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Alcander Seow
Environmental Engineer Minor in Business at Nanyang Technological University
Syfe Cash+ Guaranteed or StashAway Simple Guaranteed? Which cash management portfolios should I go for to park my spare cash?
Hi, I was thinking of parking some of my bursaries funds into a fixed deposit at the start of the new year. (Local bank, mainly DBS) However, I didn't expect DBS FD interest rate to fall from 3.20% to 2.45%.
Now I'm thinking of trying out Cash Management Accounts. But which one should I go for? I'm looking into;
- Endowus Cash Smart Secure (Min $1k, 2.9%~3.2%p.a.)
- Syfe Cash+ Guaranteed (No Min, 3.1%p.a.)
- StashAway Simple Guaranteed (Min $1, 3.0%p.a.)
- UOB AM Cash+ Xtra (Min $1, 3.5%p.a.)
I'm looking to try out for 1 Year with a small amount of $1~2k.
Between the 4 platform, which would you recommended I can try out?
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I usually like to keep minimum number of accts, so if i have endowus alr, ill just put it in endowus.
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I have tried all the platforms, and all of them work great. Do note that the first three invest in roughly the same underlying assets; hence, the returns would be largely similar depending on the allocation. They are relatively stable and safe to invest in (though still less secure than fixed deposits, T-bills, or SSBs). However, the UOB option invests in the United SGD Fund Class B SGD, which is fixed-income. Therefore, the drawdowns might be larger, although the potential returns could be higher.