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Singlife Account

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Insurance Savings Plans/Singlife Account
Insurance Savings Plans/Singlife Account
4.5
162 reviews
claimed

Claimed

This product is managed by Singlife.

USER RATINGS

User Experience

4.5

Customer Support

4.0

Singlife Account

$100

MIN. ACC BALANCE

1.0% non-guaranteed + 0.5% bonus

RATE OF RETURN

1.0% for first $10k

INTEREST CAP

Singlife Account

$100

MIN. ACC BALANCE

1.0% non-guaranteed + 0.5% bonus

RATE OF RETURN

1.0% for first $10k

INTEREST CAP

Details

Product Page Transparency

  • Claimed in December 2020

Singlife Account Reviews 2021: Is Singlife Account Worth it ?

As an insurance savings plan that earns up to 1.5% p.a., the Singlife Account behaves like a high-interest rate savings account with added Singlife life insurance policy coverage. It can earn you a decent rate of return with no lock-in period, all whilst providing you with some sort of protection.

It offers one of the highest rate of returns in Singapore up to 1.5% p.a. effortlessly, unlike actual high-interest savings accounts where multiple criteria have to be met. Plus you can easily access your savings via the Singlife App and Singlife Visa Debit Card.

There is a limited offer of an additional rate of return of 0.5% p.a. if you spend at least S$500 on your Singlife Card per policy month. Valid till 31 December 2021.

Read More about Singlife Account
Reviews (162)

4.5

162 Reviews

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    99
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    Most HelpfulMost RecentLow to HighHigh to Low
      Posted 1h ago

      Purchased

      Singlife Account

      Using this savings account for quite awhile, it gives more interest than other savings account! Current interest is at 1%. Take note that the interest rate fluctuates according to the economic condition though.

      0

      What are your thoughts?

      Reply

      Posted 1d ago

      Purchased

      Singlife Account

      I used Singlife back when they were offering 2.5% interest rates and still using it today, even though the rates have reduced drastically (in tandem with international interest rate cuts). Essentially, it is a good way to park spare cash as it yields more than the conventional high-interest hurdle bank accounts and keeps the cash highly liquid. Deposit is almost instant and withdrawal process is pretty fast as well. Signup process is also quick so this is my favourite compared against the other insurance savings accounts.

      0

      What are your thoughts?

      Reply

      Posted 4d ago

      Purchased

      Singlife Account

      Besides saving money in the bank, I diversify my savings into Singlife as well! Despite the many drops before from 2.5% to now 1.0%, I would still recommend Singlife to users who are looking for a place to grow their savings. It might not give a high rate but better than a bank! The application is easy and simple but would say that the transaction process is a little slow. But overall, not too bad!

      1

      Singlife

      Singlife

      4d ago

      Hi Eunice, you're spot on! At Singlife, we continue to make our customers' money work harder for them! And we are happy to know that you had a great experience with our product and highly recommend it to other users! :)

      Help us spread the word and if you’re up for it, do drop us a review on our App Store (for IOS users): https://apps.apple.com/sg/app/singlife-investin... or Google Play Store (for Android users): https://play.google.com/store/apps/details?id=c...

      Have a great week ahead! :)

      What are your thoughts?

      Reply

      Posted 16d ago

      Purchased

      Singlife Account

      Been using this as my savings account for quite awhile, it has generate relatively more interest than other savings account I’ve seen!

      1

      Singlife

      Singlife

      13d ago

      Hi Li Xuan, that's amazing! We are happy to know that you had a great experience with our app and Singlife Account. :)

      Help us spread the word and if you’re up for it, do drop us a review on our App Store (for IOS users): https://apps.apple.com/sg/app/singlife-investin... or Google Play Store (for Android users): https://play.google.com/store/apps/details?id=c...

      Have a great week ahead! :)

      What are your thoughts?

      Reply

      Posted 29 Aug 2021

      Purchased

      Singlife Account

      UI of the app is nice and interest rate is also free from any conditions and serves well as a "savings account". However, the rate does changes from time to time depending on economic condition but it is still competitive with other products, there are also other ways to increase the interest rate such as a minimum monthly spend

      1

      Singlife

      Singlife

      30 Aug 2021

      Hi Kah Seng, that’s awesome! We are thrilled to know that you had a great experience with our app and Singlife Account. :)

      Help us spread the word and if you’re up for it, do drop us a review on our App Store (for IOS users): https://apps.apple.com/sg/app/singlife-investin... or Google Play Store (for Android users): https://play.google.com/store/apps/details?id=c...

      Have a great week ahead!

      What are your thoughts?

      Reply

    Discussions (0)
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      How to get the Highest Rate of Returns for Singlife Account

      Singlife account interest rate changes 2020

      How do you maximise the interest rates returns for Singlife Account?

      Singlife Account's rate of returns are pretty straightforward. The returns per annum for Singlife Account is up to 1.0% p.a. for account balances of up to S$10,000. Take note that the returns are NOT guaranteed.

      • 1.0% p.a. on the first S$10,000
      • 0.5% p.a. for the next S$90,000
      • 0.0% for anything amount above S$100,000
      • Bonus 0.5% p.a. if you spend at least S$500 on your Singlife Card per policy month. Valid till 31 December 2021.

      Benefits of Singlife Account

      • Probably the highest rate of returns offered by insurance savings plans in the market right now, that does not require additional expenditure or investments
      • Singlife Account is a flexible insurance savings plan that gives you access to your savings via the Singlife App and Singlife Visa Debit Card so you can withdraw or top-up more funds to it anytime
      • You can request for a Singlife Visa Debit card which comes with no monthly or annual fees
      • Life Insurance Benefit - Every Singlife Account provides life insurance coverage for death or terminal illness, up to 105% of your account value.
      • Retrenchment Benefit - Singlife accountholders, who are retrenched and unemployed for at least 4 months, can stand to get a retrenchment benefit of their average monthly card transaction values made over the 6 months prior to the retrenchment for 3 months.
      • It is important to remember that Singlife is not a bank savings account, but an insurance savings plan with capital guaranteed by Singapore Deposit Insurance Corporation (SDIC).

      Note: Singlife has currently halted new sign-ups from 15 December 2020

      Wondering what are the differences between the Singtel Dash EasyEarn vs GIGANTIQ vs Singlife Account? And which is the best for you? Check out our Insurance Savings Plan Comparison!

      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?

      1. Download the Singlife App on your mobile phone.
      2. Set-up a Singlife ID & apply for your Singlife Account
      3. Start with just $500 (transfer via FAST, from your OWN bank account)

      Note: you can only open one Singlife Account per person!

      Terms and Fees to look out for in Singlife Account

      • Minimum Account Value: S$100
      • Initial Fund for Account Activation: S$500
      • Interest is calculated daily and credited to your account value on a monthly basis.
      • The interest will be credited on the first day of the following policy month.

      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.

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.

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