StashAway launched a new cash management product called Simple Guaranteed on 24 April 2023. This is in addition to its 2 existing cash management products, Simple and Simple Plus. In this post, I’ll review Simple Guaranteed and compare it against other options in the market. Read: StashAway launches third cash management portfolio with fixed deposit holdings, daily-reviewed rates Product Highlights

• No minimum or maximum amounts
• No fees
• Lock in for 6 months
• Rate is guaranteed once locked in (3.6% p.a. as of 11 Aug 2023)
• Underlying is fixed deposit with Citibank
• Not covered under SDIC (refer to FAQs)

Source: StashAway Market Comparison Within StashAway Simple products, Simple Guaranteed invests in fixed deposit vs Simple and Simple Plus that invest in money market funds and bond funds. Simple and Simple Plus don’t have any lock-in periods. StashAway Simple has lower projected rate of 3.5% (after fees), so is not as attractive as StashAway Guaranteed. Simple Plus has much higher projected rate of 4.6-5% (after fees),...