What does it means when the Singlife Apps show [YOU HAVE: $2000] and [$0.96 earned this month]. So in my account do i have $2K or $2000.96 to withdraw?

Dear Anon, in summary, you have $2,000 to withdraw. Now to answer your question:

1) YOU HAVE: $2000 - This is the total amount of deposits that you have in the account which can be withdrawn.

2) $0.96 earned this month - This shows the amount of interest you have earned as of that day, based on the $2000 deposit that you have. Based on my calculation, that's 7 days worth of interest.

($2,000 * 2.5%) / 365 = ~$0.1370 per day

$0.96 / $0.1370 = 7 days

Basically, 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.

Hope this helps!

2k. The money will credit at end of each policy month. So say you open acc today, $ credit on 6th of every mth if i not wrong.