Advertisement

Anonymous

07 Aug 2020

∙

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?

When will I be able to cashout my interest? I see that it’s mentioned like “$XX interest earned this month”but it doesn’t add on to my initial deposit. Am I able to cash out that interest any time?

Singlife Account

5

Discussion (5)

What are your thoughts?

Learn how to style your text

Gabriel

07 Aug 2020

Undergraduate at National University of Singapore

Hey Anon, the Singlife Account is protected by SDIC under the Policy Owners' Protection Scheme (PPF). The PPF covers the guaranteed benefit or guaranteed surrender value at point of failure and in this case, the surrender benefit is the account value which is the amount of deposit you have in the account.

Reply

Save

d c

05 Jul 2020

Yes, the 2.5% applies for the first $10k. Any amount above $10k will only earn an interest of 1%.

The interest will only be credited a month after you first deposited your funds into your account.

Hope this answer is helpful!

Reply

Save

Billy

05 Jul 2020

Development & Acquisitions Manager at Real Estate Private Equity

**Does the ~2.5% interest applies on the first $10k deposited meaning is it safe for me to deposit $...

Write your thoughts

Related Posts

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?

Hello! May I know if anyone try to try a partial withdraw on Singlife? In addition, if my account hits $10k, do I still get to enjoy the 2.5% interest rate?

What are your thoughts on credit card standard chartered smart? And with 3k savings is it achievable to meet 10k with just normal savings account in Singlife? & salary of 2.8k to use a cc is it safe?

I have 10k in my singlife account. Do I need to withdraw the interest earned after it’s credited into the account as amount above 10k will not be getting the 2.5% interest?

I have open a DBS multiplier account to enjoy the interest. Previously I was using POSB saving account with 0.05% of interest. Should I close my old account,now that I have the DBS multiplier account?

Related Products

Singlife Account

4.5

199 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

Standard Chartered JumpStart Account

4.8

782 Reviews

DBS/POSB Multiplier Account

4.4

321 Reviews

Related Posts

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?

Hello! May I know if anyone try to try a partial withdraw on Singlife? In addition, if my account hits $10k, do I still get to enjoy the 2.5% interest rate?

What are your thoughts on credit card standard chartered smart? And with 3k savings is it achievable to meet 10k with just normal savings account in Singlife? & salary of 2.8k to use a cc is it safe?

I have 10k in my singlife account. Do I need to withdraw the interest earned after it’s credited into the account as amount above 10k will not be getting the 2.5% interest?

I have open a DBS multiplier account to enjoy the interest. Previously I was using POSB saving account with 0.05% of interest. Should I close my old account,now that I have the DBS multiplier account?

Advertisement