Great Eastern's GREAT SP is a 24-month single-premium endowment that returns your capital plus a guaranteed rate at maturity, with no medical check and a S$10,000 minimum. The catch is the rate, which Great Eastern resets in tranches. As of 1 December 2025 the SGD tranche guarantees 0.70% per annum on maturity - lower than a 6-month Singapore T-bill, which cut off at 1.47% in the 18 June 2026 auction, and lower than the June 2026 Singapore Savings Bond. So the honest answer for most young working adults: GREAT SP does what it says, but the parked cash usually earns more in a T-bill, an SSB, or a fixed deposit right now. The USD version pays 3.38% p.a. over 36 months but adds currency risk. This guide breaks down how the plan works, the exact current numbers, where your capital protection actually comes from, and how it stacks up against the alternatives.
GREAT SP (short for Great Eastern Single Premium) is a short-term, non-participating endowment plan. You pay one lump sum up front, hold it for the policy term, and get your capital back plus a guaranteed return at maturity. Non-participating means there are no bonuses and no par fund surplus to chase - the figure quoted is the figure you get, so there is nothing to project or hope for.
It sits in the same bucket as a fixed deposit or a Singapore Savings Bond rather than an investment. You are not buying market exposure or insurance protection in any meaningful sense. The death and disability benefit exists, but it is small (105% of your premium) and the plan is really sold as a place to park cash for a fixed period at a known rate.
Great Eastern sells GREAT SP in tranches. Each tranche has its own guaranteed rate, and when a tranche sells out or the rate environment shifts, they close it and open a new one at a different rate. That is the single most important thing to understand: the rate you read in an old blog post is almost certainly not the rate on offer today.
Here are the figures Great Eastern published for the SGD tranche current as of 1 December 2025. Treat these as a snapshot - check the live tranche before you commit, because the rate is the one thing that moves.
The guaranteed return is 0.70% per annum on maturity over a 24-month term. The minimum single premium is S$10,000 for ages 65 and below (cash or SRS). For ages 66 to 75 the minimum is S$20,000 in cash or S$15,000 via SRS. Maximum entry age is 80 (age next birthday). You can apply online from age 19 to 75, or at a branch from age 1 to 75.
The death and total permanent disability benefit pays 105% of your single premium, or the policy's surrender value, whichever is higher. Your capital is 100% guaranteed at maturity. You can pay with cash, SRS funds, or maturity rollover (MRO) proceeds from another Great Eastern policy.
| Feature | Detail |
|---|---|
| Guaranteed return | 0.70% p.a. on maturity |
| Policy term | 24 months |
| Minimum premium (age 65 and below) | S$10,000 (cash or SRS) |
| Minimum premium (age 66 to 75) | S$20,000 cash / S$15,000 SRS |
| Maximum entry age | 80 (age next birthday) |
| Death / TPD benefit | 105% of premium, or surrender value, whichever is higher |
| Capital guarantee | 100% at maturity |
| Payment methods | Cash, SRS, maturity rollover |
| Medical check | None |
The way Great Eastern structures the return trips up a lot of people. The 0.70% is not a single lump sum bolted on at the end. It is paid as a guaranteed survival benefit, and the plan pays one at the 12-month mark and another at the 24-month mark, with your full capital returned as the maturity benefit at the end. So you are looking at two small guaranteed payouts plus your principal back, not one number that magically appears in month 24.
At policy issue you choose what happens to each survival benefit. You can take it as cash (paid out to you when it falls due), or you can leave it with Great Eastern to accumulate. The catch with accumulating is that the interest you earn while it sits there is non-guaranteed, and Great Eastern can change that rate without notice. So the only part of GREAT SP that is genuinely guaranteed is the 0.70% itself plus your capital - the accumulation interest is a separate, softer promise.
This matters for the comparison maths. If you take the survival benefits as cash and reinvest them elsewhere at a higher rate, your effective return edges up a little. If you let them accumulate at the non-guaranteed rate, you are back to trusting an unquoted figure. Either way the headline 0.70% is the number to plan around.
Applying is light-touch by design. You can buy GREAT SP online from age 19 to 75, or at a branch from age 1 to 75, with no medical questions inside the entry-age limits. Once you submit, the payment clock starts: pay by cash or SRS and you have 7 calendar days to fund the policy in full. If you are funding it with maturity rollover proceeds from another Great Eastern policy, that settles in the 14 to 30 days before the source policy matures instead.
The death and TPD benefit is real but thin, and the exact figure depends on age. For most policyholders it pays 105% of your single premium or the surrender value, whichever is higher. Buy at an older age - broadly from 81 at last birthday - and the death benefit steps down to 101% of premium or surrender value. The total permanent disability cover also has a quiet limit: for most TPD definitions it only applies before the policy anniversary at age 65, with the heavier definitions (total loss of sight in both eyes, or loss of use of two limbs) covered for the full term.
None of this turns GREAT SP into a protection plan. The benefit barely clears your own premium, so treat the cover as a rounding-up gesture rather than a reason to buy. If you actually need life or disability protection, a term life policy buys far more cover per dollar.
