I deposited $30k into StashAway as investment rather than leaving it in the bank as that is my spare cash. Now I’m thinking could I have used the 30k and invest in elsewhere more profitable. Any advice? - Seedly
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Anonymous

Asked 2w ago

I deposited $30k into StashAway as investment rather than leaving it in the bank as that is my spare cash. Now I’m thinking could I have used the 30k and invest in elsewhere more profitable. Any advice?

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PillowCase
Level 5. Genius
Answered 2w ago

Hey there.

If you are considering high-interest savings accounts, CIMB has recently announced today that they will be revising their interest rate for FastSaver. You might want to take a look here.

Other alternative choices that do not require spending/minimum sum include:

Singlife Account (2.5% p.a, capaital guaranteed, interest non guaranteed)

FSM Auto-Sweep Account (1.05%p.a, interest rates may be revised)

Stashaway Simple (1.9%, capital non guaranteed, interest non guaranteed)

SCB JumpStart (1%p.a, only for aged 18-26)

Crypto Earn (Depending on currency, as high as 16%p.a (CRO) without any prior staking. However, do take note of the volatility of cryptocurrencies. For higher interest rates, a fixed duration of 90 days is imposed before withdrawal can be made. Intetest is paid out every 7 days)

Crypto Exchange (20%p.a for CRO currency. Similar to Crypto Earn, just that fixed duration is set at 180 days. Interest is paid out daily)

Vivid Account (1.05% p.a for first 10k, 1.30% for 10k-20k)

Tiq 3 Year Endowment Plan (2.10%p.a, guaranteed)

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Jefremy
Level 4. Prodigy
Answered 2w ago

Stashaway or Wahed Invest are ETF based robo advisors which offer liquidity of 1 to 3 working days.

If you're talking about 30k pure investment monies, I.e not emergency funds. Better off looking for asset backed low risk instruments. They can yield 8 - 10% for a 12 month lock in.

Google search it yourself and DYDD.

If it is pure investments, yes you can do better!

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Frankie Rappaport
Frankie Rappaport

1w ago

Thank you both, I only can state that i do not believe in 8-12% per year promises classified as low risk. this is, as everybody knows, absolutely impossible as a promise or credible expectation for a customer for sure.
Frankie Rappaport
Frankie Rappaport

1w ago

When i wrote "all fake" i meant of course not the MAS authorization but only the general value proposition of the writer to achieve easily a 8-12% annual performance with associated low risk asset classification
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered 2w ago

There are many options, some good, some bad.

What I would do and avoid:

https://seedly.sg/questions/what-is-your-general-investing-philosophy-strategy

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Gideon Ng
Gideon Ng
Level 5. Genius
Answered 2w ago

Hi Anon, it really depends on your risk profile.

StashAway would have 'safer' returns since it invests in ETFs, so the returns will be steady, but will be much less compared to if you invested that money into individual stocks.

So you'll need to consider how much risk you're willing to take, and how much research you're willing to do to invest in investment vehicles that have higher rewards, but they come with higher risks too.

There is no right or wrong answer to investing, and it really depends on the individual. So you'll need to see which vehicles you're most comfortable with and go ahead with that product!

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