Get an Apple iPad (worth $508.30), Dyson Supersonic (worth S$699) & more from now till 31 Mar 24

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Want a brand new Dyson Supersonic™ hair dryer or an Apple iPad? From now till 31 March 2024, SingSaver will be offering new cardmembers who sign up for a credit card with a free Dyson Supersonic™ hair dryer (worth S$699, Apple iPad 9th Gen 10.2 64GB WiFi (worth S$503.65) and other attractive gifts upon meeting the requirements.

There is no limit to the number of sets to be given away, so every eligible applicant who applies can receive a set each!

What’s more, you are also automatically qualified for their March Madness Grand Lucky Draw with each application. Get ready to set your sights on the ultimate prize – a luxurious pair of Return Business Class tickets to Tokyo, Japan, valued at an impressive S$13,144! Don’t miss out on your chance to win big – the promotion runs till March 31, 2024. Winners will be announced on SingSaver’s contest winners page by September 2024.

For those who are unfamiliar with SingSaver, you can check out their reviews on Google:

Choose from any of the products below:

HSBC TravelOne Credit Card

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The HSBC TravelOne Credit Card opens up a world of elevated travel with its incredible features. This card stands out as the first HSBC credit card to offer instant redemptions with a wide array of airline and hotel partners, all accessible through your mobile app, providing unprecedented convenience. Additionally, you can earn up to 2.4 miles (6X Reward points) for every dollar spent, accelerating your journey towards your travel dreams. The card further enhances your travel experience with complimentary travel insurance coverage, including protection against COVID-19, airport lounge visits, and more. Moreover, its flexibility shines through with the option to split purchases across various tenors to suit your individual needs through HSBC Instalment Plans, ensuring that your travel experiences are tailored to your preferences.

Welcome gift: Receive a Dyson Supersonic™ hair dryer (worth S$699) or Nintendo Switch OLED (worth S$549) or Apple iPad 9th 10.2″ WiFi 64GB (worth S$508.30) or S$350 eCapitaVoucher. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend min. S$500 plus pay an annual fee of S$196.20 by end of the following calendar month from the card account opening date

HSBC Visa Platinum

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HSBC Visa Platinum Credit Card is a high cashback rewards credit card, with no annual fees – ideal for families as you can get 5% cash rebate on categories like dining, groceries and fuel. Important to note would be the minimum spending requirement of S$600 per calendar quarter to qualify for rebates and the S$250 rebate cap per calendar quarter.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Nintendo Switch OLED or Appe iPad 9th 10.2″ WiFi 64GB or S$350 eCapitaVoucher. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend min. S$500 for 30-day periods following card approval

HSBC Revolution Card

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HSBC Revolution Card is a rewards credit card ideal for savvy online shoppers. It allows you to earn up to 10X Points on online purchases or the usage of contactless payment like Visa PayWave and Apple Pay. Alternatively you can choose miles as your reward, with 4 miles for every dollar spent ($1 = 4 miles). Benefits of the HSBC Revolution card include no annual fees, travel insurance, no required minimum spend and more.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Nintendo Switch OLED or Appe iPad 9th 10.2″ WiFi 64GB or S$350 eCapitaVoucher. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend min. S$500 for 30-day periods following card approval

HSBC Advance Credit Card

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The HSBC Advance Credit Card is a cashback credit card designed to help you save as you spend with up to 3.5% cashback without minimum spend. Spending less than S$2,000 monthly gets you 1.5% cashback while spending more than S$2,000 will get you 2.5% cashback. The maximum cashback you can earn per month is capped at S$70.

