Interest rates on bank savings accounts are horrible these days. Almost every week, we hear a new bank is cutting interest rates on their flagship account. I’ve summarized the latest rates below (assuming average spending) – and you can see how hard it is to even hit 1.0%.

Account	Interest
DBS Multiplier	0.8% on $50,000
OCBC 360	1.08% on $75,000
UOB One	1.0% on $75,000
CIMB Fast Saver	0.4625% on $100,000
Singlife	1.1% on $100,000

So when Syfe Cash+ launched with a 1.75% yield on cash, it really got me interested.

Basics: What is Syfe Cash+

Long story short, Syfe Cash+ is a money market fund, similar to StashAway Simple and EndowUs Cash Smart. The key features to note are:

• 1.75% yield per annum (projected)
• Not SDIC insured – NOT risk free
• No lockups (but 2-4 working days to process credit/withdrawal)
• No minimum amount (and no maximum)
• No management fee

1.75% yield per annum (projected)

There used to be a time when Singapore Savings bonds yielded a good return (2%+). Well, that time is long gone now....