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Best Cash Management Accounts Singapore

The Ultimate Guide to Cash Management Accounts in Singapore 2022

profileJoel Koh

With traditional bank savings accounts offering a paltry base interest of 0.05% p.a. and having multiple hoops in order to attain higher interest,

You might be looking for somewhere else to park your emergency fund or save up for a short term financial goal.

Enter cash management accounts that offer stable, low-risk returns with high liquidity.

Source: Giphy

Intrigued?

Here are some of the best cash management accounts for you to consider!

Disclaimer: We are not sponsored by any of these companies. Check out our Seedly Code of Ethics for more information. Information accurate as of 25 May 2022. The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before investing in any investment product.


TL;DR: Ultimate Cash Management Account Comparison in Singapore

AccountNet Yield p.a. (Non-Guaranteed)Minimum Initial DepositFunding SourcesWithdrawal Time (To Bank)
MoneyOwl WiseSaver0.68%$10Cash | SRS3 business days
(1 day to cash account + 2 days from cash account to bank account)
Phillip Smart Park (SGD)~0.19%S$100 Cash1 business day
Phillip Smart Park (USD)~0.15%US$100
FSMOne Auto-Sweep~0.78%S$50CashT + 1 business days
StashAway Simple1.10%No deposit requirementsCash | SRS1 - 3 business days
(Cash)
2 - 4 business days
(CPF/SRS)
Endowus Cash Smart Core0.80% - 0.90%S$1,000
For new Endowus customers
3 - 4 business days (Cash)
4 -5 business days (CPF/SRS)
Endowus Cash Smart Enhanced1.80% - 2.10%
Endowus Cash Smart Ultra2.30% - 2.70%
Syfe Cash+1.20%No deposit requirementsCashQuick same-day withdrawal of 90% of portfolio value up to $10k

2 - 3 business days otherwise
Grab Earn+2.00% - 2.50%$1Cash4 -5 business days

All projected annual returns are net after accounting for any fees.

In general, if you’re

  • In possession of brokerage accounts with them, consider: FSMOne Auto-Sweep Account, Phillip SMART Park, Syfe Cash+
  • Investing with SRS, consider: StashAway Simple, MoneyOwl WiseSaver, Endowus Cash Smart 
  • Looking for same-day liquidity, consider: Syfe Cash+
  • Seeking higher returns but with higher risks, consider: Grab Earn+, Endowus Cash Smart (Enhanced and Ultra)
  • Integrated into the Grab ecosystem, consider: Grab Earn+

We will be comparing these cash management services based on the following criteria:

  • Interest rate (or yields)
  • Minimum Initial Deposit
  • Account limit
  • Fees
  • Liquidity
  • Risk

Click to teleport:


What Is a Cash Management Account?

Cash management solutions are typically provided by brokerages and robo advisors,

And while they share similar features, these accounts are not designed to be used as everyday savings accounts.

Underlying Funds Risk Profile Comparison

Before we start, it is important for you to know more about the difference in the risk of the cash management products these funds invest in — from cash funds, money market funds (MMF) to short-duration bond funds.

An important thing to note is that cash management accounts are investment products, which means that your capital is not guaranteed by Singapore Deposit Insurance Corporation (SDIC).

Cash Fund (Safest)

In the fund space, cash funds are the safest asset class among these three funds. For this asset class, the fund generally invests in a diversified portfolio safe institutional bank fixed deposits and treasury bills. the cash fund has the lowest downside risk compared to the other two funds.

For example, the Fullerton SGD Cash Fund is a cash fund that invests in safe income instruments like Singapore Dollar (SGD) Deposits with Singapore-registered banks and Singapore Government Treasury Bills.

These deposits have varying terms of maturity not more than 366 working days.

Fun fact: the Fullerton Cash Fund had never seen a day of negative returns since inception.

Money Market Fund (Less Safe)

MMFs are slightly riskier than cash funds. Although MMFs also invest in safe institutional bank fixed deposits and treasury bills like cash funds, MMFs also invest in high quality investment-grade and very short term government and corporate debt instruments.

