Singlife Account to Reduce Interest Rate to 1.5% per Annum From 29 January 2021 - Save, Spend, Earn Campaign to Be Extended Until 30 June 2021

With effect from 29 January 2021, Singlife will be adjusting the crediting rate on the Singlife Account from 2.0% to 1.5% p.a. for the first S$10,000. The "Save, Spend, Earn" campaign for 0.5% p.a. bonus return rates will be extended until 30 June 2021 so customers can still earn up to 2.0% p.a. for the first S$10,000 if they meet the spend requirements.

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Photo Credit: Singlife

Crediting rates on the Singlife Account are subject to market conditions and the adjusted rate remains competitive in the market while offering flexibility with no lock-ins or withdrawal fees for customers. As some of you may remember, the bonus interest on the Singlife Account has been reduced from 2.5% p.a. to 2.0% p.a. on 01 November 2020. Existing Singlife Account customers can find more ways to unlock the potential of their money through Singlife’s new offering, Grow, within the Singlife App. Grow is an Investment-Linked Policy (ILP) with portfolios managed by Aberdeen Standard Investments. Now, customers can manage, save, invest, and be protected through a single app.

Apart from the upcoming change to the bonus crediting rate, there will be no change to 1.0% p.a. return for the next S$90,000. Customers will be able to take advantage of the “Save, Spend, Earn” campaign which will allow them to earn a bonus return of 0.5% p.a. on the first S$10,000 if they spend S$500 per month on their Singlife Card.