Singlife Account

[tesarise]

Just to offer my 2 cents worth, I think Singlife was leaving money on the table (for them) when their rate was at 2% since it was the no-contest highest rate for a completely liquid account without withdrawal penalty if need a place to park 10k.

Adjusting down to 1.5% now brings it more in line with other similar insurance savings plan. Now you need to make a decision if you want to chase higher interest in Dash or Gigantiq by sacrificing a very slight amount of liquidity and flexibility due to their withdrawal fees.

 

[qingyong]

Wah lan eh... what make u think singlife drop, the others won't follow? Its normal lah, just like your bank interest.

 

[reddevil0728]

Wah lan eh... what make u think singlife drop, the others won't follow? Its normal lah, just like your bank interest.

isn't it more like because others drop that's why singlife follow?

 

[qingyong]

Yep. I mean for those who are thinking to move to dash or syte etc.

isn't it more like because others drop that's why singlife follow?

 

[demoforce1]

Yep. I mean for those who are thinking to move to dash or syte etc.

dash or syfe is a completely different product

 

[saintgtril]

Those who haven't open the Dash one, better faster do so!

Hi addict951, why is this so? Please advise. Thanks!

 

[reddevil0728]

Hi addict951, why is this so? Please advise. Thanks!

Because Singlife drop dash may follow.

So open ASAP to lock in the rate since dash rate is fixed

 

[kram62]

Because Singlife drop dash may follow.

So open ASAP to lock in the rate since dash rate is fixed

Is fixed for 1 year, just to clarify


Quoting from their website :

Guaranteed at 1.5% p.a. + 0.3% p.a. bonus for the first policy year

Also 0.3% is named "bonus" and might not be guaranteed? Wording is a bit ambiguous.

 

[reddevil0728]

Is fixed for 1 year, just to clarify


Quoting from their website :


Also 0.3% is named "bonus" and might not be guaranteed? Wording is a bit ambiguous.

yep 1 year.

 

[Opps-gal]

What is causing all the rates to drop at one go?

 

[reddevil0728]

What is causing all the rates to drop at one go?

All at one go meh?

 

[tesarise]

What is causing all the rates to drop at one go?

if your competitors increase price (or decrease interest), of course you also follow to increase price (decrease interest). as long as still cheaper (higher interest) than competitors can already

 

[cassowary18]

What is causing all the rates to drop at one go?

Fed reserve interest rate close to 0

 

[LeCruizer7]

Hope it doesn't drop anymore.

 

[reddevil0728]

Hope it doesn't drop anymore.

That depends on the competitors.

Pretty sure they wouldn’t be the first mover for such stuff.

 

[dappermen]

it initially started with 2.5% by the way

Hope it doesn't drop anymore.

I m dead sure it will!!! maybe 2 mths down the road : to 1.25%

 

[cassowary18]

If it drops in the future, then it drops. Why worry about something that haven't happened yet. Not as if your money inside isn't liquid. Just withdraw and put your money elsewhere.

Make hay while the sun shines.

 

[dappermen]

so long u r "$-conscious" and Every cents count in this covid period

i disagree with some remarked that why r we fussing ov a 0.5% point drop only? (for me i predict that it will drop again in a few mths time, hence move now)

see how he surveyed his followers and how he view it : https://www.youtube.com/watch?v=hGLr4SeQSIM
his decision to shift to some of the options are exactly wht i m thinking too!!!

 

[cassowary18]

i disagree with some remarked that why r we fussing ov a 0.5% point drop only? (for me i predict that it will drop again in a few mths time, hence move now)

see how he surveyed his followers and how he view it : https://www.youtube.com/watch?v=hGLr4SeQSIM
his decision to shift to some of the options are exactly wht i m thinking too!!!

It's your money. Not up to me to dictate what you do with it.

For me, even the 1% interest rate for deposit amount above $10K is still considered high, as my DBS Multiplier only gives me 0.80% pa.

 

[reddevil0728]

i disagree with some remarked that why r we fussing ov a 0.5% point drop only? (for me i predict that it will drop again in a few mths time, hence move now)

see how he surveyed his followers and how he view it : https://www.youtube.com/watch?v=hGLr4SeQSIM
his decision to shift to some of the options are exactly wht i m thinking too!!!

the problem is shift where?

Got somewhere that is offering higher than 1.5%? With the same level of flexibility as Singlife without much strings attached? If yes pls share