Previously known as Chocolate Finance, Core Managed Account was renamed as such in late 2023 to avoid confusion over its regulatory status. Chocolate, Core, Durian… as long as the rates are good, I doubt anyone genuinely cares about name changes. Unfortunately, the most recent change announced does impact what users care the most: from 1st May 2024, Core Managed Account’s guaranteed 4.5% p.a. rate for the first S$20,000 is reducing to 4.2% p.a. A slight dip rather than a huge drop While nobody likes nerfs, I have to say that a 0.3 percentile point drop from 4.5% isn’t the worst change in the world. For S$20,000, 4.2% p.a. will generate about S$70 interest a month, down from the approximately S$75 interest 4.5% p.a. gives. In fact, colour me surprised that they didn’t drop the rate to a round 4% p.a. instead, which would still be a pretty competitive rate given how there are virtually no requirements to meet for this account. Of course, note that this...