Joel Boh | Freelancer Past Work: Writing

Past Work: Writing

Financial News and Advice in Singapore SingSaver’s 11.11 Mega Rewards Promotion⁠ — Win $18,000 in cash November 13, 2019 | Posted by SingSaver Team | Credit Cards, Deals and Promotions, Insurance, Personal Loans , Shopping Tags: 11.11 Deals, Credit Cards, Deals and promotions, Personal Loans, Travel Insurance SingSaver’s 11.1 Mega Rewards is now over. Thank you for participating! But what’s next? If you participated: The list of 111 winners who qualify for the $300/$30/$200 cash prize will be announced by 29-February 2020 via this blog post. Bookmark this page for updates! You’ll also receive an email from SingSaver conﬁrming how and when to collect your cash prize: For Credit Cards and Personal Loans: Three (3) calendar months from card/loan approval date or redemption form submission date, whichever is later. Travel Insurance: Three (3) calendar months from the date of purchase or redemption form submission date, whichever is later. If you’re not part of the 111 winners, you’ll still receive SingSaver’s exclusive 11.11 rewards. In case you missed it, here are our terms and conditions, and FAQs. If you didn’t get a chance to participate: Simply head over to our site for the best deals on Credit Cards, Travel Insurance or Personal Loans and still be eligible to receive up to $200 cash! Alternatively, leave your email with us below and be the ﬁrst to be informed of exciting upcoming promotions and rewards! Read these next: Credit Cards: How to Choose Between a Cashback or Rewards Credit Card? Best Travel Insurance Promos and Discounts 10 Tips on How to Buy The Right Travel Insurance 4 Types of Personal Loans and What You Need to Know 3 Personal Loans with The Lowest Interest Rates 11.11 Singles Day Deals and Promotions in Singapore 2019 Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results Sitemap  JOIN US ON Financial News and Advice in Singapore Home Insurance: Why Is It Important and How Do You Compare The Best Plans? November 14, 2019 | Posted by SingSaver Team | Insurance Tags: Home Insurance A residential unit at Block 224, Ang Mo Kio Ave 1, ravaged by ﬁre. Source: SCDF You might be tempted to think that because Singapore is relatively robbery-free and sheltered from natural disasters like earthquakes and typhoons, you can save by scrimping on home insurance. All that depends on a couple of factors such as a) if you own the house you’re staying in, b) how much valuables you keep in the house and c) frankly, just how unlucky you can be. In July 2019 alone, at least three ﬁres – all linked to personal mobility devices (PMDs) – have led to death, injuries, and ravaged homes in heartland areas all across Singapore. In 2017, there were 49 ﬁres involving PMDs, according to stats released by the Singapore Civil Defence Force (SCDF) earlier this year. This number spiked by more than 50 per cent to 74 in 2018. In 2017 alone, there were 3,871 calls to the SCDF ﬁre department . Now, you might think, “Hey, I don’t own a PMD so no problem.” But do you know if your next door neighbour has one? What about your neighbour below or above your ﬂoor? The point is, you never know, so it is always better to be prepared. We’ve compiled some tips to help you decide if you should buy home insurance, as well as how to decide which is the best home insurance plan for you. Source: SCDF Factors to consider when purchasing home insurance Q1: Are you an owner-occupier, tenant, or landlord? Owner-occupier: If you currently reside in a place you own, you should seriously consider getting a home insurance plan which covers your belongings, renovations, payout for emergency interim accommodation, medical expenses or your precious pet. Next, you have to decide if you require an “Insured peril” or “All risks” policy. An “Insured peril” policy will cover your home against risks such as ﬁre, ﬂood, or housebreaking, while an “All risks” policy will oﬀer protection against a whole wide range of risks such as earthquakes, tornadoes, and hurricanes. In Singapore, the latter is pretty low so we most would opt for an “Insured peril” coverage. However, an “All risks” policy is recommended because it will cover accidental loss and/or damage of all your home contents (barring exceptions). For example, if you tripped and fell on your television causing it to fall and break, an “All risks” policy will cover you. An “Insured peril” policy will only cover a television falling and breaking if that fall was caused by a ﬁre, ﬂood, or plane dropping out of the sky. Tenant: If you are renting a home that is well-furnished, your landlord will most likely have bought home insurance, so it’s not necessary for you to get one. However, if you are a tenant renting a home that is unfurnished, then you will be the one who has to pay for the cost of the home contents. In this case, it’s wise to get a home insurance plan to protect your belongings and against other perils such as ﬁre or theft. If you are a student renting a room, co-sharing with other roommates, then you probably would not need to buy home insurance as your landlord would likely have purchased one. Landlord: As much as you hope your tenants will be responsible enough to take good care of your home and items like the refrigerator, washing machine, sofa, bed, microwave oven and air-con, there’s a chance that your belongings may be damaged due to carelessness. On top of that, you can also enjoy protection from personal liability should your tenant(s) decide to sue you for injuries sustained caused by objects or electrical appliances in your property. Q2: What is the value of your home’s content? Gone are the days when our grandparents or great-grandparents stashed away valuables in Milo tins and hid them under the bed. While most of us deposit money in banks and no longer hold large sums of cash at home today, contents in our home are actually worth a lot. It may not hit you at ﬁrst because some of the valuables may have accumulated over time but expensive watches, laptops, smartphones, desktops, home entertainment systems, furniture, carpets, crockery and kitchen appliances can really add up. Value of content for the average household in Singapore How do we go about estimating the rough cost of home contents in an average household in Singapore. What exactly constitutes an “average” household? We go by the average number of people staying under one roof (HDB, condominium, landed property) in Singapore – a family with two kids. Of course, there are also a sizeable number of singles who live alone, as well as families with many kids living with their grandparents. For the sake of deriving an ‘estimated’ cost of home contents, we’ll stick to four people living in a household as a point of reference. Value comparisons based on two tiers We will also do our comparison based on people who shop purely for practical purposes (basic tier), like a cheap sofa set good enough for sitting, to someone who’s willing to splurge (high-end tier) on an imported designer leather sofa from Italy. These comparisons will not be restricted to where they live as again, there may be people who live in HDB ﬂats who can aﬀord