On average, these debt instruments are set to expire in about one year or less which makes them quite a low risk.

For example, the LionGlobal SGD Enhanced Liquidity Fund is an MMF that invests in high-quality debt instruments which are broadly diversified with no target industry or sector.

Similarly, the Lion Global SGD MMF  is an MMF that invests in short-term money market instruments and debt securities like government and corporate bonds, commercial bills and deposits with financial institutions.

There is also the Phillip Money Market Fund for SGD and Phillip US Dollar Money Market Fund A for USD.

The Fund will invest primarily in the short term, high-quality money market instruments and debt securities. Such investments may include government and corporate bonds, commercial bills and deposits with financial institutions.

The difference between the funds is geography.

The Philip Money Market Fund for SGD invests in Singapore based investment products while the Phillip US Dollar Money Market Fund A invests in US-based investment products.

Short Term Bond Fund (Least Safe)

Last but not least we have the short bond funds which are riskier than MMFs but still rather safe. They invest in the same instruments as MMFs.

However, where they differ is the short term debt instruments that these funds generally invest in. On average, these debt instruments are set to expire in about two years or less.

This makes these funds slightly riskier than MMFs as the longer duration introduces uncertainty, as events like falling interest rates will affect the returns of the bond negatively.

For example, we have the:

  • UOB AM United SGD Fund: Invests in global high-quality investment-grade bonds that aim to beat Singapore dollar deposits.
  • LionGlobal Short Duration Fund: Invests in an actively managed portfolio of Singapore and international bonds, high-quality interest rate securities, and other related securities.
  • Fullerton Short Term interest Rate Fund: Invests in fixed income securities and money market instruments with no specific industry or sectoral emphasis.
  • Nikko Shenton Income Fund: Aims to provide regular income distributions while seeking to achieve returns in excess of 4% per annum over the medium to long term.
  • PIMCO Low Duration Income Fund: Seeks to achieve attractive income by actively managing and tapping into multiple areas of the global bond market, while maintaining relatively low-interest rate exposure with a secondary goal of capital appreciation.

For context, here are the funds that these cash management accounts invest in.

Underlying FundsAsset ClassMoneyOwl Philip SMART Park (SGD)Philip SMART Park (USD)FSMOne Auto-Sweep AccountStashAway SimpleEndowus Cash Smart SecureEndowus Cash Smart EnhancedEndowus Cash Smart UltraSyfe Cash+Grab Earn+
Cash Account
Cash---15%------
Fullerton SGD Cash Fund Cash Fund100%--10%-50%----
LionGlobal SGD Enhanced Liquidity Fund SGDMoney Market Fund---60%50%50%50%27.5%70%-
Phillip Money Market Fund-100%--------
Phillip US Dollar Money Market Fund--100%-------
LionGlobal SGD Money Market Fund----50%---30%-
United SGD Money Market Fund---15%------
UOB AM United SGD FundShort-Term Bond Fund------50%--50%
LionGlobal Short Duration Bond Fund-------25%--
Fullerton Short Term Interest Rate Fund-------25%-50%
Nikko Shenton Income Fund-------12.5%--
PIMCO Low Duration Income Fund-------10%--

However, an important thing to note is that all these funds are lower risk in nature compared to something like an all-equity portfolio.

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1. MoneyOwl WiseSaver Review

First up we have the MoneyOwl WiseSaver cash management account.


To access this you will need to signup for an account with MoneyOwl.

MoneyOwl WiseSaver Returns: 0.68% p.a.

At the time of writing, the MoneyOwl WiseSaver account’s current historical 5-day moving average (as of 6 May 2022) gross yield is 0.83% p.a. 

The company has chosen to publish this rate for more transparency so that customers will get a more accurate reflection of the returns. This rate of returns will also be updated once a month.

But, after factoring in their fund manager fee of 0.15% p.a., the net projected yield you get is 0.68% p.a.

