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 2021. There will be no change in the crediting rate of 1% p.a. for the next S$90,000. However, the good news is that you can keep earning bonus return of 0.5% p.a. under the Save, Spend, Earn Campaign, which has been extended to 30 June 2021. Find out more here.
We wanted to live in a world which allows us to do all we need and more with our money. And so we built one app with an ecosystem to help you save, spend, earn and be insured.
Our Save, Spend, Earn Campaign helps us bring this to you. Earn more, save more and be insured as you spend on your Singlife Card.
*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.
Just as you spend the energy kneading the dough before you can enjoy your loaf, you would need to spend S$500 over a specified card spend period to qualify for the bonus return.
Just as you watch your dough slowly rise, this is the time when you watch your return accumulating daily in the following month.
Just as you can finally enjoy your baked bread, you can finally see your accumulated bonus return credited into your Singlife Account.
Just as there are 3 phases to making bread
This is your spending period.
As this campaign starts from 1 Nov 2020, this means your first card spend period begins from 1 Nov 2020 to the last day of your current policy month.
Your subsequent card spend periods last between the first day to the last day of the same policy month (see illustration below). Your final card spend period ends when the campaign ends on 28 Feb 2021.
Within each card spend period, you need to spend at least S$500 on your Singlife Visa Debit Card in order to qualify for the bonus return.
Your bonus return earning period begins on the first day of your following policy month, right after your spending period and lasts till the last day of that policy month.
During this period, if you qualify, you will earn 0.5% p.a. bonus return for the first S$10,000 in your Singlife Account on top of your base return of 2% p.a.
After accumulating your bonus return over one policy month during the previous earning period, your bonus return will be credited into your Singlife Account. The day this happens is called your “crediting date.” This is when you enjoy your sourdough.
Just keep spending at least S$500 per Card Spend Period from 1 November 2020 till 28 February 2021, and keep enjoying up to 2.5% p.a. return month on month.
2.5% p.a. is derived from 2% p.a. base return + 0.5% p.a. bonus return, and applies to the first S$10,000 in your Singlife Account.
Enter your policy start date here
Your policy start date is:
*Terms & conditions apply, find out more.
First, head onto the Home screen of the Singlife app, and tap on the menu bar on the top left-hand corner. Tap on the “Order Card” option and confirm the address that your card is being sent to. After being directed to the next page, tap on “Proceed”. Your card should arrive in 9-12 business days at your selected address.
You may find the step by step illustration here: https://faq.singlife.com/articles/Knowledge/how-do-I-order-my-card.
*Remember to activate your card upon receiving it!
There will be expected minor delays in card delivery during this Safe Reopening period. We seek your understanding as we work to ensure your card is successfully delivered.
Firstly, the Singlife card is a Visa Debit Card, not a credit card.
Secondly, the amount you receive from cashback is tied to your spending amount. Say a user spends S$500, and they are entitled to 0.5% cashback, that will be 0.5% x S$500 = S$2.50 cash back.
By contrast, although the qualification of the bonus return is tied to a minimum spend within a specific card spend period, the amount received from bonus return of 0.5% p.a. is tied to your Singlife Account value. Say a user spends S$500 and qualifies for the bonus returns, he will get 0.5% p.a. return on his Singlife Account value, so it’s actually (0.5% p.a. x S$10,000) which amounts to more than S$4 a month on the same S$500 spend.
Crediting of earned returns will happen on the following day (e.g. policy start date was 31st August 2020, so crediting date in September will fall on 1st October).
No, the minimum qualifying spend of S$500 has to be achieved within a specific card spend period in order to earn the bonus return for a period of one month. The spending in one card spend period has no bearing on any other card spend period.
Yes, card spend periods are independent of one another, you can choose to fulfill the spend criteria of minimum S$500 in any card spend period and you will then earn the bonus return for a period of one month after that card spend period.