Earlier this month, banks in Singapore slashed slashed The Straits Times UOB joins peers in cutting interest rates on flagship savings account Read more their savings account interest rates amidst macro uncertainties and a low interest rate environment induced by the Covid-19 pandemic. Since then, applications for Singlife Account, a mobile-first insurance savings plan that allows users to spend, save, and earn on an app, “peaked overnight”.

Launched in March 2020, Singlife Account saw more than 40,000 app downloads in the first month.

AUTHOR

Ka Kay Lum

Based in Kuala Lumpur, Ka Kay covers investment activities, aka following the money, across Southeast Asia and in-depth stories on the often-overlooked Malaysian startup ecosystem. She was previously a regional writer for Nikkei-owned DealStreetAsia.

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