Singlife Account

[crystalnox]

Hi singlife the first $10k is it guaranteed 2.5% interest?

As of now it is 2.5%, but no guarantees on how long it will last.

 

[kram62]

@kram62,
Ppf not under sdic meh?

Yeah well most people here use SDIC as shortcut for the deposit insurance scheme, which applies to banks up to 75k.
I continued using the shortcut to keep it simple but both DIS and PPF are under SDIC indeed.

 

[1993newbie]

Yup. Already earned around there for past 3 months.

Hi singlife the first $10k is it guaranteed 2.5% interest?

 

[rkesin]

I am not qualify for the standard chart jumpstart as over age limit.

Currently OCBC 360 also have also flowing balance of around $20k

Should I put $10k in singlife and $10k in vivid saving account?

Anybody can guide me?

These $20k must be flexible, can be withdraw anytime.

May as well just put 20k in Singlife. First 10k will be 2.5%, next 10k will be 1%.

Vivid first 10k is 1.05%.

The difference is +$5 over the course of 1 year for the 10k you would put into Vivid. Doesn’t seem worth it considering you will have to manage a different account + uncertainties surrounding withdrawal (seems like you can only withdraw in branch and starting next year there is a $3 fee per withdrawal).

 

[decibel.]

The PPF coverage is already mentioned on their website.

The grey area is there's no maturity in this life policy right? According to the PPF, you will be compensated the guaranteed benefits if you filed a claim before the insurer fails.

In this case, either you die or you close your account. If not, SDIC either continue provide guarantee for the plan or transfer to other insurers.

They're talking about the life coverage and not the account balance withdrawal. Isn't it same as locking $10K in there if you didn't close account before they fail?

Sent from HUAWEI VOG-L29 using GAGT

 

[gazar1]

Yup. Already earned around there for past 3 months.

Can just withdraw and transfer freely using the app itself?

Don’t need to go to any bank or atm to make transfer?

 

[1993newbie]

Yup anytime can withdraw using app

Can just withdraw and transfer freely using the app itself?

Don’t need to go to any bank or atm to make transfer?

 

[popime]

So do u guys put 10k in singlife and the rest in cimb fastsavers or everything to singlife?

 

[gazar1]

If I have $50k

What should I put?

All in singlife?

I am 32 this year.

 

[Shutterfly]

If I have $50k

What should I put?

All in singlife?

I am 32 this year.

CIMB unless you already max out that.

 

[Shutterfly]

So do u guys put 10k in singlife and the rest in cimb fastsavers or everything to singlife?

SingLife is relatively new so not sure how long it will last. My strategy now is to put excess to SingLife.

 

[gazar1]

CIMB unless you already max out that.

CIMB which account?

I am sorry I not financial savvy, hope you can tell me because I am overage for the fastclimber.

 

[gazar1]

HSBC used to have an endowment plan even better I realised.

2.5% guaranteed over 3 years.

 

[testingabc]

CIMB which account?

I am sorry I not financial savvy, hope you can tell me because I am overage for the fastclimber.

CIMB Fastsaver, fuss free and no minimum balance. No criteria except at least $1K to get interest, pm me if interested for referral

 

[gazar1]

CIMB Fastsaver, fuss free and no minimum balance. No criteria except at least $1K to get interest, pm me if interested for referral

But there’s a age limit right?

 

[testingabc]

But there’s a age limit right?

i don't think there is an age limit, just that if you are below 21 years old and want to withdraw needs parent consent

 

[iphone88]

CIMB Fastsaver, fuss free and no minimum balance. No criteria except at least $1K to get interest, pm me if interested for referral

1% for first $50k?

 

[testingabc]

1% for first $50k?

Yes you are right, fuss free. If got 100K is 1.325% currently

 

[gazar1]

Yes you are right, fuss free. If got 100K is 1.325% currently

Like that why don’t put FD May bank better?

Got 2.05% right?

 

[Shutterfly]

Like that why don’t put FD May bank better?

Got 2.05% right?

Cannot compare it this way. You can take out money anytime you want for FastSaver whenever there is a better investment opportunities.