Singlife Account

[kram62]

The catch is first 10K sign ups and only up to $10K.

And also the 2.5% not guaranteed long term. They can decide to change terms and conditions in the future. But not an issue short term since they'll have to announce it at least a month in advance most likely, and can withdraw anytime, no lock in.

 

[kram62]

some replies back in this thread suggests to put $9777, some suggests to put $10000. what is the ideal amount?

9777 is to make all the money in the account work at 2.5 percent (including the monthly compounded interest) but it assumes we'll enjoy the current terms and conditions over many years.
Personnally, I choose to put 10k to make things easier, can withdraw the interest above 10k to make it work elsewhere.

 

[Daffy7]

9777 is to make all the money in the account work at 2.5 percent (including the monthly compounded interest) but it assumes we'll enjoy the current terms and conditions over many years.
Personnally, I choose to put 10k to make things easier, can withdraw the interest above 10k to make it work elsewhere.

is there a min withdrawal ?

 

[weiming41]

is there a min withdrawal ?

No, minimum.

 

[weiming41]

Anyone knows if the first 20k customers hit alr? Still got chance?

Have not hit. Just opened 2nd account today.

 

[ment0smintz]

Have not hit. Just opened 2nd account today.

How to open second account??

 

[rerear]

any use for the card? what to put on the second row?

 

[cassowary18]

any use for the card? what to put on the second row?

First row your first name
Second row your surname

Can swap around too if your name follow Chinese naming conventions like Tan Ah Kow.

As for the use, it's not that great. I guess if you want the unemployment insurance you could put your spending on it, but then you miss out on cashback or miles you would otherwise get with other credit and debit cards. You could also use it as a foreign currency spending card like YouTrip since apparently there's no foreign exchange fees.

 

[innumerabilis]

When does the interest come in? I opened my account and made my first deposit on 26 April 2020, and I can see the accumulated interest thus far, but the interest hasn't been deposited into my account yet.

 

[DenOOO]

any use for the card? what to put on the second row?

Can be any name you wish to put from your full name, just that normal card places it all in 1 line but singlife does it in 2 lines instead.

 

[DenOOO]

When does the interest come in? I opened my account and made my first deposit on 26 April 2020, and I can see the accumulated interest thus far, but the interest hasn't been deposited into my account yet.

Interest will be credited monthly following your account opening.

Probably 26 May for yours.

 

[silverbomb]

any use for the card? what to put on the second row?

I have the account but did not bother getting the card as I know i have better cards to use to spend. And also to have 1 less card to keep in drawer.

Unless u can predict that u are getting unemployed soon then use this card, or you're basically not using any existing credit/debit card from your banks then u use this to safeguard yourself to benefit from the unemployment benefits

 

[feigningfancy]

Thanks bro will call them later

Don't think anyone here would know esp the singlife cs are banned from replying here now. U can call them direct
Their number 6911 1111

Below cut and paste from their email reply to me..
Call or WhatsApp us
+65 6911 1111 or Click to chat
Monday - Fridays, 9:30am to 5:30pm
(Excluding public holidays)

 

[TiedInsurer]

I put in $10k a month ago. They paid out interest at 2.5%, exactly 1 mth later. And i was able to withdraw the $20+ interest into my chosen bank account, instantaneously.

My greatest reservation about this thing was that withdrawal may be difficult or take a long time, but that didn't happen. This is good stuff.

 

[eD|t|0n]

You can withdraw money either by spending on the debit card, or by doing a withdrawal from within the app to your own bank account. The transfer is same day - typically within 30 minutes. Thanks.

Any cap amount if the withdrawal per day or per time?

 

[eD|t|0n]

I would like to post a question on the SDIC POPS. Can someone explain in layman ang mor, what will happen to say my 10k inside if Singlife bankruptcy and run away? If Singlife sold out this plan to another insurer who is taking over?

Is my 10k guaranteed protected?

 

[Conor McGregor]

When does the interest come in? I opened my account and made my first deposit on 26 April 2020, and I can see the accumulated interest thus far, but the interest hasn't been deposited into my account yet.

1 month from your account opening date

 

[peppermint7]

I would like to post a question on the SDIC POPS. Can someone explain in layman ang mor, what will happen to say my 10k inside if Singlife bankruptcy and run away? If Singlife sold out this plan to another insurer who is taking over?

Is my 10k guaranteed protected?

Until now no one knows. Some say yes. Some say no

 

[eD|t|0n]

Until now no one knows. Some say yes. Some say no

Fair answer. I got the errr feeling when I go SDIC see their wordings. So how is this different from the deposit insurance scheme? why it is not covered under deposit insurance which is more straight forward? Deposit amount up to $75k Wen Wen Jiak Bee Hoon.....

On the underlying portion, perhaps this product is termed/classified as an endowment/insurance product therefore cannot go under the deposit scheme.

 

[compro_1975]

so no idea if the 10k pax met?