What are your thoughts on the new Syfe Cash+ account with 1.75% projected returns pa? - Seedly
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Anonymous

Asked on 22 Dec 2020

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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    Issac Lim

    Level 3. Wonderkid

    Answered on 23 Dec 2020

    I think u can look into Singlife, they have a 2% PA with the first 10k deposit.

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    Question Poster

    29 Dec 2020

    Yeah by next best i meant after singlife HAHAHA

    Shun

    30 Dec 2020

    Now you have to be in Singlife waitlist until 2021.
    Thank You!
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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.

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    Quite competitive, better than Stashaway simple, almost on par with Endowus cashsmart

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    Jesslyn

    4w ago

    It IS comparable as all these cash management services money market funds. The only difference is the MMF used
    Elsie kok

    Elsie kok

    2w ago

    This is so helpful 👍
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    Easily achievable.

    Normally this kind of cash+ account underlying are money market fund & fixed income. With fixed income min. 3+% p.a.

    I would just buy a few bond fund.

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    Ivan Guan

    Ivan Guan

    4w ago

    Bond funds and cash facilities are different animals. If a person is going for a cash+ account, they don't want to lose their principle at any time. a bond fund cannot achieve that.
    Elsie kok

    Elsie kok

    2w ago

    Thank You!
    Thank You!
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    Syfe

    Syfe

    Answered 4w ago

    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-tickets-132883615471?aff=

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    Aik Kai

    Aik Kai

    Level 7. Grand Master

    Answered on 29 Dec 2020

    This is similar to Stashaway Simple. They just invest into money funds.

    Won't say this is the "next best" as returns depend on fund performance so there is a certain risk to it

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    Question Poster

    29 Dec 2020

    Thank You aik kai!
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
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