Discover the Best Cash Management Accounts in Singapore for Personal Finance!

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By Samantha Khoo

Are you looking to maximise your savings and manage your cash effectively? Singapore offers a range of cash management accounts to help you make the most of your money. These accounts provide a convenient way to earn interest on your savings while maintaining easy access to your funds.

With the best cash management accounts in Singapore, you can enjoy competitive interest rates and low risk, making them a popular choice for those seeking to enhance their personal finance strategies.

A desk with a laptop, calculator, and bank statements. A stack of cash and a piggy bank sit nearby. A graph shows increasing savings

In Singapore, cash management accounts have become increasingly popular as an alternative to traditional savings accounts, offering the potential for higher interest returns. You can find the best cash management account to suit your financial goals by comparing the available options.

Whether you’re looking to grow your savings or want a more efficient way to manage your cash, these accounts provide a range of benefits that can help you achieve your financial objectives.

1-Min Read: Cash Management Accounts Singapore

Are you tired of watching your savings languish in a low-interest account? Cash Management Accounts (CMAs) might be the exciting new chapter your finances crave! But are they the perfect fit for you?

Here’s a quick rundown of the essentials to get you started, Singaporean saver:

  • Boost Your Savings: CMAs typically offer interest rates that blow traditional savings accounts out of the water.
  • Easy Access: Unlike fixed deposits, your money remains available in a CMA whenever needed.
  • Added Perks: Many CMAs have debit cards for everyday purchases, fee-free ATM withdrawals, and even links to investment options!

Sounds too good to be true? Not quite!

CMAs come in various flavours, each with its features and benefits. The key is to find the one that perfectly complements your financial goals. Intrigued? Stay tuned for the following sections, where we unveil the exciting world of CMAs in Singapore and help you find your perfect match!

Understanding Cash Management Accounts

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What Is a Cash Management Account?

If you want to maximise your savings, a cash management account might be just what you need. A cash management account is a type of savings account that offers a higher interest rate than a traditional savings account. It’s a great way to earn more money on your savings and keep your money liquid simultaneously.

Banks, investment firms, and other financial institutions offer cash management accounts. They are designed to provide a flexible and convenient way to save money. Unlike traditional savings accounts, cash management accounts typically offer higher interest rates and allow you to withdraw your money at any time without penalty.

Benefits of Cash Management Accounts

There are many benefits to using a cash management account. One of the most significant advantages is that they offer higher interest rates than traditional savings accounts. This means that you can earn more money on your savings over time.

Another benefit is that cash management accounts are very liquid. This means that you can withdraw your money at any time without penalty. This makes them an excellent option for accessing your money quickly.

How Cash Management Accounts Work

Cash management accounts work by pooling your money with other investors and using it to invest in various financial products such as money market funds, short-term bonds, or other low-risk investments. The returns generated from these investments are then passed on to you as interest.

The amount of interest you earn on your cash management account will depend on several factors, such as the amount of money you have invested, the interest rate offered by the financial institution, and the fees associated with the account.

Cash management accounts are a great way to earn more money on your savings while keeping your money liquid. They offer higher interest rates than traditional savings accounts and allow you to withdraw your money at any time without penalty.

Top Cash Management Accounts in Singapore

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When managing your cash, you want to ensure you get the best returns possible while keeping your money safe. Luckily, there are several cash management accounts available in Singapore that can help you do just that. Here are some of the top options to consider:

Stashaway Simple

Stashaway Simple is a cash management account that offers competitive interest rates on your savings. With no lock-in period or minimum balance requirements, it’s a flexible option for those looking to earn a higher yield on their cash. Stashaway Simple also offers up to SGD 100,000 in coverage under the SDIC Deposit Insurance Scheme, so you can know your money is protected.

Endowus Cash Smart

Endowus Cash Smart is another cash management account that allows you to earn higher interest rates. This account offers projected returns of up to 2.5% per annum, making it an excellent option for short-term savings. Endowus Cash Smart also allows you to invest your SRS funds, making it a versatile choice for those looking to grow their retirement savings.

Syfe Cash+

Syfe Cash+ is a cash management account that offers projected returns of up to 2% per annum. This account is unique because it invests your cash in a diversified portfolio of short-term, investment-grade bonds and money market instruments. This means that your money is not only earning a higher yield but also being invested in a way that helps mitigate risk.