to spend a fortune on a sofa set while there may also be people who live in condominiums who are happy with just a decent sofa bought from IKEA. We did a basic stock-take of the average value of the usual contents you can ﬁnd in a home: Estd value Estd value Home Content Examples (Basic) (High) Furniture Sofa, dining table set, bed frames, mattresses, wardrobe, kitchen cabinets, cupboards, study $4,000 $25,000 Home appliances $20,000 TV, sound/AV system, washing machine, microwave, refrigerator, air-con system, lights $5,000 Pots, pans, wok, cutlery, plates, bowls, glassware, dishwasher, cooking stove, cups and saucers $200 $2,000 entertainment Desktop PC, laptop, tablets, smartphones, printer, camera, headphones, game console, CD/DVDs $10,000 $30,000 Bathroom & sanitary Mirror, water heater, shower, bathtub, toilet bowl, basin $2,000 $10,000 Walls, window, ﬂooring Doors, gates, wallpaper, window panes & grills, ﬂooring (marble, tiles, parquet) $10,000 $30,000* Clothing, shoes& linen Clothes, linen, mattress, bedsheet, pillow, sneakers, dress shoes, sports shoes. $1,000 $8,000 Jewellery & accessories Jewellery, watches, sunglasses, scarf, shawl, handbags, wallet, purse $2,000 $20,000* Personal documents, cash Education certiﬁcates, passport, NRIC, birth certiﬁcate, marriage certiﬁcate, will, photos, credit Kitchen and crockery Mobile devices, appliances Priceless cards, cash Pedigree pet(s) AVA approved pets (dog, cat, ﬁsh, bird etc) Priceless Antiques and collections Antiques, stamp, coins, paintings, sculptures, artwork, wine, liquor Priceless What types of coverage will you need? Next, you will need to decide on how much coverage you need. As you shop around for various home insurance plans oﬀered by diﬀerent companies, you will most likely ﬁnd that most of them oﬀer the following coverage: Home Contents: Includes the usual items found at home: furniture, electrical appliances, crockery and utensils, clothes, jewellery, personal devices such as laptops, desktops, tablets, mobile phones etc. Fixtures and Fittings: Renovations and ﬁttings in the house such as walls, ceilings, built-in wardrobes, ﬂoor coverings, pipes, toilet bowls, washbasins etc. Damage to the House: Refers to damage done to the physical structure of the house. Loss of personal documents, cards money and valuables : Covers personal documents such as passport, birth certiﬁcates, identity card, credit cards, driving license, education certiﬁcates etc. You can also get covered for your money in cash and valuables such as Rolex watches. However, the payout is capped at a certain amount and it varies from policy to policy. Interim accommodation: If your home is rendered uninhabitable as a result of let’s say a ﬁre, you will need to ﬁnd interim accommodation while waiting for it to be ﬁxed. The payout is usually capped at a certain amount and for a certain period of time. Compensation for you, your family and/or domestic helper: In the event of an accident, you can get compensation for medical expenses incurred for you and your family members and domestic helper (live in). Pets: Some policies will cover the loss of a pet, usually dogs and cats (sometimes limited to certain breeds or pedigree). It can also be purchased separately, like an optional add-on. Why Fire Insurance is not enough It is easy to conﬂate ﬁre insurance with home insurance. Basically, ﬁre insurance covers the cost of repairing the ‘internal structures, ﬁxtures and areas built and provided by the HDB’ due to damages caused by ﬁre, smoke and water. The contents in your home such as furniture, renovations and personal belongings are excluded from coverage. Hence, getting home insurance will provide you with much more comprehensive coverage . Now, the exact coverage depends on the policy and provider you choose. If you have a precious pedigree dog or exotic Persian cat, you need to choose a policy which provides such coverage or as an add-on. While Singapore is generally a safe country with a low crime rate, it does not mean that there is no crime. House break-ins, though declining, do still take place. With many home insurance plans priced aﬀordably which also allows you to pay via credit cards, it is wise to start doing some math now. How do you choose a home insurance policy? Remember: the best plan is not the cheapest, but the most comprehensive one which meets your needs. That said, you need to think about what your priorities are. You will also need to calculate the cost of your home contents and renovations in order to help you choose the amount of coverage you desire. You must also be careful not to under-insure your assets. Insurance companies expect the coverage to match the value of your properties. Do not under-estimate the implications of doing so. For instance, if the coverage is $30,000 on the value of your total covered assets which is $60,000, you are under-insuring your home by 50%. Hence, if you ﬁle for a claim for a loss of $10,000, you will only get $5,000 – half of its actual monetary worth. Once you know how much your home should be insured for, the next step is to ﬁnd the best home insurance that suits your needs. One way to decide which policy has a better payout is to do a simple calculation. Should you ﬁnd a policy which you like but it does not cover all your needs, you can opt for an add-on. Some insurance companies allow ﬂexibility in customising your insurance plan. Do keep a lookout for incentives such as discounts on policies if you sign up for a longer duration, that is, ﬁve years instead of one year . Sometimes, certain credit cards also oﬀer a special rate if you pay for the insurance plan using with a card issued by a speciﬁc bank. It is also advisable to review your coverage as and when necessary. For instance, if you have just spent $80,000 renovating your home or if you have installed a home bar with an expensive collection of wine and whiskey or a home movie theatre system, you might want to upgrade your existing tier of coverage to protect your new assets. Compare Home Insurance Plans To Apply Read these next: Using Blockchain To Simplify Insurance Claims for Bereaved Families How To Do Financial Planning When You’re A Single Woman Food Poisoning: Does Your Insurance Cover It? Avoid These 5 Mistakes When Buying Insurance 5 Things Singaporeans Should Know About End-of-Life Planning Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results Sitemap  JOIN US ON Financial News and Advice in Singapore Best Cashback Credit Cards in Singapore 2019 November 13, 2019 | Posted by SingSaver Team | Credit Cards Tags: Best Credit Cards, Cashback Credit Card, CIMB Visa Signature Card , Citi Cash Back Visa Card , OCBC 365 Credit Card, Standard Chartered Unlimited Credit Card , UOB YOLO Card The best cashback credit cards in Singapore help you save money on your daily spending in a convenient and easy way. Cashback credit cards oﬀer perhaps the most straightforward type of “reward” for consumers. Simply charge your spend to a cashback card, and you automatically receive a rebate oﬀ your purchase as “cash back”. This will be in the form of credit given back to you in your next monthly credit card statement. Read