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Best Short-Term Savings Plans in Singapore: China Taiping i-Saver8 VS NTUC Income Gro Power Saver (Updated 2024)

Best Short-Term Savings Plans in Singapore, China Taiping i-Wealth Builder, NTUC Income Gro Goal Saver

Last Updated on by Tree of Wealth

Best Short-Term Savings Plans in Singapore

For those who want to enjoy some of the benefits of an insurance plan but don’t want to be stuck paying premium for a long time, short-term savings plan might be the ideal option. In this article, we’ll be exploring two such savings plan: China Taiping i-Saver8 and NTUC Income Gro Power Saver to help you understand the trade-offs for each.

By short term, China Taiping’s i-Saver8 is a 2 years premium term with a total of 8 years to maturity, with no cash benefits on the 3rd year onwards. NTUC Income’s Gro Power Saver however, is a 3 year premium term and a total of 10 years to maturity. There is no cash benefit for this.

Read more on our review on China Taiping i-Saver8 – Best Short Term Endowment Savings Plan and NTUC Income Gro Power Saver

Product Information

China Taiping i-Saver 8 is one of the shortest savings plans in Singapore, with a premium term of just two years. Its shorter premium term along with its comparatively high reinvestment rate and yearly cashback option makes it an attractive option. On the other hand, while NTUC Income’s Gro Power Saver has a slightly higher premium term of 3 years. It has a longer policy term but a lower maturity amount overall and a much lower rate of returns at 3% range (Shown in the table below).

Both plans offer comparable death benefits. Choosing the right plan depends on your objectives and needs, China Taiping’s i-Saver8 is the apparent better plan here in terms of overall premium & policy term, returns are much better as well as capital break-even at maturity. NTUC Income’s Gro Power Saver is lesser upon Maturity.

If you don’t want to spend a lot on premiums and would like some flexibility for your cash, then China-Taiping’s i-Saver8 might be right for you. On the other hand, if you don’t mind spending a bit more on premiums in exchange for higher benefits in the form of cancer waiver, then NTUC Income could be ideal.

Comparison Table

To better illustrate the tradeoffs of each option, we have made the following table for you to compare returns:

China-Taiping i-Saver 8 NTUC Income Gro Power Saver

Premium term

2 3
Policy term 8


Premium amount (annually)

$18,000 $12,000
 Death Benefit 105% of net premium

105% of net premium

Riders Available


Cancer Premium Waiver

Total premium paid



Total Amount Upon Maturity – Guaranteed $36,000.00


Total Amount Upon Maturity – Non-Guaranteed (at 4.25%)

$45,360.00 $46,815

Cash Back Benefit



Illustrated Yield at Non-Guaranteed 3%

2.10% 0.35%
Illustrated Yield at Non-Guaranteed 4.25% 3.13%


Capital Break-even at Maturity Yes


Pros & Cons

China Taiping i-Saver8


  1. Shorter premium term makes this plan cheaper overall
  2. Higher Guaranteed Amount at Maturity
  3. Shorter policy term
  4. Comparatively higher investment yield returns at both 3% and 4.25%


  1. Smaller maturity amount guaranteed and non-guaranteed
  2. Doesn’t offer any riders or special features
  3. No Cash back option

NTUC Income Gro Power Saver


  1. Gives the additional rider of cancer premium waiver


  1. No cash back option
  2. Longer premium term makes it more expensive overall
  3. Longer policy term
  4. No Cash back option
  5. Not Capital Guaranteed upon Maturity

Conclusion For China Taiping i-Saver8 VS NTUC Income Gro Power Saver

We hope the analysis helps you in understanding the pros and cons of these 2 of the shortest savings plans in the market so that you can decide if any of these options meet your savings objectives. All savings plans have their own advantages and disadvantages. We recommend that all individuals choose their savings plans keeping in mind their objectives and liquidity needs to ensure they get the best possible value.

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