The extra 1% cashback can be earned when the HSBC Advance Cardholder also has an HSBC Everyday Global Account that fulfills S$2,000 of monthly deposit AND charges 5 qualifying Credit Card transactions.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Nintendo Switch OLED or Appe iPad 9th 10.2″ WiFi 64GB or S$350 eCapitaVoucher. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend min. S$500 for 30-day periods following card approval

Citi PremierMiles Card

Earn your miles faster with one of the best cards for your travel needs. The Citi PremierMiles Card lets you redeem from the widest range of airlines, where 1 Citi Mile = 1 Mile, with KrisFlyer, Asia Miles, Qantas, Qatar, Flying Blue, and more.  With no caps on miles earned, redeem your miles for flights, hotels and merchandises.

  1. Earn 1.2 miles for every S$1 spent on all your eligible purchases with your Card
  2. Earn 2 miles for every S$1 equivalent in foreign currency spent overseas on eligible purchases
  3. Complimentary access to over 1,300 airport VIP lounges twice per calendar year with Personalised Priority Pass membership card. Priority Pass membership is on application basis and reserved for Principal cardholders only.

Welcome gift: Receive an Apple iPad 10th Gen Wifi 64GB (worth S$691.60), or Dyson Supersonic (worth S$699), or S$400 eCapitaVoucher or S$300 cash via PayNow. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Citi Cash Back Card

Keep this card in your wallet. The Citi Cash Back Card is one of the best cash back card in the market, offering a whopping 8% cash back on your Groceries and Petrol, and 6% on dining, daily, worldwide. Subject to cash back cap of S$80 across all retail spend per statement month with a min. spend of S$800 per statement month.

Imagine this: every $800 spends get you $80 cash back in a month. That works out to be almost a thousand dollar of cash savings in a year!

Welcome gift: Receive Dyson Supersonic™ hair dryer or Apple iPad 9th Gen 10.2″ WiFi 64GB or Dyson V8 Slim Fluffy or S$400 eCapitaVoucher or S$300 Cash via PayNow. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Citi Rewards Card

The Citi Rewards Card is a must-have card for those who always shop online using credit cards. Imagine earning 10X Rewards^ (4 Miles) for every S$1 spent online each time you shop. For example, you can earn 4 miles per dollar on shopping transactions, online food delivery, online groceries, ride-hailing platforms with the Citi Rewards Credit Card. Often paired with the amaze card, you’ll be able to earn 4 miles per dollar on both local and overseas spend, up to S$1,000 per statement month. If you are looking for a versatile card, look no further than the Citi Rewards Card!

  • Enjoy 10X Rewards^ (4 Miles) on online and retail purchases at Lazada, Qoo10, TANGS and more.
  • Earn 10X Rewards* (4 Miles) on rides with Grab, ComfortDelGro, Gojek and more
  • Earn 10X Rewards^ (4 Miles) on online food delivery
  • Earn 10X Rewards^ (4 Miles) on online groceries

Earn 1X Reward on all other spend.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Apple iPad 9th Gen 10.2″ WiFi 64GB or Dyson V8 Slim Fluffy or S$400 eCapitaVoucher or S$300 Cash via PayNow. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Citi Cash Back+ Mastercard® 

Not to be confused with the Cash Back Card, the Citi Cash Back+ Mastercard® is a new product launched by Citibank this year which offers a competitive 1.6% cashback on all spend categories with no cap and no minimum spend. In other words, you can accumulate as much cashback as you want each time you swipe you card. It does not expires and you can redeem it instantly on-the-go with Citi Pay with Points or for cash rebate via SMS.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Apple iPad 9th Gen 10.2″ WiFi 64GB or Dyson V8 Slim Fluffy or S$400 eCapitaVoucher or S$300 Cash via PayNow. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Standard Chartered Simply Cash Credit Card

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Elevate your financial journey with the Standard Chartered Simply Cash Credit Card, a gateway to a world of exciting possibilities and unbeatable rewards. Imagine earning a generous 1.5% cashback on all your expenditures, transforming your everyday transactions into a treasure trove of savings. But the benefits don’t stop there – this card is designed to revolutionize the way you manage your finances. Whether it’s settling your IRAS dues, investing in education, securing insurance coverage, or managing rental payments, the Simply Cash Credit Card showers you with not just cashback, but also reward points and even bonus interest.

