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Anonymous

28 Jan 2021

∙

Is putting all my $5k savings in Singlife a good idea?

Is putting all my savings (~5k) in Singlife a good idea?
Currently have around 1k in StashAway, but looking for other ways to gain more while reading up on other forms of investments

StashAway Singlife Account

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Nicholas Beh

28 Jan 2021

Student Ambassador 2020/21 at Seedly

If you mean by emptying your bank accounts entirely, then no. The Singlife account is not a replacement for a bank account, and does not have the same transactional capabilities as a traditional bank account.

It would be best for you to keep some money (that you think you may need on short notice) in a bank account, and the remaining amount can be put into Singlife.

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Andy Chan

28 Jan 2021

Yes at least your capital is guaranteed. Interest is not too bad although it has dropped to 1.5%.

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Poly student with 5k savings. Currently all placed in singlife. Should i put half of it in Stashaway instead?

Can anyone recommend me where to put down a $20k sum, not looking to invest it, just want to save. Looking for a FD or a high saving account. I already used up the Singlife 2.5%. Any other place?

Singlife insurance savings plan states it's an insurance savings plan that credits interest, offers flexibility to make top-ups and withdrawals with no lock-in and charges. Sounds too good to be true?

Should a student with $15k savings invest in stocks or robo-advisors or put it in a high interest rate savings account like Singlife?

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