Singlife Account Reviews and Comparison - Seedly
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Singlife Account

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Insurance Savings Plans/Singlife Account
Insurance Savings Plans/Singlife Account
4.5
129 reviews
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Singlife Account

$100

MIN. ACC BALANCE

2.5% bonus

RATE OF RETURN

2% for first $10k

INTEREST CAP

Singlife Account

$100

MIN. ACC BALANCE

2.5% bonus

RATE OF RETURN

2% for first $10k

INTEREST CAP

Details

Singlife Account Review 2020: Is Singlife Account Worth it ?

Singlife Account is an insurance savings plan that gives you access to your savings via the Singlife App and Singlife Visa Debit Card. As an insurance savings plan that earns 2.0% p.a., the Singlife account also behaves like a Savings account where you can earn interest and spend with no lock-in period. It offers one of the highest interest rates for savings accounts in Singapore at 2.0% p.a. (2.5% before 1 November) with no need for extra expenditure.

Read More about Singlife Account
Reviews (129)

4.5

129 Reviews

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    85
  • 4
    33
  • 3
    7
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  • Updated 4d ago

    Purchased

    Singlife Account

    [Application Process] Insurance I used 'my Info' via Singpass to purchase a term plan with critical illness - Took them longer than 3 weeks just to approve my application! One of the LONGEST approval time for an insurer to consider my application especially I do not have any major underlying issue Singlife Acct Next, tried to open an account to deposit my money; i encourted lots of difficulties as one of my particulars is wrong. has to ting tong many times with customer service to correct my detail. Again, with the information corrected-> took 5 work days to approve my account [which it was quite long; compare to some others' account were approved within a day or two!) [Customer Support ] 1. Promised to get back to me on the correction of my application for both insurance and singlife acct -> Failed to do so. 2. Provided me with an inaccurate information that i can use deposit $ using SRS account [User Experience] Got bugs; especially when i tried to open my account; keep giving me error message that i keyed in incorrect OTP. end up discovering is my personal particulars were not correct. -> it is so frustrating trying to work out what is wrong and your customer service wasnt very helpful Honestly, if it is not the low term premium rates for term insurance coverage & the 2-2.5% interest rate for singlife acct, i will have given up and take my $ to other banks or providers whereby i can have shorter waiting time and less frustrating in opening an account.
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  • Updated 5d ago

    Purchased

    Singlife Account

    [Interest Rate] Acceptable interest rates thus far no complaints on that part (first $10k @ 2% is still decent). I have never used the card since 0.5% p.a. isn't really worth it imo. [Others] I wish they would have a dedicated web interface for this, it is really annoying to only be able to do financial-related things like withdrawal only via the phone.
    0 comments
    0
    Post
  • Updated 3w ago

    Purchased

    Singlife Account

    This is an insurance saving plan which earns you up to 2% p.a. for your first $10,000. So far they have consistently credited the promised amount since I opened my account in June 2020, other customers have verified this as well. I have successfully FAST transferred out the earned interest to my bank account multiple times. I was lucky as I joined early when it was 2.5% p.a. Nonetheless, 2% p.a. is still a really attractive offer given that most banks have decreased their interest rates.
    0 comments
    0
    Post
  • Updated 3w ago

    Purchased

    Singlife Account

    Onboarding was smooth. Deposits and withdrawals are fast (within x minutes). There aren't any transaction fees (yet?). Interest rates are as promised i.e. up to y%.
    0 comments
    0
    Post
  • Updated 3w ago

    Purchased

    Singlife Account

    Opening an account is quite straight forward, but can anyone advise me after i had created a Singlife account, is it a must to take up their plan, i.e.cancer plan, critical illness or Term life. Cus my intension is to put 10K there to earn the 2% interest. Thank
    1 comment
    0
    Jiayee
    Jiayee

    3w ago

    It's not a must. You can leave your money there.
    Post
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Singlife account interest rate changes 2020

Highest Interest Rates for Singlife Account

How do you maximise the returns for Singlife Account?

Singlife's interest rates are straight-forward. The returns per annum for Singlife Account is 2.50% p.a. (2.0% after 1 Nov 2020) for account balances of up to S$10,000. Returns are not guaranteed.

  • 2.50% p.a. on the first S$10,000
  • 1.0% p.a. on the next S$90,000
  • 0% p.a. on amounts above S$100,000

However, as of November 1, Singlife will be adjusting their interest rates

  • 2.0% p.a. on the first S$10,000 from 2.5%
  • no change for the 1.0% p.a. for the next S$90,000
  • New addition of bonus interest rates of 0.5% p.a. if you spend at least S$500 on your Singlife Card per policy month - this is a limited time offer from 1 November 2020 to 28 February 2021.

Benefits of Singlife

  • Probably the highest interest rates offered by Savings accounts that do not require additional expenditure or investments.
  • Singlife Account is an insurance savings plan that gives you access to your savings via the Singlife App and Singlife Visa Debit Card
  • There is flexibility in accessing funds anytime and earn competitive interest rates.
  • It also comes with a Visa debit card with no monthly or annual fees.

Singlife vs GIGANTIQ vs EasyEarn, what are the differences and which is the best for you? Check out our Insurance Savings Plan Guide here

Eligibility: who can apply for Singlife Account

  • Singapore resident with valid NRIC or Fin
  • Aged between 18 and 65
  • Valid Singapore number and Singapore residential address

How to apply for Singlife?

Download the Singlife App on your mobile phone.

Set-up a Singlife ID & apply for your Singlife Account

Start with just $500 (transfer via FAST, from your OWN bank account)

Only one Singlife Account per person

About Singlife

Singlife is a homegrown wealth technology company in Singapore, the first since 1970 to be licensed as a life insurance company by the Monetary Authority of Singapore. The company offers digitally-enabled financial services that create a connected consumer financial journey and interface to manage, grow, and protect the wealth and financial well-being of its customers. Singlife is backed by leading insurance, wealth management, and financial services companies including Sumitomo Life, Aflac Incorporated, Aberdeen Standard Investments, and IPGL (Holdings) Limited, standing as one of the top-funded homegrown fintech companies in Singapore. It was most recently listed as one of “The World’s 100 Leading Fintech Innovators in 2018” by KPMG.