Older write-ups for GREAT SP quote rates like 3.20% or even 4.00% p.a. Those were real, but they were earlier tranches sold when Singapore interest rates were high. The current 0.70% reflects the rate environment in late 2025 and into 2026, which has come down sharply.
You can see the same move in government instruments. The 6-month Singapore T-bill cut off at 1.47% in the 18 June 2026 auction, down from well above 3% in 2023. The June 2026 Singapore Savings Bond opened at a 1.46% first-year rate. Endowment tranche rates ride the same wave, so when you read a glowing review citing a 3%+ guaranteed return, check the date - it almost certainly predates this rate cycle.
The practical takeaway: never judge GREAT SP (or any tranche-based endowment) on a historical rate. The only number that matters is the one on the current illustration, and right now that number is modest.
For a young working adult sitting on cash for two years, the relevant question is not 'is GREAT SP safe' - it is - but 'does it pay more than the boring alternatives'. At the current 0.70% tranche, the answer is usually no.
The table below puts the SGD GREAT SP next to the instruments most people actually use to park short-term money. Rates for T-bills, SSBs and fixed deposits change frequently, so confirm the live figure before acting - these are the most recent values at the time of writing.
| Option | Indicative return | Term | Capital protection | Notes |
|---|---|---|---|---|
| GREAT SP (SGD) | 0.70% p.a. | 24 months | 100% at maturity (PPF up to limits) | Surrender early and you can get back less than you paid |
| 6-month T-bill | 1.47% (18 Jun 2026 cut-off) | 6 months | SGS, backed by the SG government | Sold at MAS auctions; yield set by demand |
| Singapore Savings Bond | 1.46% Y1, 2.11% 10-yr avg (Jun 2026) | Up to 10 years | Backed by the SG government | Redeem any month with no penalty |
| 12-month fixed deposit | Up to ~1.60% p.a. (Jun 2026 promo) | Typically 6-12 months | SDIC up to S$100,000 | Promo rates need fresh funds; early withdrawal forfeits interest |
GREAT SP is not the only single-premium endowment fighting for your parked cash. Etiqa and NTUC Income run near-identical products, and the right pick depends less on brand than on term, currency and how the payout is shaped. Because every one of these is sold in tranches, the live guaranteed rate is the deciding factor, and it moves - so the table below compares structure, not a rate snapshot. Pull each plan's current illustration before you choose.
The structural read is simple. GREAT SP's 24-month term is the shortest of the SGD options, which is its main edge if you want your capital free sooner. The three-year plans from Etiqa and NTUC Income lock you in a year longer, so they need to pay a clear premium over a T-bill ladder to justify the extra wait. None of them lets you exit mid-term without a surrender hit, which is the trait they all share and the reason none belongs near an emergency fund.
| Plan | Term | Currency | Payout shape | Min single premium | Live rate |
|---|---|---|---|---|---|
| GE GREAT SP (SGD) | 24 months | SGD | Survival benefits at month 12 and 24, capital at maturity | S$10,000 | 0.70% p.a. (as of Dec 2025) |
| GE GREAT SP USD | 36 months | USD | Survival benefits at months 12, 24, 36, capital at maturity | US$30,000 | 3.38% p.a. (as of Sep 2025) |
| Etiqa Tiq 3-Year | 3 years | SGD | Guaranteed yield, capital at maturity | Varies by tranche | See review for current tranche |
| NTUC Income Gro Capital Ease | 3 years | SGD | Guaranteed yield, capital at maturity | Varies by tranche | See review for current tranche |
GREAT SP is marketed as capital guaranteed, but the guarantee is only as strong as Great Eastern itself, backed by a regulatory safety net. The plan is not covered by SDIC deposit insurance - that scheme is for bank deposits, T-bills and fixed deposits, not insurance policies.
Instead, GREAT SP falls under the Policy Owners' Protection (PPF) Scheme, administered by SDIC. For a non-participating policy like this, the guaranteed benefits are protected up to S$500,000 for the guaranteed sum assured and S$100,000 for the guaranteed surrender value, per life assured per insurer. For a S$10,000 or even S$100,000 placement that is comfortable headroom, so the PPF cap is unlikely to bite for most people.
The wording 'capital guaranteed at maturity' carries one condition worth repeating: it applies if you hold the policy to the end of the 24 months with no claims or alterations. Surrender early and the guarantee does not apply - you get the surrender value, which can be less than what you paid in. There is a 14-day free-look period at the start during which you can cancel and get your premium back, less any minor adjustments.
The biggest mismatch with GREAT SP is liquidity. The capital guarantee is a maturity guarantee, not an anytime guarantee. If you need the money in month 10 and surrender the policy, the surrender value can be below your premium - you can lose part of your capital purely for cashing out early.
This makes GREAT SP a poor home for your emergency fund or for any cash you might realistically need within two years. An emergency fund needs to be reachable without a penalty, which is exactly what GREAT SP cannot promise mid-term.
Compare that to a Singapore Savings Bond, where you can redeem in any month and get your principal plus accrued interest back with no penalty, or a T-bill, which you can sell on the secondary market (at the prevailing price) if you must. The endowment's lock-in is the price you pay for a rate that, right now, is lower than both anyway.
