5 Questions to Ask Before Buying Health Insurance

Buying health insurance is now a must-have. But before you take out one, be sure to review your chosen company first.

Singaporean life expectancy reaches 81 years old for males and 86 for females.

What does this mean?

You can live way longer than your retirement age. Moreover, you don’t want to worry about financing your health needs by that time! More than 20 years ago, Singaporeans heavily depended on their employers for health care benefits. Now, there is MediShield Life.

Credit: https://today.uconn.edu/2017/04/health-insurance-plans-complicated-understand/

Defining MediShield Life

Directed by the Central Provident Fund (CPF) Board, MediShield Life protects all Singapore citizens and permanent residents. This national health insurance subsidies treatment in public hospitals. However, this will not cover the whole bill, especially if you stay in a Class A/B1 ward.

There is no need for an application since all citizens and residents are automatically included. While this sounds good, remember that not all will cover healthcare services.

If you want wider coverage, you must choose a health insurance plan that best fits you. For example, some policies cover the lost income during hospitalisation when buying health insurance. In comparison, others cover the costs of nursing care and other medical treatment.

Consider the following questions.

What is your purpose for buying health insurance?

Buying health insurance plans have different purposes:

For example, if you want a policy that covers your hospital and surgical (medical) expenses, consider Medical Expense Insurance.
If you want to receive a certain amount of cash while being hospitalized to cover your lost income, buy Hospital Cash Insurance.
If you want to get a lump sum of cash after a diagnosis of a terminal illness you can avail of Critical Illness Insurance.
In case you want to replace your income during a disability, you will need a Disability Income Insurance.
If you want to have your health care paid when you are severely disabled or too ill, you have to get Long-Term Care Insurance.

Which class of ward are you most likely to use?

There is a difference between your ideal ward and the ward you will most likely to use depending on your means. When choosing health insurance, most people think of getting the best choice when this is usually the most expensive.

Health Insurance will not cover the whole cost of your health care. You will have to pay an initial amount since they usually require the holder to pay around 10% of the bill. This initial amount is called “deductible.”

So, if you stay in a subsidised C class ward, you will need to pay the deductible cost of $1,500. For A-class or private hospitals, the deductible is $3,500.

Choose the affordable class based on your capacity to pay. Learning and getting ready with the deductible cost will help you prepare in case you’ll need to use the insurance benefits.

Can you handle the premium in the future?

Usually, you can find the current premium rates. You can use this to compare rates for now, but do not forget that the premiums will go up in a few years.

Health insurance is a long-term commitment. What you are paying now will increase in five years, so make sure you can still afford it by that time. Also, you have other financial responsibilities to handle and possible emergencies to deal with.

Remember that failing to pay your agreed premium may cause your insurance to lapse. So while you want to have great coverage for you and your loved ones, it is still better to have lesser coverage that you can diligently pay.

Do you have an existing chronic illness?

Some health insurance providers do not accept applicants who have pre-existing conditions. Others do, but they have higher premiums.

If you are worried that you will need expensive health care services such as regular dialysis, it is worth buying a more expensive plan. Usually, these plans are only available in higher A class and private hospital plans.

Do you need a rider?

A rider is an add-on you can purchase on top of a plan. With this, it is possible that you will not need to pay any deductible nor do a co-payment. However, riders are very expensive. So consider whether you can still pay it until you get old.

The downside of this option is that people feel obliged to use the free services that come with it. So it is regardless if they do not need to. Also, certain doctors charge higher fees after learning that their patients do not need to personally pay the bill.

There is a notion that services have to be consumed. This will cause the premium and the rider to increase the costs faster than they should.

Final Words

Buying health insurance is a good tool to protect you from the financial blow caused by sudden health care needs. Of course, nobody wants to get sick or hospitalised. However, you will be thankful that you have insurance.

On the other hand, the need for great coverage needs to have a balance with your ability to pay the premium continuously. Therefore, you must handle the payments at ease through proper financial planning.

If you need quick cash, look for a legal money lender in Singapore. Cash Mart offers a low interest personal loan to any qualified borrower. Plus, you can use it for any purpose you need. Check it out now!

5 Flexi Loan Benefits Singaporeans Need to Know

Need a loan, but your income is not qualified? Find a legal lender that offers various loan products. Also, look for flexi loan benefits.

Some Singaporeans are anxious to even apply for a loan. However, they don’t think they can get approved, considering their low income. The truth is that most moneylenders require a minimum income. It is for assurance that they can get paid.

The question is, where can the low-income earners get a financial lifeline? Of course, nobody wants to get involved with loan sharks. A handful of licensed moneylenders have understood this dilemma. Therefore, they created Flexi loans.

Flexi loans are short term loans especially created for low-income earners.

Credit: https://www.cnbc.com/select/boost-your-financial-confidence-according-to-a-fintech-vp/

5 Flexi Loan Benefits You Need to Know

Flexi loan eases the stress during a financial dilemma

Even experience lying in bed at night thinking how you will survive the next day with an empty wallet? And how will you go on a few days before your next salary?

The financial gap creates stress. People get anxious, especially if there is a sudden medical need for kids. A Flexi loan gives you hope to bridge this gap. Ease the stress by paying the medical bills not covered by the insurance.

You may have insurance, but the policy needs you to pay the bills first. Then, you can reimburse it. Finally, you can use the flexi loan to pay the bill.

Flexi loans are safe.

