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Singlife Card

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Singlife phone number changed suddenly and without permission?
Recently their customer service is horrendous, I also suddenly cannot login cause didn't receive any OTP. They took more than 5 days to reply my whatsapp message, no reply on email. For your case, let them know that u cannot log in and ask them to update your mobile number. Maybe can provide your telco bill as proof. If they don't help, make police report

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When I sign up for a SingLife account, am I automatically signed up for their insurance policies as well?
Liv Helena Yeo

Liv Helena Yeo

Level 4. Prodigy

Updated on 09 Oct 2020

! OP, refer to the screenshot for the two types of coverage that you will have AUTOMATICALLY upon signing up. Since you already have a Singlife account, you can and should refer to the pdf files in your account for more details. Navigate as below: 1) ACCOUNT - DOCUMENTS - PRODUCT SUMMARY.PDF 2) ACCOUNT - DOCUMENTS - TERMS AND CONDITIONS.PDF Hope it helps.
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Is the singlife account interest guaranteed after the next 90k for 1%?
Hello, returns are not guaranteed. The 1% interest rate for the next 90k is also calculated daily and credited monthly just like the 2.5%. That being said, the interest rate has been quite consistent for myself and has been quite close to what they stated, so I would say it is still one of the best account/savings plan out there with flexibility of withdrawing anytime. Hope this helps!

3

How easy is it to withdraw money out of Singlife account? Will there be any charges if I withdraw money from ATM using their Debit card? How about online transfer out?
Hi Katrina, You'll first need to add your bank account in the SingLife app. You can only add bank accounts that are under your name. After that, you can choose to withdraw any amount from SingLife. The good thing is that there is no minimum amount that you have to withdraw, compared to Elastiq or Dash EasyEarn. A minimum of $100 is required to be in the account to continue earning the 2.5% interest. Also, the online transfer may take a while longer compared to a FAST transfer that is instant, so that's something to take note of if you need to money immediately.

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How is Singlife sustainable?
Yang Teng

Yang Teng

Level 9. God of Wisdom

Answered on 20 Apr 2020

As you have mentioned, the 2.50% rate in non-guaranteed and the subsequent rate is rather low at 1.0%. With a deposit of $30,000, effective interest rate will drop to ~1.50%. The Singlife Account was launched Sep 2019 in conjunction with a rebranding exercise from Singapore Life to Singlife and unveiling a new strategy called 'Manage, Grow & Protect’. The savings insurance account could be a marketing strategy to rope in new and young customers with its digital platform and high interest. In addition, when the account was launched, the market was in its longest bull run in history. It is possible to achieve returns more than 2.5% had the markets not crash due to the pandemic.

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