If you’ve been parking your money in a regular savings account, chances are you’re earning less than you should be.
I’ve tried and tested various cash management accounts Singapore offers, and one thing is clear – most people are leaving easy returns on the table without even realising it.
In this post, you’ll learn:
- The best cash management accounts in Singapore right now
- How each platform compares (returns, fees, liquidity)
- What risks you need to understand before putting money in
- How to choose the right account based on your goals
If you want your spare cash to work harder without taking unnecessary risks, keep reading.
Comparison of Cash Management Accounts in Singapore
| Cash Management Account | Projected Returns (after fees) | Min. balance | Min. Initial Deposit | Sources of Funding (Cash/SRS) | Withdrawal time (Roughly)Â | Underlying Funds | Fees |
| Chocolate Finance (SGD) | 2% p.a. on your first S$20k, 1.8% p.a. on your next S$80k and up to 1.8% p.a. on any amount above that. | – | – | Cash | Over 90% are completed within 30 hours. | Dimensional Short-Term Investment Grade Fixed Income SGD Fund (DSF), UOBAM United SGD Fund (USF), Fullerton Short Term interest rate SGD Fund (FST), LionGlobal Short Duration Bond SGD Fund (LGF), Amova Short Term Bond Fund (NST) | Only once the return has been achieved and the fund outperforms the returns, Chocolate Finance will take a fee of between 0-2%, depending on how much the portfolio outperforms. They will never take any money from your 2% p.a. returns on your first S$20k or amounts thereafter for performance below 1.8% p.a. |
| Chocolate Finance (USD) | 4.1% p.a. on your first US$20k, 3.8% p.a. on the next US$30k and up to 3.8% p.a. on any amount above that | – | – | Cash | Over 90% are completed within 30 hours. | Dimensional Global Short-Term Investment Grade Fixed Income USD Fund (DSU)
Fullerton Short Term interest rate USD Fund (FST) LionGlobal Short Duration Bond USD Fund (LGF) Aberdeen SICAV I Short Dated Enhanced Income USD Fund (ASF) Amova Shenton Short Term Bond USD Fund (NST) |
Only once the return has been achieved and the fund outperforms the returns, Chocolate Finance will take a fee of between 0-2%, depending on how much the portfolio outperforms. They will never take any money from your 4.1% p.a. returns on your first S$20k or amounts thereafter for performance below 3.8% p.a. |
| Syfe Cash+ Flexi (SGD) | 1.6% to 1.7% p.a. | – | – | Cash & SRS | 2-3 working days | -30% LionGlobal SGD Money Market Fund
– 70% LionGlobal SGD Enhanced Liquidity Fund SGD Class I (Accumulation) |
SGD: 0.05-0.15% per annum
+ Fund Fees |
| Syfe Cash+ Flexi (USD) | 3.7% to 3.8% p.a. | – | US$10k | Cash | 2-3 working days | -50% JPMORGAN LIQUIDITY FUNDS USD LVNAV SELECT
-50% BNP PARIBAS INSTICASH USD 1D LVNAV |
USD: 0.15% to 0.20% p.a.
+ Fund Fees |
| StashAway Simple | 1.6% p.a. | – | – | Cash, SRS | 3-4 working days | -30% LionGlobal SGD Money Market Fund
-70% LionGlobal SGD Enhanced Liquidity Fund SGD |
-0.15% p.a.
-Fund Fees |
| FSMOne AutoSweep | 1.104% p.a. | – | $50 | Cash | 2 working days | -90% iFAST SGD Enhanced Liquidity A SGD (AS)
-10% Cash Account |
-Management Fee: 0.05% per quarter
-Fund Fees |
| Endowus Cash Smart Secure | 1.4% p.a. | – | $1000 | Cash, SRS | 6 working days | -50% Fullerton SGD Cash Fund
-50% LionGlobal SGD Enhanced Liquidity |
-Endowus Fee: 0.15% p.a.
– Fund Fees |
| Endowus Cash Smart Enhanced | 1.9% p.a. | – | $1000 | Cash, SRS | 6 working days | -50% UOB United SGD Fund
-30% LionGlobal SGD Enhanced Liquidity -20% 20% Fullerton SGD Cash Fund |
-Endowus Access Fee: 0.15% p.a.
– Fund Fees |
| Endowus Cash Smart Ultra | 2.2% p.a. | – | $1000 | Cash, SRS | 6 working days | -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 |
-Endowus Access Fee: 0.15% p.a.
– Fund Fees |
Accurate as of 25 March 2026
Chocolate Finance
This cash management account is one of the newer platforms in Singapore and has quickly gained attention due to its simple structure and relatively competitive returns.
Chocolate Finance offers:
- 2% p.a. on your first S$20k,
- 1.8% p.a. on your next S$80k, and
- Up to 1.8% p.a. on any amount above.