Borrow from registered moneylenders to ensure your information is safe from fraudulent activities. There are loan sharks who seem angels sent from above to help during your dark financial times. They will even push cash into your hands. Afterwards, they will squish out every cent you have, no matter what it takes.

When applying for a flexi loan, do not forget to secure your future. Get the flexi loan benefits only from licensed moneylenders.

Flexi loans help you rebuild your credit score.

Getting a flexi loan can help with your “no credit history.” Of course, no matter what you are earning now, it is best to keep your credit score in good shape. A credit score is crucial for loan applications. If moneylenders see that you have an outstanding credit history, you can easily get approved. In addition, you can even get a higher loan amount.

Remember that you only apply for the amount you are confident can pay off. Then, consistently meet the repayments and maintain a good relationship with your moneylender.

The best option for credit

There are other options you may have to get cash. For example, you can pawn your belongings, such as jewellery pieces. Failure to pay means losing what you have pawned.

What if you do not have anything to pawn? Maybe you can borrow from family and friends. You are lucky if someone lends you at short notice. However, you are risking the relationship you have. It is hard to face the person whose face reminds you of your loan.

What if you have nobody to turn to? Then, you can apply for the flexi loan benefits. Flexi loan is accessible, fast and convenient, especially if you can do it online.

Use a flexi loan for any purpose.

Flexi loans are multi-purpose loans. You can use it in any way you want. For example, pay your bills, purchase needed apparels, and buy groceries. It may help you reach rare opportunities such as investing.

If you want to learn new skills to upscale your career or get another job, you can use the flexi loan to enrol in some training lessons. Also, you can start a small home business as a sideline. Being a low-income earner does not mean you have no right to get any opportunities. Use a flexi loan as a tool to have a better income.

Common Misconceptions about Flexi Loan

It is only for those who are short on money or savings.

You can use the flexi loan to learn new skills or build a new home-based business. You may not need it for an emergency, but you can use it to make a better financial status.

It is a way to further debt.

A flexi loan may have interest charges, and that is understandable. If you get a flexi loan from a licensed moneylender, you can pick which fits your current finances. A responsible lender will not lend money which is impossible to get paid by the borrower.

Furthermore, you can avoid possible penalties if you consistently meet the repayments.

Borrow more than you need to have extra cash at hand

What other people think is that they must borrow more to get approved. What moneylenders consider is your ability to pay. Borrow what is within your means. The higher the amount you borrow, the higher the interest you need to repay.

Where to Get the Flexi Loan Benefits?

Cash Mart offers flexi loans to Singapore Citizen or Permanent Resident earning below $20,000. This amount fits low-income earners who can’t get a loan from banks and most money lenders.

Need a flexi-loan? Get it from Cash Mart today.

10 Reasons You Need a Financial Plan

According to the 2016 MasterCard Index of Financial Literacy, Singapore tops the list of countries with high financial literacy in the Asia Pacific. Meaning Singaporeans are knowledgeable in basic money management, creating a financial plan, and investment matters.

Among these three core areas of financial literacy, you need to stabilise a financial plan. It allows you to build a framework for managing your finances. That way, you can tie together your short-term and long-term financial goals.

What is Financial Plan?

MoneySense defines financial planning as “taking charge and managing your finances to ensure your financial well-being.”

This includes monitoring your cash flow and spending habits, finding ways to settle your debt, building a budget plan, and more. Because it’s multi-faceted, you need a plan to tie all of this together.

Depending on your needs and goals, you can choose to build your own financial plan or ask for the help of a financial planner.

Regardless, here are ten reasons you need to plan your way to financial independence:

Credit: https://online.arbor.edu/news/what-does-a-financial-consultant-do

1. It Helps You Understand Your Financial Situation

When creating a financial plan, you need to know how much money you have, how much money you owe, and how much more money you need. It is not meant to make you feel devastated. Understanding your financial situation allows you to set realistic short-term and long-term financial goals.

2. It Helps You Understand Your Cash Flow

Your cash flow will be the foundation of your financial plans. It will determine whether you can start building the necessary funds to reach your goals or if it’s something you should work on. Thus, it’s important to consider your net salary and expenses when making a financial plan.

3. It Helps You Manage Your Income

Because you have realistic financial goals and you have a good understanding of your cash flow, it’ll be easier for you to manage your income. After all, you don’t really receive it in full. Following the tax and other salary deductions, a financial plan is a great reminder of how you should allocate your money.

4. It Helps You Find Ways to Build Capital

Financial planning allows you to manage your income. Meaning, it’ll be easier for you to allocate your money. And when you can allocate your money, it means you can stash a certain amount for your savings. Thus, you can slowly build your funds meant for investment.

5. It Helps You Find Ways to Make Your Money Grow

Financial planning allows you to give room for savings. What should you do with all the money you were able to save? There’s nothing wrong with spending some to reward yourself. However, it’s advisable that you use it as capital for investment. That way, you can see your money grow through time while you’re busy living your life.

6. It Helps You Build an Emergency Fund

Financial planning allows you to replicate successful processes you were able to build. If you could save enough money as investment capital, you can simply repeat the process to build your emergency funds. Why do you need an emergency fund? So you and your loved one can still survive in case of emergencies.

7. It Helps You Protect Your Loved Ones

Protecting your loved ones is part of financial planning. Other than building an emergency fund, now is also a great time for you to review the outcome of your financial plans. If all goes well, consider getting life insurance and health insurance.

8. It Helps You Understand Your Assets and Liabilities

Acquiring assets is desirable to have something you can liquidate in times of need. However, a lot of assets come with liabilities. Creating a financial plan helps you build assets that won’t become a burden in the future. After all, your net worth is a snapshot of your finances.

