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Anonymous
Are these cash management accounts really as liquid as they say? Is there a minimum amount or fees for these accounts?
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Definitely not stashaway for now as they r now offering only 1.4 & their withdrawal took days (i wdrew on a weekday)
Syfe cash+ : 1.7 : not too bad
endowus - too many requirements
singlife for first 10k!! 2%! And it beats the rest in terms of wdrawl speed! Instantly!
as the question set is: which is the best "savings" ac?? Keywd is saving and the intention of the qn is obvious! while we saved for rainy days or daily usage, it shouldnt take too long for wdrawl and some of them positioned themselvesas Bein simple and no-frills
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HC Tang
04 Jan 2021
Financial Enthusiast, Budgeting at The Society
Seedly provide a good summary and comparison at :
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Have you checked out Singlife? Singlife is probably the best place to store your savings. They offer 2% interest pa for first $10K. 1% interest for the next $90K. The best part is that the first $100K capital is guaranteed under SDIC. I don’t think the 3 accounts have capital guarantee.
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Syfe
31 Dec 2020
Hi there! There are no Syfe management fees or minimum deposit amount for Syfe Cash+.
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It depends on what you're looking at. For returns, I'd say Syfe Cash+ at 1.75% or Endowus Cash Management Ultra at 1.7% to 1.9% p.a.
Cash+ has no minimum deposit and no fees but Endowus Cash Management Ultra has a min $10K deposit for new users + a 0.05% access fee.
if you're thinking in terms of which is the least risky, you can consider Stashaway Simple because it doesn't hold any short duration bond funds unlike the other two. You can check out my comparison here for more details!
For withdrawal times, I think all three will need at least 3 - 5 working days. Cos they need to redeem your bonds, wait for the fund manager to transfer your proceeds to them, then transfer the funds to your bank account.