Moomoo Cash Plus

Moomoo Cash Plus is a cash management account that offers competitive interest rates on your savings. With no lock-in period or minimum balance requirements, it’s a flexible option for those looking to earn a higher yield on their cash. Moomoo Cash Plus also offers up to SGD 75,000 in coverage under the SDIC Deposit Insurance Scheme, so you can have peace of mind knowing your money is protected.

Phillip Smart Park

Phillip Smart Park is a cash management account that offers projected returns of up to 1.75% per annum. This account invests your cash in a diversified portfolio of short-term, investment-grade bonds and money market instruments, making it a low-risk option for those looking to earn a higher yield. Phillip Smart Park also offers SGD 75,000 coverage under the SDIC Deposit Insurance Scheme.

Overall, these cash management accounts are some of the best options available in Singapore for those looking to earn higher yields on their cash than traditional savings accounts can offer. Whether you’re saving for a short-term goal or looking to grow your retirement savings, there’s an account out there that can help you achieve your financial goals.

Comparing Accounts

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When it comes to choosing a cash management account, there are several factors to consider. In this section, we’ll compare the interest rates and returns, fees and charges, and access to funds and liquidity of the top cash management accounts in Singapore.

Interest Rates and Returns

One of the most important factors to consider when choosing a cash management account is the interest rate and returns. The higher the interest rate, the more money you can earn on your savings. Some accounts offer a high interest rate for a limited time, while others offer a lower interest rate but with no time limit.

For example, the Endowus Cash Smart Core account offers a gross yield of up to 1.05%, which is higher than the average interest rate offered by most banks in Singapore. On the other hand, the Singlife Account offers a 2.5% p.a. return for the first S$10,000, but only 1% p.a. thereafter.

Fees and Charges

Another important factor to consider is the fees and charges associated with the account. Some accounts may charge a monthly maintenance fee, while others may charge transaction fees or early withdrawal fees.

For example, the DBS Multiplier Account charges a S$5 monthly fee if you do not meet the minimum deposit and transaction requirements. Meanwhile, the UOB One Account charges a S$2 monthly fee if you do not meet the minimum deposit and transaction requirements.

Access to Funds and Liquidity

Finally, it’s important to consider the access to funds and liquidity of the account. Some accounts may require a minimum deposit or a minimum balance to maintain, while others may offer instant access to your funds.

For example, the POSB SAYE Account requires a minimum deposit of S$2,000 and a commitment period of 2 or 3 years. Meanwhile, the StashAway Simple account offers instant access to your funds, with no minimum deposit or balance required.

Overall, when comparing cash management accounts, it’s important to consider the interest rates and returns, fees and charges, and access to funds and liquidity. By doing so, you can choose the account that best suits your needs and helps you achieve your financial goals.

Tip: Look Beyond Headline Rates 

Some accounts offer tiered rates, meaning you only earn the top rate on a limited balance—factor in all fees to determine actual returns.

Don’t be fooled by a flashy headline rate – calculate the Effective Interest Rate (EIR), which considers compounding and fees for a more accurate picture.

Investment and Savings Alternatives

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When it comes to managing your money, plenty of investment and savings alternatives are available in Singapore. Here are some of the most popular options:

Bonds and Bond Funds

Bonds are debt instruments that pay interest to investors over a fixed period. They are generally considered a low-risk investment option, making them a popular choice for diversifying their portfolio. On the other hand, bond funds invest in a portfolio of bonds rather than individual bonds. This can help to spread risk and potentially increase returns.

Savings and Fixed Deposit Accounts

Savings and fixed deposit accounts are popular for those looking to earn interest on their cash. Savings accounts typically offer lower interest rates than fixed deposit accounts, but they allow you to withdraw your money anytime. Fixed deposit accounts, on the other hand, offer higher interest rates but require you to lock your money away for a fixed period.

Robo-Advisors and Investment Platforms

Robo-advisors and investment platforms are a relatively new option for investors. These platforms use algorithms to create and manage investment portfolios for their clients. They are often cheaper than traditional investment managers and can be a good option for those just starting in the investing world.