9. It Helps You Elevate Your Standard of Living

The wealth you were able to build because of careful financial planning could come in handy in times of need. When you have enough funds for various financial vehicles, it is easy to guarantee that your family is protected. In case you can no longer work and you’re the breadwinner of the family, they can still survive because you are insured.

10. It Helps You Achieve Better Financial Understanding

When you don’t know how to handle your finances, it can negatively impact almost every area of your life. The stress could then cloud your judgment. Well-planned and well-managed finances allow you to live a life free of worries.

Take the First Step to Financial Independence

Financial independence starts with identifying your short-term and long-term goals in life. Also, it hurdles you might face in the future.

With a financial plan, you become more confident with your decisions. That’s because you know you made the right choice on where to place your money. As a result, it reduces your stress and allows you to enjoy life more.

Financial planning is all about controlling your finance instead of the other way around.

Have you started creating a financial plan? Did you do it on your own, or did you seek professional help?

Cash Mart is a legit money lending company in Singapore. It assists you in creating a financial plan with your short-term personal loan. Find out more about what it can offer.

Are You Ready to Get Married?

People always ask when you will be ready to get married. It seems like it is an easy task, but there are various things you have to consider.

In recent years, the number of singles has been increasing. However, there are quite some factors why young Singaporeans still opt to be single at age 20 and above.

Over 500 young Singaporeans, 18 years old and above, were asked about their view on marriage. Also, they voice out their concerns regarding weddings.

Why Do You Need to Be Ready to Get Married?

Marriage is a very serious matter. It means being with a partner at home and sharing their most intimate lives. Around 38% of correspondents say they are ready to get married. Yet, 62% say they are unsure about getting married. The number who haven’t made up their mind is almost double the number of those who are sure.

Around 46% shared they are ready to get married and admitted that they have found the one they want to marry. Sadly, 6% feel pressured by society. However, 16% are ready to start a family. Meanwhile, 32% are financially stable.

On the other hand, 3% don’t think there is a need to get married among those who are not yet ready to get married. Meanwhile, 12% are still young for marriage. The remaining 20% say they simply can’t afford it yet. At the same time, 65% are still yet to find their future spouse.

Aside from still looking for the love of their lives, the following main concern is the cost of the wedding. It is no secret that having a wedding in Singapore can be very expensive. So if you don’t plan it carefully, you’ll be in deep financial trouble.

The most important factor in their future husband should be a great personality for women. It is the same as for the ideal wives of men. While women consider having properties under their partner’s name necessary, men do not have the same expectations. This the properties nor the financial stability of their future wives are not too significant. On the other hand, women want their husbands to be stable financially, but they don’t think owning a car has the same significance. Both genders believe that good looks are just of minor importance.

Credit: https://theasiacollective.com/unique-wedding-venues-singapore/

Wedding Costs

Almost all women who want to get married want to have a memorable wedding. However, weddings can be very expensive. Some even prefer to do shopping abroad rather than get everything on the island. Therefore, most Singaporean feels that they need at least $35,000 for the wedding.

Despite the importance of the wedding, most correspondents feel that the honeymoon is the most significant thing at the start of a marriage. When it comes to expenditure during the wedding ceremony, the wedding rings or engagement rings come as the highest valued item. Then, the wedding gown and suit follow. However, as high as 70% say banquet is not really important. After it is by 48% said videography and photography are not important.

How to Fund the Wedding

Are you one of those who are considering getting married, yet you think you simply can’t afford it? Then, you should know that there are various ways to get funded.

Most single Singaporeans think their parents can help them big time. Others decided to get a personal loan either from a bank or moneylenders. Some will be likely to use their credit cards. In contrast, the least will get the help of their friends.

On the other hand, there are different ways to get your wedding. But, first, you must know that the ROM or the ceremony itself is free. It is just that most want to push through with expensive stuff. Examples are gowns, suits, banquets and classy wedding bands.

Ask for Help

Talk to your siblings if they can pay for the cake. Ask your entourage to buy their own apparel. Request your parents to buy your gown and suits. Invite your friends to sing and MC at your banquet.

Sell your Stuff

If there are bags, shoes and other stuff you rarely use, it is time to let go of your preloved items. It helps you earn more cash for the big day.

Ask for Cash Gift

Most of the visitors will be considering a wedding gift. You can apologetically tell them that you prefer cash instead.

Of the interviewed Singaporeans, more than half of them shared that they will not get financial assistance nor will they be taking any loans. However, almost half of the correspondents say that they will be taking loans. Personal Loans can be flexible. You can use it in any way you want. For added convenience, choose a Singapore moneylender which offers flexible loans and repayment schemes. Drop by Cash Mart to know how to get the most flexible loans in Singapore.

How to Support Your Retired Parents without Any Financial Worries

Despite being busy, Singaporeans worry about their elders. So if you wonder how to support your retired parents, continue reading. We’ll guide you through it without getting into money trouble.

According to the General Household Survey 2015, most Singaporeans aged 65 and above receive financial support from their children.

Singaporeans save up for their own financial security and retirements. However, they are still usually concerned with their parents’ own retirement.

Be Prepared to Support your Retired Parents

While your parents are still healthy, and it may seem awkward for some, you can start discussing their retirement plans. As our parents’ age, they get a higher risk of acquiring health problems. And it might be too late by then. Talk to them together with your siblings and discuss their plans. It needs a family effort. Therefore, everyone may have a part.

