Complete Guide to Savings

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If I was to file for bankruptcy would that mean for my bank account that is currently linked to all my billing accounts?

Filing for bankruptcy will give you a fresh start to your business and remove you from all the payment needed from that business of yours but ofcourse possesion and benefits from that small business will be voided will no longer be in your hands instead it may be either sold to some other individual who is willing to pay the debts or completely stopped from existing though that may not always be the case but there is still a better chance of it being sold instead, anyway you will be able to make a fresh start but without the investment money of course, you are just given the ability to avoid paying the debts that come along with the business, filing for bankruptcy doesn't always work out it mainly involves how much money it is in debt with and how big the money that was invested in it

I need to maintain my medicines.

As soon as you have the mind to know the value of money, save it. Don't just keep spending on things that you want. You should always have savings so that what ever happens you can have an emergency money. Your parents are not always there to be with you and still give you your medicines. So never forget to save some money.

Can I use my savings for my maintenance medicine?

A medical savings account is present Singapore which aims to provide a tax-advantaged savings account and provide both an investment and health coverage. It provides a fund for medical expenses, or if not, is an investment for future use for medicine. Additionally, it will allow a person to meet future personal or immediate family's hospitalization, day surgery and for certain outpatient expenses.

May I lend my money from savings in the bank through online transaction?

It is a safe thing to open a bank account and open your own savings account. Not everyone has a savings account. There are times that you need to pay something online or to someone, most of the banks have an online application and has features that you can send money to their accounts or to their banks (fees may be applied)

How can a disabled person have a savings account?

All banks have a savings account. It does not matter if you are handicapped or an oridinary person. You can easily open a bank account here in Singapore, and open savings account. You just need to sumbit the requirements that they need. Most of the banks here in Singapore are recognized abroad so you do not need to worry about it.

May I use the savings of my brother to pay a repossessed item?

If you have someones debit card or credit card that is being used by other persons, you should give an authorization to those people before they use it. Some stores needs a proof of authorization before using it. It is more applicable if the owner of the card is the one to use it even though he or she is a relative or a someone close

Latest Reviews

Generally FWD offers decent coverage for a safe travel destination

FWD Travel Insurance Premium / FWD Singapore

I must say that the FWD Travel Insurance Premium is very easy to apply and also avails competitive rates as well. Generally FWD offers decent coverage for a safe travel destination however if you’re going somewhere with a higher risk involved like a ski trip for instance, you might want to consider specialized plans. But generally, the application process and ease of getting a quote upfront is great with competitive prices too.

On-line cliams process was very easy and fast

Etiqu ePROTECT travel Basic Plan / Etiqa Insurance

I made a claim for flight delay and the on-line process was very easy and fast. The claim was actually approved within a day and the claimed amount credited into my e-wallet the following day.Your credit in the e-wallet is best cashed out using Paynow as it is very simple and convenient.

Claims resulting from pre-existing medical conditions while overseas

Tiq Travel Insurance / Etiqa Insurance

In case you were not aware, most travel insurers do not cover claims resulting from pre-existing medical conditions while you are overseas, but thankfully Tiq Travel Insurance does so you can go right ahead and opt for one of their Pre-Ex plans to adequately cover yourself on your travels.Some common examples of pre-existing medical conditions are Diabetes, Stroke, Asthma, Cancer and Epilepsy

If you plan to buy travel insurance with Citibank, be prepared to pay a premium

Citi Travel Insurance / Citibank Singapore

With Citibank, you have a choice between complimentary travel insurance with a Citi PremierMiles, Citibank Cash Back or Citibank Rewards Card or paying for a premium insurer. If you take a closer look at the coverage limits on the complimentary insurance plans, you’ll realise that the limits fall way short of industry standards for paid travel insurance. Which essentially means that you take it up on your own risk. If you plan to buy travel insurance with Citibank, you’ll have to pay a premium however as it is expensive and the coverage doesn’t quite fit what you pay for but if good emergency assistance is your top priority, then you might find Citibank travel insurance worth your money.

A golf advantage cover that provides coverage for damaged or lost golf equipment in your checked luggage

Allianz Travel Protect Single Trip Gold Plan - Standard Chartered / Standard Chartered Bank Singapore

Unfortunately, Allianz has pretty strict restrictions when it comes to sports coverage as you won't be covered for sailing, hunting, playing polo, mountaineering, skiing, rock climbing, parachuting or hang gliding. You do however, have a golf advantage cover that provides coverage for damaged or lost golf equipment that is in your checked luggage. Allianz has an efficient online claim portal allows customers to submit and file their claims online easily and if you have problems uploading your claim you can call or email them for assistance. If you are claiming for medical or dental expenses, you will still have to send original copies of your supporting documents and an acknowledgement email to the address in the table below.

Personal accident cover starts 3 hours before departure with a high medical coverage of up to S$600,000

HSBC SmartTraveller (Essential Plan) / HSBC Bank Singapore

This card allows you to pays up to $S20,000 under Trip Curtailment even if you have to remain overseas for medical treatment and pays up to S$12,000 for the unrecoverable deposits under Trip Cancellation. Your Personal Accident cover starts 3 hours before departure with a high medical coverage of up to S$600,000 for medical and accidental dental treatment whilst overseas with an automatic extension of policy for up to 30 days if you are hospitalized or placed under compulsory quarantine while overseas upon the written advice of a Doctor. You receive up to S$10,000 for lost personal effects and reimbursement to replace the essential items and an automatic extension of policy for up to 72 hours if you are unable to complete your trip as planned due to Public Transport delays that are not your fault