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Promotion deadline is being brought forward
A few days ago, Endowus launched a sign-up offer that was too good to be true (see our previous article) – essentially giving new users a 1% rebate on their initial Endowus investment (up to $50k of initial investments).
The promotion was meant to run till 31 July 2021 but the take-up rate has been so strong that the deadline has being brought forward.
We were just informed that TODAY will be the last day that new account sign-ups would still be eligible for this promotion.
Note that this sign-up promo is stackable with existing referral promo codes. You can use ours to save an extra $20 on your Endowus management fees! This post is NOT SPONSORED by the way, though we do earn affiliate fees from the sign up links on this page.
Updated terms of the promo
This promotion is only valid for New Clients. “New Clients” are defined as participants who:
- Create an Endowus account by 11 June 2021 (Fri) – this is the main change as the original terms indicated 31 July 2021 as the latest possible date.
- Make a first investment with Endowus from 7 June 2021 to 31 July 2021.
What’s the Reward?
- Reward amount: $100 of rewards on the first $10,000 invested, and an additional $50 of rewards for every additional $5,000 invested (up to a total of $500 worth of rewards for the first $50,000 invested).
- Reward item: Units of the LionGlobal All Seasons Fund (Growth).
- Reward receipt date: By 31 August 2021
How to Get It
- This promotion is only valid for New Clients. “New Clients” are defined as participants who have opened an Endowus account by 11 June 2021, and have made a first investment with Endowus from 7 June 2021 to 31 July 2021.
- Eligible investments: Only investments made in either Endowus General Investing (Core, not ESG) or Cash Smart (Core, Enhanced, or Ultra) will be eligible for the promotion.
- Eligible funding sources: Only investments made with Cash or SRS will be eligible for the promotion. CPF investments will not be considered as qualifying investments.
Note: If you have an existing Endowus account but have not made your first investment, you are still eligible for this promotion. Existing clients who have already invested with Endowus will not be eligible.
The promotion’s terms and conditions may be accessed here.
Our thoughts: It’s effectively a 1% rebate
That’s a lot by the way.
WE LOVE IT. It’s effectively a 1% rebate on invested capital. This is a big deal. To put it into context, most cash management accounts (e.g. fixed deposits, Singtel Dash Pet) are only offering returns of about 1% p.a. This 1% Endowus is offering is ON TOP of whatever return you’d be getting from your invested capital with them.
For example, if you invested into Endowus Cash Smart Ultra, your expected returns would be 1.8% to 2% p.a. On top of this, you’d get an extra 1% rebate in the form of LionGlobal All Seasons Fund (Growth)!
Importantly, the eligibility criteria is easy-to-meet. Honestly, it’s tough for us to find an angle where this wouldn’t make sense for a new user. (We’ve already invested so can’t enjoy the promo ourselves…. low-key wishing we had signed up later!!)
Who does it make sense for?
- If you are already thinking of setting up an Endowus account (or have set up an account but have yet to invest), this promo would be the cherry on the cake.
- For those who are more risk averse and have no immediate plans to invest, I see this promo as an incentive to try out Endowus’ Cash Management accounts to earn 1% upfront (from the reward), and another 0.8%-2.0% p.a. projected net yields from the cash management accounts.
Endowus has 3 Cash Management accounts with varying levels of risk, and are called Cash Smart Core / Enhanced / Ultra. Details of these accounts may be found in this link.
In any case, there’s nothing to lose.
At worst, if the platform isn’t to your liking, you are free to redeem your portfolio (and the LionGlobal All Seasons Fund (Growth) after its 90-day minimum holding period), and transfer out the cash proceeds.
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