U-Save Rebates & Your Electricity Bill: Everything You Need To Know!

U-Save Rebates & Your Electricity Bill: Everything You Need To Know!

Since 2018, every Singaporean household is eligible to receive a U-Save rebate that will help subsidise your home utility bill – that means paying less for your electricity, gas and water bill!

Depending on the size of your home, you could enjoy up to $400 a year which is used to offset your utility bill for the current year.

In this article, we will go through everything you need to know about the U-Save rebate and how it is helping you save even more!

What Is The U-Save Rebate?

The U-Save rebate is part of the GST Voucher and is a portion that is meant to help households with their utility bills (electricity, gas and water supply).

U-Save is a rebate that is part of the overall GST Voucher that ranges between $240 to $400.

gst-voucher-u-save-rebates-electricity-utility-bill

In order to be eligible for the U-Save benefit, you will have to satisfy the following 4 conditions:

  • If you own and live in your HDB flat, there must be at least one Singapore citizen owner or occupier in the flat; or
  • If you partially rent out the HDB flat that you own and live in, there must be at least one Singapore citizen owner or occupier in the flat; or
  • If you rent an entire flat, there must be at least one Singapore tenant;

And

Any immediate family members living in the same flat must not own or have any interest in more than one property.

If your household is eligible, each flat will receive only 1 GST Voucher – U Save benefit that is based on the type of your HDB flat.

How Much Will I Be Getting?

If your household is eligible, each flat will receive only 1 GST Voucher – U Save benefit that is based on the type of your HDB flat.

chart-u-save-rebates-electricity-utility-bill

In addition, as announced in Budget 2018, eligible households will receive an additional $20 per year from 2019 to 2021, which will be paid out in quarterly tranches.

Each flat will receive only 1 GST Voucher – U-Save benefit based on your the flat type.

How Does The U-Save Voucher Work?

The great thing about the U-Save voucher is the payments will be automatically credited to the utilities account of your household (upon account opening) – there is no sign-up required!

For FY 2019, the U-Save rebates will be paid out in July 2019, October 2019, January 2020 and April 2020.

In addition, your U-Save benefit will continue to be rolled over month after month to help offset your household’s utility bills – it will not lapse! As such, your U-Save rebate is not uncashable to offset any other expenses.

Is My U-Save Rebates Applicable For My iSwitch Bill?

If you are eligible for U-Save rebates, we will reflect your remaining U-Save rebate amount for offsetting your electricity bill in your statement.

In order to offset your iSwitch bill with your U-Save rebate, you have to meet these 3 criteria:

  • You must have credit balance from your U-Save amount. This is reflected in your utilities bill from SP Group.
  • You must also have outstanding bill charges on the 28th day of the month (it will be 1 business day earlier if 28th day falls on a non-business day).
  • If your bill due date is before the 28th day of the month, the credits will not be used for this month and shall be rolled over to the next.

If you are an iSwitch customer (or with any other retailer), your U-Save rebates will be used to offset your SP Group bill for non-electricity charges (water, gas, refuse collection) first before being used to offset your electricity bill.

That means that the remaining bill rebate could be less than your U-Save rebate entitlement under the GST Voucher scheme.

Save Even More With iSwitch Today!

While the U-Save rebate definitely helps you save money off your utility bill & every bit counts, why not save even more on your electricity bill!

At iSwitch we are helping households all across Singapore save more on their monthly electricity bill with our 100% carbon-neutral price plans.

Whether you are keen on the fixed price or discount-off tariff plans, it’s time to maximise your savings by signing up today!

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