Most of us are familiar with the usual mobile plans with 2-year contracts that all telcos offer. They typically package a certain amount of talktime, SMS messages, data, as well as an upfront discount on a new handset at the point of signing.

Getting these packaged mobile plans has been the way for most of us, but Singtel's new SIM Only Plan offers an alternative. With the SIM Only Plan, there is no contract. As a customisable plan, customers can enjoy freedom and control over their usage and what they spend on their monthly mobile bills.

Here are 4 things a Singtel SIM Only Plan can help you do:

1. Spend less every month

For consumers on a typically packaged mobile plan, a part of the monthly fee goes towards the cost of the handset. A SIM Only Plan doesn't come with a handset, translating to monthly bills that are more affordable.

Starting at $20 a month, the Singtel SIM Only Starter Pack comes with 5GB of data. This includes 3GB of local data and 2GB usage at Singtel WiFi hotspots.

From now till March 31 next year only, enjoy automatic and unlimited access to high-speed Singtel WiFi at over 900 Singtel WiFi hotspots islandwide including shopping malls, foodcourts, MRT stations and even McDonalds. Compared to free public WiFi, Singtel WiFi allows faster connection at 5 times the speed. After this promotion period, your SIM Only starter pack will continue to entitle you to 2GB of Singtel WiFi per month.

A typical consumer might also add on a 1200 SMS pack and a 200 minutes talktime pack for $5.35 each, taking the monthly bill to $30.70. A comparable telco package plan would cost around $62.90, meaning that the SIM Only plan generates $772.80 of savings over 2 years.

A packaged plan is still useful if you want to benefit from the discount off the mobile handset cost that a 2-year mobile contract offers. However, the SIM Only Plan offers flexibility- you only need to pay for your service usage from month to month.

2. Make your mobile plan to suit your monthly plans

You can add data, minutes and talktime to your SIM only Plan at just $5.35 a month for each additional pack. You can also change and customise it on a month-to-month basis.

This is especially useful if you have to travel for a work trip or a student exchange programme that requires you to be out of the country for a few months - you can simply downgrade your plans by canceling any add-ons that you do not need. Or if you have a month where you are going to be out and about more often, you can just add on a pack.

3. Customise your plan - only pay for what you need

With messaging apps becoming increasingly commonplace, you may find that you are not utilizing your monthly allocation of SMS messages. With the SIM Only Plan, you can choose not to pay for any SMS bundle. You will still receive incoming SMS messages, and can send SMS on a pay-per-use basis.

Or if you needed an additional data-only SIM, for your tablet or wearable, you could choose to leave out SMS messages or talktime and just get a Singtel's SIM Only Starter Pack that comes with 3GB local data and 2GB Singtel WiFi for $20.

Enjoy 5GB of data, 150 minutes of talktime and 500 SMS messages for just $20/mth with SIM Only's 12-month plan. Currently, Singtel is offering double data for data add-ons for the 12-month plan. So, when you choose to add 1 GB, for $5.35, you get to enjoy an additional 1GB of data for free. This means that you could even get a complete mobile plan with 15GB of data for under $50 a month.

4. Keep or change mobile handsets, anytime

Although there are upfront handset discounts that accompany a packaged mobile plan, the savings from the SIM Only Plan can match these discounts.

Using the earlier example, in comparison with a regular telco package plan, the SIM Only Plan could generate $772.80 worth of savings over 2 years. This could go towards the cost of a new handset, which you can purchase at any time.

In addition, for SIM Only customers, you can also enjoy handset offers at discounted retail prices. Singtel also offers flexible payment schemes where you can pay in instalments with zero interest. With no binding contract, change your mobile handset when you need it and still enjoy considerable discounts. Find out more at www.singtel.com/simonlyipp.

Want to see what a SIM Only Plan could help you to do? Try configuring a plan for yourself now on Singtel's SIM Only site and check out how much you will be able to save.