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What are your thoughts on the new Syfe Cash+ account with 1.75% projected returns pa?
With no limits and unlimited withdrawals, is this the next best liquid savings account?
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Syfe
31 Dec 2020
Hey there! Thanks for your interest in Syfe Cash+. To find out more, do join our webinar with LionGlobal on 7 Jan 2021, 7pm. You may sign up here: https://www.eventbrite.sg/e/launch-of-syfe-cash...
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This is similar to Stashaway Simple. They just invest into money funds.
Won't say this is the "next...
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It's quite attractive IMO! One of the highest at 1.75% p.a.
The closest competition is actually Endowus' new Cash Management Ultra at 1.7% to 1.9% p.a. They released this after dropping the rate on their Cash Smart Enhanced product to 1.4 - 1.6%. Do check out my comparison here for more details!
In terms of liquidity, I think Singlife was still the best. You could get your funds almost instantly.
For Syfe, Endowus & Stashaway, the withdrawal time is at least 3 - 5 working days. It's almost impossible to be any faster because they will need to redeem your bonds, wait for the fund manager to transfer your proceeds to them, then transfer the funds to your bank account.