more: Cashback or Rewards Credit Card: Which is Better? What should I look out for in a cashback credit card? Cashback is usually awarded on speciﬁc categories such as dining, online shopping, groceries and transport so the ﬁrst thing is to know your monthly spending habits and get the right cashback credit card for you. In addition, some cards come with pretty extensive terms and conditions. These include: monthly cap on cashback you can receive per month monthly minimum spend before you qualify for advertised cashback rate diﬀerent cashback rates based on week day or weekend spend speciﬁc merchant partners such as speciﬁc petrol chains (eg Caltex) or supermarket chains (eg Cold Storage) To help you compare and apply for the best cashback credit cards and maximise your savings, we present our top ﬁve recommended cashback cards for 2019. BEST 5 CREDIT CARDS FOR CASHBACK Standard Chartered Citi Cash Back Visa Card OCBC 365 Credit Card UOB YOLO Card CIMB Visa Signature ∙ Weekend dining ∙ All-round savings ∙ Partying ∙ All-round spending Unlimited Credit Card Best For ∙ Large-ticket items ∙ Want to spend across ∙ Grocery shopping ∙ Dining out diﬀerent categories ∙ Online Shopping ∙ Entertainment Cashback Rate ∙ 1.5% cashback on all ∙ 8% cashback spends Fee Waiver 2-year annual fee waiver 1-year fee waiver ∙ 6% cashback on dining ∙ 8% for weekend spend ∙ 10% cashback on beauty and online food delivery on dining, entertainment, and wellness, online ∙ 3% cashback on online and Grab shopping, groceries, pet travel, ride-hailing and ∙ 3% cashback on shops and veterinary recurring telco bills weekday spend including services, cruises ∙ 5% on fuel spend online fashion and travel 2-year fee waiver 1-year fee waiver No fees for life Editor’s note: This is an unsponsored and unbiased review. Credit card oﬀers are subject to change at any time. The article was last updated on 1 Aug 2019. 1. Standard Chartered Unlimited Credit Card: Best for big-ticket items The drawback of most cashback cards is the limit on rebates you can earn each month. But not with the Standard Chartered Unlimited Credit Card. This cashback credit card comes with no monthly cap and no minimum spend required. This means you’ll earn cashback from the very ﬁrst dollar you charge. The cashback clocks in at 1.5%, which at ﬁrst glance may not seem terribly enticing. But if you spend a lot, your savings add up right before your eyes. Use this card for large-ticket items and you’ll save in a really big way, especially since there’s no cashback cap. This means that a S$10,000 purchase will save you a whopping S$150 in cashback! However, be sure to always pay oﬀ your credit card in full each month to avoid the high interest charges. Alternatively, use a low-EIR balance transfer manage your repayment (instead of 0% instalment plans which give you 0 rewards). Qualifying Criteria and Card Fees Singaporeans/PR Foreigners Annual Fee Fee Waiver Eﬀective Interest Rate 21 to 65 years old 21 to 65 years old S$192.60 (GST 2 years S$30,000 minimum annual income S$60,000 minimum annual income, with valid employment pass included) 25.9% per annum Why we love this card: No minimum spend and no monthly cap Earn cashback on all spends Doubles up as EZ-link card But do take note: Cashback at 1.5% Apply for this card if you: Value convenience over having to keep track of spending categories, or charge a signiﬁcant amount to your credit card every month. SingSaver Exclusive Oﬀer Apply for a Standard Chartered Unlimited Credit Card through SingSaver to get $200 cash and cashback for new customers , and $70 cash and cashback for existing customers! Apply Now 2. Citi Cash Back Visa Card: Best for weekend grocery shopping or dining If you bring the family out for weekend dining and grocery shopping, the Citi Cash Back card is a good cashback credit card to have in your wallet. It comes with a generous 8% cashback at virtually every stop of your trip, be it at your neighbourhood supermarket or your favourite eatery. But you’ll need to spend a monthly minimum spend of S$888 per month to earn cashback. Cashback amounts are also capped at S$25 per category per month (dining, groceries, and petrol) but this can already save you S$75 each month. Qualifying criteria and card fees Singaporeans/PR Foreigners Annual fee Fee Waiver Eﬀective Interest Rate 21 yrs and above 21 yrs and above S$192.60 1 year 26.9% per annum S$30,000 minimum annual income S$42,000 minimum annual income Why we love this card: High cashback of 8% on three common spending criteria – dining, groceries, and petrol High potential monthly savings of up to S$75 Card can be used for ERP payments But do take note: Monthly minimum spend of S$888 to earn cashback Category cashback cap of S$25 per month Get this card if you: Consistently spend on eating out, grocery shopping, and ride-hailing or petrol costs. Apply Now 3. OCBC 365 Credit Card: Best for all-round savings The OCBC 365 Card is one of our favourite cashback credit cards for all-round savings. Enjoy 6% cashback on dining and online food delivery all week, and 3% cashback on new spending categories such as online travel, and local and overseas taxis and private hire rides. If you drive, the OCBC 365 Card oﬀers amazing cashback of 5% on fuel spend at all petrol service stations and up to 23% savings at Caltex. However, there’s a downside: the monthly minimum spending is S$800, otherwise, your cashback rate is only 0.3%. Qualifying Criteria and Card Fees Singaporeans/PR Foreigners Annual Fee Fee Waiver Eﬀective Interest Rate Minimum of 21 years old At least 21 years old S$192.60 2 years 26.88% per annum S$30,000 minimum annual income S$45,000 minimum annual income Why we love this card: Cashback eligible spending categories are now more relevant than ever, and cover worldwide transactions 6% cashback on dining and online food delivery 3% cashback on ride-hailing, online travel, and recurring telco and utilities But do take note: Minimum spend of S$800 per month to enjoy cashback Monthly cashback cap of S$80 per month Apply for this card if you: Drive often and want to save across a wide variety of transactions common to your lifestyle. Apply Now 4. UOB YOLO Card: Best for the party crowd The UOB YOLO Card is best for busy millennials who often dine or hang out with friends and use Grab for their frequent commutes. Enjoy cashback of 8% on weekend spending, including dining, online shopping, and entertainment. Qualifying Criteria and Card Fees Singaporeans/PR Foreigners Annual fee Fee waiver Eﬀective Interest Rate 21 yrs and above with S$30,000 21 yrs and above and S$40,000 S$192.60 1 year 25.9% per annum minimum annual income minimum annual income OR OR S$10,000 ﬁxed deposit collateral S$10,000 ﬁxed deposit collateral Why we love this card: High cashback of 8% for weekend spend on dining, entertainment, and Grab upsized 3% cashback on weekday spend including online fashion and travel But do take note: Minimum spend of S$600 per month to enjoy cashback Non-promo cashback cap at S$60 per month Apply for this card if you: Like to club, dine out, have brunch, cafe-hop, and watch movies. Apply Now 5. CIMB Visa Signature Card : Best for