The banks did it again. In just a few months, several popular savings accounts had their interest rates cut multiple times. For example, Standard Chartered’s Jumpstart account, an account which I have been using since late 2019 had its interest rate cut twice from 2% to 0.4% in months. OCBC 360, OCBC’s flagship savings account had its interest rate cut for the fourth time since May last year.
Many Robo-Advisors saw this opportunity and introduced their own cash management solutions – with Stashaway among the first. Lately, Syfe joins its other Robo-Advisors competitors to introduce its own cash management portfolio called Syfe Cash+. In this post, we will discuss more about the product and how it compares to other alternative savings products. Also, I will be sharing my thoughts on how I will be allocating my spare cash with the introduction of Syfe Cash+.
Features about Syfe Cash+
- Projected returns of 1.75%, highest among cash management solutions products for now.