Singlife Account

sansanjikikut

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- Extended both the 'Save, Spend, Earn' and 'Grow Bonus Return' campaigns till end of the year
- Full withdrawals from Grow to Singlife Account is now possible
- Fixed Amex payment flow issues
 

ysyj48

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any idea how to close the acct? i want to withdraw everthg and close... the interest rate not attractive anymore. read thru the faq on their website but doesnt say how to terminate the acct
 

mosmos

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any idea how to close the acct? i want to withdraw everthg and close... the interest rate not attractive anymore. read thru the faq on their website but doesnt say how to terminate the acct
Click manage account and then terminate


 

silverbomb

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any idea how to close the acct? i want to withdraw everthg and close... the interest rate not attractive anymore. read thru the faq on their website but doesnt say how to terminate the acct
if you have $100 to spare, just leave it inside to keep the account active.

there comes a day where interest rates increases and decreases, past 1-2 years was a bad interest environment but singlife may come revisiting the interest rates higher (who knows). the only issue is that because these are operated like policy per se, once you terminate aka "surrender" the policy, you may or may not be able to reopen the account. some accounts such like Singlife and Gigantiq has clauses that says that they may not allow you to reopen an account with them in future.
 

vsvs24

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if you have $100 to spare, just leave it inside to keep the account active.

there comes a day where interest rates increases and decreases, past 1-2 years was a bad interest environment but singlife may come revisiting the interest rates higher (who knows). the only issue is that because these are operated like policy per se, once you terminate aka "surrender" the policy, you may or may not be able to reopen the account. some accounts such like Singlife and Gigantiq has clauses that says that they may not allow you to reopen an account with them in future.
Good suggestion. There was a time they freeze opening of new accounts.
 

sansanjikikut

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Multiplier and singlife has not improved the rates so far. It’s all on downward trend since both products inception afaik. Correct me if I’m wrong..
 

chopra

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Multiplier and singlife has not improved the rates so far. It’s all on downward trend since both products inception afaik. Correct me if I’m wrong..

banks already lag net interest margin, let alone insurance and second order companies and products
. i think it will only go up after ocbc 360, uob 1 , dbs mutiplier, bonussaver etc improve their savings rates

Sent from EDMWER app!
 

saintgtril

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any idea how to close the acct? i want to withdraw everthg and close... the interest rate not attractive anymore. read thru the faq on their website but doesnt say how to terminate the acct
Hi, i think otherwise. They offer one of the highest interests (1.0% + 0.5% for debit spend) with not much strings attached + flexibility to withdraw, though their apps is still not up to standard. Lol.
 

cassowary18

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Multiplier and singlife has not improved the rates so far. It’s all on downward trend since both products inception afaik. Correct me if I’m wrong..
Singaporeans love to hoard cash. So if the interest rate go down they LLST still keep their money in the bank account. Plus interest rates are still considered low.

The other thing also is that Singaporeans like to shift their money around to whichever bank has the highest interest rate. Maybe that will push banks to offer better interest rates.

Hopefully bank/insurance savings plan interest rates go up when Fed hikes rates. Otherwise I'll shift my emergency funds to SSB.
 

vsvs24

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Singaporeans love to hoard cash. So if the interest rate go down they LLST still keep their money in the bank account. Plus interest rates are still considered low.

The other thing also is that Singaporeans like to shift their money around to whichever bank has the highest interest rate. Maybe that will push banks to offer better interest rates.

Hopefully bank/insurance savings plan interest rates go up when Fed hikes rates. Otherwise I'll shift my emergency funds to SSB.
Only some Singaporeans like to shift funds. Majority too lazy or ignorant. Around all my family and friends, only another friend and me shift funds to get the highest possible interest. The rest just stay put even if interest is low. 😅

Like this kind of Singlife $10,000, they will say forget it.
 

sohguanh

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Only some Singaporeans like to shift funds. Majority too lazy or ignorant. Around all my family and friends, only another friend and me shift funds to get the highest possible interest. The rest just stay put even if interest is low. 😅

Like this kind of Singlife $10,000, they will say forget it.
Although now shifting of funds is easy with a few taps there are administration hassle for some ppl. They may have multiple bank acct maybe in different FD and they need make sure once shift out still meet minimum balance for those that got such rules etc

E.g this is for 10k they will calculate this 10k I stay put in existing bank acct how much I lose out. If it is so small they rather forget the hassle to shift here and there.

If Singlife can extend the 10k limit of up to 1% interest to 100k or higher for that interest I am sure ppl will shift in despite the hassle. I know I will.
 
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vsvs24

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If Singlife can extend the 10k limit of up to 1% interest to 100k or higher for that interest I am sure ppl will shift in despite the hassle. I know I will.
Some will not because they will say Singlife not a bank so they worried. Plus some people especially elderly prefer to go in person to branch.
 

Peanut15

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Is there an issue transferring money to Singlife from a bank with different name?
(Eg, transfer from my bank acc to parent's singlife account)

I've been doing it for more than 1 year, suddenly CSO say cannot transfer since dec21.
 

ctan84

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Is there an issue transferring money to Singlife from a bank with different name?
(Eg, transfer from my bank acc to parent's singlife account)

I've been doing it for more than 1 year, suddenly CSO say cannot transfer since dec21.
Right from the start (in mid 2020) they already "strongly encouraged" the bank account to be the same name. Guess its mandatory now.
 

demoforce1

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Is there an issue transferring money to Singlife from a bank with different name?
(Eg, transfer from my bank acc to parent's singlife account)

I've been doing it for more than 1 year, suddenly CSO say cannot transfer since dec21.
yes, they return mine few days ago :(
 

twosix

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1% interest rates is considered good nowadays. Tiq is giving only 0.7% now.
 

Nicholas5538

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Has anyone tried to withdraw from Singlife this morning? I tried to withdraw this morning and have yet to received it. Usually it would take about 5-10 minutes for me
 
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