all-round spending CIMB Visa Signature Card is the newest kid on the block to oﬀer one of the highest headline cashback rates. Cardholders can expect to earn a cashback rate of up to 10% across categories like beauty and wellness, online shopping, grocery, pet shops and veterinary services and cruises. Additionally, this card is compatible with SimplyGo, making it one of the ultra-attractive cashback cards in the market right now. Qualifying Criteria and Card Fees Singaporeans/PR Foreigners Annual fee Fee waiver Eﬀective Interest Rate 21 yrs and above with S$30,000 21 yrs and above and S$40,000 S$192.60 For life 25.5% per annum minimum annual income minimum annual income OR OR 55 years and above with S$10,000 ﬁxed deposit collateral S$15,000 OR S$10,000 ﬁxed deposit collateral Why we love this card: High cashback of 10% for multiple categories No annual fees for life $80 cash credit signup promotion $50 cash via PayNow (SingSaver exclusive promotion) But do take note: Minimum spend of S$800 per month to enjoy cashback $20 cashback cap per category Apply for this card if you: Like to have a fuss-free card for all-round spending (particularly in beauty and wellness, online shopping, grocery shopping and veterinary services. Apply Now Compare and apply for the best cashback credit cards on SingSaver If you’re looking for a good cashback card to help you save on everything from groceries, to petrol, to transport, be sure to apply through SingSaver to maximise your welcome rewards with exclusive sign-up bonuses (and this is on top of the bank’s own rewards!). Use SingSaver’s free online comparison tool to compare the best cashback credit cards in Singapore. Compare Best Shopping Credit Cards Read these next: 2019 Agoda Credit Card Promotions To Book Your Holiday With Best Credit Cards For Free Parking in Singapore Best Credit Cards for Paying Your Utility Bills in Singapore The Best Miles Cards… May Be Rewards Cards 4 Credit Cards You Can Use as Your EZ-Link Card Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results Sitemap  JOIN US ON Financial News and Advice in Singapore Ultimate Guide To Year-End Online Shopping Events 2019 (11.11, Black Friday, Cyber Monday, 12.12 & Boxing Day) November 13, 2019 | Posted by SingSaver Team | Lifestyle, Save Money , Shopping Tags: 11.11 Sale, 12.12 Sales, Black Friday, Cyber Monday , Online Shopping Sa-le-brate the end of 2019 with shopping events that oﬀer discounts too good to be missed. The season of epic shopping is here – again! Starting in early-November and lasting till end-December, these online shopping events oﬀer massive discounts across categories. So if you are thinking of crossing out your Christmas gifting list or looking at items to spruce up the house for the New Year, this is the time to start. Wondering when is the best time to cart out your items? Here’s a comprehensive guide to all 5 online shopping events. Bonus trivia: We bring you the stories behind each shopping event and how they got coined. 11.11 Singles’ Day Date: Monday, 11 November 2019 Websites to visit: China and Singapore-based websites like AliExpress, TaoBao, Tmall, Qoo10, Shopee, Lazada, Zalora, etc. Setting the tone for the rest of the year-end online shopping deals is 11.11 Singles’ Day sale. First made popular in China by Chinese e-Commerce giant Alibaba, you can expect major price slashes of up to 90% across product categories, especially on items from China-based eCommerce stores. Although this sale is technically over, there’s still promotions running through the week. For a complete list of Single’s Day promo codes, read 11.11 Singles Day Deals and Promotions in Singapore 2019. Black Friday Date: Friday, 29 November 2019 Websites to visit: US or UK-based websites like Shopbop, ASOS, Macy’s, Urban Outﬁtters, Net-a-Porter, BookDepository, etc. While 11.11 Singles’ Day kick-starts the year-end shopping events, Black Friday heralds the beginning of Christmas holiday shopping. An annual sale that takes place on the Friday following Thanksgiving, it was once only held at brick and mortar stores in western countries, but has since found itself online and in Asia. Apart from the usual suspects like Qoo10 and Lazada, expect US and UK brands (e.g. Calvin Klein, Coach, Nike, SuperDry, etc.) to oﬀer massive markdowns and ﬂash sales for the day itself, and over the weekend. Pro-tip: To get exclusive dibs or preview of the sale, subscribe to a brand or website’s newsletter or membership at least a week prior to Black Friday as they will start releasing teasers a few days before. Stay tuned to this page for the list of 2019 Black Friday deals and promotions in Singapore. Cyber Monday Date: Monday, 2 December 2019 Websites to visit: US or UK-based websites like Amazon, Best Buy, eBay, etc. Singapore-based websites like Qoo10, Shopee or Lazada. Can you believe that Cyber Monday was actually created by retail stores to encourage consumers to shop online? Similar to Black Friday, you can expect a wide range of items of sale – from perfume to power tools and apparel. In recent years, many retailers and eCommerce sites have combined Black Friday and Cyber Monday into an epic weekend sale. Yes, 4 glorious days of shopping! Pro-tip: When Cyber Monday comes around and if you have been holding out on certain items for Christmas gifting (hoping their price will drop further), you should really just cart out to prevent unwanted festive panic. Taking into account possible conﬁrmation and delivery delays due to the inﬂux of orders over the Black Friday weekend, your Cyber Monday package will most likely only reach you sometime mid-December. This leaves you just enough time to wrap and gift them to your loved ones. 12.12 Date: Thursday, 12 December 2019 Websites to visit: China and Singapore-based websites like AliExpress, TaoBao, Tmall, Qoo10, Shopee, Lazada, Zalora, Klook, etc. Similar to 11.11, 12.12 is another eCommerce sale started by Alibaba. You can expect major price slashes of up to 80% across product categories, especially on items that are shipped from China. It may be good to note that as this is the last sale before Christmas, you should really tap on it for any outstanding gifts ( just make sure to opt the quicker delivery option). Boxing Day Date: Thursday, 26 December 2019 Websites to visit: US or UK-based websites like Amazon, Best Buy, eBay, etc. Singapore-based websites like Qoo10, Shopee or Lazada. The story goes that this day got its name because masters used to present a box of gifts to their servants and give them the day oﬀ. While Boxing Day is still observed as a holiday in Britain, it has become a day for most brands to hold yet another sale (to clear what is leftover from their Christmas collection)! Pro-tip: The last sale of the year, and your ﬁnal chance to get yourself new clothes and household items in preparation for Chinese New Year (25 and 26 January 2020)! Earn more by shopping online with the right credit card Apart from saving on the year-end sale for holiday gifts or a little treat yo’self, you can make your purchases work harder for you (and even earn air miles or cashback rewards) if you shop with the right credit card! Citi Rewards