Gone are the days of 4% risk-free yields from fixed deposits or Singapore Savings Bonds. But the good days aren’t over yet!
Cash Management Accounts (CMA) combine the best of both worlds: higher yields and liquidity. These accounts, often offered by brokers or roboadvisors, let you access your funds easily if you decide to trade.
Perfect for maximizing short-term yields while keeping your cash accessible, CMAs may require opening an investment account, but there’s no pressure to trade. Just park your spare cash and enjoy the sweet returns!
Best Cash Management Accounts in Singapore (Jun 2024)
I’ve compiled the best Cash Management Accounts in Singapore, as of 17 June 2024, into a table here.
Take note that I’ve only included SGD yields. These yields tend to fluctuate on a 7-day basis, you can check the latest yields by tapping on the links provided in the table.
| Platform | Cash Management Account | Projected Annual Yield (%) | Underlying Funds | Fees (Management Fee + Fund level Fees) | Type of Platform |
|---|---|---|---|---|---|
| Endowus | Endowus Cash Smart: Ultra | 4.3% to 4.6% p.a. | 10% Fullerton Short Term Interest Rate Fund 10% LionGlobal Short Duration Fund 10% PIMCO Low Duration Income Fund 15% Fullerton SGD Cash Fund 20% LionGlobal SGD Enhanced Liquidity Fund 35% UOB United SGD Fund |
0.44% p.a. | Roboadvisor |
| Endowus | Endowus Cash Smart: Enhanced | 3.9% to 4.2% p.a. | 50% UOB United SGD Fund 30% LionGlobal SGD Enhanced Liquidity 20% Fullerton SGD Cash Fund |
0.42% p.a. | Roboadvisor |
| Endowus | Endowus Cash Smart: Secure | 3.4% to 3.7% p.a. | 50% Fullerton SGD Cash Fund 50% LionGlobal SGD Enhanced Liquidity | 0.35% p.a. | Roboadvisor |
| StashAway | StashAway Simple Plus | 4.5% p.a. | 20% LionGlobal SGD Enhanced Liquidity Fund 20% Nikko AM Shenton Short Term Bond Fund 60% LionGlobal Short Duration Bond Fund |
0.4% p.a. | Roboadvisor |
| StashAway | StashAway Simple | 3.7% p.a. | 30% LionGlobal SGD Money Market Fund 70% LionGlobal SGD Enhanced Liquidity Fund |
0.3% p.a. | Roboadvisor |
| StashAway | StashAway Simple Guaranteed | 3.5% p.a. (1 month) 3.6% p.a. (3 months) 3.5% p.a. (6 months) 3.3% p.a. (12 months) |
Fixed Deposits in Singapore Banks | nil | Roboadvisor |
| Maribank | Mari Invest SavePlus | 3.87% | Lion-MariBank SavePlus fund | 0.125% p.a (till 30 Jun 2024) 0.25% p.a. thereafter |
Digital Bank |
| Syfe | Syfe Cash+ Flexi | 3.75% – 3.85% p.a. | 30% LionGlobal SGD Money Market Fund 70% LionGlobal SGD Enhanced Liquidity Fund |
0.05% to 0.15% p.a. | Broker / Roboadvisor |
| Syfe | Syfe Cash+ Guaranteed | 3.7% p.a. (3 months) 3.6% p.a. (6 months) 3.5% p.a. (12 months) |
Fixed Deposits in Singapore Banks | nil | Broker / Roboadvisor |
| POEMS | Phillip Smart Park | 3.3% | Phillip Money Market Fund | 0.49% p.a. | Broker |
| moomoo | Moomoo Cash Plus | 3.34% | Fullerton SGD Cash Fund | Broker | |
| iFast | iFast Auto-Sweep | 3.204% | iFAST SGD Enhanced Liquidity A SGD | 0.05% per quarter | Broker |
| Tiger Brokers | Tiger Vault | ~2.4%, up to 5% | Choice of: Fullerton SGD Cash Fund United SGD Money Market LionGlobal SGD Enhanced Liquidity |
Fund level fee only. Details below. | Broker |
Endowus (3.4% – 4.6% p.a.)
Another key roboadvisor in Singapore, Endowus also offers three cash management accounts for its clients. They are:
- Ultra (4.3% to 4.6% p.a.)
Offering the highest yields, Endowus’ Cash Smart Ultra invests in a diverse portfolio of money market funds and short duration bonds:
- 10% Fullerton Short Term Interest Rate Fund
- 10% LionGlobal Short Duration Fund
- 10% PIMCO Low Duration Income Fund
- 15% Fullerton SGD Cash Fund
- 20% LionGlobal SGD Enhanced Liquidity Fund
- 35% UOB United SGD Fund
With exposure to short duration bond funds, you should be comfortable with sharper drawdowns and higher volatility in terms of yields if you’re investing in this. Fees of 0.44% are applicable, and projected yields reflected are after fees.
