Singlife Crediting Rate Cut

Source: Singlife Website

Alas, Singlife has finally done the expected by cutting credit rate on its savings account, from 2.5% to 2% for the first $10000. In order to earn the 0.5% "lost" amount, one would have to clock monthly spend of $500 via the Singlife credit card.

Well, good deals never last and in my case, I have enjoyed the benefit for 6 months. In the beginning, I wondered how they would be able to pay such good crediting rate and surely unsustainable in the long run. From the email received, another amusing fact is only 180000 people have used the app (I assume that means as many accounts opened). That's a figure way below than what I thought it should be. Still, I intend to keep since there's not much better alternatives in this low interest rate environment. But I suspect even this would not survive the next review. Fingers crossed!

Tip: Regular Chrysanthemum Tea