Returns are guaranteed as we invest your funds in fixed deposits with a partner bank for your chosen term. This means that your investment is not subject to market fluctuations in price, although the risk of default of the bank where the fixed deposit is held remains, and there is no separate guarantor whether by Syfe or any third party in respect of such default.

When the term ends, you will receive returns from the underlying fixed deposits at the guaranteed rate that you had secured at the beginning of the term. Once your investment begins, the guaranteed return and rate will not change during the entire duration of the investment.

For Cash+ Guaranteed USD, both the capital and returns are guaranteed in USD — this means your invested amount and the expected returns in USD are guaranteed.

If you fund your investment in SGD (or any other non-USD currency), your funds will first be converted into USD for investment. At maturity, both your capital and returns will be in USD.

If you choose to withdraw your funds in SGD (or another currency), the actual amount you receive in your bank account will depend on the prevailing exchange rate at the time of conversion. As such, the non-USD amount received may vary.

Example:

You invest SGD 13,500 when the USD/SGD rate is 1.35, which converts to USD 10,000.

At maturity, after a 1 month term period at a guaranteed return of 4.35% p.a, you receive USD 10,036.25 (including returns).

Scenario 1: SGD strengthens

If the USD/SGD rate at maturity is 1.30, your USD 10,036.25 becomes SGD 13,047.

This is lower than your original SGD investment due to FX movement — not a loss in USD.

Scenario 2: SGD weakens

If the USD/SGD rate at maturity is 1.38, your USD 10,036.25 becomes SGD 13,650.

You receive more in SGD due to favorable FX movement.

Note: The capital and returns are guaranteed only in USD for Cash+ Guaranteed USD.