The key part of staying afloat financially is to save as early as possible. It will be helpful to get an endowment plan as it will grow over time. After around 10 years, your parents might be able to accumulate more savings to add to their CPF retirement funds.

Together with your family, you can build an emergency fund for your parents. It does not matter if you will pitch in $100 or $200 and more. Your goal is to have sufficient funds if your parents get into an emergency. If things go well, your parents can even choose to retire early.

As much as possible, help your parents be physically active and in shape. It prevents them from various health problems. Help them get a gym membership or enrol them in lifestyle programmes.

Credit: https://www.aia.com.sg/en/life-matters/wellness/provide-for-parents-in-old-age.html

Get adequate insurance coverage.

As early as possible, buy a wide range of policies for your parents. Nobody can predict the future. The wider coverage will be better. When you are getting health insurance, consider three things:

Your parents’ age

Check the insurance policy on the latest age individuals can apply. For example, if the maximum entry age is 80 years old, you can’t apply for the insurance if your parents are already 81 or older. However, the policy will cover your parents for life. So it is regardless of which age they have acquired the policy.

Pre-existing health conditions

Most health insurances only accept the applications of those who have untarnished medical records. So, for example, if your parents have cancer in their medical history, it will be harder to find insurance for them. On the other hand, MediShield Life still applies to all Singaporeans and Permanent Residents. So it is regardless of their past health conditions.

Consider getting Critical Illness coverage. It will greatly help to cover the health expenses. It includes medication and treatments if they get hospitalised. Therefore, you are more ready to support your retired parents.

Sharing the Bill

If you are financially capable, it will be best to top up your parents’ CPF. Also, you can spread the financial obligation with your siblings. Then, gradually take responsibility for your parents’ bills. This way, they can save more for their retirement.

Discounts

As soon as your parents officially become senior citizens at the age of 60, remind them of their discounts. Examples are rides on buses, MRT and LRT rides. Also, they get 2% off the total bill at NTUC Fairprice on Tuesdays with their card.

In addition, by the age of 65, they can already qualify for the Silver Support Scheme. The scheme aims to give more support to the bottom 20 per cent of Singaporean elderlies.

Those who live in one and two-room HBD flats will get $750. Meanwhile, those in three rooms will get $600. So if your parents live in a 4 room HBD flat, they will get $450.

Pioneer Generation Package helps pioneers with their healthcare costs for life. Your parents will qualify if they have been born on or before 31 December 1949 or aged 65 and above in 2014. If they have migrated, they should have obtained citizenship on or before 31 December 1986. With this package, they can have four benefits:

Credit: https://www.moh.gov.sg/cost-financing/healthcare-schemes-subsidies/pioneer-generation-package

Outpatient Care

Your parents can receive additional subsidies on top of their existing subsidies. Therefore, it covers the medications and other medical services by participating GPs and dental clinics.

Medisave Top-ups

Your parents will receive top-ups in their Medisave Accounts annually. But, the best part is for the rest of their lives.

MediShield Life

Your parents can pay less for Medishield life premiums. Thus, you can easily support your retired parents.

Disability Assistance

If your parents sustained moderate to severe functional disabilities, they could get cash amounting to $1,200 a year.

It pays to make your parents know about their discounts and other rights. It makes them more comfortable as they live their retirements.

If you need more cash to take care of and support your retired parents’ finances, you can rely on Cash Mart’s personal loan offers.

Call Cash Mart now.

POSB iBanking Guide For First-Timers

POSB iBanking is now called POSB Digibank with more than 150 online banking services all in one place. From opening a new savings account to transferring funds to almost any other bank in Singapore, you can surely handle it smoothly with POSB iBanking.

Upon signing up, you will be able to access the full range of banking services such as eStatements, PayLah! and SMS Banking. It is simple, secure and always available.

What are The POSB iBanking Eligibility Requirements?

You have to be at least 16 years old and currently have a personal or any joint-alternate account of:

DBS AutoSave Account
DBS Current Account
DBS Savings Account
DBS Savings Plus Account
POSB Savings Account
POSB Current Account
DBS or POSB Credit Card/Debit Card
DBS Cashline
DBS Home Loan with Servicing Account

POSB iBanking Registration

You can register for POSB iBanking via four (4) channels:

Online at dbs.com.sg/bankonline,
Digibank mobile app by selecting on “Get Started”,
any DBS/POSB Branches, and
by calling the Contact Centre at 1800 111 1111

For online registration, you will need to identify yourself with your Debit/ATM Card Number or Credit Card Number. These series of numbers are found in front of the card.

You will also need to provide your mobile number and email address during registration.

What are The Benefits of POSB iBanking

Effortless Application

You can register using your personal ATM card (DBS Bankcard, ALUMNUS card and POSB ATM cards), debit card, or credit card. Once you have registered, you can start accessing your accounts online.

Quick Bank Access

You can easily access your latest banking information on both your POSB and DBS accounts. You can instantly see your deposit accounts, cards, investments and credits.

POSB Security Features

The smooth online services are ensured by the intuitive navigation toolbars. The built-in security features protect every banking transaction and activity you do with POSB iBanking.

In addition, POSB provides 100% security on your funds by covering them under the Money Safe Guarantee. In the event that authorized access and transaction was done in your account, POSB will repay the money taken from your account.
You can also set and customise your email and SMS notifications. Every time you perform selected transactions, POSB will send an alert the moment transactions occurred and exceeded the amount you have specified.
The iBanking OTP serves as an additional security feature with a One Time Password authorisation. This is why you have to register your mobile number with POSB in order to receive a digibank OTP every time you make a transaction.

