plan, on the first S$10,000.
Find out more details here.
*New Launch* – Dash PET Plus
The latest offering from Singtel Dash is Dash PET Plus – an investment-linked policy (ILP) that’s built onto the existing Dash PET offerings.
This effectively allows you to invest into a money market fund and bond fund for potentially higher returns.
You can start investing from S$1,000 with the flexibility to top-up and withdraw any time.
4 Advantages with Dash PET Plus:
- Choice
- In addition to the current offerings with Dash PET, you get additional options to grow your money
- Ease
- Portfolio managed by UOB Asset Management, with low management charge at 0.75% p.a.
- Returns
- Higher potential returns on your savings
- Flexibility
- Unlimited top-up & withdrawals, and you can choose between re-investing or cashing out your dividend earnings
Dash PET Plus Portfolio – Invest in a bond & money market fund for potentially higher returns
There are 2 Portfolio Funds to choose from:
- Dividend Reinvest
- Dividend Cashout
Asset Allocation of Dash PET Plus Portfolio
The Portfolio Fund combines a Money Market Fund and a Bond Fund, with a rebalancing feature to achieve this objective.
The 2 funds used are:
- United Singapore Bond Fund
- United SGD Money Market Fund
Dividend Reinvest
The allocation currently is 50% United Singapore Bond Fund A SGD Acc + 50% United SGD Money Market Fund
The ideal allocation is 80% United Singapore Bond Fund A SGD Acc + 20% United SGD Money Market Fund
Dividend pay outs will be reinvested back into the portfolio.
Dividend Cashout
The allocation currently is 50% United Singapore Bond Fund A SGD Dist + 50% United SGD Money Market Fund
The ideal allocation is 80% United Singapore Bond Fund A SGD Dist + 20% United SGD Money Market Fund
Dividends are paid out to you.
What is United Singapore Bond Fund?
This is basically a bond fund.
Key details are set out below:
- ILP Sub-Fund Manager
UOB Asset Management Ltd - Investment Objective
The investment objective of the Fund is to generate long term capital appreciation and/or income for investors in SGD terms by investing primarily in fixed income or debt securities. - Underlying Funds
This ILP Sub-Fund feeds into the United Singapore Bond Fund, a Sub-Fund of the United Global Portfolios, which is managed by UOB Asset Management Ltd. - Source of Fund
Cash - Benchmark
TR/SGX SFI Government Bond Index
Access the fund fact sheet here.
Historical returns of United Singapore Bond Fund
Historical returns are below, and they’re basically what you would expect with a short-term bond fund.
10-year returns are 2.6%, but returns over the past year have been poor because of the rapid rise in short term interest rates.
Just like with any money market fund, this is not capital guaranteed, so there is a small risk of loss of capital.
And in the short term if interest rates go up, there is a chance of capital losses like we saw the past year. In such cases if you don’t want to eat the capital loss, you may have to park the cash here for a while and wait for prices to recover.
What is United SGD Money Market Fund?
This is intended as a lower risk money market fund, equivalent to fixed deposits.
Key details below:
- ILP Sub-Fund Manager
UOB Asset Management Ltd - Investment Objective
The investment objective of the Fund is to provide a return which is comparable to that of Singapore dollar short-term deposits. - Underlying Funds
This ILP Sub-Fund feeds into the United SGD Money Market Fund, a Sub-Fund of the United Liquidity Solutions Portfolios, which is managed by UOB Asset Management. - Source of Fund
Cash - Benchmark
3M Bank Deposit Rate
Access the fund fact sheet here.
Historical Returns of United SGD Money Market Fund
The return is about 0.79% p.a. since inception.
Do note that this is not capital guaranteed.
Interestingly, even with the rapid moves in interest rates the past 6 months, 3 – 6 month returns have still been positive.
Only the 1 month returns are negative, at a very low -0.01%.
So again, low risk fund, but still not risk free.
Fund summary can be found here.

ILP Sub Fund Historical Performance
Further breakdowns of the historical performance of the money market funds / bond funds below.
Again, note the poor 1 year performance of the Bond Fund, because of the rapid rise in short term interest rates.
The portfolio’s allocation is reviewed quarterly and is subject to changes.
Capital and returns are not guaranteed. Past performance is not a guarantee for future returns.
Stay updated on your portfolio fund prices here.
Fees and Charges
In terms of fees, you have to pay:
- Management Charge – 0.75% per annum of your Dash PET Plus account value.
- Fund Management Fee – Expense ratio at the fund level, which is 0.32-0.77% depending on the fund in question (0.32% for the Money Market Fund, 0.73-0.77% for the Bond Fund). Individual funds’ management fee can be found here.
Fees and charges are subject to changes and a thirty (30) days’ written notice will be provided to you if Etiqa does so.
Dash PET Plus as a complement to Dash PET
Dash PET Plus serves as a complement to Dash PET.
Remember to opt-in to receive FREE insurance coverage!
Simply follow these steps:
Launch Dash > Home screen > ‘Grow Money’ tile > Dash PET > Add-on Protection > Activate Now
Sign Up now for Cashback
Sign up here!
Dash PET Plus Cashback Promotion – Terms & Conditions here.
Activate Dash PET Plus
Dash PET Plus is available for Dash PET users.
On the Dash PET dashboard, select Dash PET Plus:
- Select your portfolio fund option: Dividend Reinvest or Dividend Cashout
- Complete the Customer Knowledge Assessment (CKA)
- Fund your Dash PET Plus account from S$1,000
Sign up here!
Note: This post is sponsored by Singtel Dash. All views and opinions expressed in this post are from Financial Horse.
Disclaimers:
*For the first S$10,000 Account Value: 1.3% p.a. for the first policy year. For above first S$10,000 Account Value: 0.3% p.a. for the first policy year. Crediting rates are non-guaranteed.
^Additional 0.2% p.a. interest applies to the first S$10,000 account value of your active Dash PET policy during the first policy year while the complimentary protection is active. Complimentary protection sum assured is based on up to 5X of the first S$10,000 of your Dash PET Account Value. Complimentary Accidental Death coverage will be offered for the same sum duration if you are not eligible for this add-on protection. Sum assured will be based on your age and occupation.
# Additional interests of up to 0.25% p.a. from each activated payable add-on protection applies to the first S$10,000 account value of the active Dash PET policy.
**Based on comparison with similar digital insurance savings plans available for subscription. Information accurate as at 9 September 2021. This comparison does not include information on all similar products. Etiqa Insurance does not guarantee that all aspects of the products have been illustrated. You may wish to conduct your own comparison for products that are listed in www.comparefirst.sg.
Dash PET is not a bank account or a fixed deposit. It is an insurance savings plan that earns a crediting interest rate. Dash PET Plus is an Investment-linked Plan (ILP) which invest in ILP sub-fund(s). Investments in this plan are subject to investment risks including the possible loss of the principal amount invested. The performance of the ILP sub-fund(s) is not guaranteed and the value of the units in the ILP sub-fund(s) and the income accruing to the units, if any, may fall or rise. Past performance is not necessarily indicative of the future performance of the ILP sub-fund(s).
These policies are underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). This content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract. Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an 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 should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is accurate as at 9 June 2022.
Singtel Dash terms apply.