How much is Singlife actual interest rates?

I know it is 1% p.a. returns for the first S$10,000. As this is not-guaranteed, does anyone know how much is the actual returns (for the first S$10000) based on your own experience? Is there an official link/webpage from Singlife where I can view its historical (monthly) performance? I am planning to deposit spare cash into it for short-term purposes so I am only concerned with returns for the first S$10000.

Thanks!

Singlife Insurance Singlife Account

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Loh Tat Tian

07 Sep 2021

Founder at PolicyWoke (We Buy Insurance Policies)

The interest is compounded monthly till it hits $100 for 1 year if you put in $10,000

The non-gauranteed part is, the company is able to change the interest rate after they inform you (e.g they changed the interest rate to 0.5% after 6 months, and giving you a 1 month notice and an effective date maybe 1st July 2022). This is the non-gaurantee that they are talking about.

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Elijah Lee

07 Sep 2021

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

You can always find the returns here:

https://singlife.com/manage/returns/

However, it is subject to changes by SingLife.

A better way to look at it would be to just accept whatever you get on your $10000 while you look for other vehicles for your money.

$100 on $10000 after a year (at 1%) is not life changing and neither can I say that it is significantly lesser than $150 on $10000 after a year (if the return is at 1.5%). You could probably make $50 in one day at a side job. So look at the bigger picture, but take what you can first without trying to over think the minor details in this case.

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