It was always a matter of when and not if, and we now have an answer: from 1st November 2020, Singlife will reduce the handsome 2.5% p.a. rate it’s been giving to a less impressive 2% p.a. on the first $10,000 of the account. The remaining $90,000 in the account continues to receive 1% p.a. which remains unchanged. While a 20% drop in interest stings somewhat, the quantum of $10,000 was always a little low to begin with. Previously, 2.5% pa on $10,000 would generate about $20.83 in interest per month. It will now be around $16.67. Spend and earn? In tandem with the change, Singlife is also allowing policyholders to continue earning 2.5% pa on the first $10,000 by spending at least $500 on the Singlife Visa Debit Card, and this too will start on the 1st November. While getting an extra 0.5% pa interest is...