Fast

Getting your latest account information is just a breeze. You can even complete your banking transactions online to avoid the hassle and effort of queuing.

Anytime, Anywhere

You can do any banking transactions anywhere you are. You can also access your DBS and POSB monthly statements any time of the day.

Money Saver

POSB offers discounts when you use selected internet banking services.

Accessible

There is no need to worry about compatibility hardware. POSB iBanking is designed to run even with a PC with the minimum configuration.

Free of Charge

The standard commission or transaction fees for some services such as purchasing of cashiers’ order, demand draft or traveller’s cheque still applies but the use of the iBanking services themselves and sign-ups are free.

How to Log In to digibank Online for the First Time

Use your temporary User ID and PIN when logging in for the first time. You must also register your DBS iB Secure Device once you have been prompted.

Step 1: Enter your temporary User ID and PIN

Step 2: Tick the box to accept the Terms and Conditions of Electronic Services

Step 3: Click “Next”

Step 4: Key in your preferred digibank User ID

Step 5: Click “Next”

Step 6: Click “Submit”

What is iBanking OTP?

The iBanking One Time Password (OTP) is a security feature introduced by DBS for DBS and POSB account owners with online banking access. It is important to have your active mobile number registered with DBS or POSB to receive your iBanking OTP via SMS. You can use the iBanking OTP for the following services.

SMS Login

You will receive a 6-digit OTP via SMS. SMS Login with iBanking OTP is a new feature introduced in 2012. It is an alternative second-factor authentication on top of using your iB Secure Device.

Banking transactions

A 6-digit OTP will be sent to your registered mobile number via SMS. This is to authorise and complete the selected banking or online transactions such as updating personal information and contact details.

Bank notifications

SMS alerts will be sent to your registered mobile number once your online transactions have been completed.

You will not receive an iBanking OTP for online transactions if your mobile number is not updated correctly or the merchant website you are transacting on is not supported by the 3D Secure™ technology.

You will need your registered mobile number to add a payee, transfer funds overseas, pay bills, update personal details and update your mailing address.

You will need both your iBanking OTP and your iB Secure Device to authorise personal and contact details update, manage alerts, add new cheque, and demand draft recipient.

How to Change POSB iBanking PIN

You can change your iBanking Pin on the iBanking platform. Simply click “Preferences” on the top right-hand corner to access the “Change iBanking PIN” service. You will be required to key in your iBanking OTP before you can access this service.

Your DBS iBanking PIN and your Credit Card or ATM PIN number are not the same numbers. Changing your iBanking PIN does not change any of your cards’ PIN numbers.

How to Use iB Secure Device

The iB Secure Device keeps your transactions secured and safe from any fraudulent activities. Certain transactions require specific buttons on the device.

On the other hand, to access services such as Transaction History, Bill Payment or Funds Transfer, you will need an iBanking OTP sent to you via SMS. Otherwise, press and hold the button with the DBS logo on iB Secure Device.

How to Replace DBS iB Secure Device

In case that your DBS iB Secure Device has been damaged, you can request for a free replacement in three ways.

Via Video Teller Machine (VTM)

Step 1: Proceed to your nearest VTM and complete the authentication process with your NRIC, passport, or ATM/Credit/Debit card.

Step 2: Select “iB Secure Device”

Step 3: Tap “Yes” and select “Reason for Replacement”

Step 4: Collect your new DBS iB Secure Device

Step 5: Register the new device

Step 6: Scan the barcode

Step 7: Key in the 6-digit iB Secure PIN

Step 8: Press “Confirm”

Via digibank Online

Step 1: Log in to your iBanking account

Step 2: Select “Request” and then “More Requests”

Step 3: Tap “Other Services” and select “iB Secure Device Replacement”

Step 4: Click “Login with SMS” and then choose “Get OTP via SMS”

Step 5: Key in the OTP sent to you via SMS

Step 6: Click “Login”

Step 7: Select “Reason for Replacement”

Step 8: Click “Next”, then “Submit”

Via digibank Mobile

Step 1: Log in to digibank

Step 2: Select “Settings” and then “Request New iB Secure Device”

Step 3: Tap “Request/Replacement Reason”

Step 4: Verify your Mailing Address

Step 5: Select “Reason for Replacement”

Step 6: Click “Submit”

If your request via digibank Online/Mobile, your new DBS iB Secure Device will be sent to your mailing address within 3-5 working days

Final Thoughts on POSB iBanking

POSB iBanking lets you Make a Transfer, Manage Payments, GIRO Arrangements, Top Up, Redeem Rewards, Manage Investments, Apply to New Accounts, and Update Personal Details and Preferences. Each transaction is secured with iBanking OTP.

Managing your banking transactions has become more convenient. However, it is still your responsibility to be financially savvy to manage your overall finances.

And when it comes to convenience, getting a loan is just as smooth if you apply in Cash Mart. Cash Mart provides flexible online loan solutions for every Singaporean whenever you need them.

Free Beginners Guide to Borrowing from a Credit Company in Singapore

A credit company in Singapore has been helping Singaporeans get by throughout the years. Whether you are employed or an entrepreneur is seeking to widen your company’s reach, a loan is a handy tool. It helps you thrive or bridge a financial gap. However, getting a loan from a credit company in Singapore is not something you can take lightly.