Overall, there are plenty of investment and savings alternatives available in Singapore. Whether you invest in bonds, savings accounts, or robo-advisors, it’s essential to research and choose an option that suits your needs and financial goals.

Risk Management

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When it comes to personal finance, managing risk is an essential part of any investment strategy. You can make informed decisions about managing your portfolio by understanding the different types of investment risks, diversification strategies, and safe-haven assets.

Understanding Investment Risks

Investing always carries some risk, and it’s essential to understand the different types of risks you may encounter. Market risk is the most common type of risk, and it refers to the possibility of losing money due to fluctuations in the market. Other types of risks include credit, inflation, and liquidity risks.

Diversification Strategies

One of the most effective ways to manage investment risk is through diversification. By spreading your investments across different asset classes, sectors, and geographies, you can reduce exposure to any particular risk. For example, you could diversify your portfolio by investing in a mix of stocks, bonds, and real estate.

Safe-Haven Assets

Another way to manage risk is to invest in safe-haven assets. These are assets that tend to hold their value during times of market volatility. Examples of safe-haven assets include gold, government bonds, and cash. While these assets may not offer the same potential returns as riskier investments, they can provide stability and protection during uncertain times.

In conclusion, managing risk is an essential part of any investment strategy. You can make informed decisions about managing your portfolio by understanding the different types of investment risks, diversification strategies, and safe-haven assets. Remember always to research and seek professional advice before making investment decisions.

Additional Features and Benefits

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When choosing a cash management account, you want to consider the additional features and benefits that come with it. Here are some of the features you can expect from Singapore’s best cash management accounts.

Supplementary Retirement Scheme (SRS) Accounts

Some cash management accounts allow you to invest your Supplementary Retirement Scheme (SRS) account funds. This is a great way to grow your retirement savings while earning a higher interest rate. One popular cash management account that offers this feature is Endowus Cash Smart Secure. With projected returns ranging from 3.5% to 3.8% p.a (after fees), this account is an excellent option for investing their SRS funds.

Insurance and Protection Offers

Many cash management accounts in Singapore offer insurance and protection offers to their customers. For example, the DBS Multiplier Account offers S$1 million in coverage for death and total permanent disability. UOB One Account also provides insurance coverage for accidental death and medical expenses. These insurance and protection offers can give you and your family peace of mind.

Online Payment Services

Cash management accounts in Singapore also offer online payment services that allow you to pay bills, transfer money, and make online purchases. For example, the Standard Chartered JumpStart Account comes with a debit card that you can use for online purchases. Other accounts, such as the Citibank MaxiGain Savings Account, offer online bill payment services that allow you to pay your bills directly from your account.

Overall, the best cash management accounts in Singapore offer a range of additional features and benefits that can help you manage your finances more effectively. From SRS accounts to insurance and protection offers, these accounts are designed to meet the needs of modern consumers.

Choosing the Right Account

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When choosing the best cash management account in Singapore, several factors must be considered. This section will review some key considerations to help you make an informed decision.

Assessing Your Financial Goals

The first step in choosing the proper cash management account is to assess your financial goals. Are you looking for the best short-term savings or emergency cash funds account?

Do you want an account with flexible features that allow you to manage your money easily? You can narrow your options once you have a clear idea of your financial goals.

Account Flexibility and Terms

Another important consideration is the flexibility and terms of the account. Some accounts may offer higher interest rates but have restrictions on withdrawals or minimum balances. Others may have more flexible terms but offer lower interest rates. Consider your needs and preferences when it comes to account flexibility and terms.

Customer Service and Support

Lastly, it’s essential to consider the level of customer service and support the account provider offers. Look for an account that offers responsive customer service and support to get help when needed. You may also want to consider the provider’s reputation and any additional features or benefits offered.

Choosing the correct cash management account in Singapore requires careful consideration of your financial goals, account flexibility and terms, and customer service and support. By assessing your needs and preferences, you can find the best account to help you manage your money effectively.

Maximising Your Cash Management

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Managing your cash effectively is crucial to achieving your financial goals. A cash management account can help you earn higher interest rates while keeping your funds easily accessible. Here are some tips to help you maximise your cash management account:

Optimising for High Returns

When choosing a cash management account, looking for one with high-interest rates is essential. Some accounts offer higher interest rates than others but may come with specific conditions such as a minimum deposit or balance. Research different accounts and compare their interest rates to find the best one.