Visa Card The Citi Rewards Visa oﬀers 4 mpd (miles per dollar) on the ﬁrst $1K each month spent on online or oﬄine shopping, in Singapore and overseas. As Citibank’s T&Cs deﬁne shopping as any expenditure at stores which sell bags, shoes, or clothes, or department stores, you can use the Citi Rewards card to earn 4 mpd at popular online merchants like Amazon, Lazada, Qoo10 and Taobao. Apply Now OCBC Titanium Rewards Card This card gives you 10x OCBC points or 4 mpd for every S$1 spent ( capped at $12,000 per year), whether you’re shopping online or at brick-and-mortar stores, in Singapore or anywhere in the world. There’s also no minimum spend required, so you can start earning bonus points from the ﬁrst dollar onwards. Not to mention, your purchases are protected by an online price guarantee and e-commerce protection, handy in the case of disputes. Apply Now Standard Chartered Unlimited Cashback Card The Standard Chartered Unlimited Cashback Card is a no-brainer when it comes to making your purchases work harder for you. Almost all spend qualiﬁes you for 1.5% cashback without any caps or minimum spend required to qualify for the cashback. And the best part? You can get instant digital credit card approval and issuance if you apply via MyInfo! Apply Now DBS Woman’s World Card This DBS credit card rewards you 4 mpd for all your online spending. Think air ticket purchases, Grab or Go-Jek rides, movie ticket purchases, attraction tickets and food delivery. Not to mention, you could also use it for your regular online shopping at Amazon, Lazada, Qoo10 and Shopee. That being said, there are still some exclusions. Apply Now KrisFlyer UOB Credit Card Earns 3 mpd on online shopping and GOJEK/Grab rides , provided you spend at least $500 on SIA-related transactions in a year. Just a note, converting your points to miles takes a little longer as compared to other cards. Apply Now Read these next: SingSaver’s 11.11 Mega Rewards Promotion⁠ — Win $18,000 in cash 2019 Agoda Credit Card Promotions To Book Your Holiday With 1-for-1 Buﬀet Dining Promotions in Singapore High Tea Promotions In Singapore Cheapest Sports Goods Under $20 at Decathlon Singapore Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results SingSaver 37,504 likes Like Page Sign Up Sitemap  JOIN US ON 0 S H A R E S Financial News and Advice in Singapore Ultimate Guide To Year-End Online Shopping Events 2019 (11.11, Black Friday, Cyber Monday, 12.12 & Boxing Day) November 13, 2019 | Posted by SingSaver Team | Lifestyle, Save Money , Shopping Tags: 11.11 Sale, 12.12 Sales, Black Friday, Cyber Monday , Online Shopping Sa-le-brate the end of 2019 with shopping events that oﬀer discounts too good to be missed. The season of epic shopping is here – again! Starting in early-November and lasting till end-December, these online shopping events oﬀer massive discounts across categories. So if you are thinking of crossing out your Christmas gifting list or looking at items to spruce up the house for the New Year, this is the time to start. Wondering when is the best time to cart out your items? Here’s a comprehensive guide to all 5 online shopping events. Bonus trivia: We bring you the stories behind each shopping event and how they got coined. 11.11 Singles’ Day Date: Monday, 11 November 2019 Websites to visit: China and Singapore-based websites like AliExpress, TaoBao, Tmall, Qoo10, Shopee, Lazada, Zalora, etc. Setting the tone for the rest of the year-end online shopping deals is 11.11 Singles’ Day sale. First made popular in China by Chinese e-Commerce giant Alibaba, you can expect major price slashes of up to 90% across product categories, especially on items from China-based eCommerce stores. Although this sale is technically over, there’s still promotions running through the week. For a complete list of Single’s Day promo codes, read 11.11 Singles Day Deals and Promotions in Singapore 2019. Black Friday Date: Friday, 29 November 2019 Websites to visit: US or UK-based websites like Shopbop, ASOS, Macy’s, Urban Outﬁtters, Net-a-Porter, BookDepository, etc. While 11.11 Singles’ Day kick-starts the year-end shopping events, Black Friday heralds the beginning of Christmas holiday shopping. An annual sale that takes place on the Friday following Thanksgiving, it was once only held at brick and mortar stores in western countries, but has since found itself online and in Asia. Apart from the usual suspects like Qoo10 and Lazada, expect US and UK brands (e.g. Calvin Klein, Coach, Nike, SuperDry, etc.) to oﬀer massive markdowns and ﬂash sales for the day itself, and over the weekend. Pro-tip: To get exclusive dibs or preview of the sale, subscribe to a brand or website’s newsletter or membership at least a week prior to Black Friday as they will start releasing teasers a few days before. Stay tuned to this page for the list of 2019 Black Friday deals and promotions in Singapore. Cyber Monday Date: Monday, 2 December 2019 Websites to visit: US or UK-based websites like Amazon, Best Buy, eBay, etc. Singapore-based websites like Qoo10, Shopee or Lazada. Can you believe that Cyber Monday was actually created by retail stores to encourage consumers to shop online? Similar to Black Friday, you can expect a wide range of items of sale – from perfume to power tools and apparel. In recent years, many retailers and eCommerce sites have combined Black Friday and Cyber Monday into an epic weekend sale. Yes, 4 glorious days of shopping! Pro-tip: When Cyber Monday comes around and if you have been holding out on certain items for Christmas gifting (hoping their price will drop further), you should really just cart out to prevent unwanted festive panic. Taking into account possible conﬁrmation and delivery delays due to the inﬂux of orders over the Black Friday weekend, your Cyber Monday package will most likely only reach you sometime mid-December. This leaves you just enough time to wrap and gift them to your loved ones. 12.12 Date: Thursday, 12 December 2019 Websites to visit: China and Singapore-based websites like AliExpress, TaoBao, Tmall, Qoo10, Shopee, Lazada, Zalora, Klook, etc. Similar to 11.11, 12.12 is another eCommerce sale started by Alibaba. You can expect major price slashes of up to 80% across product categories, especially on items that are shipped from China. It may be good to note that as this is the last sale before Christmas, you should really tap on it for any outstanding gifts ( just make sure to opt the quicker delivery option). Boxing Day Date: Thursday, 26 December 2019 Websites to visit: US or UK-based websites like Amazon, Best Buy, eBay, etc. Singapore-based websites like Qoo10, Shopee or Lazada. The story goes that this day got its name because masters used to present a box of gifts to their servants and give them the day oﬀ. While Boxing Day is still observed as a holiday in Britain, it has become a day for most brands to hold yet another sale (to clear what is leftover from their Christmas collection)! Pro-tip: The last sale of the year, and your ﬁnal chance to get yourself new clothes and household items in preparation for Chinese New Year (25 and 26 January 2020)! Earn more by shopping online with the right