Welcome gift: Receive Dyson Supersonic™ hair dryer or Nintendo Switch OLED or Apple iPad 9th Gen 10.2″ WiFi 64GB or up to S$330, plus up to S$90 eCapitaVoucher. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Standard Chartered Smart Credit Card

The Standard Chartered Smart Credit Card allows you to earn 6% cashback in the form of reward points on selected merchants with no min. spend required. You can also enjoy S$0 fees on annual fee and cash withdrawal with 3-month interest-free instalments with 100% cashback on service fees. Now that is the smarter way to spend and you can say goodbye to fees!

Welcome gift: Receive Dyson AM07 Tower Fan or Apple AirPods Pro 2nd Gen or Apple iPad 9th Gen 10.2″ WiFi 64GB or S$300, plus up to S$40 eCapitaVoucher. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Standard Chartered Rewards+ Credit Card

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Up your rewards game with the Standard Chartered Rewards+ Credit Card, your passport to exceptional benefits. Earn up to 10x rewards points on foreign currency for overseas retail, dining, and travel adventures, and enjoy up to 5x rewards points on dining transactions in SGD, adding a new dimension to your dining experiences. Plus, the perks kick in from the get-go with S$200 cashback upon spending S$388 within 30 days of card approval, setting the stage for a rewarding journey. Terms and conditions apply, so seize the opportunity to unlock a world of enhanced rewards and privileges.

Welcome gift: Receive Dyson AM07 Tower Fan or Apple AirPods Pro 2nd Gen or Apple iPad 9th Gen 10.2″ WiFi 64GB or S$300, plus up to S$40 eCapitaVoucher. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

Standard Chartered Journey Credit Card

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Experience the extraordinary with the Standard Chartered Journey Credit Card, where every purchase becomes a gateway to your dream vacation. Earn 3 miles per S$1 for selected bonus categories, 2 miles per S$1 for overseas spending, and 1.2 miles per S$1 for local expenses, accelerating your rewards like never before. Revel in exclusive travel benefits, from 3 miles per $1 on online transactions to non-expiring rewards points that kick in from your very first dollar spent. Indulge in 2 complimentary Priority Pass lounge visits annually and travel with peace of mind through up to S$500,000 in coverage. Embrace a world of travel and rewards beyond the ordinary – your journey starts here.

Welcome gift: Receive Dyson AM07 Tower Fan or +PLUS Chelsea Cabin-In 54/23 Luggage or S$120, plus up to S$40 eCapitaVoucher. Plus, receive 3x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and spend a minimum S$500 within 30 days of card approval

CIMB Visa Infinite Card

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The CIMB Visa Infinite Card lets you earn unlimited 2% cashback on Travel, Overseas and Online Spend in Foreign Currencies and unlimited 1% cashback on all other spend. With no annual fees for life and 3X complimentary access to airport lounges around the world, this card offers unparalleled benefits for frequent travelers. Other perks include exclusive dining and shopping privileges, and free travel insurance coverage.

Welcome gift: Receive AirPods Pro Gen 2 or +PLUS Chelsea Check-In 60/25 Luggage or S$280 Cash via PayNow. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and make a min. spend of S$988 on eligible goods and services within 60-day period following card approval

CIMB Visa Signature Card

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The CIMB Visa Signature Card is designed for customers who love to shop, dine, and travel. With attractive 10% cashback on Online Shopping, Groceries, Beauty & Wellness, Pet Shops & Veterinary Services and Cruises, this card makes it easy to earn cashbacks The card also offers exclusive dining and shopping privileges, as well as travel insurance coverage for added peace of mind. Plus, with no annual fees for life, this card is a great choice for anyone looking for a reliable and rewarding credit card.

