Singlife Account

[TiedInsurer]

Sometimes you have to ask yourself, is it really worth the effort chasing teaser rates?

When it comes down to it, everything is a teaser rate isn't it? The "best" credit card to use for a specific expense keeps changing, as banks nerf or enhance cards depending on their goals. For example, the DBS Live Fresh is the best cashback card, an average card, or the worst card possible, depending on which year you are asking. The "best" high interest savings account is also constantly changing, with the banks' constantly changing their T&Cs.

It really depends on what individuals want to achieve. For some people like me, it's more of a hobby? Min-maxing and milking the system off every possible cent.

For others, like my brother, this few hundred dollars of interest and cashback every year is too small an amount for him to bother, given the time and energy needed to keep updated. He'd rather spend that time and energy day-trading for a potentially much larger return.

 

[silverbomb]

I suggest people to start with 500 to kick start the account and secure current rates. The more u hesitate, the less chance u are securing 2.5%. If u don't wish like keeping too much aft some time or change of heart, u can withdraw till min. $100 or zero it then they will terminate the account automatically aft some time. For a account limited to just 10k, it's not difficult especially compared to endowment where min guaranteed cannot be matched if you choose to withdraw halfway thru the term. Whereas u will still get back the capita at any point with singlife account.

 

[demoforce1]

When it comes down to it, everything is a teaser rate isn't it? The "best" credit card to use for a specific expense keeps changing, as banks nerf or enhance cards depending on their goals. For example, the DBS Live Fresh is the best cashback card, an average card, or the worst card possible, depending on which year you are asking. The "best" high interest savings account is also constantly changing, with the banks' constantly changing their T&Cs.

It really depends on what individuals want to achieve. For some people like me, it's more of a hobby? Min-maxing and milking the system off every possible cent.

For others, like my brother, this few hundred dollars of interest and cashback every year is too small an amount for him to bother, given the time and energy needed to keep updated. He'd rather spend that time and energy day-trading for a potentially much larger return.

same here, it is a hobby

 

[eD|t|0n]

The daily card limits enables up to 15 transactions per day and a daily spend limit of up to $5000.

same here, it is a hobby

I meant withdrawal limit by way of transferring out of the account and not through the debit card?

 

[Pesantkie]

Has anyone tried to pay using Singlife Debit Card? Can it use paywave? I alr forget if there is any debit card pin assigned.

Posted from PCWX using ONEPLUS A6000

 

[IronMan123]

How long for the account to be open? Submitted few days liao but still pending approval...

Posted with iPhone HardwareZone Forums app

 

[peppermint7]

How long for the account to be open? Submitted few days liao but still pending approval...

Posted with iPhone HardwareZone Forums app

Usually immediate. Watsapp in to ask

 

[j_lucky]

Submit yesterday and now still pending. Maybe need to wait until Monday. The policy didn't mention the guaranteed return 2.5%, not sure still have that rate or not

 

[peppermint7]

Submit yesterday and now still pending. Maybe need to wait until Monday. The policy didn't mention the guaranteed return 2.5%, not sure still have that rate or not

If u put in $500. 12.05am u see 3c accrued to u. Means u are within the 20k

 

[platee]

Lousy la. 2.5% non guranteed. Sooner or later they surely gonna change the t&c.

 

[1993newbie]

Am on my third month. So far still in the rate. Sooner or later might change but why not take this opportunity to leave it in there and earn it while interest remain unchanged.

Lousy la. 2.5% non guranteed. Sooner or later they surely gonna change the t&c.

 

[testingabc]

Lousy la. 2.5% non guranteed. Sooner or later they surely gonna change the t&c.

For $10K I will take it first, if they change T&C I can move elsewhere the funds

 

[cassowary18]

Lousy la. 2.5% non guranteed. Sooner or later they surely gonna change the t&c.

Idk why people keep complaining about this. You think your interest rate in your DBS Multiplier, UOB One, OCBC 360, Citi Maxigain, etc is guaranteed also meh? All these accounts have been nerfed in the last year; DBS even nerfed Multiplier twice in 4 months.

Just take the interest and shift around if interest rates get cut. I thought Singaporeans love to take their funds on an interest rate merry-go-round.

 

[silverbomb]

Idk why people keep complaining about this. You think your interest rate in your DBS Multiplier, UOB One, OCBC 360, Citi Maxigain, etc is guaranteed also meh? All these accounts have been nerfed in the last year; DBS even nerfed Multiplier twice in 4 months.

Just take the interest and shift around if interest rates get cut. I thought Singaporeans love to take their funds on an interest rate merry-go-round.

Agree. Don't see why the need to put down a good alternative. Banks are doing tnc changes time to time, and with most of the banks changing during Apr may period singlife looked more promising.

Just take the singlife as another bank acct. If rates goes below expectation, then just park your funds elsewhere. Wouldn't crack brains too much as this is optimised best for first 10k. At least u don't lose value when compared to endowment when withdrawing prior to maturity, that I would say is definitely non-guaranteed

 

[a4973]

Yah I already put for my wife & myself, wasted my mum exceed the upper age limit & my child have not met the lower age limit or else will put also.

 

[Conor McGregor]

Just whack 10k for this account. Don’t need think so much

Every day see interest grow

If they change tnc, take funds out and roll somewhere else

 

[platee]

Idk why people keep complaining about this. You think your interest rate in your DBS Multiplier, UOB One, OCBC 360, Citi Maxigain, etc is guaranteed also meh? All these accounts have been nerfed in the last year; DBS even nerfed Multiplier twice in 4 months.

Just take the interest and shift around if interest rates get cut. I thought Singaporeans love to take their funds on an interest rate merry-go-round.

Not apple to apple comparison. This is not a bank account. It's an insurance savings plan with no lock in.

 

[peppermint7]

Not apple to apple comparison. This is not a bank account. It's an insurance savings plan with no lock in.

Do u have a better recommendation? Do share with us here

 

[Zoinks]

Has anyone tried to pay using Singlife Debit Card? Can it use paywave? I alr forget if there is any debit card pin assigned.

Posted from PCWX using ONEPLUS A6000

Can PayWave but cannot Apple Pay. I didn’t get any PIN number, maybe cos cannot go ATM withdraw.

 

[Zoinks]

Agree. Don't see why the need to put down a good alternative. Banks are doing tnc changes time to time, and with most of the banks changing during Apr may period singlife looked more promising.

Just take the singlife as another bank acct. If rates goes below expectation, then just park your funds elsewhere. Wouldn't crack brains too much as this is optimised best for first 10k. At least u don't lose value when compared to endowment when withdrawing prior to maturity, that I would say is definitely non-guaranteed

I think SingLife shouldn’t have been so honest and upfront that it is non-guaranteed, should just be banks which doesn’t put those words there. Now all people see is non-guaranteed..lol