facebookAre cash management accounts a good alternative to savings accounts taking into account the fees they charge as well? - Seedly

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Anonymous

09 Dec 2020

Saving Hacks

Are cash management accounts a good alternative to savings accounts taking into account the fees they charge as well?

Read the Seedly blog article (which was very useful btw - https://blog.seedly.sg/cash-management-accounts...) but I realised there are fees involved for cash management accounts... Is it still worth shifting over?

Discussion (8)

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I have been maximizing all insurance saving accounts available from Singlife, Elastiq ( Back then when the product was still available and still the best by now).

Maybe then i will sign up Easy Dashearn or Gigantiq.

The biggest underline is cash management is not capital guaranteed though the risk is very low (knock the wood if you need cash and suddenly the value drops).

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I would layer my cash into such cash management accounts after maximising the highest interest rate ...

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