The insurance savings plan that earns up to 1.5% p.a. returns.
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.
Note that all new sign-ups for the Singlife Account will be put on waitlist.
After a successful release and a merger underway, this is a chance for us at Singlife to spend the time to relook, regroup and refresh the Singlife experience and offering.
This will not affect existing Singlife Account policyowners who can still access their Singlife Account via the app. and can continue earning return of 2.0% p.a. on their first S$10,000 and 1.0% p.a. on their next S$90,000.
Those who do not submit their Singlife Account application by 23:59 on 14 December 2020 will need to put their names on the waiting list to be notified of when the app reopens for new customers in 2021.
Additionally, crediting rates will be revised from 2.0% p.a. to 1.5% p.a. for the first S$10,000 starting from 29 Jan 2021.
To all customers: crediting rates on the first S$10,000 in your Singlife Account will be revised from 2.0%p.a. to 1.5% p.a. from 29 Jan 2020. There will be no change in the crediting rate of 1% p.a. for your next S$90,000. However, you can earn bonus return of 0.5% p.a. under the Save, Spend, Earn Campaign.
Enjoy 1.5% p.a. returns* on your first S$10,000.
Amounts above your first S$10,000 up to S$100,000 will earn 1% p.a. returns.
Amounts above S$100,000 will not earn any returns.
*Note that returns (crediting rates) are not guaranteed. 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.
on top of your 1.5% p.a. base return *as you spend on the Singlife Card from 1 Nov 2020 till 30 June 2021
S$150,000
Mary has S$150,000 in her Singlife Account.
S$10,000
Her first S$10, 000 will get a return of
1.5% p.a.
S$90,000
Her next S$90,000 will get a return of
1% p.a.
S$50,000
Her remaining account value of S$50,000 will not receive any returns.
0% p.a.
The amount earned will be calculated based on your daily account value and will be credited on the first day of the following policy month.
The returns (crediting rates) will be declared as annual rates and will be converted to daily rates on a compound basis assuming 365.25 days per year.
How are the returns calculated?
S$500 is all you need to apply for the Singlife Account to start earning returns on your savings.
You need to maintain a minimum account value of S$100. There are no returns to your Singlife Account policy if the account value falls below S$100.
Is there a minimum account value required?
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.
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:
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.
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.
You may refer to the Singlife Account Paid Referral Programme T&C’s here
Spend worldwide with the Singlife Visa Debit Card. Enjoy no FX fees and annual fees.
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.
NEWLY LAUNCHED!
