Singlife
Updated Oct 2020
Singlife is an Insurance Saving Plan integrated into a mobile App, which enable the Users to top up or withdraw funds without any lock in charges.
The Account offer up to 2.5% ( non guarantee Interest ) , with a low Entry Fund of S$500 to activate the Singlife Account policy.
Beside offering high interest savings. Singlife Account policy also include Life Insurance Coverage, retrenchment benefit, Singlife card which allows you to spend at visa merchant worldwide.
Singlife Details
| Features | Before 1 NOV 2020 | After 1 NOV 2020 |
| Who Can Sign Up | Users with valid Sing Pass | |
| Minimum Balance | S$100 | |
| Minimum Account Activation Fund | S$500 | |
| Interest Rate (Non Guranteed ) | Up to 2.5%p.a For first S$10k | Up to 2.0%p.a For first S$10k |
| Up to 1.0% for next S$90k | ||
| 0% for $$ >S$100k | ||
| Save/ Spend/ Earn/ Campaign | Extra Bonus Interest 0.5% Spend S$500 per month On SingLife card From 1 Nov2020 to 28Feb 2021 | |
| Life Insurance Coverage For Death | 105% of your Account Value | |
| Retrenchment Benefit Based on Card Spending | Based on Average Card spending benefit for a period 3 months up to total payout S$10,000 ,(You have been Retrench at least 4 months)Coverage limited to 1 year start of Single Life Account Policy | |
| Fees to Maintain Singlife Account | no Fees , ( to continue Enjoy Singlife account Policy , User need to maintain minimum balance of S$100 |
|
| Fund Protection | Cover Under PPF Scheme.According to SDIC the Deposit amount insured has a guranteed surrender value capped at S$100K at the point of failure | |
| International Merchant FX Fee | No | |
| Singlife Visa Debit Card Annual Fee | No | |
| Referral Program | The User Click on your Referral Link & successfully activated (“Singlife Card”) Both link referral owner & New User will earn a top up S$10 Commision into their respective Singlife accounts | |
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