Singlife with Aviva jacks up insurance savings crediting rates by 3% per annum

The increase in crediting rates is effective this October.

Singlife with Aviva has raised the crediting rates on its flagship digital product, the Singlife Account, allowing customers to earn up to 3% per annum (p.a.) should they take part in all Singlife Account-related campaigns.

The crediting rate on the first $10k invested into a Singlife Account insurance savings plan is raised to 1.5% p.a. For funds between $10k and $100k in the insurance savings plan, the rate is 1.1% p.a.

By participating in both the Save, Spend, Earn Campaign and the Singlife Sure Invest Bonus Return Campaign, qualifying customers to get a bonus return of 0.5% p.a. each. This means that Singlife customers can earn returns of up to 2.5% p.a. on the first $10k in their Singlife Account.

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According to Singlife with Aviva, the increase is its way to help customers cushion the blow from rising inflationary pressures.

“These adjusted rates keep pace with market movements, enabling customers to enjoy up to 2.5% p.a. returns on their funds, with capital guarantees, without lock-ins or withdrawal fees. On top of this, for a limited time, customers who want to boost their savings and earn effective returns of up to 3% p.a., can do so with the newly launched Singlife Account Special Incentive Campaign,” Singlife with Aviva said.

A bonus incentive of $50, $430 or $810, is available to customers who top up $10k, $30k or $50k respectively in fresh funds between 1 October and 31 December 2022 and maintain the amount in their accounts for one year.