MoneyOwl has chosen to publish this rate for more transparency so customers will get a more accurate reflection of the returns.

Do note that this rate of returns is updated regularly by MoneyOwl periodically and may go up or down according to economic and market conditions. Hence, the returns are not guaranteed.

Also, this interest is prorated, accrued and credited to your account on a daily basis.

Minimum Initial Deposit

To start a MoneyOwl WiseSaver account you are only required to make a minimum initial deposit of $10, regardless of whether you are opting for one-time savings or a monthly regular savings plan (RSP).

Fees

However, they do charge a fund manager fee of 0.15% p.a. paid directly to Fullerton Fund Management.

Liquidity

In terms of liquidity, you can withdraw the money anytime to your bank account with no lock-in period or early penalty cost and retain control over your cash flow.

The returns you receive will be calculated based on the price at which you redeemed your units within three business days as it takes one business day to withdraw your money from WiseSaver to your cash account and another two business days to withdraw from your cash account to your bank account.

Risk

In terms of risk, this is as safe as you can get in the fund space.

The funds you deposit into this account are funnelled to the safest Fullerton SGD Cash Fund – Class A.

Cash And SRS

In addition, the good thing about WiseSaver is that you can invest using cash or your Supplementary Retirement Scheme (SRS) account.

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2. Phillip SMART Park Review

There is also Phillip SMART Park, the largest retail SGD money market fund* in the market (based on Total Net Assets reflected in FundSingapore.com).

With Phillip SMART Park, you will be glad to know that you can enjoy interest on deposits in both SGD and USD with no lock-in period for your deposits, and you can enjoy interest on deposits in both SGD and USD.

Fun fact: PhilipCapital is also behind the POEMS trading platform.


Best of all, there’re no sales charges or administrative fees levied either.

This fund is slightly riskier than FSMOne as the account holdings consist solely of an MMF.

You’ll be glad to know that Phillip SMART Park is the only cash management account that channels the funds into a fund managed by the same company.

To access this account, you will need to sign up for a POEMS account and opt-in to the SMART Park facility.

Phillip SMART Park (SGD) Returns: 0.19% p.a.

At the time of writing, the latest one-year rolling return is ~0.19% p.a. for the SGD version of this account.

Phillip SMART Park (USD) Returns: 0.15% p.a.

Whereas for the USD version of this facility the one-year rolling projected net yield is ~0.15% p.a.

Do note that this interest rate for both options is updated regularly and may fluctuate according to economic and market conditions. Hence, the returns are not guaranteed. 

Fees

Although there are no sales charges or administrative fees, Phillip charges a 0.45% p.a. fund-level fee included in the stated rate of returns.

Minimum Initial Deposit

To start, you need to make a minimum initial deposit of S$100 and US$100. Subsequently, you will need to top up the account in denominations of $100 in the respective currencies.

Also, to enjoy the returns of SMART Park, you must maintain a minimum account balance of S$100 for the SGD fund and US$100 for the USD fund.

Liquidity

In terms of liquidity, there are no lockups. You can make unlimited transfers in and out from the account into your bank account freely.

When you submit the online withdrawal request before 10am, the funds will be available in your bank account on the next business day.

Risk

The funds you invest are channelled into the Phillip Money Market Fund (A Class) for SGD, and Phillip US Dollar Money Market Fund (A Class) for USD.

Phillip Money Market Fund (SGD) Performance

The Phillip Money Market Fund for SGD was constructed with the aim to preserve principal value and maintain a high degree of liquidity while producing returns comparable to that of Singapore Dollar savings deposits.

The Fund will invest primarily in the short term, high-quality money market instruments and debt securities of 397 days or less. Such investments may include government and corporate bonds, commercial bills and deposits with financial institutions.

Time Period (As of May 2022)Performance (%)
1 Year0.1956
3 Years0.515
5 Years0.74
10 Years0.6821

Source: Philip Securities

Phillip US Dollar Money Market Fund A (USD) Performance

The investment objective of the Phillip US Dollar Money Market Fund is to provide liquidity and manage risk while looking to provide a return that is comparable to that of USD short-term deposits.