Not because you can find many credit companies around the city-state does not mean that you can just choose one and borrow cash from any of them without proper research.

The Singaporean government has been concerned by the growing number of Singaporeans taking too many loans than they can handle.

The lack of foresight when borrowing cash can be your financial downfall. However, borrowing money is a helpful tool for an intelligent borrower. And being a responsible borrower does not start with repaying your loan on time to your credit company. It actually begins with choosing which credit company in Singapore to trust.

10 Questions to Ask a Credit Company in Singapore

1. Are you a licensed lender?

In short, a credit company thriving in the lending industry for a long time means there is already a reputable background that you can count to. To verify if a money lender is legally operating, you must check the list of licensed money lenders provided by MinLaw.

2. How much can I borrow?

If you exceed your loan cap, you will no longer be eligible to get an unsecured loan from any credit company in Singapore. While it is tempting to borrow more, a responsible money lender will likely decline a borrower who cannot repay the loan on time.

With the help of the Moneylenders Credit Bureau (MLCB), a credit company will know how much you can still borrow. It prevents you from getting too many loans that you can handle. After all, a credit company just wants to lend and get repaid on time to keep their business running.

3. What is the interest rate?

The late interest is charged only on the unpaid loan amount and not on the principal loan amount or the amount that is not yet due to be repaid.

4. What are the terms and conditions?

MinLaw requires every credit company to be clear and transparent with its terms and conditions. For example, get a loan only if the credit company could discuss and explain the crucial details in your loan contract.

Furthermore, make sure you fully understand every term in your contract, especially the interest rate, fees and repayment schedule. Bear in mind that the contract is legal and binding. It is the borrowers’ finances to hold their side of the contract.

5. Do you have flexible loan packages?

A reputable credit company will be willing to help you choose the most flexible option to help you repay your loan with ease.

6. How fast is the loan process?

The earlier you can complete your required documents, the faster you will process your loan application. For example, if you apply to Cash Mart, you can get your cash in as short as an hour to a day.

7. Is the loan advertisement real?

Did you receive or see any advertisements like SMS, emails, flyers or any forms of prohibited advertisements? It can be any of these two. First, they are from a licensed moneylender not following the strict rules and regulations. Or second, it is an unlicensed moneylender trying to fish for unsuspecting victims.

Do not respond to any illegal advertisement. Instead, report it to the Police or the Registry of Moneylenders.

8. What is the eligibility requirement?

Some credit companies only have loans for Singaporeans and Permanent Residents. Others give a loan to foreigners who have proper working documentation. Others offer loans to low-income earners, while others do not. Shop around to know which credit company can serve your needs.

9. Do you have friendly support?

In addition, many borrowers also appreciate it if the loan officer considers their personal preferences and needs. In addition, Cash Mart’s loan advisers and friendly and attentive. If you want to get advice on your loan-related matters, you can feel free to send a message on WhatsApp, call, or visit them.

Furthermore, a reputable credit company even helps customers who want to learn more about financial literacy.

10. What are the other fees that a credit company in Singapore can charge?

Take note that MinLaw permits money lenders to deduct a loan approval fee of up to 10% from the principal amount. However, they can’t ask borrowers to pay an upfront fee prior to the loan process approval or disbursement.

What to Do After Your Loan Is Granted?

As a responsible borrower, you must first check if the right loan amount has been disbursed. Then, get your own copy of the loan contract and meet the repayment schedule. Every time you make a repayment, be sure to keep the receipt safe. It will be proper documentation that you paid the right amount on time.

Being a smart borrower gives you the chance to build a positive relationship with the credit company. Also, you can build a healthy credit score that you can use to have better loan offers.

Signs That You Are Dealing With a Loan Shark

No licensed credit company in Singapore should use abusive language or behave threateningly. In addition, they must not ask for your SingPass user ID and/or password over the phone, email, SMS or through the online application. Add to that. They should not retain any of your personal ID documents.

Additionally, ensure that you do not sign an incomplete contract. A loan contract must have complete terms and conditions. Also, it must indicate your loan amount, repayment scheme and dates, and other fees. They must properly discuss the loan contract. It helps you understand what you are signing into.

No fair practising credit company will approve a loan without any due diligence. Therefore, even before you can completely file your application, approving your loan is an absolute red flag.

Should you encounter an Ah Long or a licensed money lender with unfair practices, you must report it to the Registry at 1800-2255-529. Rest assured that they will not disclose your personal details.

Are You Really Safe from Credit Card Scams?

Credit cards can be your salvation if you need to make a purchase that your cash can’t. However, if it falls in the hands of culprits, it will start your financial disaster. Despite how Singaporeans know the risks of experiencing credit cards. There are still a lot of cases when people fall prey to fraud and credit card scams.

Simple Ways to Keep Yourself Safe from Credit Card Scams

Avoid keeping your card in your wallet.

Even if you know, you will use it during your travel. So keeping your credit card and wallet separate is better. Most pickpockets know that your cards and cash will be in one place. So if you lose your wallet, you won’t have your money. But, you still got your credit card.

Another reason why you should not put your credit card in your wallet is to avoid a shopping spree. When you see your card, you will be tempted to swipe it. So better keep it away from your sight as much as possible.

Immediately report the loss of credit cards to the bank.

It is best to report the loss or theft to your card provider as soon as possible. Make sure that you can get a copy of a police report, the name of the officers who are investigating your case, and their phone numbers.

According to the law, you are given a maximum liability of $100. But, this is true only if your negligence did not cause the loss of the card. If the banks say that you were negligent, you can approach a law firm for legal advice.

