Singlife Account Reviews and Comparison - Seedly
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Singlife Account

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  • Reviews (20)
  • Questions (4)
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Savings Accounts/Singlife Account

Singlife Account

4.8
20 reviews

USER RATINGS

Read reviews

Customer Support

4.6

Ease of online banking

4.8

Singlife Account

Up to 2.5% p.a
INTEREST RATES
$500
MIN. INITIAL DEPOSIT
$100
MIN. AVG DAILY BALANCE

    Singlife Account

    Up to 2.5% p.a
    INTEREST RATES
    $500
    MIN. INITIAL DEPOSIT
    $100
    MIN. AVG DAILY BALANCE

Details

How to maximise the returns for Singlife Account?

The returns per annum for Singlife Account is 2.50% p.a. for account balances S$10,000. Returns are not guaranteed.

  • 2.5% on the first S$10,000
  • 1% on the next S$90,000
  • 0% on amounts above S$100,000
Read More about Singlife Account
Reviews (20)

4.8

20 Reviews

  • 5
    12
  • 4
    4
  • 3
    0
  • 2
    0
  • 1
    0

Read Review About...

application process

fuss free

online banking

bank account

debit card

transfer money

bank transfer

customer service

not guaranteed

fast transfer

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  • Updated 1h ago

    Purchased

    Singlife Account

    [Fuss Free] Easy to setup, transfer, the mobile apps written quite well abeit some bugs which they fix it over the weekend. [Customer Service] Via whatsapp, fb messenger and email. Quite responsive, thus so far so good. [Interest] First 20k sign up for the savings of first 10k savings get 2.5% interest (non-guaranteed). As at now 1st Apr 2020 (not april fools joke), the first 20k still available. [Application Process] Quite fuss free, just download the app, follow the apps to sign up and we're done. [Online Banking] Their app quite simple and easy to use without much clutter, from time to time may have some bugs but they usually resolve within days. Fund trasnfer via FAST is much easier. [Summary] So far so good, hopefully the 2.5% interest last as long as possible consider all the current available savings that is liquid is all below 2%. Cheers
    0 comments
    0
  • Updated 5h ago

    Purchased

    Singlife Account

    Getting to be the first few sign up to enjoy the 2.5% interest rate is challenging. But once you are past it, everything is smooth. It took less than 5 minutes to open an account and deposit money in. I was also able to instantly withdraw the money via FAST (Meaning I see the withdrawn money from Singlife in my bank account in less than a minute). I also like that Singlife have an official WhatsApp chat that their staff will reply enquiries. However, do note that Singlife does not work on weekend... So if you are accidentally locked out or have issue with the account, you have to wait till the next working day. Unlike banks who usually calculate the interest on a calendar month cycle, the interest payment is only in from the policy month. (I.e signed up on 11, interest will only be in every 11 of the month). Unlike certain bank apps that allow you to use face recognition, Singlife app auto logs out and forget your information if you hasn’t login for awhile. However, if you login frequently, the facial recognition does work. Overall the the interest rate is good, deposit and withdraw process is fuss free if you do not get locked out. The app is simple and works well since you probably only need to login once in a long while.
    0 comments
    0
  • Updated 5h ago

    Purchased

    Singlife Account

    [Fuss Free] [Online Banking] [Interest] Best no frills bank. Easy to open account. Park at least $500 and you start earning interest on a daily basis. Best when it's registered with MAS. Yes, I did get a reply from MAS about this.
    0 comments
    0
  • Updated 6h ago

    Purchased

    Singlife Account

    [Application Process] It was easy to apply. You are able to link to SingPass, which is easier as you do not have to fill up your information manually. The instructions are clear too. [Online Banking] Transferring money was fuss free. [Interest] Most importantly, the interest rate is high! 2.5% for the first 10k.
    0 comments
    0
  • Updated 1d ago

    Purchased

    Singlife Account

    [Application Process] Easy. Even live verify your face. $500 is need for initial transfer, but only need minimum of $100 in account to enjoy the benefits. [Online Banking] Deposits and withdrawals is quite instantaneous. At most within the next 5 to 10mins. No additional costs or penalties. App itself is fast and lag free, but fetching of 'activities' from server can be a little slow. [Interest] Capital guaranteed, interest not guaranteed. Shows the accumulated interest you earn everyday. Interest is paid out at end of month into your account. 2.5% for first 10k, 1% next 90k. [Others] Singlife Debit Card - No additional FX fees, zero annual fees Life Insurance Coverage up to 105% of account value. Retrenchment Coverage - depends on average card spending 6 months before retrenchment (PAYOUT value) - unemployed for at least 4 months, payout for 3 months thereafter @ PAYOUT value/ month
    0 comments
    0
Questions (4)

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CIMB FastSaver Account

Singlife Account

Johnson Koh
Johnson Koh
Level 4. Prodigy
Answered 1h ago
How much money do you have? if you have 50k, cimb interest = $500 singlife = $250 + $400 = $650. it's 2.5% for first 10k btw. note: singlife is not guaranteed - in the sense that they can change anytime. if you have other amount you can just apply the simple math - but from what i see singlife CIMB in interest rate for any amount. tried withdrawing via singlife, settled in 3hrs. CIMB should be instant via FAST transfers.
👍 0

Singlife Account

Interest Rates

Singlife can decide to reduce the 2.5% interest rate. Your capital is protected but the interest rate can change. That's it.
👍 0

Singlife Account

Savings Accounts

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
Hey Anon, there is no lock-in period and you are free to cancel the account anytime with no penalities or whatsoever, there's no minimum balance or fall-below fee etc. So in the event you decide to terminate your account, you should get back your $100.
👍 0

Savings

Singlife Account

Gabriel
Gabriel
Level 8. Wizard
Answered 6d ago
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.
👍 0

How to maximise the returns for Singlife Account?

The returns per annum for Singlife Account is 2.50% p.a. for account balances S$10,000. Returns are not guaranteed.

  • 2.5% on the first S$10,000
  • 1% on the next S$90,000
  • 0% on amounts above S$100,000

Benefits from Singlife Account

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.

Eligibility

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

How to sign up

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.