This Fund will invest in high-quality short-term money market instruments and debt securities. Some of the investments may include government and corporate bonds, commercial bills and deposits with financial institutions.

Period (As of May 2022)Monthly Yield Annualised (%)
1 Year0.1534
3 Years0.1762
5 Years0.6296
10 Years1.0026

Source: Philip Securities

If you are looking to use the USD version of SMART Park, do note that it will expose you to forex risk.

The average weighted maturity timeline for these funds is approximately 397 days or less.

To put it differently, they are instruments that will mature in less than a year, and hence capital appreciation from price movement is close to zero.

Though Phillip Money Market fund is not principal guaranteed, it has not experienced any default since its inception in 2001.

As always, I would like to remind you that past performance is not indicative of future performance.

Cash And SRS

However, one limitation of this account is that it is cash-only, meaning you cannot put in money with your Supplementary Retirement Scheme (SRS).

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3. FSMOne Auto-Sweep Account Review

Next, we have the FSMOne Auto-Sweep Account offered by FSMOne Fundsupermart.

To access this, you will need to set up an online brokerage account with FSMOne and opt-in for the auto sweep account.

The FSMOne Auto-Sweep Account will automatically “sweep up” and invest the excess monies you have in your brokerage account.

These excess monies will be consolidated by FSM on a daily basis and automatically invested into the Auto-Sweep Account after one business day.

Note: A consolidated amount of more than $10 in a single day will be invested into the Auto-Sweep Account.

For example, if you receive $6 from Fund A, $3 from Fund B and $3 from Fund C, FSM will sweep the consolidated amount of $12.

But, the amount deposited will only be reflected in the Auto-Sweep Account balance after two business days.

You can also use this account to pay for your investments in FSMOne instantly.

On top of the sweeping, you can also deposit money into the Auto-Sweep account by depositing money into your Cash account via FAST/Paynow.

FSMOne Auto-Sweep Account Net Returns: ~0.78% p.a

At the time of writing, FSMOne Auto Sweep Account’s current projected net yield (as of 25 May 2022) is ~0.78% p.a.


Do note that the rate of return is updated on a weekly basis and is subject to fluctuation based on economic conditions. Hence the returns are not guaranteed.

Also, these returns are accrued on a daily basis and credited to your account.

Fees

The good thing about this account is that there is no account limit, no sales charges and no platform fees

However, they charge fund-related expenses and FSM management fee of 0.05% per quarter which is already included in the above-mentioned current rate of return.

To start using this account you will need to deposit at least $50.

Liquidity

In terms of liquidity, you can withdraw the money to your bank account anytime with no lock-in period or early penalty cost and retain control over your cash flow.

However, there is a minimum withdrawal amount of $50 and a minimum recurring top-up amount of $100.

You will also get your cash approximately T+1 business days (T = transaction date) later if you make the withdrawal before 3pm on a business day.

You can also transfer your money (Available Balance) between Auto-Sweep Account and Cash Account (SGD Only).

If you perform a transfer before 3pm on a business day, the transfer will be completed on T+1 business day after the following timing:

  • Auto-Sweep Account to SGD Cash Account:  T+1 after 5am
  • SGD Cash Account to Auto-Sweep Account: T+1 after 2pm

Risk

The funds you deposit into this account are funnelled to a low-risk investment portfolio in Singapore Dollar (SGD) consisting of these funds:

  • LionGlobal New Wealth Series – LionGlobal SGD Enhanced Liquidity I Acc* SGD (60%)
  • United SGD Money Market B SGD (15%)
  • Cash Account (15%)
  • Fullerton SGD Cash Fund A SGD (10%)

*FSMOne invests in the institutional (Class I) version of this fund which has lower expense ratios compared to the version (Class A) catered towards retail investors.

Source: FSMOne

This account is slightly riskier compared to MoneyOwl WiseSaver as it has exposure to the LionGlobal SGD Enhanced Liquidity MMF as well as its cash account.

