Renewing Fixed Deposits Every Year? NTUC Income Gro Cash Plus vs Fixed Deposit (FD) in Singapore (2026)

If you’ve been renewing fixed deposits (FDs) every year, you may be wondering whether there’s a conservative alternative that can potentially provide higher long-term returns without constantly chasing promo rates. In this guide, we compare NTUC Gro Cash Plus vs FD in Singapore (2026) so you can see how the plan works, when payouts start, and when principal becomes guaranteed.

While NTUC Income Gro Cash Plus is not a bank deposit, it is designed to provide yearly income payouts and based on the plan structure/illustration your principal is guaranteed from the end of Year 3 onwards. On top of that, it includes an insurance payout if death occurs, which is something a fixed deposit does not provide.

In this NTUC Income Gro Cash Plus comparison (2026), we compare NTUC Income Gro Cash Plus with:

• Singlife Flexi Life Income II

• FWD Life Income Plus

• Fixed Deposits (FDs)

You’ll see which plan suits you best depending on whether you want earlier payouts, higher guaranteed income, or short-term liquidity.

👉 Read full Gro NTUC Income Gro Cash Plus review

Quick Overview: What is NTUC Income Gro Cash Plus?

NTUC Income Gro Cash Plus is a whole life endowment plan that aims to provide:

• Guaranteed yearly income from a stated year onwards

• Potential non-guaranteed bonuses (these depend on participating fund performance)

• Principal guaranteed from end of Year 3 onwards (based on illustration / plan structure)

• A structured premium payment term (example below uses a 3-year premium term)

• Death benefit payout to beneficiaries if death occurs (subject to policy terms)

Many FD renewers like NTUC Income Gro Cash Plus because it feels similar to an “income deposit strategy”: you commit your funds, then receive yearly payouts but without needing to chase bank promo rates yearly.

Important: NTUC Income Gro Cash Plus is an insurance policy, not an FD. It is generally less liquid than a bank deposit, especially in the early years.

NTUC Income Gro Cash Plus vs FD: Why This Matters for People Renewing Fixed Deposits Yearly

A typical FD strategy looks like this:

1. Place money for 6–12 months

2. Receive principal + interest

3. Re-deposit again and hunt for next year’s best rate

This can work but it also creates two issues:

• Rate uncertainty: the “best rate” this year may be lower next year

• Reinvestment hassle: you need to keep rolling, comparing, and switching banks

NTUC Income Gro Cash Plus is different, but it may suit you if you want:

• A structured yearly income stream

• Less dependence on yearly promo cycles

• Principal protection after an initial period (principal guaranteed from end of Year 3 onwards)

• A built-in insurance payout if death occurs

Alternatives to NTUC Income Gro Cash Plus (2026)

1) Singlife Flexi Life Income II

Singlife Flexi Life Income II is a whole life endowment structure with yearly payouts. Like NTUC Income Gro Cash Plus, it typically includes:

• Guaranteed payout component

• Potential non-guaranteed bonuses

In our comparison table assumptions, it offers:

• 3-year premium term

• Guaranteed yearly income from end of Year 3 onwards

• Principal guaranteed from end of Year 3 onwards

Best for: FD renewers who want a similar structure but prefer higher guaranteed yearly income from Year 3. Single lump sum premiums are also avaliable.

2) FWD Life Income Plus

FWD Life Income Plus is designed for long-term yearly income payouts. In our table assumptions:

• Premium term: 3 years

• Guaranteed yearly income starts later (end of Year 5 onwards)

• Principal guaranteed from end of Year 3 onwards

Best for: FD renewers who can wait longer for payouts, but want the highest guaranteed yearly income among the income plans shown.

3) Fixed Deposits (FDs) in Singapore

Fixed deposits are bank savings products that are straightforward and familiar. However:

• FD rates change frequently (promo cycles move)

• The best rate often depends on tenure, “fresh funds”, and minimum deposit size

• You need to keep renewing and re-optimising your deposit strategy

Best for: short-term savers who want maximum liquidity and simplicity, and are okay with reinvesting yearly.

👉 Read more: How to beat the bank’s low fixed deposit rate

NTUC Income Gro Cash Plus vs FD Comparison Table (2026): Guaranteed vs Projected Income

Assumptions: The table compares an estimated $100,000 funding level. For income plans, we show:

• Guaranteed yearly income (the minimum payout you can rely on)

• Projected yearly income @ 4.25% (includes non-guaranteed bonuses; not guaranteed)

• When principal becomes guaranteed

NTUC Income Gro Cash Plus vs FD: Which Should You Choose?

Choose Singlife Flexi Life Income II if:

• You want higher guaranteed yearly income from end of Year 3 

• You want a similar premium term and principal guarantee timing

Choose FWD Life Income Plus if:

• You’re okay waiting for payouts (guaranteed income starts end of Year 5)

• You prioritise the highest guaranteed yearly income among the plans shown

Choose Fixed Deposit if:

• You want short-term liquidity

• You don’t want insurance policy lock-in

• You prefer a simple bank product even if you need to renew yearly

Conclusion: Which Plan Wins for Fixed Desposit Renewers?

If your priority is liquidity and short commitment, fixed deposits still win.

But if you’ve been renewing FD every year and want something that works similarly (structured, conservative) while aiming for higher long-term yield, NTUC Income Gro Cash Plus and similar income plans may be worth considering especially if you like:

• Yearly cash payouts

• Principal guaranteed from end of Year 3 onwards

• Insurance payout if death occurs

👉 If you’re unsure which fits your situation best, compare your needs properly: guaranteed income, payout start year, liquidity, and how long you can hold the plan.

👉 Before you decide, compare NTUC Income Gro Cash Plus with other top endowment and life income plans in Singapore 2025

Overall, NTUC Income Gro Cash Plus vs FD comes down to your priority: choose FD for short-term liquidity, and consider NTUC Income Gro Cash Plus if you want a more structured long-term income approach with principal protection after the initial years.

Frequently Asked Questions (FAQ)

1) Is NTUC Income Gro Cash Plus better than renewing fixed deposits every year?

It can be especially if you want a structured yearly income plan and you’re comfortable holding long term. FDs are more liquid, but their rates change and require ongoing renewal.

2) Is the projected income guaranteed?

No. Projected income includes non-guaranteed bonuses. Use guaranteed income as your baseline and treat projected income as upside.

3) Can Gro Cash Plus replace my retirement plan?

Usually no. It may provide yearly income, but retirement planning typically needs a broader strategy.

Still renewing fixed deposits every year because it feels safe? You might be missing alternatives designed to provide income for life with principal protection.

Confused about what you really need in your current insurance portfolio? Let us walk you through it — no cost, no pressure. Leave your contact details via the form below or Whatsapp us today!