facebookMay I know if anyone managed to withdraw the interest from Singlife yet? I’m new to Singlife and they wrote $0.35 earned this month, however, the $0.35 is not updated in my new available balance. Any advice? - Seedly
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Jo

Asked on 20 Jun 2020

May I know if anyone managed to withdraw the interest from Singlife yet? I’m new to Singlife and they wrote $0.35 earned this month, however, the $0.35 is not updated in my new available balance. Any advice?

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3 answers

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Answers (3)

Gabriel

Gabriel

Level 8. Wizard

Answered on 20 Jun 2020

Hey Jo, yes - been using since January.

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.

0

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

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Yang Teng

Yang Teng

Level 9. God of Wisdom

Answered on 20 Jun 2020

Singlife account calculates interest earned daily. However, interest is credited monthly based on your policy start date.

2

Jo

20 Jun 2020

Ohh so does that mean only after 30 days then the total interest ( in that 30 days ) will appear in the total balance and am able to withdraw then? Thank u @Yang Teng!

Yang Teng

Yang Teng

20 Jun 2020

That is correct.

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

Post

CH

CH

Level 8. Wizard

Answered on 20 Jun 2020

Managed to withdraw. almost immediate credited to bank account.

yes, i also noticed there is differ...

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