Singapore : Singlife 2.5% p.a interest (2.0% p.a. starting 1 Nov 2020) - Best place to park $10,000

Updated : 10 Aug 2020

Let's cut story short !

MAIN TIPS :

Earn daily interest at 2.0% p.a. (no longer 2.5% p.a. starting 1 Nov 2020) No lock in period. No Fees. Capital guaranteed. Licensed by MAS. Protected by SDIC. No gimmicks, pure savings. The best and straight forward venue to park available fund at S$10,000.

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. Easy apply and manage with mobile application.

2.5% p.a. on S$10,000, 1% on subsequent S$90,000, Max S$100,000, amount above $100,000 earn zero interest. So, best park at S$10,000, max at S$100,000 if you have excess fund (which already has no option better than 1% interest out there). Interest calculated daily, credited monthly.

**Return no guaranteed (Have been receiving interest since started)

Min S$500 to start. Less than S$100 no interest (hearsay that now need S$500 to earn interest).

No lock in period, Transfer and withdraw via FAST anytime instantly, zero fees.

Singlife Visa Debit card

Spend with the complimentary Singlife Debit Card worldwide. Competitive FX rates, no FX fees, zero annual charges.

Insurance Benefits

Capital guaranteed. Licensed by MAS, protected by SDIC.

Complete & updated details, visit official site.

Side Tips :

If you have more than S$10,000, consider to open more Singlife accounts under family members and each park S$10,000 at individual account to maximize the interest earning.

Parking emergency fund in this account considering the FAST withdrawal almost instantaneous.