Welcome gift: Receive AirPods Pro Gen 2 or +PLUS Chelsea Check-In 60/25 Luggage or S$280 Cash via PayNow. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and make a min. spend of S$988 on eligible goods and services within 60-day period following card approval

CIMB World Mastercard™

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The CIMB World Mastercard™ is a premium card that offers a host of exclusive privileges, including the highest unlimited cashback in Singapore of 2%^ on Dining, Online Food Delivery, Movies, Digital Entertainment, Taxi Rides, Ride-Hailing, Automobile & Luxury Goods! The CIMB World Mastercard also offers cardholders 50% off green fees at 42 prestigious golf courses across the region, making it an excellent choice for avid golfers. With no annual fees for life and generous cashback and rewards programs, this card is a great choice for anyone looking for a rewarding credit card. Customers can also enjoy exclusive dining and shopping privileges, as well as travel insurance coverage for added peace of mind.

Welcome gift: Receive AirPods Pro Gen 2 or +PLUS Chelsea Check-In 60/25 Luggage or S$280 Cash via PayNow. Plus, receive 2x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in the March Madness Grand Lucky Draw!

Requirements: Activate and make a min. spend of S$988 on eligible goods and services within 60-day period following card approval

American Express® True Cashback Card

This is the card you want to hold if you prefer a no-frill-no-fuss reward on your spending. The American Express® True Cashback Card lets you earn an absolute 1.5% cashback on any spend, without caps. This means that you can earn cashback on every eligible dollar spent without worrying if you have met the requirements or if you have maxed out the cashback earning limit. Sign up now and take advantage of their Welcome Bonus of 3% cashback to double your cashback earning potential for the first 6 months, capped at your first $5,000 spend. Register your card for an additional 1% cashback at selected pet stores and foreign currency spends.

To summarize your earning potential:

  • 1.5% base cashback for any spend with no cap;
  • +1.5% cashback (total 3% Welcome Bonus) for the first 6 months, capped at the first $5,000 spend;
  • +1% cashback at selected pet stores and foreign currency spends when you register your card with AMEX

When you use your card for everyday purchases, you won’t believe how quickly your cashback can add up. With no spend caps imposed, earning cashback is so much simpler than you  think.

Welcome gift: Receive S$150 Cash via PayNow. Plus, receive 1x chances to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in our March Madness Grand Lucky Draw!

Requirements: Apply and make a min. spend of S$500 spend within 1 month of Card approval

March Madness Grand Lucky Draw

Other than credit cards, you can also apply for other financial products to receive 1x chance to win a pair of Round Trip Business Class tickets to Tokyo (worth S$13,144) in their March Madness Grand Lucky Draw!

  1. CIMB Personal Loan – Get an Apple iPhone 15 128 GB (worth S$1,311) / Dyson V12 Fluffy (worth S$969) / Apple iPad 10th Gen Apple iPad 10th gen 10.9 wifi 256 GB + Apple AirTag Bundle (worth S$737) / Dyson AM07 Tower Fan (worth S$459) / S$1,200 cash via PayNow
  2. HSBC Personal Loan – Get an Apple iPhone 15 Pro 256 GB (worth S$1,825.75) / Dyson 360 Vis NavTM robot vacuum (worth S$1,649) / Apple Bundle worth S$1057.30: Apple iPad 10th Gen 64GB (worth S$691.60) + AirPods Pro Gen 2 Bundle (worth S$386) / PlayStation 5 (Digital Version) (worth S$669) / Dyson V8 Slim Fluffy (worth S$509) / S$50 Cash via PayNow
  3. Tiger Brokers – Receive S$120 Cash or a S$200 Cash
  4. Webull – Receive S$90 cash via PayNow and Get an additional S$30 cash (total S$120)
  5. Moomoo – Get S$80 Cash via payNow and Get an additional S$50 cash (Total S$130 cash)
  6. CMC Invest – Receive S$20 cash via PayNow when you open a CMC Invest account.

