Anonymous

17 Jul 2020

∙

Is the 2.5% p.a. guaranteed for Singlife?

So the website wrote "Note that all returns are not guaranteed" what does that mean?

Singlife Account

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Mon Lee

17 Jul 2020

It's non guaranteed, but it nearly beats its promised rate.

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Elijah Lee

15 Jul 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

No, it's not guaranteed. But the statement applies to the entire account balance. They will strive to uphold the advertised 2.5% returns on the first $10K, but beyond that balance, they have the rights to decide how much to give. And they also have the rights to cut the 2.5% p.a., but will probably do so only as a last resort.

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Tan Wei Ming

15 Jul 2020

Founder and Writer at Frugal Youth Invests

There are two perspectives of this

Singlife might not be able to fulfil 2.5% pa as advertised. ...

Write your thoughts

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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

Singlife's ADV => Earning 2.5% p.a. returns per annum. Returns are not guaranteed. How should I interpret "Returns are not guaranteed"?

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?

10k in Elastiq or Singlife? I understand interest rates are dropping, so is 1.8% pa guaranteed (2.03% pa for 3 years taking into account rebates from promotion) better than 2.5% non-guaranteed pa?

Anyone heard of Singlife manage account with 2.5% p.a with no lock in period.?

What are your thoughts on Singlife 2.5% yield interest in the first $10k? Why it is not guaranteed?