Depositing money on Li Chun, also known as Farmers’ Day, is believed to grow one’s wealth and ensure good luck. Are you holding on to cash and waiting to deposit it during the Chinese New Year period? Following the lack of Li Chun in the Year of the Pig, the upcoming Rat year holds great promises for those looking to ‘HUAT’ (prosper)! Read on and we shall share on the best dates, timing and ways to boost your savings in 2020!
What is Li Chun or Farmers’ Day?
Li Chun, which marks the beginning of spring and a year of transition, was traditionally an important day for farmers in China where they would pray for a good harvest. In Singapore, this tradition has evolved (with our shrinking agriculture sector) into depositing money into one’s bank account to symbolise bountiful wealth for the new lunar year. Noticed those long queues at the ATMs islandwide around Chinese New Year period? That day is most likely Li Chun. The practice of depositing money for good wealth during Li Chun is so popular in Singapore that banks have special measures to cope with the expected crowd! Are you ready to jump on the bandwagon?
#1 Plan ahead for Li Chun 2020
In 2020, Li Chun falls on 4th February and you can deposit money into your bank account based on the auspicious timeslot(s) that correspond(s) with your zodiac sign. Check out the following guide (courtesy of Way Fengshui) on the best time for you to deposit your cash. Of course, let’s be mindful not to blow away our angbao* money on unnecessary expenses.
*Angbao is a monetary gift, commonly inserted in red envelopes or red packets, and given during the Chinese New Year as a form of good luck.
#2 Save time = Save money
While we all would like to HUAT, bear in mind that time equates money. Try to avoid “popular” timeslots such 7pm to 9pm or go the extra mile literally to use an ATM that’s less frequented so that you don’t waste time queuing. If you happen to get an e-angbao during Li Chun, lucky you!
#3 Get greater value out of your savings on these dates
From 23rd January till 4th February 2020, our EASY save series (up to 4.07%1 p.a.) comes with Chinese New Year perks! Enjoy additional S$110 shopping vouchers on top of early-bird promotion when you sign up for either eEASY save V or eEASY savepro insurance savings plan with a minimum S$30K premium paid. In addition to accumulating wealth with life protection benefits, you’d even get to shop for free! That’s a pretty good deal, agree? Well, terms apply so find out more here.
“HUAT” are you waiting for?
There’s a Chinese saying that goes, “the entire year’s work depends on a good start in spring”. We wish you a good head start in this New Year, and it’s time to think about how to make the most of your hard-earned money if you have yet to do so. Good luck! 🙂
1Illustrated yields are 4.07% p.a. & 2.51% p.a. based on the illustrated investment rates of 4.75% p.a. & 3.25% p.a. respectively. Benefits payable may vary according to the future performance of the participating fund.
Information is accurate as at 22 January 2020. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you.
Tiq by Etiqa Insurance Pte. Ltd.
A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.
With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.
Discover the full range of Tiq online insurance plans here.