Here’s how to redeem your rewards:

  1. Scroll through the list above and find a specific product that matches your need
  2. Click on Apply Now and fill in your email address (SingSaver will be sending the redemption instructions here. Check SPAM folder if you don’t receive any emails)
  3. Complete the application form from the bank and remember to take a screenshot so you can take note of the application reference number
  4. Once your card is approved, check your email inbox for the reward redemption instructions from SingSaver (Check  junk/spam inbox too)
  5. Sign up for an account on SingSaver’s website to access the redemption form
  6. Fill up the form with the application reference number and you are good to go!

For redemption follow-ups and enquiries, drop an email to [email protected]


This promotion is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Dyson, Apple, Nintendo, or any of its subsidiaries or its affiliates. The names Dyson, Apple, Nintendo as well as related names are registered trademarks of their respective owners.

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Upgrade Your MediShield Life with an Affordable Integrated Shield Plan

MediShield Life is a basic health insurance scheme that offers Singaporeans and Permanent Residents access to quality healthcare at subsidized rates within B2/C wards. However, to ensure widespread affordability, it does have limitations on coverage, including certain expenses and reimbursement caps.

For instance, MediShield Life doesn’t cover pre and post-hospitalization treatments such as diagnostic scans, consultations, rehabilitation, and specialist follow-ups. Additionally, there are caps on reimbursements for specific medical procedures, potentially leaving individuals with out-of-pocket expenses. If a complicated surgery exceeds the cap specified by MediShield Life, the excess amount will not be reimbursed.

To bridge these gaps, individuals may consider purchasing an Integrated Shield Plan (IP), offering extensive coverage surpassing that of MediShield Life, thereby guarding against substantial medical expenses that could present significant financial risks.

The most economical option for extending coverage to these additional areas is the B1 “as charged” IP, available from seven insurers, including plans such as Enhanced IncomeShield and GREAT SupremeHealth.

CAN YOU AFFORD AN UPGRADE?

When thinking about upgrading to an IP, it’s crucial to consider two things: your budget and your comfort level with the types of hospitals, wards, and doctors. Can you afford the IP premiums in the long term, especially as they rise with age?

Private insurers offer extra protection or riders to cover deductibles and co-insurance, which may require separate payments. All new riders from March 2018 onwards will need to incorporate a co-payment of 5% or more. Additionally, it’s important to note that IP premiums may increase over time, and additional riders to cover deductibles and co-insurance may require separate payments.

By securing an IP early on, individuals can ensure insurability regardless of future medical conditions, providing long-term peace of mind. However, it’s essential to understand that purchasing insurance is a significant commitment that should align with individual needs and circumstances. Therefore, seeking advice from a financial advisor is recommended to assess specific requirements and explore suitable insurance options.

Image Credits: unsplash.com

Disclaimer: This information serves as a general guide and does not constitute financial advice. Terms and conditions of insurance policies may vary, and coverage is subject to individual circumstances and insurance provider policies. Seek professional assistance when necessary.

Sources: 1 & 2

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S’pore’s Budget 2024: Your Roadmap to Financial Aid & Cash Bonuses

In response to concerns over the cost of living, Deputy Prime Minister Lawrence Wong unveiled significant measures during his Budget 2024 address last February 16, 2024, aimed at providing increased financial support to Singaporeans. Here’s a comprehensive timeline outlining the various cash payouts and assistance schemes slated for implementation:

APRIL
– U-Save: S$110- S$190
– S&CC Rebate: 0.5 – 1 month

JUNE
– CDC Vouchers: S$300

JULY
– U-Save: S$165-S$285
– S&CC Rebate: 0.5 – 1 month

AUGUST
– Cash Payout: S$450 or S$850

SEPTEMBER
– Cash Payout: S$200- S$400

OCTOBER
– U-Save: S$110- S$190
– S&CC Rebate: 0.5 – 1 month

NOVEMBER
– NS Life SG Credits: S$200

DECEMBER
– Cash Payout: S$200- S$600
– CPF MediSave: S$100-S$1500
– CPF RA or SA: S$1000-S$1500
– Personal Income Tax Rebate for YA 2024: Up to S$200