Cash and SRS

However, one limitation of this account is that it is cash-only, meaning you cannot put in money with your SRS.

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4. StashAway Simple Review

Next up we have StashAway Simple, a cash management account offered by robo advisor platform StashAway.

StashAway Simple Simple Current Returns: 1.10% p.a.

StashAway Simple’s value proposition is simple.

At the time of writing, the account’s projected net yield is 1.10% p.a. on any amount you deposit into the account; with no limit on the balance that can earn a projected rate!

This interest is accrued on a daily basis and credited to your account.

However, do note that this rate of return is not guaranteed and might fluctuate due to economic conditions.

Minimum Initial Deposit

Start an account with StashAway Simple is easy as you’ll be glad to know the account has no deposit requirements.

Fees

The good thing about this account is that there are no StashAway management fees charged for any deposit.

Also, if you are a StashAway user, the balance you have in the StashAway Simple account is not included in the calculation of fees for your investment portfolio.

However, the account has an approximately ~0.31% p.a. average expense ratio.

But, StashAway gives a 0.138% p.a. rebate which results in a ~0.172% p.a. net expense ratio fee for the account.

But, you do not have to worry too much about this 0.172% fee, as it is included in the calculation for the yield the account offers.

Liquidity

In terms of liquidity, there is no lock-in period or withdrawal restrictions. This means you can make unlimited transfers in and out of the account at no cost, giving you control over your cash flows.

However, StashAway stated that it would take approximately one to three business days to withdraw your cash in StashawaySimple.

As for CPF/SRS withdrawals, it takes a further two to four business days.

Risk

The money that you deposit into the StashAway Simple account is between two funds:

  1. LionGlobal SGD Money Market Fund (50%)
  2. LionGlobal SGD Enhanced Liquidity Fund SGD Class I Acc* (50%)

*StashAway invests in the institutional (Class I) version of this fund which has lower expense ratios compared to the version (Class A) catered towards retail investors.

However, StashAway Simple is slightly riskier compared to the Endowus Cash Smart Core Fund due to the dual exposure to these two MMFs, which is part of the reason why they can offer a higher return.

Cash & SRS

The good thing about these accounts is that you can invest using cash or SRS.

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5. Endowus Cash Smart Secure Review

Next up we have Endowus Cash Smart, the cash management account offered by Endowus.

Endowus Cash Smart Secure Returns: 0.80% – 0.90% p.a.

The Endowus offering is interesting as they are offering three different portfolio choices for the Endowus Cash Smart account.

For the Endowus Cash Smart Secure (previously known as Endowus Cash Smart Core), the current net yield of this portfolio is 0.70% – 0.80% p.a. (after fees).

Endowus have stated that they chose to offer a range, as it is a more accurate and realistic reflection of the potential returns investors will receive.


Do note that this interest rate is updated regularly by Endowus and may fluctuate according to economic and market conditions. Hence, the returns are not guaranteed. 

These returns are also accrued on a daily basis and credited to your account.

Minimum Initial Deposit

However, to enjoy these returns, you will need to make a minimum initial investment of $1,000 if you do not have an Endowus account.

Account Limit

In terms of account limits, there are no limits to the amount that can receive interest in the account.

Fees

For the Endowus Cash Smart Secure account, there is a 0.15% p.a. net level fund fee charged by the fund manager as well as an Endowus Access Fee of 0.05% per year.

This is after taking into consideration the trailer fee rebate that Endowus provides to investors.

These fees are included in the above-mentioned current rate of return so investors need not do anything else.

Liquidity

In terms of liquidity, there are no lockups. You can make unlimited transfers in and out of the account. But, there is a minimum transaction amount of $100.

In addition, there is no minimum balance that must be maintained in the account.

But, withdrawals take a bit longer as it takes three to four business days for you to get your money out from your cash investments.

As for CPF and SRS, it takes a further four to five business days.

