How is Singlife doing at the moment? What's the interest rate at the moment?

With effect from 1 November 2020, Singlife will be adjusting the crediting rate for the Singlife Account from 2.5% p.a. to 2% p.a. for the first S$10,000.

The crediting rate for the next S$90,000 will remain at 1.0% p.a. With no lock-in period and withdrawal fees, it is a competitive product in the market.

However, if you are looking for alternatives, there are many similar insurance saving products or cash management platforms. They generally come with attractive returns, ranging from 1.4% - 2.0% p.a.. Some of them include Dash Easy Earn (1.8% p.a. returns) and Stashaway Simple (1.4% p.a. returns). You can also consider GIGANTIQ - an 2.0% p.a. returns insurance savings plan with flexible withdrawal.

Do check out this article for more information.

Crediting rates on the first S$10,000 will be revised from 2.5%p.a. to 2.0% p.a. from 1 Nov 2020. There will be no change in the crediting rate of 1% p.a. for the next S$90,000. However, there is still a way to keep earning 2.5% p.a. returns under the Save, Spend, Earn Campaign.