Singlife Account

[cassowary18]

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

Point taken; it's important for customers to know the difference. But at it's core, the most important aspects of bank accounts is present in this insurance savings plan: capital guaranteed and high liquidity. So it's still a fair comparison.

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

I think it might have to do with insurance savings plan regulations...

 

[eD|t|0n]

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

Cannot be leh...submit using the app...almost as quick, my side is up...I waited for additional 1 day to move my funds in...so it’s done...

 

[eD|t|0n]

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

Honest about non-guarantee is good la...then cannot reach the 20k members fast fast mah....slowly slowly ok...let the musical chair game continue as Long as possible....

 

[j_lucky]

Cannot be leh...submit using the app...almost as quick, my side is up...I waited for additional 1 day to move my funds in...so it’s done...

I am using the app to apply. I just checked this morning, still pending

 

[TiedInsurer]

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

Name one feature of a bank account, that this insurance savings plan does not have.

 

[cassowary18]

Name one feature of a bank account, that this insurance savings plan does not have.

There are things that this account can't do that bank accounts can. For example, cannot receive PayNow, cannot do Giro, cannot withdraw cash, etc. So it's a fair point. You'll probably still want to have a proper bank account, perhaps one with no fall below fee like DBS My Account, that you can use for day to day banking.

However, the most important characteristics of a bank account, namely capital guaranteed and high liquidity, are there in this account.

 

[TiedInsurer]

There are things that this account can't do that bank accounts can. For example, cannot receive PayNow, cannot do Giro, cannot withdraw cash, etc. So it's a fair point. You'll probably still want to have a proper bank account, perhaps one with no fall below fee like DBS My Account, that you can use for day to day banking.

However, the most important characteristics of a bank account, namely capital guaranteed and high liquidity, are there in this account.

Oh yeah, that's true.

 

[kram62]

My wife applied yesterday with myinfo and account was instantly opened. From start (install app) to end (see the 10k in the account) just 15 min most of which was spent filling information and entering various OTPs (for singlife, singpass, funding bank ibanking...)

 

[ikilledbarbie]

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

Agreed

10char

 

[OnePunch!!]

So Singlife vs Shash away

Singlife win ?

Just Google and it's there

https://www.stashaway.sg/simple

Don't think I'll take this up.
Please do your own research before commit

 

[silverbomb]

So Singlife vs Shash away

Singlife win ?

depends on your investment horizon, and max 10k

Short term: Singlife
Long term: If Singlife rates doesn't falls below 1.7-1.9% in future updates, Singlife still prevails for now.

 

[Crimsom]

My wife applied yesterday with myinfo and account was instantly opened. From start (install app) to end (see the 10k in the account) just 15 min most of which was spent filling information and entering various OTPs (for singlife, singpass, funding bank ibanking...)

Strange. My account opened yesterday with singpass myinfo too.

Today still pending

 

[yiron]

I kind of wish Singlife would up the limit from $10k to $75k while keeping its current rates

 

[path_of_rainbow]

Strange. My account opened yesterday with singpass myinfo too.

Today still pending

Me too! Checked with the CSO, she said case by case basis.

 

[kram62]

I kind of wish Singlife would up the limit from $10k to $75k while keeping its current rates

You can dream. They are already burning their money with the current offer because there's no way they can keep 2.5% guaranteed interest with current global interest rates levels (between 0 and 1% short term). Especially if most people don't put more than 10k.

Better to pray they don't cut it too soon.

 

[Crimsom]

Me too! Checked with the CSO, she said case by case basis.

Update: received email at around 7pm that account is ready.

Transferred $500 and instantly received email that account activated, will start earning 2.5% interest

Transferred another $9500.. so far so good. Enjoy the interests while it lasts.

 

[Gambler.]

just activated too and transferred $500.

will monitor before putting in another 9500

 

[IronMan123]

Hi, my account just ready. In order to FAST into my Singlife account, does it matter if the reception (my name) surname is at the back?

Posted with iPhone HardwareZone Forums app

 

[mosmos]

Hi, my account just ready. In order to FAST into my Singlife account, does it matter if the reception (my name) surname is at the back?

Posted with iPhone HardwareZone Forums app

most impt is the superlong account number is correct

 

[Conor McGregor]

Hi, my account just ready. In order to FAST into my Singlife account, does it matter if the reception (my name) surname is at the back?

Posted with iPhone HardwareZone Forums app

Account number correct will be the most important