Risk

The funds you deposit into the account are funnelled into an investment portfolio consisting of these funds

  • Fullerton SGD Cash Fund (50%)
  • LionGlobal SGD Enhanced Liquidity (50%)

Endowus Cash Smart Secure is rather safe, with a risk profile similar to FSMOne Auto Sweep. However, the cash portion is what makes the FSMOne account riskier.

Cash & SRS

The good thing about this account is that you can invest using cash or SRS.

6. Endowus Cash Smart Enhanced Review

We also have the second riskiest Endowus Cash Smart Account offered by Endowus.

Endowus Cash Smart Enhanced Returns: 1.80% – 2.10% p.a.

Endowus is offering investors the option to invest in the riskier Enhanced portfolio.

But with higher risk comes higher returns as this portfolio’s net projected returns are 1.80% – 2.10% p.a. (after fees).

Do note that this rate of returns is updated regularly by Endowus and may fluctuate according to economic and market conditions. Hence, the returns are not guaranteed. These returns are also accrued on a daily basis and credited to your account.

Fees

For the Enhanced portfolio, the account has a 0.27% p.a. net level fund fee charged by the fund manager as well as an Endowus Access Fee of 0.05% per year.

This is after taking into consideration the trailer fee rebate that Endowus provides to investors.

These fees are included in the above-mentioned current rate of return so investors need not do anything else.

Endowus Cash Smart Risk

The funds you deposit into the enhanced portfolio are channelled into these funds:

  • LionGlobal SGD Enhanced Liquidity (50%)
  • UOB AM United SGD Fund (50%)

The Enhanced portfolio is riskier than StashAway Simple as although they share the same LionGlobal SGD Enhanced Liquidity MMF, the enhanced portfolio invests in the riskier UOB AM United SGD fund, a short-term bond fund.

Do note that the minimum initial deposit, account limit, and liquidity are the same for Endowus Cash Smart Secure, Enhanced and Ultra.

7. Endowus Cash Smart Ultra Review

We also have the riskiest Endowus Cash Smart Account offered by Endowus.

Endowus Cash Smart Ultra Returns: 2.30% – 2.70% p.a.

Endwous is all about giving consumers a choice and you get that with the Endowus Cash Smart Ultra.

This portfolio’s net projected returns are 2.30% – 2.70% p.a. (after fees).

Do note that this rate of returns is updated regularly by Endowus and may fluctuate according to economic and market conditions. Hence, the returns are not guaranteed. These returns are also accrued on a daily basis and credited to your account.

Fees

For the Ultra portfolio, the account has a 0.29% p.a. net level fund fee charged by the fund manager as well as an Endowus Access Fee of 0.05% per year.

This is after taking into consideration the trailer fee rebate that Endowus provides to investors.

These fees are included in the above-mentioned current rate of return so investors need not do anything else.

Endowus Cash Smart Ultra Risk

The funds you deposit into the enhanced portfolio are channelled into these funds:

  • LionGlobal SGD Enhanced Liquidity (27.5%)
  • LionGlobal Short Duration Fund (25%)
  • Fullerton Short Term interest Rate Fund (25%)
  • Nikko Shenton Income Fund (12.5%)
  • PIMCO Low Duration Income Fund (10%)

The Ultra portfolio is arguably the riskiest cash management account on this list.

Aside from the 27.5% put into the LionGlobal SGD Enhanced Liquidity cash fund, a good 72.5% of the cash management account’s underlying funds are invested in short-term bond funds which are riskier and more volatile investments.

Source: Endowus

Also, you have to be aware that the maximum drawdown for Cash Smart Ultra is limited to a -2.59% drop in a worst-case scenario.

The volatility is also higher as it takes 100 days for the account to recover from a drop.

However, the projected yield you can get from the Cash Smart accounts can be maximised with a lower than average weighted duration.

This means that the accounts will minimise the duration risk, which is an unnecessary risk to take for a short term investment product like Cash Smart.