Great Eastern also sells GREAT SP USD, a 36-month plan paying 3.38% per annum (correct as of 11 September 2025), with survival benefits at months 12, 24 and 36 and capital returned at maturity. The minimum is US$30,000 and maximum entry age is 75 (age next birthday). On paper that 3.38% looks far better than the SGD tranche's 0.70%.
Great Eastern's own worked example shows how it pays. Put in US$100,000 and you receive 3.38% - that is US$3,380 - at each of months 12, 24 and 36, then your US$100,000 capital back at maturity, for US$110,140 in total before any currency conversion. Clean enough on USD terms. The problem only appears when you turn it back into Singapore dollars.
The gap exists because USD interest rates are higher than SGD rates - but you take on currency risk to get it. You buy in US dollars and you are repaid in US dollars. If the Singapore dollar strengthens against the US dollar over the three years, the foreign-exchange loss when you convert back can wipe out the extra yield and then some. The SGD has historically tended to appreciate against the USD over long periods, which is the main reason this plan is not the free lunch the headline rate suggests.
It can make sense if you already hold or plan to spend US dollars - say you have USD income, USD expenses, or want USD exposure deliberately. As a way for an SGD-based saver to chase yield, it converts a simple parking decision into a currency bet.
There is a narrow case where GREAT SP is reasonable even at 0.70%. If you want a fixed, hands-off place to put a lump sum for exactly 24 months, you value the single-application simplicity over squeezing out the last basis point, and you are certain you will not touch the money, it does the job. Some people also use it to deploy idle SRS funds that would otherwise sit earning the SRS account's tiny default rate, since SRS can pay the premium.
For most young working adults, though, the same goals are met better elsewhere. Cash you might need stays in a high-yield savings account or an SSB you can redeem anytime. Cash you can lock for a fixed window goes into a T-bill or a fixed deposit paying more than 0.70%. Money you want to grow over years belongs in a diversified portfolio, not a capital-guaranteed endowment.
If you are weighing a longer multi-year endowment for a savings goal rather than this short-term parking play, the endowment plan basics guide covers how the longer participating plans work and where they fit. And before locking any sum, run the numbers against what the same money could do compounding elsewhere using a cash-versus-investing calculator.
The SGD tranche current as of 1 December 2025 guarantees 0.70% per annum on maturity over 24 months. Great Eastern resets this in tranches, so check the live illustration before you commit - older reviews quoting 3% or more are from earlier, higher-rate tranches.
Yes, but only if you hold the policy to the end of the 24-month term with no claims or alterations. The guarantee is a maturity guarantee, not an anytime one. Surrender early and you receive the surrender value, which can be less than the premium you paid.
Not by SDIC deposit insurance, which is for bank deposits. As an insurance policy it falls under the Policy Owners' Protection (PPF) Scheme, which protects a non-par policy's guaranteed benefits up to S$500,000 sum assured and S$100,000 surrender value, per life assured per insurer.
At the current 0.70% tranche, usually no. A 6-month T-bill cut off at 1.47% in the 18 June 2026 auction and the June 2026 Singapore Savings Bond opened at 1.46%, both higher and both backed by the Singapore government. SSBs also let you redeem any month with no penalty, unlike GREAT SP's surrender risk.
Yes. You can pay the single premium with cash, SRS funds, or maturity rollover proceeds from another Great Eastern policy. Using SRS can make sense for idle SRS cash, since the SRS account's default interest is very low.
S$10,000 for ages 65 and below (cash or SRS). For ages 66 to 75 the minimum is S$20,000 in cash or S$15,000 via SRS. Maximum entry age is 80 (age next birthday).
You receive the surrender value, which can be lower than your premium, so you can lose part of your capital. There is a 14-day free-look period at the start during which you can cancel for a near-full refund. After that, early exit carries a penalty, which is why GREAT SP is a poor fit for an emergency fund.
GREAT SP USD pays 3.38% per annum over 36 months (as of 11 September 2025), but you buy and are repaid in US dollars. If the Singapore dollar strengthens over the term, the currency loss on conversion can erase the extra yield. It suits people who want USD exposure, not SGD savers chasing yield.
Not as one lump sum. The 0.70% is paid as a guaranteed survival benefit at the 12-month mark and again at the 24-month mark, with your full capital returned as the maturity benefit at the end. At policy issue you choose whether to take each survival benefit as cash or leave it to accumulate.
Yes. You can have each survival benefit paid out to you, or accumulate it with Great Eastern to earn interest until the policy ends. The accumulation interest is non-guaranteed and the rate can change without notice, so only the 0.70% itself and your capital are firm promises.
If you pay by cash or SRS, you have 7 calendar days from submitting your application to fund the policy in full. If you fund it with maturity rollover proceeds from another Great Eastern policy, that settles in the 14 to 30 days before the source policy matures.
It depends on the live tranche rates, which all move. Structurally, GREAT SP's 24-month SGD term is shorter than the three-year plans from Etiqa Tiq and NTUC Income Gro Capital Ease, so it frees your capital sooner, while the longer plans should pay a clear premium to justify the extra year. Compare each plan's current illustration before choosing.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.