I am single and relocating to Singapore for work. I would like to know which between a savings account and a current account would be the best bet for me taking into consideration the interest rate, culture etc.
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Getting overseas study insurance has never been easier with the ability to buy online and receive your e-policy instantly. The MSIG Global Study emergency hotline ensures that there is always someone to connect you to medical care and evacuation, no matter which time zone you are in. So therefore you save time by submitting your overseas study insurance claim online and they will keep the process as simple as possible to bring your claim to a fair settlement.
MSIG Global Study / MSIG Insurance Singapore
Don’t bother to buy insurance from them no matter how cheap they offer it as they do not response to email claims and when one calls them for an update, one is told that it takes two months to REVIEW a claim. Well in my case one month had passed and they wrote back to me asking to prove that I travel outbound and other documents. Now my question is why they did not asked for such documents within a week of my claim submission? Please avoid this company!
HLAssurance Single Trip / HL Assurance
Within Asia, HL Assurance is the cheapest of the three plans for 1-week trips, but falls behind the other two for 2-week trips. HL Assurance's Enhanced Plan, like the Basic Plan, places more emphasis on travel inconvenience, with more coverage in this area than FWD and Etiqa. Comparatively speaking, FWD and Etiqa both provide more coverage for medical expenses, trip cancellation and personal accident/death. So if you want greater protection against disruptions like baggage and trip delays and baggage loss, HL Assurance's Enhanced Plan is a better choice.
HLAssurance Annual Unlimited / HL Assurance
The Allianz annual plans saves frequent travellers some serious money. In fact, a couple only has to take two seven-day trips a year for an annual plan to become a better buy. And if you travel for work and are responsible for your own insurance, the Allianz AllTrips Executive Plan might be a fitting solution. It provides reasonable coverage for all categories and protects you in the event your business equipment is lost or stolen.
Allianz Annual Multi-Trip Travel Insurance / Allianz Global Assistance Singapore
You are covered for adventurous activities like bungee jumping, skydiving, paragliding, hot air ballooning, jet skiing, white water rafting, diving and general snow sports like skiing and snowboarding. There is also decent golf coverage for equipment, unused green fees, and hole-in-one (that should please all the golf lovers). However, you will only get the adventure cover and golf cover for Elite and Premier plans (too bad golf lovers).
MSIG TravelEasy Standard Pre-Ex / MSIG Insurance Singapore
This card is a very comprehensive travel insurance plan for travel to Japan. However even when you are not travelling to Japan, Sompo has come up with a pretty good solution for those with pre-existing medical conditions, as the Sompo Travel Joy Deluxe plan is worth considering, even if you’re not travelling to Japan. Should anything happen, you can get evacuated home for free thanks to the unlimited coverage for medical evacuations. Sompo loses out however when it comes to coverage of outdoor activities.
SOMPO TravelJoy Vital / Sompo Insurance Singapore
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There is a surplus of banks in Singapore that can provide banking services for a foreign resident. However choosing a banking option will largely depend on your personal assets, exact needs, duration of stay and so on. For everyday financial paraphernalia like receiving salary, paying rent, or cash withdrawal, a current account would be amply. However, though there exist no limit on cash imports or transactions from overseas, you should not deposit large sums in current accounts as only bank deposits of up to 50,000 SGD are covered by Singapore’s deposit insurance scheme. Subsequently, all account deposits made in foreign currency inclusive of offshore accounts are exempted from insurance in any form. On a lighter note, interest rates are low on both current and savings accounts. Irrespective, I would like to advice that before moving to Singapore you should talk to your independent advisor or bank back home.