How is Endowus Cash Smart Enhanced different from Singlife? Both have a target return of around 2% per annum right? - Seedly
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Anonymous

Asked on 29 Oct 2020

How is Endowus Cash Smart Enhanced different from Singlife? Both have a target return of around 2% per annum right?

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    Kenny Pang

    Kenny Pang

    Level 5. Genius

    Answered on 29 Oct 2020

    Endowus Cash Enhanced is a cash management product, where they will invest your funds and aim for a projected return of up to 2% PA. Think of it like a fixed deposit with no lock-ins. Believe it takes 5-6 business days if you want to withdraw.

    Singlife is an insurance savings plan, with no lock-ins too. Good thing here is you can withdraw your money any time almost instantly. Would really depend how long you need access to these moneies. If it's several months or years, park it in Endowus. If you need instant access, go for Singlife. Personally, I park my emergency funds with Singlife, knowing that I can withdraw them anytime if I need spare cash.

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    Jonathan Chia Guangrong
    Jonathan Chia Guangrong

    02 Nov 2020

    For the Endowus cash management account, there is no need to maintain the S$10k requirement. While you do require S$10k to open it, you may withdraw it thereafter. I've personally clarified this point with Endowus.
    Question Poster

    04 Nov 2020

    Thanks for the insights @Kenny @Jay and @Jonathan for helping to clarify this! this is so helpful 👍
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post

    Singlife gives guaranteed 2% while endowus one might fluctuate (some small risk invovled)

    1

    Anon357391

    02 Nov 2020

    Singlife is not guaranteed 2%
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post