Introducing the Singlife Account ™

An Insurance Savings Plan with No Lock-In or Fees

Saving with the Singlife Account is super simple. No fees payable. No regular top-ups required. No strings attached. Just S$500 to start earning up to 2.5% p.a. returns.

Returns
Account Value
2.5% p.a.
1% p.a.
0% p.a.
Complimentary Singlife Card

Spend with the Singlife Debit Card worldwide,

with no FX fees, zero annual fees
Complimentary Singlife Card

Spend with the Singlife Debit Card worldwide,

with no FX fees, zero annual fees
How It Works

A Smarter, Simpler Way to Manage Your Savings

The Singlife Account is an insurance savings plan that gives full access to your money through the Singlife App and Singlife Visa Debit Card. We are neither a bank account nor fixed deposit.

Fund your Singlife Account and withdraw your money at no cost

Instant notifications when you spend

Singlife App - Instant Notification

Secured app with biometric and 2FA log-in

Fund your Singlife Account and withdraw your money at no cost

Instant notifications when you spend

Secured app with biometric and 2FA log-in

Singlife App - Instant Notification
Insurance Benefits

You Deserve to be Protected

Every Singlife Account also provides financial protection in case of unfortunate events in life.

Life Insurance Coverage

In the event of your death, up to 105% of your account value will be paid to your loved ones.

Life Insurance Coverage

In the event of death…

Payout

S$10,500

* For ages under 61

Every Singlife Account provides a yearly renewable insurance coverage for death or terminal illness, up to 105% of your account value.

Refer to the Terms and Conditions for more information.

Retrenchment Coverage

If you are retrenched, you receive a payout up to S$10,000 over 3 months. Limited time offer.

Retrenchment Benefit

limited time offer

How it Works

If you are retrenched and remain unemployed for at least four months, Singlife will pay you a retrenchment benefit for a period of three months.

The retrenchment benefit is your average monthly card transaction values made over the past six months immediately before the date of retrenchment.

Terms and Conditions

The total retrenchment benefit payable over three months is capped at S$10,000.

This benefit will not be payable if you are retrenched within the first six months of your policy start date, or your severance package is more then three months of your monthly salary.

Refer to the Terms and Conditions for more information.

Protected and Licensed

A Financial Institution You Can Trust

Savings in your Singlife Account are protected.

Protected by SDIC

Singlife Account is protected up to specified limits by the Singapore Deposit Insurance Corporation.

Protected by SDIC

Policy Owners’ Protection Scheme

Singapore Life Pte. Ltd. (Singlife) is a registered member of the Policy Owners’ Protection (PPF) Scheme. The PPF Scheme protects policy owners in the event a life or general insurer which is a PPF Schema member fails.

The PPF Scheme Provider 100% Protection for the guaranteed benefits of your life insurance policies up to the applicable caps. Coverage for your policy is automatic and no further action is required from you.

PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC).

Licensed by MAS

Singapore Life Pte. Ltd. (Singlife) is a direct life insurer licensed by the Monetary Authority of Singapore (MAS).

Licensed by MAS

Singapore Life Pte. Ltd. (Singlife), UEN 201405619W, is a direct life insurer licensed by the Monetary Authority of Singapore (MAS).

Learn more about Singlife at our About Us page or at MAS’s website.

Learn More About Singlife Account
Sign Up Today

Within minutes

Is all it takes to apply for a Singlife Account.

S$500

To kickstart your savings with
2.5% p.a. returns.

9 – 12 business days

To receive your Singlife Visa Debit Card to your registered mailing address.

Commonly Asked Questions

Singlife Account is an insurance savings plan that credits interest and offers flexibility to make top ups and withdrawals with no lock in and charges. The Singlife account provides insurance coverage to policyholders in the event of death and terminal illness. It is neither a bank savings account nor a fixed deposit.

  • A life insurance cover for death or terminal illness, up to 105% of your account value.
  • Your account value earns interest.
  • An optional Singlife Visa Debit Card (“Singlife Card”) that allow you to spend at Visa merchants worldwide.
  • You get real-time access to all transactions made in your Singlife Account through the Singlife App.

You get:

  • 2.5% p.a. for your first S$10,000
  • 1% p.a. for your next S$90,000
  • 0% p.a. for account value above S$100,000
  • Interest is calculated daily and credited to your account value on a monthly basis.
  • The interest on your Singlife Account policy will be credited on the first day of the following policy month.
  • Please note that returns are not guaranteed.

No, all you need to do is to fund S$500 to activate your Singlife Account policy. You can then start earning the returns.

