Gabriel - Seedly
Seedly logo
Seedly logo
 
Gabriel

Doing a 3-month internship with Aspire, a Neobank for SMEs, before pursuing a degree in Information Systems at NUS in Aug.

Gabriel

Growth @ Aspire | Neobank for SMEs at Aspire

About

Doing a 3-month internship with Aspire, a Neobank for SMEs, before pursuing a degree in Information Systems at NUS in Aug.

Credentials

Growth @ Aspire | Neobank for SMEs at Aspire

Gabriel

Growth @ Aspire | Neobank for SMEs at Aspire

  • Answers (479)
  • Questions (2)
  • Reviews (29)

UOB Krisflyer Debit Card

Debit Cards

UOB

KrisFlyer

Anything attractive about the UOB Krisflyer debit card? Is the interest rate good?
Hey Anon, I have this card too. The interest rate of the savings account (UOB KrisFlyer) is terrible, only 0.05% interest p.a. The only thing attractive about this card is if you'd like to join the miles club and rack up miles for your next overseas trip, and if you don't qualify for a credit card. You'll also get 1,000 bonus KF miles upon your first card transaction, if I recall correctly. If you fulfil the criteria above, then yes you can use it as your daily spending card. Otherwise, just stick with a cashback card. The only reason I signed up was to lock-in $5k for 6 months to get $80, one of their promotions for new customers. Will be closing the account/card this month.
👍 0

Savings Accounts

Savings

Undergraduate

I am a 21 year old with 25k savings. Where should I put them for interests?
Hey Anon, well done on your savings. I'd suggest going for both the Singlife Account (10k) at 2.5% p.a and Etiqa Elastiq (15k) at 1.8% p.a. Both of these offer a higher interest rate than SCB Jumpstart and DBS FD. In my opinion, doesn't make sense to put in a FD, you lose the flexibility and the returns are not attractive either.
👍 0

Regular Shares Savings Plans (RSS/RSP)

POSB

Investments

Savings

I’m on POSB RSP. I want to withdraw the money but continue with the savings. How do I do that? Can I withdraw part of it? Should I withdraw or leave it?
Hey Sharmila, you may refer to the link below on how to redeem/withdraw your holdings partially. In my opinion, unless you really need the money, you shouldn't withdraw it. In the first place, you shouldn't be investing money which you will need in the short run. Only withdraw if you've reached your goal and want to lock in the profits or found another better performing investment vehicle. https://www.dbs.com.sg/ibanking/help/redeem-unit-trust-or-exchange-traded-fund.html#re
👍 0

Savings Accounts

Savings

Singlife Account

Does Etiqa elastiq work like the singlife account that we can withdraw the whole amount inside after the lock-in period of 3 months?
Hey Anon, yes it works just like the Singlife Account after the initial and short lock-in of 3 months. You will then be able to make unlimited ad-hoc deposits and withdrawals anytime, 24/7. Currently, it offers 1.8% guaranteed interest p.a for the first 3 years, which is pretty decent given the current situation where most banks have reduced the interest rate on their savings accounts. Of course, max out the 10k on Singlife first before considering this. I first heard of Etiqa Elastiq back in Nov 2018 from Kenneth and was also sceptical at first. I only opened an account in Jan 2019 and have been using it since then. I've also recommended a few of my friends who signed up back then and are enjoying the 2.02% guaranteed interest p.a for the first 3 years.
👍 0

Investments

HDB BTO

Wedding

Savings

Savings Accounts

Singlife Account

Standard Chartered JumpStart Account

CIMB FastSaver Account

I am a 25yo with 70k savings. Is it feasible to transfer the remaining of my savings to Singlife ? Or are there other more attractive savings plan out there?
Hey Anon, you should consider Etiqa Elastiq which offers 1.8% guaranteed interest p.a for the first 3 years. The lock-in period is relatively short at 3 months, as compared to 3 year endowment plans. After 3 months, it works like a bank account, just like the Singlife Account where you can make withdrawals or top-up/deposit into the account, giving you that flexibility and convenience you're looking for.
👍 1

Singlife Account

Savings

Savings Accounts

Interest Rates

Insurance

How does Singlife account work since it is technically not a bank? How does it allocate you interest?
Hey Dex, the interest is credited on a monthly basis to your Singlife account, depending on when you created your account, it is not based on calendar month as per banks. For a more detailed explanation, interest is calculated on a daily basis but only will only be credited monthly. So if you opened the account on the 10th, the interest should be credited on the 10th next month too. Once it is credited, the amount of "$xx.xx earned this month" will move and add on to "you have: $XX,XXX". The amount "earned this month" will then be reset to $0 and you can proceed to withdraw the credited interest.
👍 2

Singlife Account

Savings

Savings Accounts

Is there any risk of depositing 10k into singlife for the 2.5%? If the company closes, will we lose all 10k?
Hey Sheryl, 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.
👍 0

Singlife Account

Savings Accounts

Savings

Standard Chartered JumpStart Account

Is Singlife is a secure platform to use for saving now that SC Jumpstart interest has dropped? Or are there other accounts with higher interests?
Hey Jo, 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. Alternatively, you may consider Etiqa Elastiq which is also another fuss and hassle-free account. It offers 1.8% guaranteed interest on your initial deposit for the first 3 years. After the initial lock-in of 3 months, it works like a bank account, similar to the Singlife account. I've been using it since January 2019, let me know if you have any questions.
👍 1

Savings

Savings Accounts

Singlife Account

Singapore Saving Bonds (SSB)

Standard Chartered JumpStart Account

Besides SSB/Singlife/SCB jumpstart, what are other government bonds that we can invest in to replace the high savings account?
Hey Anon, you can consider Etiqa Elastiq which offers 1.8% guaranteed interest on your initial deposit for the first 3 years. After the initial lock-in of 3 months, it works like a bank account, similar to the Singlife account. I've been using it since January 2019, let me know if you have any questions.
👍 0

Savings Accounts

CIMB FastSaver Account

StashAway

Singlife Account

Wedding

Savings

Are there any low effort savings account other than CIMB fastsaver?
Hey Anon, you can consider Etiqa Elastiq which offers 1.8% guaranteed interest on your initial deposit for the first 3 years. After the initial lock-in of 3 months, it works like a bank account, similar to the Singlife account. I've been using it since January 2019, let me know if you have any questions.
👍 0
Load more questions
Level 8. Wizard
2025PointsGoal 3000
975 POINTS TO LEVEL UP
Browse Rewards
Top Contributor
Top Contributor
SEP · OCT · NOV · DEC