The interest rate are falling all over the world. And we have seen this cascade down to the interest rate we are receiving from banks. With DBS, Standard Chartered cutting down their savings interest rate, it it quite hard to believe that Singlife is able to provide 2.5% interest for their Insurance Savings Plan.
Went to their site to find out more and below are some info-graphics if you are interested to 'Insursave" with them. Some points to take note is that 2.5% interest rate is only for the first $10,000. Subsequent amount up to $100,000 is at 1% interest rate, which is still higher than most bank.There is no lock in Period. You can deposit and withdraw via FAST bank transfer. I can only see the withdrawal option via mobile phone App now. And yes, I have tried to deposit and withdraw from Singlife.The "Insursave" comes with retrenchment...