Have spare USD instead lying around?
Well, you’ll be glad to hear that you’ll get:
- 4.1% p.a. on your first US$20k,
- 3.8% p.a. on the next US$80k, and
- Up to 3.8% p.a. on any amount beyond that
This places it among the higher-yielding cash management accounts available, especially for investors looking to park short-term funds.
One of the key advantages is that there is no minimum deposit and no minimum balance required, making it accessible whether you are starting with a small amount or deploying larger sums.
In addition, the platform provides daily returns, allowing you to track your earnings on a day-to-day basis instead of waiting for monthly or quarterly updates.
When it comes to liquidity, withdrawals are relatively fast, with over 90% being completed within approximately 30 hours, which is competitive compared to many other providers.
Another differentiating factor is its fee structure.
Chocolate Finance does not charge fees upfront and will only take a fee if the portfolio outperforms its target return, capped between 0–2%.
This means that if returns do not exceed the stated rates, no performance fee is taken.
What’s more, if the returns fall short, the platform will top up the difference to ensure you receive 2% p.a. on your first S$20k and 1.8% p.a. on your next S$80k.
Yes, their Top-Up Programme will even top up your USD account if the returns fall short too!
Overall, Chocolate Finance provides a straightforward and flexible option for investors looking to earn a stable return on their spare cash without complex requirements.
Check Chocolate Finance out here.
Syfe Cash+ Flexi
The Syfe Cash+ Flexi is one of the more popular cash management accounts among investors in Singapore.
Syfe Cash+ Flexi offers projected returns of around 1.6% to 1.7% p.a., which is competitive for a low-risk cash management solution.
The portfolio is constructed using a mix of money market and liquidity funds, with approximately 30% allocated to the LionGlobal SGD Money Market Fund and 70% to the LionGlobal SGD Enhanced Liquidity Fund.
This allocation provides a balance between stability and yield, making it suitable for investors who want slightly higher returns while still maintaining relatively low risk.
One of the key advantages of Syfe Cash+ Flexi is that it allows funding via both cash and SRS, giving investors more flexibility depending on their financial goals.
In addition, there is no minimum initial deposit or minimum balance required, making it highly accessible even if you are just starting out.
When it comes to liquidity, withdrawals typically take around 2 to 3 working days, which is standard for most cash management accounts.
In terms of fees, Syfe charges a relatively low platform fee ranging from 0.05% to 0.15% per annum, on top of the underlying fund fees.
Overall, Syfe Cash+ Flexi provides a well-balanced offering, combining accessibility, reasonable returns, and flexibility, making it a strong all-round option for managing your spare cash.
Endowus Cash Smart
If your goal is to invest using your SRS funds, Endowus Cash Smart is one of the most suitable cash management accounts available in Singapore.
Endowus offers 3 different portfolios under its Cash Smart solution, allowing you to choose based on your risk appetite and return expectations.
The Cash Smart Secure portfolio is the most conservative option, with returns of around 1.4% p.a., focusing on capital preservation and stability.
The Cash Smart Enhanced portfolio takes on slightly more risk, with projected returns of around 1.9% p.a., by allocating more into higher-yielding short-duration bond funds.
For those seeking higher returns, the Cash Smart Ultra portfolio offers projected returns of around 2.2% p.a., although this comes with higher volatility compared to the other two options.
Across these portfolios, funds are diversified into a mix of institutional-grade funds such as Fullerton SGD Cash Fund, LionGlobal SGD Enhanced Liquidity Fund, and UOB United SGD Fund.
One of the key advantages of Endowus Cash Smart is that it supports both cash and SRS funding, making it a flexible option for investors looking to optimise their retirement funds.
However, there is a minimum initial investment of S$1,000 required, which may be a consideration for some investors.
In terms of liquidity, withdrawals typically take around 6 working days, which is longer compared to some other cash management accounts.
Endowus charges a platform fee of around 0.15% p.a., on top of the underlying fund fees.
Overall, Endowus Cash Smart is a strong option for investors who want flexibility in risk levels and the ability to deploy SRS funds into a professionally managed, diversified portfolio.
What are cash management accounts, and how do they work?
Cash management accounts work in a similar manner as regular saving accounts opened with banks.
The difference being that you open these accounts with financial institutions other than banks.
These could be investment platforms or brokerage firms. These accounts provide you with an investing component yet allowing you the flexibility to make withdrawals at any time.
The way it works is quite simple. Just like any other bank account, all you need to do is deposit some money into your cash management account. It will then automatically help you earn money through low-risk investment.
However, these low-risk investments are usually slightly higher risk than the ones from your regular savings account with a bank, which can translate to higher returns for you.
Unlike banks, they’re also not SDIC-insured, so there is still risk that you’ll be taking to achieve higher returns than traditional banks.
