I have a Singlife account (maxed at 10K) and Singtel Dash (maxed at 20K). Where else can I put my money (~30-50K) if I need it in a year? Robo Advisors or Elastiq?

These are some of the best cash management plans that provide guaranteed savings.

Personally, I max out the SingLife with 10k and use some of my remaining money on Dash-Etiqa. These are the main bulk of my savings and I choose these platforms as they provide higher returns (compared to other similar plans) that are guaranteed and risk-free.

I spend the remaining on Robo-advisors such as StashAway. This constitutes 25% of my wealth and it provides a good entry point for investment as they have good commentary and explanation/Breakdown for your savings.

However, this is the risk involved in Robo-Advisor. Elastiq, on the other hand, has guaranteed a 1.8% return p.a. The sum is also protected by SDIC. Thus, it is important to consider these factors. If the money is to pay off certain student debt or saving for something in a couple of years. Maybe Elastiq would be a better choice.

For Elastiq, here are some of the advantages it has:

1) Policy Protected by SDIC

This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC).

2) Guaranteed return

There is a guaranteed return of 1.8% p.a. for the first 3 years. This is quite competitive in this climate of low-interest rates.

3) Flexible Withdrawal

There is only a 90 days lock-in period. You can withdraw anytime after the 90 days lock-in period without penalty.

This article by The Kiam Siap Life provides a good analysis of the pros and cons of ELASTIQ.

While Robo-advisor may have potentially higher return rate, do note that it is not guaranteed.Do check out our NDP promotion for Elastiq if you are are interested to find out more.​​​