credit card Apart from saving on the year-end sale for holiday gifts or a little treat yo’self, you can make your purchases work harder for you (and even earn air miles or cashback rewards) if you shop with the right credit card! Citi Rewards Visa Card The Citi Rewards Visa oﬀers 4 mpd (miles per dollar) on the ﬁrst $1K each month spent on online or oﬄine shopping, in Singapore and overseas. As Citibank’s T&Cs deﬁne shopping as any expenditure at stores which sell bags, shoes, or clothes, or department stores, you can use the Citi Rewards card to earn 4 mpd at popular online merchants like Amazon, Lazada, Qoo10 and Taobao. Apply Now OCBC Titanium Rewards Card This card gives you 10x OCBC points or 4 mpd for every S$1 spent ( capped at $12,000 per year), whether you’re shopping online or at brick-and-mortar stores, in Singapore or anywhere in the world. There’s also no minimum spend required, so you can start earning bonus points from the ﬁrst dollar onwards. Not to mention, your purchases are protected by an online price guarantee and e-commerce protection, handy in the case of disputes. Apply Now Standard Chartered Unlimited Cashback Card The Standard Chartered Unlimited Cashback Card is a no-brainer when it comes to making your purchases work harder for you. Almost all spend qualiﬁes you for 1.5% cashback without any caps or minimum spend required to qualify for the cashback. And the best part? You can get instant digital credit card approval and issuance if you apply via MyInfo! Apply Now DBS Woman’s World Card This DBS credit card rewards you 4 mpd for all your online spending. Think air ticket purchases, Grab or Go-Jek rides, movie ticket purchases, attraction tickets and food delivery. Not to mention, you could also use it for your regular online shopping at Amazon, Lazada, Qoo10 and Shopee. That being said, there are still some exclusions. Apply Now KrisFlyer UOB Credit Card Earns 3 mpd on online shopping and GOJEK/Grab rides , provided you spend at least $500 on SIA-related transactions in a year. Just a note, converting your points to miles takes a little longer as compared to other cards. Apply Now Read these next: SingSaver’s 11.11 Mega Rewards Promotion⁠ — Win $18,000 in cash 2019 Agoda Credit Card Promotions To Book Your Holiday With 1-for-1 Buﬀet Dining Promotions in Singapore High Tea Promotions In Singapore Cheapest Sports Goods Under $20 at Decathlon Singapore Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results SingSaver 37,504 likes Like Page Sign Up Sitemap  JOIN US ON 0 S H A R E S Financial News and Advice in Singapore Will The New CPF Retirement Sum Scheme Changes Aﬀect You? November 6, 2019 | Posted by SingSaver Team | CPF, News, Retirement Planning Tags: CPF, News, Retirement savings, Retirement Sum Scheme Following the new changes to CPF’s Retirement Sum Scheme (RSS), 60,000 Singaporeans will receive a larger monthly payout ⁠— but over a shorter period of time. Earlier this week, the Minister of Manpower announced the maximum RSS payout age to be reduced from 95 to 90. This change was made taking into account the feedback from Singaporeans that payouts lasting up to age 95 is too long. This new rule will apply to all RSS members who are currently receiving payouts from 1 January 2020 and those who turn 65 from 1 July 2020 onward. In addition to this, further details of the new Contribute As You Earn (CAYE) scheme that encourages freelancers to make regular Medisave contributions were also announced. Starting early 2020, freelancers who work directly with Government and private agencies will be given the option to have a percentage of their fees automatically directed into their Medisave accounts. What is CPF RSS? One of two retirement schemes by the Central Provident Fund (CPF), RSS provides members with monthly payouts during their retirement years. The amount received and length of payment will depend on the amount available in your Retirement Account (RA), and when you decide to start receiving these payments. Currently, the minimum age to start receiving RSS payouts is 65, with the option to delay until the age of 70. How many CPF retirement schemes are there? CPF oﬀers two retirement schemes, namely CPF Lifelong Income For The Elderly (LIFE) and RSS. If you are born in or after May 1961, the amount saved in your RA will determine which retirement scheme fall under. CPF LIFE – More than $60,000 in RA (6 months prior to turning 65) RSS – Less than $60,000 in RA (6 months prior to turning 65) Read these next: What are the Pros and Cons of Using CPF Life? 6 Common CPF Myths in Singapore (You Probably Believe) Pros and Cons of Keeping Your Savings in Your CPF Special Account Retirement Age: What’s The “Correct” Age to Retire in Singapore? Is the CPF Supplementary Retirement Scheme (SRS) Worth Using? Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email 0 Comments Sort by Oldest Add a comment... Facebook Comments plugin Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results SingSaver 37,504 likes Like Page Sign Up Sitemap  JOIN US ON 0 S H A R E S Financial News and Advice in Singapore Lazada Promo Codes and Credit Card Promotions in Singapore 2019 November 6, 2019 | Posted by SingSaver Team | Lifestyle, Save Money , Shopping Tags: CIMB Visa Signature Card , Citi Rewards Card , DBS Live Fresh Card , Lazada , Promo and Discount Codes, UOB Lady's Credit Card If you’re a fan of online shopping, here are 5 (tried and tested) tips to help you save even more, plus a full list of Lazada promo codes. Editor’s Note: Promo details are subject to change at any time. This article was last updated in November 2019. 1. Latest Lazada Promo Codes and Card Promotion Lazada Promo Codes For New Bank Users Lazada Promo Codes For Existing Users 2. Use the Right Credit Card for Payment 3. Get a LiveUp Membership 4. Use Shopback 5. Join the Lazada Mailing List and Social Channels Check for the Latest Lazada Promo Codes and Credit Card Promotion Here are some of the latest Lazada promo codes you can avail with your credit card, listed by bank. An important thing to remember is that Lazada recently switched to vouchers with unique promo codes, and you need to collect the vouchers from their promo page (links below). Lazada Promo Codes For New Bank Users: Citi Credit Cards Promo Details Promo Code Validity 20% oﬀ (no min. spend) Collect voucher here First 1,000 redemptions monthly, from 1 Capped at S$10 July – 31 December 2019 Limited to 1 redemption per customer DBS/POSB Credit Cards 20% oﬀ (no min. spend) Collect voucher here – Capped at S$10 Standard Chartered Credit Cards 20% oﬀ (no min. spend) Collect voucher here Capped at S$10 First 1,000 redemptions monthly, from 1 July – 31 December 2019 Limited to 1 redemption per customer HSBC Credit Cards 20% oﬀ (no min. spend) Collect voucher here Valid till 31 December 2019 Capped at S$10 Limited to ﬁrst 1,000 redemptions per month UOB Credit Cards 18% oﬀ (no min. spend) Collect voucher here Capped at S$10 First 1,000 redemptions monthly, from 1 July – 31 December 2019. Limited to 1 redemption per customer Any Mastercard 15% oﬀ (no min. spend) Collect voucher here Limited to 1 redemption per customer Promo