You can choose to transfer your funds in cash or use your SRS funds to invest in the Endowus’ Cash Smart Ultra cash management account.
- Enhanced (3.9% to 4.2% p.a.)
The Endowus Cash Smart Enhanced account invests these underlying funds:
- 50% UOB United SGD Fund
- 30% LionGlobal SGD Enhanced Liquidity
- 20% Fullerton SGD Cash Fund
This provides lower risks compared to the Ultra account while providing higher yields. The fee is at 0.42% p.a.
You can choose to transfer your funds in cash or use your SRS funds to invest in the Endowus’ Cash Smart Enhanced cash management account.
- Secure (3.4% to 3.7% p.a.)
According to Endowus, this option allows you to grow your cash via some of the best performing money market funds in Singapore:
- 50% Fullerton SGD Cash Fund
- 50% LionGlobal SGD Enhanced Liquidity
The Secure account was designed to offer good yields with maximal capital preservation, and has a 0.35% fee.
You can choose to transfer your funds in cash or use your SRS funds to invest in the Endowus’ Cash Smart Secure cash management account.
Endowus shares the latest projected yields here.
StashAway (3.3% – 4.5% p.a.)
StashAway is one of the oldest roboadvisors in Singapore, having been in the scene since 2016. The company offers three cash management account options for you to grow your cash, depending on your risk appetite:
- StashAway Simple Plus (4.5% p.a.)
The StashAway Simple Plus offers a 4.5% yield, after fees. Currently, it generates yields by investing in these underlying funds:
- 20% LionGlobal SGD Enhanced Liquidity Fund
- 20% Nikko AM Shenton Short Term Bond Fund
- 60% LionGlobal Short Duration Bond Fund
More funds invested generally means higher management fees. This option comes with a 0.4% p.a. fee of which half goes to the underlying fund managers and the other half goes to StashAway.
You can choose to park your spare cash or your SRS funds in StashAway’s Simple Plus cash management account for higher rates.
Yields may be more volatile due to exposure to short term bond rates, so make sure you’re comfortable with short term volatility if you’re considering this! To counter this, StashAway recommends parking your cash in here for at least 12 months.
- StashAway Simple (3.7% p.a.)
If you prefer to park your cash where yields are more stable, StashAway offers its Simple cash management account with a projected yield of 3.7% p.a. after fees.
StashAway Simple holds these underlying funds:
- 30% LionGlobal SGD Money Market Fund
- 70% LionGlobal SGD Enhanced Liquidity Fund
It charges a management fee of about 0.3% p.a. Like the Simple Plus, you can choose to put cash or SRS funds into the StashAway Simple account.
- StashAway Simple Guaranteed (3.3% – 3.6% p.a.)
This option has the lowest risks and invests in a range of fixed deposits offered by banks regulated by the MAS.
At the point of writing, the StashAway Simple Guaranteed offers:
| Tenor | Guaranteed rate (p.a.) |
| 1 month | 3.5% |
| 3 months | 3.6% |
| 6 months | 3.5% |
| 12 months | 3.3% |
You can use both cash and SRS funds to invest in StashAway’s Simple Guaranteed cash management account.
But remember, due to its structure, this account functions more like a fixed deposit than a typical cash management account. You will not be able to withdraw your funds during the tenor!
The main advantages to considering this option are that there is no minimum deposit, and you can use it to grow your SRS funds.
You can see StashAway’s latest yields on its cash management accounts here.
Mari Invest SavePlus (3.87% p.a.)
MariBank is a digital bank by SEA Limited. The company partnered up with LionGlobal to offer its cash management account; Mari Invest SavePlus (not to be confused with the MariBank Savings account that is offering a 2.88% yield).
Mari Invest SavePlus gives you access to the Lion-MariBank SavePlus fund, which invests mainly in MAS Bills (around 60%) and high-quality bond funds, with the aim of generating higher yields while keeping overall portfolio risk low.
If you already have funds in your MariBank Savings Account, you can transfer them into your Mari Invest account easily within the Maribank app.
Although there is a fund management fee of 0.25% p.a. (discounted to 0.125% p.a till 30 Jun 2024), there are no transaction fees nor minimum deposit. The projected return of 3.87% p.a. is based on the past 4-week return. You can find Mari Invest SavePlus’ latest yield here.