Endowus Cash Smart Performance

Source: Endowus

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8. Syfe Cash+ Review

Next, we have the Syfe Cash+ account by Syfe.


To access this you will need to signup for an account with Syfe.

You don’t need to invest in any other Syfe portfolios to invest in Cash+. If you do, you can move your money from your Cash+ account to your other Syfe investment portfolios (and vice versa) anytime with no fees incurred.

In addition, you get to have complimentary access to wealth experts, where you can get personalised guidance on how to achieve your financial goals using Syfe’s range of portfolios.

Syfe Cash+ Returns: 1.20% p.a.

At the time of writing, the account’s projected net yield is 1.20% p.a. on any amount you deposit into the account with no limit on the balance that can earn a projected rate.

However, do note that this rate of return is not guaranteed and might fluctuate due to economic conditions.

Minimum Initial Deposit

Starting an account with Syfe Cash+ is easy as you’ll be glad to know the account has no deposit requirements.

Fees

Although there are no sales charges or administrative fees, there is a 0.29% p.a. fund-level fee as included in the stated rate of returns.

There is a 100% trailer fee rebate and there is no management fee by Syfe.

Liquidity

In terms of liquidity, there is no lock-in period or withdrawal restrictions.

You can make unlimited transfers in and out of the account at no cost, giving you control over your cash flows.

Recently, Syfe has launched a new quick withdrawal feature where users can enjoy same-day withdrawal of up to 90% of their current portfolio value (max $10k).

Otherwise, it would take approximately two to three business days to withdraw the money to your bank account.

Risk

The money that you deposit into the Syfe Cash+ account is between two LionGlobal funds:

  1. LionGlobal SGD Enhanced Liquidity Fund SGD (70%)
  2. LionGlobal SGD Money Market Fund (30%)

This means that Syfe’s Cash+ portfolio is actually slightly less risky compared to Endouws’ middle of the road Cash Smart Enhanced, as there is no exposure to short-term bond funds.

Cash and SRS

One limitation of this account is that it is cash-only, meaning you cannot put in money with your SRS.

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9. Grab Earn+ Review

Lastly, we have a new entrant into the scene, Grab Earn+ by Grab Financial Group.

 

To access this you will need to signup for an account with Grab.

Grab Earn+ Returns: 2.00% – 2.50% p.a.

At the time of writing, the account’s projected net yield is 2.00% – 2.50% p.a. 

However, do note that this rate of return is not guaranteed and might fluctuate due to economic conditions.

Minimum Initial Deposit

With Grab Earn+ you can start investing your money from as low as $1.

Fees

Although GrabInvest does not charge any fees, there is a 0.59% p.a. average fund management fee, which is already included in the projected yield.

Liquidity

In terms of liquidity, there is no lock-in period.

You can make instant transfers to your GrabPay wallet with a minimum transfer amount of $1.

This means that you can instantly withdraw your funds to your GrabPay wallet and use your GrabPay Mastercard for contactless payments or online purchases!

However, if the withdrawal amount exceeds 90% of the available withdrawal amount, it will result in a full withdrawal.

Otherwise, it would take approximately four to five business days to withdraw your full balance to your bank account, provided there are no other withdrawals being processed.

Risk

The money that you deposit into the Grab Earn+ account is split between two funds:

  1. Fullerton Short Term Interest Rate Fund (50%)
  2. UOB AM United SGD Fund (50%)

This means that the risk is somewhere between Endowus Cash Smart Enhanced and Endowus Cash Smart Ultra.

Cash and SRS

One limitation of this account is that it is cash-only.

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Closing Thoughts

Apart from accessing based on the criteria mentioned above, it would do you good to explore the customer experience when investing with these companies.

For those with apps such as Endowus, Grab and Syfe, you may also want to check out reviews about the user interface.

Cash Management Account Alternatives

If you’re looking for other options which are capital guaranteed.

You might want to consider an insurance savings plan.

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About Joel Koh
History student turned writer at Seedly. Before you ask, not a teacher. I hope to help people make better financial decisions and not let money control them.
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