What do cash management accounts invest in?
At a high level, cash management accounts don’t just “hold” your money like a bank does.
Instead, they automatically invest your cash into a portfolio of low-risk, short-term instruments designed to generate a slightly higher return than a traditional savings account.
Think of it like your money being put to work in the background – quietly earning while still remaining relatively liquid.
Here’s what they typically invest in:
1. Money market funds
These are ultra short-term instruments that invest in things like Treasury bills, fixed deposits, and high-quality corporate debt.
They focus on stability and liquidity, which is why they’re commonly used as the “base layer” in most cash management accounts.
2. Short-duration bond funds
These funds invest in bonds that mature in the near term (usually within 1–3 years).
Because of the shorter duration, they tend to have lower interest rate risk compared to longer-term bonds, while still offering slightly better yields.
3. Liquidity funds
These are designed specifically to manage short-term cash efficiently.
They invest in high-quality, highly liquid instruments so that withdrawals can still be processed within a few days.
4. Institutional-grade fixed income funds
Some platforms include diversified portfolios of institutional funds.
These may combine multiple short-term bond strategies to improve returns while keeping volatility relatively low.
A quick real example:
If you look at how portfolios are structured, many providers follow a simple mix.
For example, some allocate around 30% to money market funds and 70% to liquidity funds, creating a balance between stability and yield.
Others go further by adding multiple short-duration bond funds to enhance returns slightly.
These investments are generally considered low risk, but they are still investments.
That means:
- Returns are not guaranteed
- Your capital can fluctuate slightly
- They are not protected by SDIC
A simple way to think about it:
A cash management account sits somewhere between a savings account and a bond fund.
You get better returns than a bank account, but in exchange, you take on a small amount of investment risk.
What to look out for when choosing cash management accounts?
Although it may not be entirely necessary to open a cash management account, it can be a great help when it comes to growing your assets!
Moreover, one of the best parts is that most cash management accounts have zero monthly fees or require a small amount only.
So, if you decide to open a cash management account, you are probably thinking about growing your money.
With such a vast number of options available for you when it comes to opening your account, you may get confused. With that in mind, here are 2 important things to look out for when choosing cash management accounts:
First of all, you will have to take note that since a cash management account is essentially an investment, your account will not be protected by the Singapore Deposit Insurance Scheme (SDIC).
Hence, like all investments, there is some risk to having a cash management account even though it is relatively low.
Secondly, always do your own due diligence and check for things such as fees (from the fund and account provider), minimum initial deposit value, and minimum balance amounts.
This way you can be sure that you are able to fulfil the criteria and maintain the account in the longer run. You can also try to understand the underlying fund of each provider’s cash management, such as the type of fund it is so that you have a good understanding of what you are entering into.
If all these prove to be too complicated for you, you can always opt to seek advice from a trusted financial advisor.
Advantages of Cash Management Accounts
Now, how about reading up on some of the advantages of cash management accounts? This way, you will be able to know what you’re dealing with here!
Setting up is easy
Once you have an account of your own with the respective provider, you can easily create your account online. With quick, simple, and easy steps, it won’t take you more than 5 minutes for account creation.
Cash management is automatic
Once you open your account, the cash management becomes automatic. This means that you’ll be looking at maximising your profits with minimal effort!
All you have to do is make a deposit via online/mobile banking and everything’s done!
Ability to use money from your Supplementary Retirement Scheme (SRS) account
In Singapore, you are able to use your SRS account to fund certain cash management accounts instead of your own cash.
By doing this, you can earn some interest while getting tax relief, effectively killing two birds with one stone!
Disadvantages of Cash Management Accounts
Cash management accounts also come with some disadvantages. Some of these are:
Not entirely risk-free
Even though cash management accounts are low-risk investments, they are still investments.
There will always be the element of risk in any investment, and cash management accounts are no exception.
These accounts are not backed by large financial institutions or the SDIC.
Low returns
Cash management accounts although investments, have low returns. If you’re looking to achieve high returns, this is not for you.
This is more of a higher risk (and returns) savings account.
You may have to pay some fees
Some cash management accounts may require you to pay a monthly fee or maintain a minimum balance. In some cases, you may also have to pay a small fee while transferring your money to a bank account.
Conclusion
Now that you have gained insight into the best cash management accounts, you are all ready to start saving!
No matter which accounts you opt for, it all depends on the risk you are willing to take and the reason why you want these funds in your account.
Some prioritise higher returns, others focus on liquidity, while a few give you flexibility with SRS or lower fees.
If you’re still unsure which option fits your situation, that’s completely normal – this space can get confusing quite quickly.
If you’re looking to invest or want ideas on how to invest your savings, talk to a financial advisor so that you don’t make the wrong choice.
