Is the SingLife Account good?

SingLife has recently reduced its interest return to 2%. However, I believe it is still a good account to park up to $10,000 of your funds. Follow this link to read on my reviews on Singlife.

Starting from 1 November 2020, Singlife will be dropping their interest rates down to 2% p.a. for the first $10,000.

Its basically another avenue to earn extra interest as other bank account have capped amount (ie. DBS multipler 100k, OCBC 360 70k). Its good if you have extra cash in your bank account to earn you more interest. Basically i have ocbc 360 account and singlife (put 10k only). I will earn interest in the main account first before putting extra cash in Singlife. Cheers buddy.

If you wish to understand more about the Singlife Account, then I have explained further on how it works here: Singlife Account Singapore: Another way to grow your money

Some of its advantages include:

• No lock-in period for the deposit

• Easy access to money (both deposit and withdrawal)

• Non-guaranteed creditting rate of up to 2.5% per annum (subject to change anytime

You may read my post (Part 4) where I evaluate on whether it makes sense to open the account.

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