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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