Singlife Account

[reddevil0728]

It's ok lah if they wanna close it.

Recent notification promoting 12 months deposit for so so little interest. Totally no sincerity. Also the 20k/day transfer out is an issue.

Cannot be too myopic if not next time regret

 

[ekardo]

Just withdrew the 100.85 two days ago and removed the app icon from home screen. Almost wanted to terminate the account already.

need minimal $100 ?

 

[PC-User]

need minimal $100 ?

No minimum balance required but need 100 or above for interest.

 

[ekardo]

No minimum balance required but need 100 or above for interest.

ok, $0.125 per month for $100...hahaa

 

[reddevil0728]

No minimum balance required but need 100 or above for interest.

I thought for Singlife got min to maintain

it’s another product I think dash? Then need min for interest

 

[crystalnox]

No minimum balance required but need 100 or above for interest.

Check out page 6 point 6 of the T&C.

https://singlife.com/content/dam/pu...nglife-account-terms-and-conditions-oct22.pdf

 

[PC-User]

I thought for Singlife got min to maintain

it’s another product I think dash? Then need min for interest

"Start earning with a minimum of S$100. Capital guaranteed with no hidden fees or charges."

"The minimum account value is S$100. There will be no returns or benefits with your Singlife Account policy if this value falls below S$100."

The above quoted from Singlife. Actually mean how?? Minimum of 100 required or not required?

 

[PC-User]

Check out page 6 point 6 of the T&C.

Oh so...

If Your daily Account Value is below the minimum Account Value for a continuous sixty (60) days, You will be allowed a grace period of sixty (60) days to top up to the minimum Account Value. We reserve the right to terminate Your Policy if You did not make the payment by the end of the grace period.

So put in 100 every 119 days for one night if want to keep the account. Anyway who cares?

 

[ekardo]

I only keeping my interest earned in singlife now..

all in into my RHB now..

 

[reddevil0728]

Oh so...

If Your daily Account Value is below the minimum Account Value for a continuous sixty (60) days, You will be allowed a grace period of sixty (60) days to top up to the minimum Account Value. We reserve the right to terminate Your Policy if You did not make the payment by the end of the grace period.

So put in 100 every 119 days for one night if want to keep the account. Anyway who cares?

Ppl who aren’t myopic might care. Cause in future imagine they are better but you cannot reopen. Then u will look back and regret

I only keeping my interest earned in singlife now..

all in into my RHB now..

Only interest so less than 100?

 

[ekardo]

Only interest so less than 100?

I started using since day 1...so quite a few hundred.

 

[reddevil0728]

I started using since day 1...so quite a few hundred.

oh why don't just withdraw the interest then?

 

[PC-User]

Ppl who aren’t myopic might care. Cause in future imagine they are better but you cannot reopen. Then u will look back and regret

Yeah some can consider keeping 100 to preserve the account. But I doubt Singlife's initial hype will ever happen again. I also anticipate I'll be requiring lesser and lesser accounts in coming years. So if one less it's no big deal.

 

[reddevil0728]

Yeah some can consider keeping 100 to preserve the account. But I doubt Singlife's initial hype will ever happen again. I also anticipate I'll be requiring lesser and lesser accounts in coming years. So if one less it's no big deal.

Yep so long you consider that and not regret all is cool

 

[tiertime]

They say may not able to reopen account after terminate,

BUT personally i think ... chances are... they may give Rewards for new signups again after terminate 6 mth to 1 year

Up to you ... you want to trust what they say (unable to reopen after terminate) or what you have personally experienced Previously with all the other banks/ financial/ insurance companies

 

[Cumzilla]

Just to clarify, for the 0.5% card interest, it will only be credited the following month correct? eg. spend $500 in January, credit in 01 March.

 

[tesarise]

Just to clarify, for the 0.5% card interest, it will only be credited the following month correct? eg. spend $500 in January, credit in 01 March.

next statement month. may not be 1st

 

[Cumzilla]

next statement month. may not be 1st

I was credited only $0.07 interest on 1st February for my card spend in December (>$500), even though I had more than 10K in my account. The thing is I withdraw my fund out after 10pm on 31st December, so will that affect the interest credited? I checked with their CS, seemed like they don't know their product well, kept insisting it is because of my low balance in January, when I did not even made a single card transaction that month, and then told me the December's card spend interest was credited on 1st Jan.

 

[zeroX26]

I was credited only $0.07 interest on 1st February for my card spend in December (>$500), even though I had more than 10K in my account. The thing is I withdraw my fund out after 10pm on 31st December, so will that affect the interest credited? I checked with their CS, seemed like they don't know their product well, kept insisting it is because of my low balance in January, when I did not even made a single card transaction that month, and then told me the December's card spend interest was credited on 1st Jan.

Sounds correct. If you get your interest on 1st Feb, means your statement cycle is 1st to 1st. Dec spending will surface on 1st Jan and how much you get depends on when in Dec u spent the $500 too.

 

[Cumzilla]

Sounds correct. If you get your interest on 1st Feb, means your statement cycle is 1st to 1st. Dec spending will surface on 1st Jan and how much you get depends on when in Dec u spent the $500 too.

Actually I don't understand what u saying, do u mean the interest credited is correct because of the statement cycle? Then I wonder where is my October 2022's card spend interest when I started spending $500 that month. No interest was credited on 1st Nov. I spent $500 again in Nov, $4.09 interest credited on 1st December, spent $500 again in December and withdrew fund on 31st December night, $4.09 credited on 1st January. No spending at all in January, $0.7 interest credited on 1st February.