Anonymous

20 Jun 2020

∙

Opinions on Singlife? Is it recommended to park 10k to benefit from the 2.5% per annum and is it trustworthy?

Is it worth investing in?

Singlife Account

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Discussion (16)

Gabriel

26 Mar 2020

Undergraduate at National University of Singapore

Hey Anon, I've been using the Singlife Account since January and in my opinion, it's really attractive as it functions like a bank account and the interest of 2.5% p.a it offers is super competitive and the highest in the market at the moment, with no other terms and conditions, penalties or whatsoever, such as minimum spending, salary credit etc. It is safe as your deposits/capital is guaranteed and insured under the SDIC so rest assured.

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Kenneth Lou

24 Mar 2020

Co-founder at Seedly

I actually just got my card last week, looks sleek!

Havent tried it out entirely yet but what I know it acts like a higher yielding savings account at least for the promotional rate, it looks pretty decent, with a 2.5% p.a

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Clement

24 Mar 2020

Oh,so you plan to spend all the 10k inside?Cause I know they can't writhdraw money from ATM....

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Hi! I am 23 y/o with $20k to spare. Would you recommend to put $10k in Singlife (2.5% pa) and another $10k in Great Eastern Great SP (2 years tenure, 1.8% returns pa)?

Is SingLife 2.5% per annum interest calculated on a daily basis or the funds must be in the account for a year to be counted? What’s the insurance coverage that they are referring to?

Singlife's ADV => Earning 2.5% p.a. returns per annum. Returns are not guaranteed. How should I interpret "Returns are not guaranteed"?

If I deposit $10K to Singlife and not top up ever, would it still be 2.5% for the first $10K or will the payout make it more than $10K and the 2.5% will be no more?

If one owns both OCBC 360 & SingLife accounts. Whereby he has maxed the $10k in SingLife to receive 2.0%pa. Do you recommend him to still put an amount into SingLife account to get the 1.0%pa?

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Related Posts

Hi! I am 23 y/o with $20k to spare. Would you recommend to put $10k in Singlife (2.5% pa) and another $10k in Great Eastern Great SP (2 years tenure, 1.8% returns pa)?

Is SingLife 2.5% per annum interest calculated on a daily basis or the funds must be in the account for a year to be counted? What’s the insurance coverage that they are referring to?

Singlife's ADV => Earning 2.5% p.a. returns per annum. Returns are not guaranteed. How should I interpret "Returns are not guaranteed"?

If I deposit $10K to Singlife and not top up ever, would it still be 2.5% for the first $10K or will the payout make it more than $10K and the 2.5% will be no more?

If one owns both OCBC 360 & SingLife accounts. Whereby he has maxed the $10k in SingLife to receive 2.0%pa. Do you recommend him to still put an amount into SingLife account to get the 1.0%pa?