Syfe (3.5% – 3.75% p.a.)
Another roboadvisor offering cash management accounts, Syfe keeps it simple with two options for you to choose from:
- Cash+ Flexi (3.75% – 3.85% p.a.)
Syfe’s Cash+ Flexi gives you exposure to these underlying funds:
- 30% LionGlobal SGD Money Market Fund
- 70% LionGlobal SGD Enhanced Liquidity Fund
The account has a management meet of 0.05% – 0.15% p.a. Syfe also offers a similar cash management account for USD.
At the point of writing, Syfe only accepts cash investments.
- Cash+ Guaranteed (3.7% p.a.)
This option invests in fixed deposits offered by Singapore banks. Currently there are three to choose from:
| Tenor | Guaranteed rate (p.a.) |
| 3 months | 3.7% |
| 6 months | 3.6% |
| 12 months | 3.5% |
Unlike regular fixed deposit accounts, Syfe’s Cash+ Guaranteed doesn’t have a minimum investment amount, so you can start with as little as $1. You’ll however, only be able to withdraw your cash after the lock-in period.
You can see Syfe’s latest yields here.
Phillip SMART Park by POEMS (3.3% p.a.)
Phillip’s SMART Park allows POEMS clients to park their excess funds in the Phillip Money Market Fund for higher returns while maintaining liquidity. This fund generates yields by holding a portfolio of high quality, short term debt instruments like treasury bills and certificates of deposits. It also holds a mix of fixed deposits and cash.
The underlying money market fund has a fee of 0.49% per annum, but there is no additional withdrawal fee or maintenance fee for using the SMART Park account.
POEMS also offers the SMART Park account for USD, you can find the latest yields and information here. Open a POEMS account here.
Moomoo Cash Plus (3.34% p.a.)
Offered by moomoo, the Cash Plus account allows you to park your cash in the Fullerton SGD Cash Fund for a yield that’s about 3.34% p.a.
If you have USD, you can also choose to invest in the USD money market fund within your Cash Plus account:
You can redeem your Cash Plus at any time and use the funds immediately to invest. Cash withdrawal takes about 1 to 3 business days depending on your bank.
Currently, Moomoo is also offering a higher yield of 6.8% p.a. to new users, for up to 30 days. This promotion is limited for the first S$80,000 per user.
You can learn more about Moomoo’s Cash Plus account here, available for USD too. Sign up here.
iFast Auto-Sweep (3.204% p.a.)
iFast Auto-Sweep is a service that allows users to grow their cash in a higher yield-earning conservative portfolio that holds:
- 10% Cash
- 90% iFAST SGD Enhanced Liquidity fund
There are some things to note when you’re using the iFast Auto-Sweep account:
- There will be a 0.05% Auto-Sweep fee charged every quarter.
- A minimum of $50 will be require per top up or ‘sweep’
- You’ll need to withdraw a minimum of $50
iFast also offers its Auto-Sweep cash management account for USD and CNH, you can learn more here.
Tiger Vault (~2.4% p.a.)
Tiger Brokers offers the Tiger Vault that allows investors to earn a yield of ~2.4% on their idle money. If you are a Tiger Broker user and have spare cash in your account, you can now activate your vault and let your money grow while you wait for the perfect entry on stocks in your watchlists.
The Tiger Vault lets you park your cash in any of these funds:
| Fund | Yield | Fund Management Fee |
| Fullerton SGD Cash Fund “A” Acc | 3.9% (5 days rolling average, as of April 2024) | 0.16% |
| United SGD Money Market | 3.71% (weighted yield to maturity) | 0.25%, up to 2% |
| LionGlobal SGD Enhanced Liquidity | 4.1% (weighted yield to maturity) | 0.35% |
After activating your Tiger Vault, you’ll have to activate the Auto-Sweep function, then you get to choose the fund you prefer:
Tiger Vault also allows you to park your USD in several mutual funds, you can learn more here.
Do note that Tiger Vault requires 1 working day to process redemptions. Cash withdrawal takes another 1 to 3 business days depending on your bank. Sign up here.
Your Cash Can Work Harder!
You don’t have to be dismayed by lower risk-free rates, the cash management accounts I’ve shared above may offer alternatives for you to put your cash to work more efficiently.
Although they are mostly offered by brokers, they remain pretty accessible – all you need to do is to create an account and park your cash. If you’re reading our blog, you probably have an account with at least one of these brokers or banks, which makes it even more convenient for you.
Note: This article contains affiliate links. We may receive a small commission if you sign-up after clicking on one of these links. Sign-up offers are offered by the brokerages and will vary. Always check for the latest offer.