Singlife Account

[nedlowe]

how is the card good for usage in overseas compare to youtrip and revolut ?

It is comparable - we don't charge for FX. Try it out and see!

 

[nedlowe]

Hi Ned, I'm also in the same situation. Been stuck with the "application pending" screen since 5 March. Any way you can help? (Don't have enough posts to PM you yet)

Thanks

Have you contacted support? They should be able to help you (you can Whatsapp them from within the app). Thanks!

 

[peppermint7]

Don't think is compound whole month. Should be compound whole year only then can get near 2.5%

Based on current earning rate, if 1st deposit is $9777 from the start of the policy year and no withdrawal. Month 12th deposit is accumulated to $10k so whole policy year same interest rate for calculation. After one whole year total interest earn is about $243.97. Refer to the initial deposit of $9777 is 2.495% , close to the 2.5% target payout.

So did u place 9777 instead of 10k?

 

[vddgnd]

So did u place 9777 instead of 10k?

When I start this account, I also blur and unsure. I started with 500 at first. Then I saw account seem working fine and I top up to 10k. Monitored the internet for few days not really tally, then I investigate how the rate really work.
I would see this account as 2.47% rate if I will compare to my other bonus interest account with bank.
You can put 10k and treat this as 2.47% account and monthly withdraw earned interest or if you want the account autopilot and don't want part of the balance earning 1%, then 9777 is a rough value that ensure all the balance in the account is earning high rate.
I am not expert. Many here are better than me.

 

[a4973]

When I start this account, I also blur and unsure. I started with 500 at first. Then I saw account seem working fine and I top up to 10k. Monitored the internet for few days not really tally, then I investigate how the rate really work.
I would see this account as 2.47% rate if I will compare to my other bonus interest account with bank.
You can put 10k and treat this as 2.47% account and monthly withdraw earned interest or if you want the account autopilot and don't want part of the balance earning 1%, then 9777 is a rough value that ensure all the balance in the account is earning high rate.
I am not expert. Many here are better than me.

Question, for $9777 lump sum, how much is the kopi lui $ each month? Thank you

 

[peppermint7]

Question, for $9777 lump sum, how much is the kopi lui $ each month? Thank you

I only know
I tried place $500 at 11.30pm at night
12 midnight see 3c accrued interest.

If $10k
See 67c

9777 = ? Int
Yet to test
(Likely 65c)

 

[a4973]

I only know
I tried place $500 at 11.30pm at night
12 midnight see 3c accrued interest.

If $10k
See 67c

9777 = ? Int
Yet to test
(Likely 65c)

Oh so it's daily interest. Thanks

 

[peppermint7]

Oh so it's daily interest. Thanks

Daily accrued. Monthly can withdraw the interest and keep in biscuit tin (if u don't want your interest to earn 1%)

 

[cassowary18]

Daily accrued. Monthly can withdraw the interest and keep in biscuit tin (if u don't want your interest to earn 1%)

Monthly can withdraw and put in other HISA liao.

2.5% is not bad, beats most other accounts in the market (especially with no requirements). 1% above 10K is also not too bad, comparable to CIMB Fastsaver. If you can clear the hurdles for other bank accounts, it's not a bad choice to deposit your interest in other HISA. Otherwise, keep it inside and earn 1% interest on your interest in the Singlife account also not too bad.

 

[peppermint7]

Monthly can withdraw and put in other HISA liao.

2.5% is not bad, beats most other accounts in the market (especially with no requirements). 1% above 10K is also not too bad, comparable to CIMB Fastsaver. If you can clear the hurdles for other bank accounts, it's not a bad choice to deposit your interest in other HISA. Otherwise, keep it inside and earn 1% interest on your interest in the Singlife account also not too bad.

1% is up to 100k.

Anything above 100k is 0%

 

[cassowary18]

1% is up to 100k.

Anything above 100k is 0%

If you got above 100K you should be putting in other bank accounts like CIMB Fastsaver liao. This account you park $10K, the remainder put in CIMB Fastsaver.

 

[Disaresta]

Card is here

Posted from PCWX using XWCP

 

[testingabc]

2.5 is super nice. higher than many fixed deposit

Yes its very nice and flexible. Small downside is only limited to $10K. If they drop the interest rate, can just withdraw unlike most fixed deposit.

 

[peppermint7]

Card is here

Posted from PCWX using XWCP

Looks nice! Looks like Singtel too

 

[cassowary18]

Yes its very nice and flexible. Small downside is only limited to $10K. If they drop the interest rate, can just withdraw unlike most fixed deposit.

Fixed D rates are guaranteed until end of tenor though

 

[testingabc]

Fixed D rates are guaranteed until end of tenor though

but currently there is no short term fixed deposit more than 1.7%. so i would prefer the funds to be flexible and can withdraw anytime.even if singlife will to drop the interest rates, i can deploy elsewhere.

 

[cassowary18]

What's the deposit insurance on this account? Not sure if it's eligible for SDIC since it's an insurance plan.

EDIT: it's eligible for policy owner protection scheme, not deposit insurance like your bank accounts

 

[Sambuca78]

You still have time to sign-up!

Is the slot still available?

Can we withdraw cash from oversea ATM? If so is there a cap?

Thanks.

 

[peppermint7]

What's the deposit insurance on this account? Not sure if it's eligible for SDIC since it's an insurance plan.

EDIT: it's eligible for policy owner protection scheme, not deposit insurance like your bank accounts

Thanks for pointing out.
What is our coverage for the 10k deposited?

According to SDIC, it is covered up to 50k for guaranteed sum assured and up to 100k for guaranteed surrendered value.

I'm now trying to figure out what is our guaranteed sum assured / surrender value..

Update: seems like it's our account value. So all is well?

 

[BlueRobin]

I tried to respond to your PM, but as a new user I don't have enough posts yet. I will send your details to our support team and get them to your check your KYC status. Thanks!

Ned thanks but so far nothing from your end. No email no one called and status remained the same. I actually think applying for bank loan will get approval faster than open a Singlife account to put money in