JANUARY 2025
– U-Save: S$165- S$285
– S&CC Rebate: 0.5 – 1 month
– CDC Vouchers: S$300

#1: ASSURANCE PACKAGE

Enhanced by an additional S$1.9 billion, the Assurance Package offers:
– S$600 in CDC vouchers distributed in June and January 2025 to all Singaporean households.
– Cost-of-living “special payment” ranging between S$200 and S$400 for eligible adult Singaporeans.
– Additional U-Save benefits totaling up to S$950 for eligible HDB households.
– An extra half-month of S&CC rebate in January 2025, totaling up to four months’ rebate for eligible HDB households.

#2: LIFESG CREDITS FOR NSMEN

All NSmen, past and present, will receive S$200 digital credits redeemable via the LifeSG mobile app. Distributed in November, these credits are valid for one year.

#3: MEDISAVE BONUS

In December 2024, adult Singaporeans aged 21 to 50 will receive a one-time MediSave bonus ranging from S$100 to S$300, based on various criteria, including age and property ownership.

#4: SINGAPORE WORKFORCE DEVELOPMENT

The introduction of the SkillsFuture Level-Up program for mid-career workers will include a top-up of SkillsFuture Credit by S$4,000 for Singaporeans aged 40 and above, starting in May. Moreover, there will be a monthly training allowance for those aged 40 and above enrolling in selected full-time courses, capped at S$3,000 per month.

#5: TAX RELIEF

The income threshold for dependant-related tax reliefs will double from S$4,000 to S$8,000 for the year of assessment 2025, benefiting more taxpayers.

#6: TAX REBATE

A 50% personal income tax rebate, capped at S$200, will be applicable for the year of assessment 2024, primarily benefiting middle-income workers.

Image Credits: unsplash.com

These initiatives underscore the government’s efforts to alleviate financial burdens and support the well-being of Singaporeans amidst economic challenges.

Sources: 1 & 2

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Why you’re better off with a debit card over a credit card

credit cards in Singapore

We’re sure you’ve seen the ads on those credit card offers.

They make it seem so appealing, like free money!

But before you get blinded by the “rewards,” ask yourself if you’re really ready for a credit card. 

Sure, they can be useful if used properly, but for most people, especially those still building financial stability, it’s probably not that wise.

So allow us to share with you why you’re better off with a debit card over a credit card.

Helps you avoid debt

A debit card is linked directly to your bank account, so you’re only spending money you actually have.

This means there’s zero chance of racking up debt or late fees since the funds are deducted right away.

Using a debit card also helps you budget better since you have a fixed amount of money to work with each week or month.

You can allocate funds accordingly and once it’s gone, it’s gone—so you avoid impulsive big purchases.

With credit, it’s easy to swipe now and worry about the bill later, so you’re less likely to feel the impact of each purchase immediately.

Encourages responsible spending
  • Keep within your budget

Using a debit card helps ensure you don’t go over budget since you have to keep track of your balances to avoid overdrawing.

This makes you think through each purchase and whether it’s necessary.

Credit cards, on the other hand, allow you to spend now and worry about paying for it later which often leads to poor spending decisions.

With a debit card, you develop better budgeting habits and financial discipline since overspending has immediate consequences.

  • Pay in full
a woman holding onto a credit card

Image Credits: unsplash.com

With a debit card, the money for your purchases is deducted right away from your available funds.

You don’t have to worry about interest charges or making monthly payments.

Everything is paid in full.

On the spot.

This can give you peace of mind knowing you don’t owe anything and your spending is kept in check.

Credit cards, however, allow you to pay over time with interest which ends up costing you much more in the long run.

