Singlife Account

[ekardo]

70c per withdrawal is ok lah. This cannot regard as regular bank to happy happy withdraw one. Already better than fix D that cannot withdraw.

Anyway, who cares about the purpose of singlife? Who pay more then put where. I haven't found alternative place to park.

 

[reddevil0728]

Keep at most $30k inside bah. $10k for 1% and the remaining $20k for flexible withdrawals w/o fees (while earning 0.5%...).

Wanted to top up Gigantiq but realise there's a 70 cents charge per withdrawal.
Already max Dash PET ($30k) and EasyEarn ($20k).
Don't want to touch Elastiq to preserve the bonus at the end of 3 years.
Max Vivid.sg just below $20k

Running out of options already

Now praying for SSB rates to go up soon... can park 10 years above 2.5% I'll be happy already.

i think since SSB started, it barely went over 2.5% much in the early days..

with "ultra" low interest environment going to be like the new normal? i don't think got high hopes. even if got chance. unlikely will be anytime soon.

 

[LordDeathZ]

eSaver is giving 0.5% interest for fresh funds deposited this month. I would like to clarify for singlife, the 0.5% rate above 10k is fixed 0.5 or up to 0.5?

 

[maumu]

eSaver is giving 0.5% interest for fresh funds deposited this month. I would like to clarify for singlife, the 0.5% rate above 10k is fixed 0.5 or up to 0.5?

fixed 0.5% for above $10k

 

[LordDeathZ]

fixed 0.5% for above $10k

First 10k is up to 1%?

 

[reddevil0728]

eSaver is giving 0.5% interest for fresh funds deposited this month. I would like to clarify for singlife, the 0.5% rate above 10k is fixed 0.5 or up to 0.5?

First 10k is up to 1%?

What do you mean by “up to” in the first place

 

[LordDeathZ]

What do you mean by “up to” in the first place

If I remember correctly Singlife never guarantee their rates. Therefore it is always "up to", maximum of x%. The actual returns varies across different months.

 

[reddevil0728]

If I remember correctly Singlife never guarantee their rates. Therefore it is always "up to", maximum of x%. The actual returns varies across different months.

Your interpretation is incorrect. they never guarantee that it will be 1% for x number of months.

but they will announce before hand when they gonna effect the change.

 

[LordDeathZ]

Your interpretation is incorrect. they never guarantee that it will be 1% for x number of months.

but they will announce before hand when they gonna effect the change.

So means the current rates for
- First $10k: Up to 1% (Maximum 1%)
- Anything above $10k: Up to 0.5% (Maximum 0.5%)

So the actual returns is always lower than 1%/0.5%.

Correct?

 

[reddevil0728]

So means the current rates for
- First $10k: Up to 1%
- Anything above $10k: Up to 0.5%

Correct?

no "up to". this isn't an "investment". see it as just straight up interest rate for deposit.

if they going to reduce the 1% or 0.5%, they will give advance notice on whether they changing.

 

[LordDeathZ]

no "up to". this isn't an "investment". see it as just straight up interest rate for deposit.

if they going to reduce the 1% or 0.5%, they will give advance notice on whether they changing.

So it is straight (fixed) 1%/0.5%?

 

[reddevil0728]

So it is straight (fixed) 1%/0.5%?

it is first 10k - 1%
next 90k - 0.5%
anything above 100k - 0%

 

[DenOOO]

So it is straight (fixed) 1%/0.5%?

Not really fixed if you include the 2 promotion campaigns.

Potentially up to 2% for first 10k if you fulfill both campaigns.

 

[reddevil0728]

Not really fixed if you include the 2 promotion campaigns.

Potentially up to 2% for first 10k if you fulfill both campaigns.

like that gonna confuse poster even more lol

 

[PC-User]

Actually, 0.5% p.a. for 10K is only $4 per month. 'Additional 0.5%' is good. 'For the first 10,000' is not.

 

[reddevil0728]

Actually, 0.5% p.a. for 10K is only $4 per month. 'Additional 0.5%' is good. 'For the first 10,000' is not.

cannot look at it on an absolute basis. must look at it on a relative basis.

 

[CrashWire]

Not really fixed if you include the 2 promotion campaigns.

Potentially up to 2% for first 10k if you fulfill both campaigns.

I suggest that people don't even consider their Grow bonus.

You need to invest at least $1,000 into their non-capital-guaranteed ILP (which has a management fee) just to earn that extra $4 on your base $10k.

 

[~sabaisabai~]

thought 1st 10k 1% and the rest 0.3% unless u use their card? correct me if I'm wrong

 

[reddevil0728]

thought 1st 10k 1% and the rest 0.3% unless u use their card? correct me if I'm wrong

visit their website and see?

 

[tesarise]

I suggest that people don't even consider their Grow bonus.

You need to invest at least $1,000 into their non-capital-guaranteed ILP (which has a management fee) just to earn that extra $4 on your base $10k.

Or think of the "extra $4" as a fee waiver to try out Grow ?