Details Promo Code Validity S$8 oﬀ (min. spend S$60) Collect voucher here A new voucher can be collected every Capped at S$10 Lazada Promo Codes For Existing Bank Users: Citi Credit Cards Sunday at 9am, from 7 July – 31 December 2019 Limited redemptions per week DBS/POSB Credit Cards S$10 oﬀ (min. spend S$80) Collect voucher here A new voucher can be collected every Thursday at 9am, from 4 July – 31 December 2019 Limited to ﬁrst 550 redemptions per week DBS/POSB Credit Cards S$30 oﬀ (min. spend S$300) Collect voucher here A new voucher can be collected every Thursday at 9am, from 4 July – 31 December 2019 Limited to ﬁrst 320 redemptions per week Standard Chartered Credit Cards S$6 oﬀ (min. spend S$50) Collect voucher here A new voucher can be collected every Saturday at 9am, from 6 July – 31 December 2019 Limited redemptions per week Standard Chartered Mastercards S$35 oﬀ (min. spend S$320) Collect voucher here A new voucher can be collected every Saturday at 9am, from 13 July – 31 December 2019 Limited redemptions per week HSBC Credit Cards 12% oﬀ (no min. spend) Capped at S$10 Collect voucher here A new voucher can be collected every Thursday at 9am, from 2 July – 31 December 2019 Limited to ﬁrst 960 redemptions per week HSBC Credit Cards S$15 oﬀ (min. spend S$150) Collect voucher here A new voucher can be collected every Tuesday at 9am, from 2 July – 31 December 2019 Limited to ﬁrst 670 redemptions per week UOB Credit Cards S$10 oﬀ (min. spend S$100) Collect voucher here Limited to ﬁrst 800 redemptions monthly, starting from 9am on the 1st day of every month Valid till 31 December 2019 Any Mastercard 15% oﬀ (no min. spend) Collect voucher here Capped at S$5 A new voucher can be collected every Wednesday at 9am, from 3 July – 31 December 2019 Limited redemptions per week Another channel to get Lazada promo codes and discounts is via your bank’s ibanking website or app. For example, the DBS Lifestyle app allow you to collect vouchers from participating merchants by browsing under their ‘Deals’ tab. Collect discount vouchers from participating merchants, including Lazada. The UOB Mighty app is another example of an ibanking platform that you can use to collect various merchant vouchers. Navigate to the ‘Lifestyle’ tab and select ‘Deals & Coupons’ to browse all available oﬀers. Lazada is usually one of the merchants listed under ‘Coupons’ > ‘Shop/Travel’. Select ‘Deals & Coupons’ to see the available deals of the month. Select ‘Deals & Coupons’ to see the available deals of the month. Use the Right Credit Card for Payment Beyond using a promo code or voucher for a direct discount on your purchase, you can also get more value for your spend by paying with a credit card that gives you bonus rewards, air miles, or cashback. Here are some of the best credit cards in the market right now for online shopping. CIMB Visa Signature Card At a glance: 10% cashback on online shopping (min. spend of S$800 required in the month) Added beneﬁts: Complimentary Travel Insurance of up to SGD$500,000 when you charge your full travel fares to your CIMB Visa Signature Card Welcome gift: Free return air tickets to one of 16 destinations. Complimentary one return economy class air ticket to one of 16 destinations for new cardholders when you apply and make a minimum spend of S$600 per month for 3 months from card approval. Terms and Conditions apply. Valid till 31 December 2019. Terms and Conditions apply. Apply Now UOB Lady’s Card At a glance: Earn 10x UNI$ (20 miles) per S$5 spend (only available for 1 of 7 categories per quarter) Terms and Conditions apply. Added beneﬁts: Shop with peace of mind with e-Commerce protection, which provides coverage for your online purchases. Click here for details. Welcome gift: Receive S$100 cash credit for new credit card holders who charge a minimum of S$1,000 within ﬁrst 30 days. Promotion valid till 31 December 2019. SingSaver Exclusive: Get S$20 cash reward when your card is approved! Promotion ends 30 November 2019. Terms and Conditions apply. Apply Now Citi Rewards Visa Card At a glance: Earn 10X Rewards (10 Points or 4 Miles for every S$1 spent) on all your online purchases (except travel-related transactions), and local and overseas shopping. Terms and Conditions apply. SingSaver Exclusive: New customers get S$200 cash via PayNow upon card approval! Existing customers get S$30 cash via PayNow upon card approval. Promo ends 30 November 2019. Terms and Conditions apply. Apply Now DBS Live Fresh Visa Card At a glance: Earn 5% cashback when you use your card on Apple Pay, Samsung Pay or Andriod Pay on online shopping with a min. spend of S$600 in a calendar month. Welcome gift: Get up to S$180 cashback Added beneﬁts: Stand a chance to win a PlayStation®4 Pro Custom with every S$50 spent! Valid till 31 December 2019. Terms and Conditions apply. Apply Now Get a LiveUp Membership At a glance, LiveUp oﬀers 4% rebates on LazMall and RedMart purchases upon delivery. Now that RedMart is on the Lazada platform, the rebates are combined so that you can accumulate even more savings. Do take note that rebates must be redeemed on Lazada.sg within 30 days, and that rebates are capped at S$50 per month. With the $59.90 fee, the LiveUp membership makes sense if you spend S$1,500 annually on LazMall and RedMart combined. Alternatively, make sure that you make the most of their other partner oﬀers with Grab, Netﬂix, foodpanda, Chope, SISTIC, Agoda, Anywhr, and Storytel. Use Shopback Stack your rewards! After you’ve used the right promo codes, the right credit card, and have earned your rebates on LiveUp, you’ll still get to enjoy rebates on Shopback. Install the Shopback Google Chrome extension for better convenience when you’re online shopping – whenever you’re browsing a site that is eligible for Shopback rewards, the icon will ﬂash to notify you and turn green when “activated”. The terms and conditions required to have your online purchases eligible for cashback can be a little complicated, so be sure to read the Shopback instructions carefully. Join the Lazada Mailing List and Social Channels Make the most of Lazada’a Super Brand Days by joining their mailing lists and social channels. It’s another great way to make sure you get ﬁrst dibs on great brand discounts and other exclusive oﬀers. Take advantage of Lazada promos for upsized discounts on big brands. In the meantime, you can compare the best shopping credit cards on SingSaver and choose the best one that meets the rest of your spending habits, whether you’re a serial Grabber or an avid miles chaser. Compare Best Shopping Credit Cards Read these next: vPost v comGateway v ezbuy v Buyandship Singapore: Cheapest Shipping From US to Singapore Which Online Grocery in Singapore Delivers the Biggest Savings? 