Syfe Cash+ is a diversified investment portfolio of money market and short duration bond funds that is generally considered very low risk. This is because the funds have underlying holdings in safe, low-risk assets such as institutional deposits, government and high-quality corporate bonds.
Additionally, you can choose to withdraw your money at any time with no exit penalties.
While Cash+ is not insured by Singapore Deposit Insurance Corporation (SDIC), it offers broader diversification and relatively higher returns compared to bank deposits. The base interest rate for most bank savings accounts is 0.05% p.a. while the projected return for Cash+ is 1.75% p.a.
Furthermore, all client funds are held in a separate custodian account. This means that Syfe will never be able to use your funds for any reason, and that your funds remain safe even if Syfe stops operating because they are held separately from Syfe assets.