Carry the card only when you are going to use it

There are times that you will be tempted to go shopping if you have your card readily available. However, leave the card at home if you have no plans of using it for any purchase or transaction.

Never write the security PIN at the back of the credit card

Never write your card PIN on your card for an obvious reason. If someone gets hold of your card, the person can easily shop around with your card and even make a cash advance that will seem unquestionable since your PIN has been used.

Credit: https://www.bitdefender.com/blog/hotforsecurity/online-shoppers-beware-mobile-scams-are-on-the-rise/

Never lose sight of the card.

When purchasing something, make sure that you never lose sight of your card to avoid unauthorised swipes and taps.

Do not hesitate to inquire when you don’t understand something

There are times that we enter into a transaction that we don’t really understand. It is a chance that the culprits take advantage of. If the transaction seems suspicious in any way, then just walk away than risk your finances.

Cut your credit card as soon as you close its account

To avoid credit card scams, do not let anybody from using your card. It is better to cut off the card after closing the account. This way, you will be sure that nobody else will have access to it.

Never pay in advance.

There are fake shopping sites that will ask for advance payments. Then after paying, you will never receive your item. Before making an advance payment, make sure you are dealing with a legitimate website.

Learn to spot warning signs in a fake Facebook promotion

With many promotions on Facebook, you have to be very keen on which one to believe. Check the link. It must end with .com, .org or perhaps .sg. If there are incomprehensible words, then it may not be legit. If a company is offering a promotion, the company’s official website must be mentioned. Check the grammar. Companies are very particular with their advertisements and promotions that wrong grammar will be unforgivable.

Remember to log off

If you are in a public place and using free WIFI, do not forget to log out to prevent other people from accessing your bank account. The same goes if you are overseas and using a public computer cafe. As much as possible, access your account in a private place.

Select passwords that are difficult to guess

Do not use birthdays and the names of your loved ones. These are the easiest to guess. Instead, be creative. Make it a bit longer and combine letters with numerical digits. Change your password regularly.

Enter the full URL of your bank

When accessing your bank account, make sure to type the whole URL. Some fraudsters can create identical fake websites. These fake websites are created to steal your bank details when you type them in. Always check the URL if it is the official site of your bank.

Do not click on any link purportedly sent to you by your bank via email.

You might get suspicious emails from your bank telling you that they have done a system upgrade and made another register. So you have to put in your financial details. Other emails might have spotted questionable activities involving your account details. In addition, you are required to key in your bank details for verifications. Never trust such emails. Give your bank a call immediately and report the email.

Install firewall and anti-virus

There will be culprits who will try to infect your software with the virus through click-bait sites. Install anti-virus and firewall to prevent them from accessing your device.

Check your bank’s website for information on their internet security

Visit your bank’s website. Check if the web address has a green lock icon, and the link should start with https. It means the website is well protected. Also, it proves that the company is legal.

Banks’ Ways to Keep You Safe from Credit Card Scams

New credit cards are EMV chip compliant.

A global security standard for Chip Card technology, the EMV is a smart chip that protects cards from fraudulent activities. It keeps your information safe through complicated encryptions.

Requires an OTP (One-time Password)

The bank sends a password to the cardholder through SMS. Also, you can only use it for a single transaction. Therefore, it ensures that only the authorised cardholder can use the credit card.

Credit: https://www.indiamart.com/proddetail/otp-sms-services-20938039188.html

Immediate email / SMS alerts are sent to cardholders when their card is used in any transaction.

You will immediately receive a message that your card has been used in a transaction. It indicates if the transaction has been suspected of fraudulent. You have to confirm it with your bank immediately.

Be responsible with your credit card and bank details. For example, if the transaction is questionable, it is better not to go through it. No matter how tempting it may be. If you feel safer using cash to make an immediate purchase, you can just easily get a flexible loan from Cash Mart.

The Best Credit Cards for Your First Dinner Date

We all know that your first dinner date is crucial to making lasting impressions. Unfortunately, we are now in modern times that we believe in gender equality. But, Singaporeans still tend to be conservative with first dates. Men must pay for the date. While women can offer to pay for their share, the guy who accepts the offer rarely gets a second date.

Sticking to a dinner date doubles the chance of seeing her again. Are you looking for a grand dinner date style? However, you are worried about paying way too much that you can spend at one time. So you have to get a credit card with the best dining privileges. Some cards can even get you a VIP reservation at Michelin Star restaurants here in Singapore and abroad.

What’s with the Michelin Stars? Prestigious restaurants around the globe aspire to get the hallmark stars. It is proof that they are the best among the best. Michelin awards these stars. Yes! The same company makes tires and grades restaurants according to a set of standards. If you take your date to these restaurants, nothing can go wrong but first, get the right dining credit card.

POSB Everyday Card

POSB Everyday Card offers a 9% rebate on your dining purchases. Also, this card lets you relish the braised four-head South African abalone and exceptional Cantonese cuisine in The Ritz-Carlton at10% off the total bill. You can take your date to Crystal Jade Golden Palace if you want more reasonably priced meals. Then, enjoy a 12% rebate on the ala carte food bill.

Both of these restaurants have one Michelin Star. It means that their food has consistently high standards and worth a visit if ever you are in the neighbourhood.

