The Singlife Account is neither a bank savings account nor fixed deposit. It is a capital guaranteed insurance savings plan that gives up to 2.5% p.a.* returns.
*Note that returns are not guaranteed and each person is only entitled to one Singlife Account policy.
As the Singlife Account is an insurance savings plan, your Singlife Account policy provides life insurance coverage of up to 105% of your Singlife Account value and retrenchment benefits.
S$500 is all you need to apply for a Singlife Account policy and start enjoying up to 2.5% p.a. returns on your savings.
No kidding, it’s that simple.
YES. Easily apply for it on the Singlife App and have it delivered to your home. Oh, and did we mention – our card even helps you save while you spend.
No FX fees.
No annual fees.
You have access to your money anytime, anywhere- right through our mobile app. Withdraw your money almost instantly via Fast and Secure Transfers (FAST) in your Singlife App, with no fees at all.
Valid question.
But fear not! Singapore Life Pte. Ltd. (Singlife) is a direct life insurer licensed by the Monetary Authority of Singapore (MAS). Furthermore all Singlife policies, including the Singlife Account are protected up to specified limits by the Singapore Deposit Insurance Corporation (SDIC).
It’s really simple, you don’t even have to get off your couch.
Go to App Store / Google Play
Download the Singlife App
Sign up for a Singlife Account policy
A few minutes is all it takes to apply for
a Singlife Account policy
Note that the Singlife Account is an insurance savings plan. It is neither a bank savings account nor fixed deposit. Each person is only entitled to one Singlife Account policy.
Capital guaranteed with no hidden fees or charges.
Start earning with a minimum of S$500. No gimmicks, just pure savings.
You get life insurance coverage of up to 105% of your account value and retrenchment benefits.
Indulge in your retail therapy with our complimentary Singlife Visa Debit Card.
You can withdraw your money anytime via FAST with no costs and no minimum term required.
Just download the app and sign up – a few minutes is all it takes.
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.
You get:
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:
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.
You can sign up via the Singlife App.
Download your Singlife App here
Google Play Store: https://play.google.com/store/apps/details?id=com.singlife.mobile&hl=en&utm_source=website&utm_medium=faq&utm_campaign=sg_manage_website&utm_content=android
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.
