Singlife Account

[KenQuek]

damn bloody smart these people who engineered the takeover of aviva.

Hope they don't mess with Navigator and Dollardex.

 

[blue_ice1985]

Did the interest rate drop?

Sep - 19.95
Oct - 20.34
Nov - 18.76
Dec - 16.35

Getting less and less now... Only 1.5% for first 10K now.

 

[reddevil0728]

Singlife is not a bank, interest rates have little impact. They invest with the funds to give you that high returns...

But you aren’t investing. It’s still RFR

 

[Opps-gal]

Anyone close down account?

 

[KenQuek]

But you aren’t investing. It’s still RFR

Aiyo, you jin jialat... Singlife does the investing... You get fraction of the returns... How else they able to pay you returns?

 

[reddevil0728]

Aiyo, you jin jialat... Singlife does the investing... You get fraction of the returns... How else they able to pay you returns?

Correct, but you are conflating the 2?

Even if they do super well with their investment, that doesn’t mean they must maintain the interest rate ma. They can always increase their profit margin by lowering their interest rate but as long as still higher than the banks, they will still benefit.

 

[KenQuek]

Correct, but you are conflating the 2?

Even if they do super well with their investment, that doesn’t mean they must maintain the interest rate ma. They can always increase their profit margin by lowering their interest rate but as long as still higher than the banks, they will still benefit.

Super well? I think they did super bad instead especially during this bull market. Ultimately eyes should be looking at the fund manager at Singlife.

Yes they can also increase profit margin and lower returns for customers(which i don't think that is the case). Super bad move then, the dropping of rates again in just a few months just gives people negative vibes and lose confidence.

Benefit? People starting to move out their funds like we see now because there are alternatives like Singtel Dash. Bad move...

Anyway, it served as a reminder that i shouldn't park too much at Singlife and should have invested even more. Will only keep 10k at Singlife just for keeping account available.

 

[harky]

getting less n less...

any other place to put?

 

[qingyong]

1.5% still quite decent what. FD and salary acc also don't have so much

 

[reddevil0728]

Super well? I think they did super bad instead especially during this bull market. Ultimately eyes should be looking at the fund manager at Singlife.

Yes they can also increase profit margin and lower returns for customers(which i don't think that is the case). Super bad move then, the dropping of rates again in just a few months just gives people negative vibes and lose confidence.

Benefit? People starting to move out their funds like we see now because there are alternatives like Singtel Dash. Bad move...

Anyway, it served as a reminder that i shouldn't park too much at Singlife and should have invested even more. Will only keep 10k at Singlife just for keeping account available.

Hmmm. have you misunderstood/misread/selectively read what i said?

I said "even if they do super well..." I never said "they did super well"...

have you lost money through them hence you aren't very happy?

Well, if you think about it, for as long as they can offer a "no strings attached" interest rate higher than banks/other platform, i am pretty sure a lot of risk averse people who are seeking yield will still put with them. suckers will still be suckers.

Curious why you have a vendetta against them.

 

[reddevil0728]

getting less n less...

any other place to put?

Got places offering higher than 1.5% without strings attached and liquidity as close as you can get to a normal bank account?

 

[DenOOO]

Super well? I think they did super bad instead especially during this bull market. Ultimately eyes should be looking at the fund manager at Singlife.

Yes they can also increase profit margin and lower returns for customers(which i don't think that is the case). Super bad move then, the dropping of rates again in just a few months just gives people negative vibes and lose confidence.

Benefit? People starting to move out their funds like we see now because there are alternatives like Singtel Dash. Bad move...

Anyway, it served as a reminder that i shouldn't park too much at Singlife and should have invested even more. Will only keep 10k at Singlife just for keeping account available.

Already parked funds at higher rates at Singtel Dash and GIGANTIQ, anything higher only 1%, might as well just park at Singlife for liquidity.

So far my experience with Singlife in all aspects have been pretty good, never encountered any late withdrawal/deposit or etc.

 

[orange1988]

Dash easyearn 1.8% 20k
Gigantiq 1.8% 10k
Syfe cash+ 1.75% no limit

 

[KenQuek]

Hmmm. have you misunderstood/misread/selectively read what i said?

I said "even if they do super well..." I never said "they did super well"...

have you lost money through them hence you aren't very happy?

Well, if you think about it, for as long as they can offer a "no strings attached" interest rate higher than banks/other platform, i am pretty sure a lot of risk averse people who are seeking yield will still put with them. suckers will still be suckers.

Curious why you have a vendetta against them.

No i did not misunderstood you, i was just saying they gave the impression that they are not doing well.

Nothing against them, previous post i even said Singlife is still one of the best place to park funds. When i parked funds at Singlife i already wasn't expecting huge returns. But there is a need to voice out about the constant dropping of rates for their feedback if they were reading.

Did not lose money lol.

 

[reddevil0728]

No i did not misunderstood you, i am just saying it looked more like they are not doing well.



Nothing against them, previous post i even said Singlife is still one of the best place to park funds. When i parked funds at Singlife i already wasn't expecting huge returns. But there is a need to voice out about the constant dropping of rates for their feedback if they were reading.


Did not lose money lol.

Then like that all banks also aren’t doing well also.

But whether they do well or not well doesn’t really matter.

As long as they offer a yield that’s higher, then it’s no brainier?

 

[vsvs24]

No i did not misunderstood you, i am just saying it looked more like they are not doing well.

Nothing against them, previous post i even said Singlife is still one of the best place to park funds. When i parked funds at Singlife i already wasn't expecting huge returns. But there is a need to voice out about the constant dropping of rates for their feedback if they were reading.

Did not lose money lol.

All the banks cut interest rate. Insurance companies also give lower rates for those guaranteed capital and income. They all not doing well ?

 

[KenQuek]

Then like that all banks also aren’t doing well also.

But whether they do well or not well doesn’t really matter.

As long as they offer a yield that’s higher, then it’s no brainier?

Ok if that is how you want to think and do.

To me, i am more financially savvy and have account with Dollardex which is also powered by Aviva and the funds are doing well. So it makes me curious what happened for Singlife to do this to lower confidence.

It definitely looks like something failing internally, however since i can't really voice freely so i shall stop here.

 

[KenQuek]

All the banks cut interest rate. Insurance companies also give lower rates for those guaranteed capital and income. They all not doing well ?

Let's exclude banks and interest rate since it is irrelevant. I mean, doesn't anyone else feel something amiss for Singlife to drop rate so often? No other insurance company drops so often.

 

[Shutterfly]

Dash easyearn 1.8% 20k
Gigantiq 1.8% 10k
Syfe cash+ 1.75% no limit

Just to add, Syfe cash+ is non guaranteed .

 

[reddevil0728]

Ok if that is how you want to think and do.

To me, i am more financially savvy and have account with Dollardex which is also powered by Aviva and the funds are doing well. So it makes me curious what happened for Singlife to do this to lower confidence.

It definitely looks like something failing internally, however since i can't really voice freely so i shall stop here.

You can voice freely, but does that mean others can’t?

What I’m trying to point out it’s that it’s of a different basis.

You are comparing Apple to orange.

That’s what I’m pointing out only