facebookI have been using Singlife to park my funds previously but realised that they have been slashing their rates. - Seedly

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Anonymous

08 Jan 2022

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General Investing

I have been using Singlife to park my funds previously but realised that they have been slashing their rates.

Would you recommend to continue using Singlife or move to Dash PET or have both Singlife and Dash PET? I understand that for Dash PET, there will be a charge for withdrawal though. Or am i better off investing in Syfe instead? Appreciate your advise. Thanks.

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Arman Mohamad

10 Jan 2022

Seedly Student Ambassador 2021/22 at Seedly

Hi Anon, I'm assuming these funds are for investment purposes and you are okay with parting with it for a few years. In that case, like what the rest have mentioned, you can invest it in Syfe's portfolios. You can also look at other Robos like EndowUs or Stashaway!

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However, if you are talking about emergency funds, I think you can leave it in any money market/cash accounts that net you 1-2% per annum. They're liquid and easily withdrawal. Dash PET and Syfe Cash+ are a good start but again, you can look at other Robos!

I assume you mean syfe as in syfe cash+, not their investment portfolios. investing is not there to "park" funds. it is for the long term.

not familiar with dash. but i have both singlife and syfe cash+.

both serve different purposes. singlife deposit and withdrawal almost immediate and there are no worries of volatiity. whereas syfe cash+ gave me higher returns for some volatility.

for me as long as singlife pays higher than banks' fixed deposit rates, i will not be too bothered.

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hope this helps.

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