Singlife Account

[TiedInsurer]

Still money not in. This is the 1st time I face such issue.

Same... seems like we waited too long. Should have hit the withdraw button the moment the news hit. Now probably have to wait a bit for them to liquidate whatever it was they parked our funds in, so that they can pay us back.

 

[reddevil0728]

Multiple instances previously where their system not stable

 

[chopra]

I think you are better off in investing it instead. MBH offers 2% yield to maturity. Rates may increase and you may have some MTM losses in short term, but over 1yr I think you will do better than Syfe cash+.

I personally prefer a proper broker and asset allocation myself instead of the Robos now. I am getting out of all of them.

cannot risk investing in other products for this set of cash. so im looking at syfe's MMF. i park other $ in iwda n eimi

 

[TiedInsurer]

Still money not in. This is the 1st time I face such issue.

Mine just went through. About 5hrs to process. Still quite fast.

 

[reddevil0728]

cannot risk investing in other products for this set of cash. so im looking at syfe's MMF. i park other $ in iwda n eimi

But you know that MMF more risky than Singlife right?

 

[revhappy]

Mine just went through. About 5hrs to process. Still quite fast.

Yes mine also. I wats app them and this is their reply.

 

[chopra]

But you know that MMF more risky than Singlife right?

yes n no. frankly didnt dive deep into singlife underlyings, mind sharing what is it. haha

 

[revhappy]

But you know that MMF more risky than Singlife right?

He is not comparing with Singlife, he was responding to my suggestion to invest in MBH.

Actually different products have different risks.

Some have interest rate risk but very low default risk. MBH is such a product. You may see low returns for some time if rates go up but over a period of time it should be good.

Syfe cash+ is lower duration, so interest rate risk is low. But one of their bond fund invests in lower quality BBB short duration bonds, which is theoretically riskier than MBH, for default and they have exposure to China companies as well.

Singlife is an insurance company and has sdic coverage, but here the risk is liquidity. When you desperately need the money you may not get it and have to wait for a long time. That is also a kind of risk.

 

[TiedInsurer]

Yes mine also. I wats app them and this is their reply.

Haha seems like have significant number of people with the same idea as us.

I will part ways with Singlife here, but the relationship and experience has been nothing short of stellar. I'll certainly come back again if their interest rates becomes more competitive, or if my risk profile changes.

 

[vsvs24]

He is not comparing with Singlife, he was responding to my suggestion to invest in MBH.

Actually different products have different risks.

Some have interest rate risk but very low default risk. MBH is such a product. You may see low returns for some time if rates go up but over a period of time it should be good.

Syfe cash+ is lower duration, so interest rate risk is low. But one of their bond fund invests in lower quality BBB short duration bonds, which is theoretically riskier than MBH, for default and they have exposure to China companies as well.

Singlife is an insurance company and has sdic coverage, but here the risk is liquidity. When you desperately need the money you may not get it and have to wait for a long time. That is also a kind of risk.

Singlife has risk of liquidity ?

It's once in a while that they have delay, not the norm.

 

[revhappy]

Singlife has risk of liquidity ?

It's once in a while that they have delay, not the norm.

I am not talking about today's episode. But in general, if they are giving you such high returns of 1.5%, there could be chances of liquidity risk. They are not a bank where they can get very cheap deposits. They are promising high liquidity like a bank. But that may not be possible all the time. In times of severe stress, when everyone wants their money back, they may not be able to raise cash. We are not even sure to whom they are lending the money and where they are investing. The only assurance is SDIC, but that could take time to get your money back. Thats why I called it liquidity risk, not a loss of money risk.

 

[tesarise]

He is not comparing with Singlife, he was responding to my suggestion to invest in MBH.

Actually different products have different risks.

Some have interest rate risk but very low default risk. MBH is such a product. You may see low returns for some time if rates go up but over a period of time it should be good.

Syfe cash+ is lower duration, so interest rate risk is low. But one of their bond fund invests in lower quality BBB short duration bonds, which is theoretically riskier than MBH, for default and they have exposure to China companies as well.

Singlife is an insurance company and has sdic coverage, but here the risk is liquidity. When you desperately need the money you may not get it and have to wait for a long time. That is also a kind of risk.

Compared to MBH and syfe cash+, I don't think liquidity risk is the thing you should call out for Singlife... Syfe cash+ would need a few days to liquidate the underlying funds when you withdraw. MBH will either need to find someone else selling or deal with market maker, and take T+2 to settle. Both take way longer than Singlife when you desperately need the money

 

[acetylcholine]

Is the PPF coverage limit for this account up to $100,000? Thinking of topping up to benefit from the 1% interest given that the other bank accounts are also around that range now.

 

[Barbarblacksheep]

What is MBH?

 

[coloumbiaGames]

What is MBH?

https://www.sgx.com/securities/products/MBH

 

[chopra]

https://www.sgx.com/securities/products/MBH

cannot see underlying

 

[tesarise]

cannot see underlying

https://www.nikkoam.com.sg/etf/sgd-investment-grade-corp-bond

 

[chopra]

https://www.nikkoam.com.sg/etf/sgd-investment-grade-corp-bond

tks mainly SWFs n gd corporate bonds

 

[cassowary18]

Is the PPF coverage limit for this account up to $100,000? Thinking of topping up to benefit from the 1% interest given that the other bank accounts are also around that range now.

Yes but do take note of the daily withdrawal limit of $20K.

 

[saintgtril]

Hi all, anyone intends to move out from SingLife (1.5% for first $10K) to Dash EasyEarn (1.8% for the first $20k) or/and Gigantia (1.8% for the first $10k)?