Singlife Account

[Spladox]

How to use referral? Pls pm thanks

 

[addict951]

How to use referral? Pls pm thanks

You want I give you

 

[JialatThisOne]

How to use referral? Pls pm thanks

PM you the steps to get max bonus cheers

 

[heng_ah]

I put 10,000.00 on day one.
After 31 days, the credited interest is only $20.95
Interest rate lesser than 2.5%?

Anyone knows how Singlife calculates the interest?

 

[SG-NATO]

I put 10,000.00 on day one.
After 31 days, the credited interest is only $20.95
Interest rate lesser than 2.5%?

Anyone knows how Singlife calculates the interest?

20.95 is 2.5% p.a which is correct

 

[heng_ah]

20.95 is 2.5% p.a which is correct

How can it be correct?

Unless my formula was wrong....
This year got 366 days.

$10,000.00 x 2.5% x 31 days / 366 days = $21.17

 

[reddevil0728]

How can it be correct?

Unless my formula was wrong....
This year got 366 days.

$10,000.00 x 2.5% x 31 days / 366 days = $21.17

Did you count the day you put in as day 1? If so u need to wait overnight for the extra day of interest

 

[limster]

How can it be correct?

Unless my formula was wrong....
This year got 366 days.

$10,000.00 x 2.5% x 31 days / 366 days = $21.17

$10,000 2.5% p.a. should mean that you get $10,250 after 1 year.

$20.95 interest credited every month for 12 months including monthly compounding is $251.70? [10000(1 + 0.002095)^12].

It will even out to $250 because July had 31 days and those months which have 30 days will have a little bit less interest.

 

[SG-NATO]

How can it be correct?

Unless my formula was wrong....
This year got 366 days.

$10,000.00 x 2.5% x 31 days / 366 days = $21.17

I will be happy to get $20.95. Anyway the return is not guranteed..enjoy while it still last.

 

[Scuderia]

Wonder how to do full surrender of this SingLife if I do not wish to continue. Transfer out every cent? Wonder that is possible.

 

[pinkoomori]

Wonder how to do full surrender of this SingLife if I do not wish to continue. Transfer out every cent? Wonder that is possible.

I don't think they allow full withdrawal from the account since that's akin to closing the account. What you can do is withdraw till there's $100 left (the lowest balance to keep the account active) then contact them that you'll like to close the account.

If they take a prolonged period to transfer you the funds after closing the account, at least it's just $100.

Also, they have a daily limit of $20,000 for withdrawals so for those who have a lot more than that, need to do so over a few days.

 

[TsukiSG]

Wonder how to do full surrender of this SingLife if I do not wish to continue. Transfer out every cent? Wonder that is possible.

Open Singlife app and login, click three lines at top-left corner, click 'account', click 'terminate'.

 

[Simplesthuman09]

Anyone experience last month interest was not clock in and reset to $0 for Aug?

 

[TiedInsurer]

Anyone experience last month interest was not clock in and reset to $0 for Aug?

Nope. I got credited Aug invoice, today. Withdrawn with no issues.

 

[greatgreenman]

I've only recently heard about this. So it's not a bank account, but some savings plan where you can deposit and withdraw money as if it were a bank account. What are the restrictions here? It also seems that "returns are no guaranteed". What does that even mean? Interest isn't guaranteed? Anyone able to advise?

 

[juxtaposition]

Same error as u.

Updated: it is working fine now

Anyone experience last month interest was not clock in and reset to $0 for Aug?

 

[TiedInsurer]

I've only recently heard about this. So it's not a bank account, but some savings plan where you can deposit and withdraw money as if it were a bank account. What are the restrictions here? It also seems that "returns are no guaranteed". What does that even mean? Interest isn't guaranteed? Anyone able to advise?

The main restriction is that deposits and withdrawals aren't instant. Right now, deposits take around 24hrs. Withdrawals take around 30mins to 4hrs. However, this can change. Their T&Cs notably do not include any solid timelines where they MUST give you your moolah within a certain set timing from you indicating your intent to withdraw.

Returns not guaranteed isn't something to be worried about. It just means that the interest given will be 2.5%, until it isn't. This is the same as how any bank high interest savings account operate. They give you a high interest, until they don't. The interest isn't locked in, and is subject to change as the financial institution sees fit.

 

[vddgnd]

Anyone experience last month interest was not clock in and reset to $0 for Aug?

Nope. I got credited Aug invoice, today. Withdrawn with no issues.

When is your monthly interest crediting date?

 

[TiedInsurer]

When is your monthly interest crediting date?

Mine is 3rd of every month.

 

[a4973]

Anyone experience last month interest was not clock in and reset to $0 for Aug?

Same error as u

do you mean that on your month-versary date, the interest $ (in small font) did not add on to your principal (the big font amount) then the interest $ (in small font) went back to $0.00?
thanks