Avoiding unnecessary interest charges

And lastly, there’s no interest applied and no bill to pay later (except maybe for selected BNPL schemes).

With credit cards, the amount you spend is essentially a loan that accrues interest if you don’t pay the full bill on time.

And when those interest charges accumulate, minimum payments barely make a dent in what you owe.

Stick with debit and avoid the stress of a revolving credit card debt.

All in all, a debit card is a better choice if you’re trying to keep your finances in check. Yes, credit cards come with perks, but those rewards aren’t worth it if you can’t pay your bill. A debit card helps you stick to a budget and avoid debt. You will sleep better at night knowing exactly what’s in your bank account rather than worrying if you can cover that next credit card payment. So go for the debit lane and avoid the credit card chaos.

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Expanded Occupancy Cap for Larger HDB & Private Residences: Allowing Up to 8 Unrelated Individuals

Between January 22, 2024 and December 31, 2026, the Housing & Development Board (HDB) and the Urban Redevelopment Authority (URA) announced a temporary relaxation of the occupancy cap for larger HDB flats and private residential properties. During this period, these accommodations will be permitted to accommodate up to eight unrelated persons, an increase from the current limit of six. This measure aims to address rental demand and support households seeking rental accommodations.

This relaxation applies to four-room and larger HDB flats, living quarters of HDB commercial properties equivalent to at least a four-room flat, and private residential properties of at least 90 square meters. However, any extension of this relaxed occupancy cap beyond 2026 will be subject to review based on market conditions at that time.

Minister for National Development Desmond Lee highlighted the surge in residential rents, largely attributed to heightened demand amidst construction delays caused by the Covid-19 pandemic. To alleviate this situation, the government accelerated housing supply, with nearly 100,000 homes slated for completion by 2025. Mr. Lee emphasized that this increased supply would enable Singaporeans to vacate rental units sooner, thereby freeing up rental stock.
He stated that the government “(anticipates) the need to maintain a healthy rental supply to support those seeking to rent.”

Image Credits: unsplash.com

To ensure a harmonious living environment, the temporary measure applies only to larger properties capable of accommodating more occupants with minimal impact on their surroundings. Residential property owners currently housing up to six unrelated persons must apply to HDB or URA, depending on the property type, to include additional occupants. Private property owners can register their properties through URA’s e-services for a S$20 administrative fee.

HDB and URA reiterated that the existing rule requiring HDB flat owners and commercial property owners to obtain approval before commencing tenancy remains unchanged.

Applications for renting out HDB flats or bedrooms can be submitted online through HDB’s e-services, with an administrative fee of S$10 per bedroom or S$20 per whole flat rented out. Similarly, HDB commercial property owners and tenants seeking to rent out living quarters can apply via the GoBusiness Licensing Portal, with an applicable administrative fee of S$100 per application.

Furthermore, to meet growing housing demand, the government has bolstered the supply of both public and private housing units, collaborating closely with the construction industry to address supply-side challenges.

With a significant surge in housing supply anticipated in the coming years, rental demand is expected to be sufficiently addressed. This year, around 40,000 homes are projected to be completed across public and private residential sectors, marking the highest completion rate in five years. Furthermore, from 2023 to 2025, approximately 100,000 public and private residential units are scheduled for completion. HDB is also doubling the supply of flats under the Parenthood Provisional Housing Scheme (PPHS) to about 2,000 units, compared to 2021.

Image Credits: unsplash.com

For enquiries regarding the rental of HDB flats/living quarters, the public can write in using HDB’s e-Feedback form, or contact the HDB Branch Service Line at 1800-225-5432 (for HDB flats) or HDB Commercial Enquiry Line (for living quarters) at 1800-866-3073. For enquiries regarding the rental of private residential properties, the public can reach out via URA’s e-Feedback form or contact the URA Development Control Line at 6223-4811.

Sources: 1,2, & 3

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