Saving money is very important as it will help you to be prepared for the rainy days in life. Regardless of how you earn, you should always make an attempt to save money and build your financial assets so that you and your loved ones will never have to face financial hurdles in life. It will become easier for you to take care of your responsibilities and you can also retire in peace, knowing that you will have enough money at your disposal to take care of all kinds of expenses even when you do not have a steady source of income. If you are looking for the ideal way to save money, you can invest on SIF Fixed Deposit scheme.
Overview of SIF
Sing Investments & Finance Limited (SIF) is one of the popular financial institutions in Singapore and it has been active for more than 40 years. It offers a variety of banking products/ services to Singaporeans from all walks of life. Apart from individuals, businesses and corporations can also benefit from the range of products offered by the company. The company has 4 branches in Singapore and they are spread across the island, thus making it very convenient for the customers to access the products/ services offered by SIF. The excellent quality of customer service offered by the company is one of the reasons that make it very popular with its customers.
Types of fixed deposit Schemes Offered by SIF
At present, Sing Investments & Finance Limited offers a single deposit scheme in Singapore. It is a scheme which has been designed to provide people with a means to save money and also earn interest on the deposit amount. The customers are provided with access to a ton of features when they opt for the SIF Fixed Deposit scheme.
Why choose SIF Fixed Deposit scheme?
If you want to save money and also earn interest at an attractive rate on the amount that you deposit, you should opt for the time deposit scheme offered by Sing Investments & Finance Limited. By opening a fixed deposit account with SIF, you can save money without any difficulty and also enjoy a variety of advantageous features. The interest rate offered is comparatively high and you will also benefit from flexible tenures. The process of opening a fixed deposit account is very simple and if you have any queries or concerns, you can easily get in touch with the customer support team of SIF and they will offer you with immediate assistance.
Features and Benefits of SIF Fixed Deposit scheme
- You will enjoy the flexibility of depositing an amount more than S$50,000.
- You will enjoy interest rate as high as 1.2000 percent per annum on the deposit amount.
- If you are a senior citizen, you will earn additional interest on the deposit amount at the rate of 0.125 percent per annum.
- You will enjoy a wide range of variable tenures from 1 month to 60 months.
- The deposit will be renewed automatically at the end of the tenure and so you will not have to pay a visit to the branch.
- As SIF has 4 strategically located branches, you can visit any one of them and open a deposit account.
SIF Fixed Deposit Rates 2018
SIF Fixed Deposit Singapore Dollar Interest Rates
|Less than S$50,000||S$50,000 and more|
|1 month||0.125% p.a.||0.3% p.a.|
|3 months||0.25% p.a.||0.6% p.a.|
|6 months||0.3% p.a.||0.75% p.a.|
|9 months||0.4% p.a.||0.8% p.a.|
|12 months||0.45% p.a.||0.875% p.a.|
|15 months||0.5% p.a.||0.9% p.a.|
|24 months||0.7% p.a.||1% p.a.|
|36 months||0.7% p.a.||1.2% p.a.|
|48 months||0.7% p.a.||1.2% p.a.|
|60 months||0.7% p.a.||1.2% p.a.|
SIF Fixed Deposit Eligibility and Documentation
Please get in touch with the customer support team of Sing Investments & Finance Limited or visit any of their branches to know about the eligibility criteria and the documents required for opening a fixed deposit account with SIF.
SIF Deposit Insurance Scheme
The customers who make a deposit in Singapore Dollars will be eligible for the Deposit Insurance Scheme powered by the Singapore Deposit Insurance Corporation for deposits of up to S$50,000 in aggregate for each depositor. However, deposits in foreign currencies or dual currency deposits are eligible for this insurance cover.
Other products offered by Sing Investments & Finance Limited
Sing Investments & Finance Limited offers the following banking and financial products/ services, other than fixed deposits:
- Car Loans
- Block Discounting Facility
- Machinery Financing
- Conveyancing Account
- Share Loan
- Shipping Loan
- Housing Loan
- Local Enterprise Finance Scheme (LEFS)
- Savings Account
- Safe Deposit Box
- Invoice Factoring or Account Receivables
Frequently Asked Questions (FAQs)
- What are the tenures available with SIF Fixed Deposit Insurance Scheme?
- Does SIF offer any additional benefit to senior citizens with its Fixed Deposit scheme?
- Where are the branches of Sing Investments & Finance Limited located? In which branch can I open a deposit account?
- I want to deposit an amount of S$55,000. Will I be eligible for the Deposit Insurance Scheme?
- I want to open a fixed deposit account with SIF. Can I make a deposit in US Dollars?
The tenures available with the SIF Fixed Deposit Scheme are as follows: 1 month, 3 months, 6 months, 9 months, 12 months, 24 months, 36 months, 48 months and 60 months.
Yes, senior citizens earn additional interest at the rate of 0.125 percent above the interest rate offered to other depositors, for tenures of 12 months and above.
The branches of Sing Investments & Finance Limited are located on Robinson Road (main branch), Ang Mo kio Ave, Bedok North Street and Clementi Ave. You can open a deposit account in any of these branches.
No, you will not be eligible for the Deposit Insurance Scheme if you deposit S$55,000 as it only covers deposits up to S$50,000 per depositor.
No, you cannot make a deposit in US Dollars as SIF only accepts deposits made in Singapore Dollars and not in any other currency.
SIF Fixed Deposit Promotion
Runtime- The promotion rates are applicable at the moment and will be available for a limited period of time.
Particulars – Open a fixed deposit account with SIF and you can get a high interest rate of up to 1.88 percent per annum through the FD promotion offered by SIF.
SIF Promo Rates and Tenure
|S$50,000 – Minimum deposit amount|
|12 months||Gift Voucher worth S$20||1.25% p.a.|
|18 months||1 can of Australia Abalone||1.3% p.a.|
|24 months||2 cans of Australia Abalone||1.35% p.a.|
|36 months||3 cans of Australia Abalone||1.45% p.a.|
Terms & Conditions
The company can change the promo interest rates without providing any prior notice. These rates are applicable only to fresh funds and to personal accounts. Other terms and conditions can also be applicable.
Promo Period – For a limited period of time.
News about SIF Fixed Deposit
SIF Fixed Deposit Promotion
Run Time – This is an ongoing offer.
Particulars – Make a Fixed Deposit with Sing Investments & Finance Ltd and avail higher rates of interest.
•If you deposit an amount of SGD 10, 000 you will get an interest of 1.28 percent p.a. for one year, 1.38 percent p.a. for two years and 1.48 percent for 3 years
•If you deposit an amount of SGD 20, 000 you will get an interest of 1.50 percent p.a. for one year, 1.58 percent p.a. for two years and 1.68 percent for 3 years
•If you deposit an amount of SGD 50, 000 you will get an interest of 1.70 percent p.a. for one year, 1.88 percent p.a. for two years and 1.90 percent for 3 years
•If you deposit an amount of SGD 100, 000 you will get an interest of 1.80 percent p.a. for one year, 1.95 percent p.a. for two years and 2 percent for 3 years
Terms and Conditions –
•This offer is available for personal accounts and fresh funds only
To get more information about the offer and its terms and conditions, please contact Sing Investments and Finance Ltd or visit their website.