To continue enjoying the benefits of the Singlife Account policy once you have activated it, you would need to maintain a minimum account value of S$100.

No, you are only allowed to open one(1) Singlife Account policy.

No. The Singlife Account will be in Singapore Dollar (SGD). However, for overseas transactions via the Singlife Card, you have the option to pay in Singapore Dollar or in foreign currency at the point of sale.

You need to maintain a minimum account value of S$100. There are no returns or benefits to your Singlife Account policy if the account value falls below S$100.

The Singlife Account is protected up to specified limits by the Singapore Deposit Insurance Corporation.

Singapore Life Pte. Ltd. (Singlife) is a registered member of the Policy Owner’s Protection Scheme. The PPF Scheme protects policy owners in the event a life or general insurer which is a PPF Schema member fails.

The PPF Scheme provides 100% protection for the guaranteed benefits of your life insurance policies up to the applicable caps. Coverage for your policy is automatic and no further action is required from you.

The PPF Scheme is administered by the Singapore Deposit Insurance Corporation (SDIC). To find out more, click here.

No. You can use Fast and Secure Transfers (“FAST”) to transfer the funds to your designated personal bank account(s) almost instantly.

No, we are actively working on this and shall notify you once it is ready for use.

If you make overseas transactions and choose to pay in foreign currencies, the Singlife Card offers Visa’s competitive exchange rate with no FX fees or charges.

However, if you choose to pay in Singapore Dollars (SGD) for overseas transactions, transactions will be converted to Singapore Dollar via dynamic currency conversion, which is a service offered at selected merchants or websites.

This process of conversion and exchange rates applied are determined by the relevant merchant or dynamic currency conversion service provider.

Yes. You can spend the Singlife Visa Debit Card anywhere that accepts Visa. Spend it overseas with no FX fees or charges.

You can see your transactions, lock and unlock your Singlife Card all through the Singlife App.

Through the Singlife App after you have signed up for a Singlife Account.

If you want a more detailed step-by-step, please click here.

You get:

  • 2.5% p.a. for your first S$10,000
  • 1% p.a. for your next S$90,000
  • 0% p.a. for account value above S$100,000
  • Interest is calculated daily and credited to your account value on a monthly basis.
  • The interest on your Singlife Account policy will be credited on the first day of the following policy month.
  • Please note that returns are not guaranteed.

You will get a universal life insurance which provides you death or terminal illness benefit of up to 105% of your account value.

Please refer to the policy’s Terms & Conditions for more information.

You will receive the retrenchment benefit for a period of three (3) months, up to a total payout of S$10,000, provided you have been retrenched and remain unemployed for at least four (4) months following the date of retrenchment.

The coverage is limited to 1 year from the start of your Singlife Account policy.

For more information on claims eligibility and exclusions, you may refer to the Terms & Conditions of Retrenchment Benefit Rider.

The Singlife Account is available for Singapore residents who are Singapore citizens, Singapore Permanent Residents or foreigners holding valid passes.

In addition, you must be between the age of 18 and 75 years of age to qualify.

– Your valid NRIC / FIN
– Address proof (Singapore Residents holding FIN)

The identity documents are required for verification purposes.

However, if you use MyInfo during your Singlife Account application, you are not required to upload identity documents.

The Singlife ID is a unique identifier we created for the purpose of online application.

The Singlife Account is an insurance savings plan that credits interest and offers flexibility to make top-ups and withdrawals with no lock-in and charges.

You can use Fast and Secure Transfers (“FAST”) from your designated personal bank account(s) to fund your Singlife Account. This can be done via your Singlife App.

You can fund your Singlife Account any time after you have successfully completed the set-up.

Funds will be transferred instantly.

Use Fast and Secure Transfers (“FAST”) to your designated personal bank account(s) anytime.

Withdrawals can be made instantly through Fast and Secure Transfers (“FAST”).

Please note that withdrawn money may only be reflected in your designated bank account up to 3 hours later.

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Important Notes

  • The information on this page is meant for your general knowledge and does not regard any specific investment objectives, financial situations or particular needs any person might have.
  • Before making a commitment to purchase this product, you should consider whether the product is suitable for you by referring to the product summary, terms and conditions and FAQs.
  • Alternatively, you may wish to seek advice from our third-party financial advisers. Tell us what you’re looking for and one of our representatives will reach out to you.
  • This policy is protected under the Policy Owners’ Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme, as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association or Singapore Deposit Insurance Corporation Limited (SDIC).
  • Information is correct as at 11 November 2019.
  • This advertisement has not been reviewed by the Monetary Authority of Singapore.