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Is StashAway Simple a good alternative to a savings account?
With the recent slashing in interest rates of savings accounts, wondering is StashAway Simple a good alternative?
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Jonathan Chia Guangrong
05 Dec 2020
SOC at Local FI
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Yes compared to banks rates
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Yes and no. SA's return is much higher, but you don't have immediate withdrawals like you would have...
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It'll be one of the choices on hand as an alternative to current bank account / fd ones. For me I'll start with singlife first for the 2% then layer into other cash management platforms.
Singlife's application process may take some time though; still pending for approval after a couple of weeks.