Anonymous

18 Nov 2020

∙

I started on my first job and managed to save up to 10k. I researched that Singlife has the highest interest account. Would it be wise to deposit all 10k into Singlife?

I’m aware that Singlife is not a bank account but insurance savings account but it does not have protection like banks. So my concerns would be would the company just collapse and lose my money? And what’s the chances of the company collapsing?

Singlife Account

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Jiayee

18 Nov 2020

Salaryman at some company

It's safe.

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Kok Hong

18 Nov 2020

It's insured under sdic so don't worry, you can put 10k there as u can withdraw anytime

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Wrong Sean

17 Nov 2020

Although it is not a bank account, it is considered as an insurance policy. Thus covered under the P...

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Would you suggest someone who is self-employed to put their savings with Singlife Account, since they provide the interest of 2.5% p.a. for the first 10k and 1% p.a. for the next 90k?

I’ve recently started using the Singlife account. Is it safe for me to deposit $10k into my account to enjoy the high interest or should I deposit <$10k?

If I deposit $10K to Singlife and not top up ever, would it still be 2.5% for the first $10K or will the payout make it more than $10K and the 2.5% will be no more?

What would be awesome for savings with higher interest, DBS Mulitplier of eMySavings Account or SAYE? Am also thinking to start DBS Vickers Passive Funds Investment. What would be your advice?

Do I have to pay anything for the Singlife savings plan and how does the 1% interest rate on the $90k works? Does the 1% interest rate combine with the 2% on the first $10k?

Related Products

Singlife Account

4.4

196 Reviews

S$100

MIN. ACC BALANCE

Up to 2% p.a. base return + up to 3.5% p.a. effective returns

RATE OF RETURN

2% p.a. for first S$10K

INTEREST CAP

S$100

MIN. INITIAL PREMIUM

Related Posts

Would you suggest someone who is self-employed to put their savings with Singlife Account, since they provide the interest of 2.5% p.a. for the first 10k and 1% p.a. for the next 90k?

I’ve recently started using the Singlife account. Is it safe for me to deposit $10k into my account to enjoy the high interest or should I deposit <$10k?

If I deposit $10K to Singlife and not top up ever, would it still be 2.5% for the first $10K or will the payout make it more than $10K and the 2.5% will be no more?

What would be awesome for savings with higher interest, DBS Mulitplier of eMySavings Account or SAYE? Am also thinking to start DBS Vickers Passive Funds Investment. What would be your advice?

Do I have to pay anything for the Singlife savings plan and how does the 1% interest rate on the $90k works? Does the 1% interest rate combine with the 2% on the first $10k?