Anonymous

15 Aug 2020

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Is the singlife account interest guaranteed after the next 90k for 1%?

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Jie Sheng

07 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Hello, returns are not guaranteed. The 1% interest rate for the next 90k is also calculated daily and credited monthly just like the 2.5%.

That being said, the interest rate has been quite consistent for myself and has been quite close to what they stated, so I would say it is still one of the best account/savings plan out there with flexibility of withdrawing anytime. Hope this helps!

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Samantha Ong

07 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Yep, agree that it is not guarenteed. Even the 2.5% on the first 10k is not guaranteed. There might be a slight discrepancy at times.

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Nicholas Beh

07 Aug 2020

Student Ambassador 2020/21 at Seedly

No. The interest rates that they claim are non-guaranteed across the board and may be changed at any...

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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?

Am considering between the CIMB fast saver and singlife account. CIMB gives 1% interest up to 50,000 balance, but Singlife gives 2.5% for first 25k and 1% up to 100k. Which one is better?

Do I have to pay anything for the Singlife savings plan and how does the 1% interest rate on the $90k works? Does the 1% interest rate combine with the 2% on the first $10k?

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?

With Singlife slashing interest next month, and dasy easyearn rates dropping too after the 1 year mark soon, where else is best to hold buffer cash?