facebookNow that jumpstart interest have been reduced to 1%, should i move my savings to Singlife instead? - Seedly

Anonymous

11 Aug 2020

Saving Hacks

Now that jumpstart interest have been reduced to 1%, should i move my savings to Singlife instead?

Discussion (8)

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Tan Yu Ji

11 Aug 2020

Economics at Nanyang Technological University

Yes, if you have 10k or lesser, I would recommend you to shift it over to Singlife. Remember, only keep 10k in your Singlife account as the interest rates are not worth it after 10k. With your remaining amount, you might want to start learning how to invest to put that money to good use!

Jie Sheng

10 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Yes you should move to Singlife, it gives a non-guaranteed 2.5%pa interest rate on your first 10k. Otherwise, you can also look into ELASTIQ by Etiqa, theirs is guaranteed 1.8%pa interest rate. Hope this helps :)

Hello,

You can consider keeping the standard chartered account as a backup and have the singlife account to grow your fund. Since singlife's interest rate is not guranteed, you can always go back to SC.

Shania Loh

10 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Hi! You may consider keeping your JumpStart account whilst opening a Singlife account. Even though t...

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