UOB Visa Infinite Card

UOB Visa Infinite Card is excellent for your first dinner date. Why? Because it offers VIP booking in Michelin Star restaurants. These restaurants are naturally sought after by locals and foreigners. That’s why you need to have a reservation. If you take your date abroad, impress your date by making a VIP booking and having dining privileges in 8 ½ Otto e Mezzo Bombana, Shanghai (3 Michelin Stars), Opera Bombana, Beijing (3 Michelin Stars). Moreover, bring her to Le39V, Paris (1 Michelin Star) and Pipero al Rex, Rome (1 Michelin Star).

Do you want to have a date here in Singapore? You can take her to Grand Hyatt Singapore and get up to 50% off on the total bill. Grand Hyatt Singapore has top restaurants with one of a kind spectacular style.

UOB YOLO for your First Dinner Date

Are you the type of guy who wants to keep it simple yet still in sleek style? Then, use your UOB YOLO credit card to get more than 50 exclusive promos in various bars and restaurants. It includes Bedrock Bar and Grill. So, if you think your date is more of a sweet tooth, take her to Cold Stone Creamery or Dean and Deluca. Afterwards, enjoy 10% off à la carte food bill. Then, take her to the movies as the card also gives 1-for-1 weekend movie tickets and up to a 10% rebate at Cathay Cineplexes.

Citi Cash Back Card

Citi Cash Back Card has dining privileges you might want to check out. It offers up to 8% cashback at all partnering restaurants, cafes, and food and beverage. If you want to take your date for a joy ride, you also use this card to refill your tank as it gives up to 20.88% Cash Back from Esso stations, up to 20.8% Cash Back at Shell, and 8% cashback at all other petrol stations. So take your first dinner date to various places in Singapore. Also, discover interesting things about each other.

On the other hand, no matter how prestigious or exciting the venue of your first dinner date is, it is more important to focus on the person you are with. Are you dating a rebel; who wants to cast off the usual romantic dinner dates? Then, you might need more cash than a card. So don’t miss the chance to get a quick cash loan from Cash Mart. Then, take your date to an entirely new level. Make it unpredictable, thrilling and adventurous. Keep the conversations interesting, wear your best, and most importantly, be yourself.

Do Reviews Help You to Find the Best Mattress

How Do Reviews Help You to Find the Best Mattress

Since different individuals have different sleep preferences, what works well for you may not work for someone else. If you want to find the best mattress, customer reviews online can help you. In addition, you get to know more about the new mattress you have been eyeing.

It is no secret that looking for the best mattress is challenging. Fortunately, more online mattress reviews are online. In addition, you can look for specific mattress reviews that can help you know more about the mattress you have shortlisted.

Professional review sites would be testing more mattresses than the average individual. That implies they could give you a far more diverse opinion. Online reviews help you to compare and find the mattress on various counts.

Credit: https://www.sleepfoundation.org/mattress-information/how-to-choose-a-mattress

Find the Best Mattress Support and Construction

Before purchasing a new mattress, you must first see how it supports your posture. The materials used for supporting your sleeping position can impact your comfort. Most modern mattresses would use any of these materials:

Innersprings

These mattresses would use metal springs to give support. The better and relatively more comfortable models would use more springs and place them strategically in separate pockets. Memory foam gets more preference than inner springs because of the pressure points. The springs would be pushing you up while you are sleeping on the mattress, compelling your spine to be out of alignment. Moreover, it may cause stiffness when you wake up.

Memory Foam

Memory foams are the most popular. This type of mattress receives the highest scores in online reviews regarding customer satisfaction. This gentle foam would get compressed under pressure and cradle you while you are lying down.

Simply, it is good at safeguarding you from pressure points and keeping your body in perfect alignment. Previously there were some issues regarding responsiveness and overheating. But, these issues have been effectively resolved in the current versions. You could browse through restonic mattress reviews if you wish to learn more about them before choosing.

Latex Foam

Latex Foam mattresses are known to be bouncier compared to memory foam. These mattresses could be manufactured with 100 per cent organic materials. Also, they are quite durable but slightly more expensive than the rest. Furthermore, latex mattresses are just a handful of reputable brands.

Hybrid Mattresses

US-Mattress.com shared that Hybrid mattresses are a combination of two or more support systems that usuallyuse memory foam layers andh an innerspring system. This way, the sleeper can experience the pressure-relieving benefits of memory foam with the firmness of the innerspring mattress.

Sleep Preference and Firmness Options

Remember that your preferred sleep position would determine the pressure relief and the level of support that’s best for you. For example, back Sleepers feel more comfortable with medium-firm mattresses. Meanwhile, soft mattresses are best for side sleepers.

The soft mattresses ideally provide the right cushion for side-sleepers who require some room for their shoulders and hips to sink into their mattress. Firm mattresses are suitable for folks who sleep on their stomach. However, it is not really recommended because it puts a lot of tension on your neck and spine.

People who shift around while sleeping require a mattress that works in all these situations, which means one of medium firmness is just right for them.

Conclusion: Extra Features

Your quest for a suitable mattress would not end without considering the extra features of the mattress. You may examine the support material and the mattress cover in this context. After going through online mattress reviews, you can find the best mattress for you. In addition, compare the benefits and limitations of your options.

Think of your mattress as an investment. Sleep is vital to help our body rest and regain strength. Conversely, lack of good sleep can lead to stress, behavioural changes, difficulty concentrating, and mood swings.

Unfortunately, high-quality mattresses are more expensive. Need more cash to purchase the best mattress for you? Get an instant loan from Cash Mart.

Cash Mart is Singapore’s most reliable licensed money lender providing flexible personal loans which you can use in any way you want, such as purchasing your mattress.

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