1-for-1 Hotel Buﬀet Dining Promotions in Singapore 2019 How to Save Money on Aircon Prices in Singapore Best SIM-Only Mobile Plans for Light, Moderate, and Heavy Data Users Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results Sitemap  JOIN US ON Financial News and Advice in Singapore When Should You Open A Second Bank Account? November 19, 2019 | Posted by SingSaver Team | Financial Advice , Personal Banking Tags: bank account, Current Accounts, Savings accounts, Standard Chartered Bonus$aver While the thought of opening a second bank account could be unnerving, the convenience and perks that you’ll enjoy surely make it worth your while. For most Singaporeans, opening a second bank account is not something that comes to mind until later on in life, when you’re looking to buy a car or house. And with so many banks to choose from these days, it’s not surprising that opening that second bank account could be daunting, overwhelming, and not to mention, a hassle. But as ﬁnancial requirements change over the years, a second bank account could not only help you prepare for that next step in life and put your mind at ease, but also let you enjoy some of the best banking facilities and services available in Singapore. When You Are Going On An Overseas Study Programme Or Internship Taking oﬀ on that overseas school exchange programme or internship is one life adventure every student would look forward to. Figuring out which bank can help cut down on expenses? Not so much. Just be sure to check these oﬀ your to-do list before you board the ﬂight and you’re all set. No ATM Withdrawal Fee Waivers Despite the progress we’ve made on cashless spend, cash is still an easy way to make payments when overseas. While most ATM withdrawal fees range from S$2 to S$5, depending on the amount, banks with international branches, such as UOB, DBS and Maybank, just to name a few, waive charges with cash withdrawals at made at their ATMs overseas. DBS takes it a step further in Australia with Westpac Group, allowing for free cash withdrawals at partner ATMs with a VISA and MasterCard cards. Cashbacks And Rebates These are another useful consideration, with banks such as Citibank waiving foreign exchange conversion fees when using their Debit cards to make payments online or in stores. DBS also provides up to 10% monthly cashbacks for cashless payments. While these usually run for a few months to a year depending on the bank of choice, there are new promotions and perks to look forward to especially when used overseas. No Bank Transfers Charges Bank transfers can be a bit trickier, but they are still one of the easiest ways to make sure you have enough money when overseas. Charges for bank transfers are considerably higher and range from $20 to $55, depending on the amount transferred. However, services like DBS Remit, allow for overseas transfers online at no transfer fee charges and even allow for same-day transfers, instead of the usual three-day processing period. Keep an eye out for cut-oﬀ times though, and make sure your Internet banking facilities are up to speed. When You Are Starting A First Job Getting that ﬁrst job oﬀer can be a tipsy mix of excitement and zeal as you set foot into that next stage in life. But before you sit down with Human Resources and ﬁll in your salary bank account details, ﬁnding out which banks oﬀer the best interest rates and perks would set you oﬀ to a good start. Higher Interest For Salary Credit Interest rates are often the ﬁrst stop in the list of reasons to open a second bank account. The OCBC 360 account oﬀers an eﬀective interest rate of 3.45% p.a on the ﬁrst $70,000 in the account. You stand to unlock the full bonus interest if you buy insurance or investments from the bank. You could, perhaps, consider opening this account if you’re a fresh graduate, given the relatively low salary crediting (min $2,000/month) and card spending requirements. On just $500 a month, you could secure the full 0.45% (0.3% on the ﬁrst $35K, 0.6% on the next $35K) bonus interest. While base annual interest rates start from 0.1%, interest rates can go right up to 3.88% with Standard Chartered Bonus$aver Account , for a monthly salary credit of $3,000 plus bill payments, investments and credit card spends within Standard Charted. Way Better Perks Depending on your new employment needs, ﬁnding a bank that comes with better perks that suit your new lifestyle, such as overseas work travel, can be to your advantage. With banks such as UOB, DBS, OCBC and Standard Chartered Bank oﬀering higher interest rates for salary credit plus credit card spends, it helps to look into for cards that would give you higher interest rates, on top of mileage points, cash rebates and other beneﬁts when you spend. Additionally, some banks have no foreign exchange fees are incurred when overseas, so you have extra peace of mind when travelling while enjoying preferred foreign exchange rates for up to 11 currencies. When You Have Something To Save For Having settled into that new job, it’s only natural to look at fulﬁlling some of those dreams you’ve had that would require a bit more of a splurge. Higher Savings Interest Rates Depending on how much you can aﬀord to save, opening a second bank account would not only help you keep money aside for that dream spend, but also oﬀer interest rates that go up to 3% per annum for savings that start at $800 per month, with accounts such as POSB eMySavings. Just make sure not to make withdrawals within the year or the interest rate would revert to the basic 0.05%. The Multiplier Eﬀect If you have bigger dreams and plan on buying a house or car, there’s no question that opening a second bank account would be more beneﬁcial than hanging on to the ﬁrst one you’ve had since you were 10. Similar to the salary credit, multiplier accounts like DBS Multiplier and HSBC Advance, let you garner more annual interest rates when you add more spends such as credit cards, loans, bill payments and insurance. Additionally, if you’re looking into getting a new home, these accounts let you enjoy better interest rates when you take up a home loan. When You’re Starting A Life Together Opening a second bank account is not something that couples often set out to do a year into the relationship. And while having separate bank accounts is convenient and lends a sense of privacy, exploring the perks of higher interest rates for savings along with card promotions and other beneﬁts would make spending together much easier. Clearly, opening a second bank account at any stage in your life would beneﬁt your changing ﬁnancial needs as they occur. The perks that come with the diﬀerent banks, along with the services they provide, would mean that all you really need to do is choose one (or more if you like) that meets with your needs. And as those needs change, feel free to look around once more. Here to help you ﬁnd something that suit your needs is SingSaver – where you can simply select what you’re looking for and compare the best saving rates from around Singapore. Read these next: The Diﬀerences Between Bank Account Types That You Need to Know 7 Good Reasons to Change Your Savings Account How Much Savings Should I Have at 35 in Singapore? HSBC Advance Account: The Bank Account That Grows With You How to Pick a Savings Account (When They All Look the Same) Subscribe to get SingSaver's weekly newsletter Personal nance news Money saving tips Alerts on deals Enter your email Compare  Credit Card  Personal Loan Compare and buy, in 3 easy steps Step 1. Select products and see the results Sitemap  JOIN US ON