Utilising Promotions and Bonuses

Many cash management accounts offer promotions and bonuses to attract new customers. These promotions may include cash rewards, bonus interest rates, or fee waivers. Take advantage of these offers to maximise your returns. However, make sure to read the terms and conditions carefully to avoid any hidden fees or charges.

Regular Monitoring and Rebalancing

It’s essential to regularly monitor your cash management account to ensure that you’re getting the best returns. Check your account balance and interest rates regularly, and make adjustments if necessary. Rebalancing your portfolio can also help you maximise your returns. Consider moving your funds to accounts with higher interest rates or better promotions.

Following these tips can maximise your cash management account and earn more money. Remember to research different accounts, take advantage of promotions and bonuses, and regularly monitor and rebalance your portfolio.

Frequently Asked Questions

What are the top-rated cash management accounts available in Singapore for optimising savings?

If you’re looking to optimise your savings, you’ll want to consider the top-rated cash management accounts in Singapore. Some popular options include the Endowus Cash Smart, the DBS Multiplier account, and the UOB One account. These accounts offer competitive interest rates and other features to help you maximise your savings.

How do cash management accounts compare to traditional savings accounts regarding returns?

Cash management accounts are similar to traditional savings accounts but typically offer higher interest rates and other benefits. For example, some cash management accounts in Singapore offer higher interest rates on more significant account balances, while others provide cashback rewards or other perks. Cash management accounts can be a great way to earn more on your savings than a traditional savings account.

Can you trust the safety of your funds in a Singapore cash management account?

Yes, you can trust the safety of your funds in a Singapore cash management account. Most cash management accounts in Singapore are insured by the Singapore Deposit Insurance Corporation (SDIC), meaning your funds are protected up to a certain amount if the bank fails. Additionally, well-established banks and financial institutions with a strong reputation for safety and security offer many of these accounts.

What are the latest user reviews saying about the performance of the Endowus Cash Smart account?

The Endowus Cash Smart account has received positive reviews from many users in Singapore. Customers praise the account’s high-interest rates, low fees, and easy-to-use interface. Some users have also noted that the account offers a good balance of risk and reward, making it an excellent option for those who want to maximise their savings without taking on too much risk.

Which cash management accounts in Singapore offer the best liquidity and ease of access to funds?

If you’re looking for a cash management account with good liquidity and easy access to funds, you may want to consider the DBS Multiplier account, the UOB One account, or the OCBC 360 account. These accounts offer features like instant access to cash, no minimum balance requirements, and the ability to link multiple accounts for added convenience.

Are there any innovative features in Singapore’s cash management accounts that make them stand out?

Several innovative features in Singapore’s cash management accounts make them stand out from traditional savings accounts. For example, some accounts offer cashback rewards for spending on specific categories, while others allow you to invest your savings in low-risk funds or other financial products.

Additionally, many cash management accounts offer easy-to-use mobile apps and other digital tools that make managing your money on the go easy.


Quick Credit Bridges Your Financial Gap 

Is CMA balance falling short? Unexpected expenses got you feeling strapped? Don’t fret!

Quick Credit Pte Ltd is here to help Singapore residents like you with reliable personal loans. Whether you need a little extra for your needs or your CMA balance isn’t quite enough, Quick Credit can bridge the gap and get you back on track.

Why Choose Quick Credit?

  • Trusted & Licensed: We’re a fully licensed money lender, following strict regulations for your peace of mind.
  • Flexible Solutions: Need a personal loan or a CMA top-up? We offer options to fit your needs.
  • Transparent Terms: No hidden fees, just clear and upfront loan terms.
  • Singapore Nationwide: We serve borrowers all across Singapore, wherever you are.
  • Fast Approvals: Make a quick application decision, sometimes within 24 hours.

Qualify for a Loan!

Our application process is easy. Here’s what you’ll need:

  • Be 18 years old or older
  • Have a valid Singapore NRIC (National Registration Identity Card)
  • Earn a minimum monthly income

With Quick Credit, you can get the financial support you need quickly and easily. Apply for a personal loan today and get back to what matters most.

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