Singlife Account

[MrAppleCrumble]

Now is down meh

 

[tytyty333]

I wouldnt keep more than 10k with them. There are better ways to invest 90k.

How to invest 90k?

 

[reddevil0728]

Now is down meh

You got see when it was posted?

 

[reddevil0728]

I wouldnt keep more than 10k with them. There are better ways to invest 90k.

Technically putting 90k with Singlife ain’t an investment.

Cause unless Singlife collapse, the capital is in a way preserved

 

[twosix]

I wouldnt keep more than 10k with them. There are better ways to invest 90k.

this is for those with too much spare money. haha...

 

[testingabc]

I wouldnt keep more than 10k with them. There are better ways to invest 90k.

korkor teach me leh

 

[revhappy]

How to invest 90k?

A diversified corporate bond ETF like MBH has 2% yield to maturity. There might be short term losses, but if you hold it for like 1yr you will definitely make more than the 1% that you get in SingLife.

Singlife takes your money at 1% and then invests it for higher returns. So, if you believe corporate bond ETF will have losses, then even Singlife returning you 1% will not be sustainable.

 

[oceanicmanta]

reminder ... interest on first 10K is 2% wef today

withdrew excess today & funds was credited within 10 minutes

 

[maumu]

i'm always very confused when it comes to FAST transfer...

if I say FAST from Singlife to DBS will the fund be available today or tomorrow? i.e. is value date today (so can, say withdraw the cold cash from ATM)?

then if I FAST from DBS to another bank today, will the amount be recognised today, or tomorrow?

transactions on a weekend always give me headache lol

 

[reddevil0728]

reminder ... interest on first 10K is 2% wef today

withdrew excess today & funds was credited within 10 minutes

what excess?

 

[reddevil0728]

i'm always very confused when it comes to FAST transfer...

if I say FAST from Singlife to DBS will the fund be available today or tomorrow? i.e. is value date today (so can, say withdraw the cold cash from ATM)?

then if I FAST from DBS to another bank today, will the amount be recognised today, or tomorrow?

transactions on a weekend always give me headache lol

it depends on the time you transfer?

If you transfer at 2359, it will likely be tomorrow.

"FAST - FAST AND SECURE TRANSFERS
FAST (Fast And Secure Transfers) is a new electronic funds transfer service that enables customers of the participating banks to transfer Singapore Dollar funds from one bank to another in Singapore almost instantly."

https://www.abs.org.sg/consumer-banking/fast

The reason why transfer/withdrawal from SINGLIFE is not so instant because it isn't a bank account. if it is a bank account it should be instant.

 

[yiron]

A diversified corporate bond ETF like MBH has 2% yield to maturity. There might be short term losses, but if you hold it for like 1yr you will definitely make more than the 1% that you get in SingLife.

Singlife takes your money at 1% and then invests it for higher returns. So, if you believe corporate bond ETF will have losses, then even Singlife returning you 1% will not be sustainable.

Not comparable bro. One is a principal protected deposit like product that can be withdrawn anytime, while the other is a capital market security that is subject to market movements and liquidity conditions and takes a couple of days for withdrawal (not suitable as a day to day banking acct). Different risk reward.

 

[yiron]

reminder ... interest on first 10K is 2% wef today

withdrew excess today & funds was credited within 10 minutes

Anything above $10k is still 1% before and after 1 Nov - why withdraw leh?

 

[reddevil0728]

Not comparable bro. One is a principal protected deposit like product that can be withdrawn anytime, while the other is a capital market security that is subject to market movements and liquidity conditions and takes a couple of days for withdrawal (not suitable as a day to day banking acct). Different risk reward.

Singlife not a bank account. But yes capital is preserved as compare to bond ETFs

 

[yiron]

Singlife not a bank account. But yes capital is preserved as compare to bond ETFs

I didn't say Singlife is a bank acct. I said it's a deposit like product
What I said is that MBH is not suitable to function like a day to day banking acct. On the other hand, Singlife could fulfil that role, even if it is technically not a banking acct.

 

[oceanicmanta]

Anything above $10k is still 1% before and after 1 Nov - why withdraw leh?

gigantiq lor

 

[yiron]

gigantiq lor

Ah ok. That one i also parked liao, though too early and missed the $50 promo. Glad u got it

 

[Chopin]

My 10k+ disappear into thin air?

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[TsukiSG]

My 10k+ disappear into thin air?

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Same here.

They are down again.

 

[Chopin]

Same here.

They are down again.

Ok wait awhile ba, withdrawing halfway tell me insufficient balance

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