Guide to the Best Cash Management Accounts in Singapore

Maximise your cash funds with high-yield but low-risk cash management accounts in Singapore that do not impose lock-in periods.

Priscilla Lee

by Priscilla Lee on Mar 28, 2024

coins and piggy bank

Looking to grow your emergency cash funds, short-term savings or Supplementary Retirement Scheme (SRS) funds but prefer an alternative that has minimal risks and is highly accessible? Cash management accounts in Singapore may be the ideal solution for you since they are high in liquidity, low risk and do not impose lock-in periods.

If you are new to cash management accounts in Singapore, read on to find out how such trading accounts work and which are the best accounts that you should consider.

Related: 3 Best Trading Platforms With Low Cost Fees

coins and piggy bank savings
Source: Pexels

What Is A Cash Management Account?

Cash management accounts work like regular saving accounts from banks. You can deposit your funds and wait for them to earn money through low-risk investments in money market funds and/or short-term bonds.

Cash management accounts in Singapore are high in liquidity and without lock-in periods, however they can only be opened with financial institutions such as brokerages, investment platforms or robo-advisors instead of banking institutions. Cash management accounts offer higher returns than everyday savings accounts but because they are regarded as investment products, your capital is not guaranteed by Singapore Deposit Insurance Corporation (SDIC). This means, there is a chance that you will lose your deposits.

That said, cash management accounts’ risk exposure is still relatively low compared to other investment products. They are still viable options if you want to earn more than the base interest 0.05% that regular savings accounts are awarding you. Yes, it is true that some banks do offer higher interest rates but mostly you are required to jump over hoops to get the highest rates.

If you are a seasoned investor looking to diversify your portfolio, including cash management accounts may help to even out your investment risk exposure. The returns may be smaller than higher-risk investment products like equities and futures, but they present opportunities for steady growth over time.

monitoring investment chart from laptop
Source: Pexels

How Are Cash Management Accounts Different From ETFS And Bonds ?

Cash management accounts, Exchange-traded Funds (ETFs) and bonds are all low-risk investment products but they have different characteristics that may or may not appeal to investors. For starters, buying ETFs is like buying a basket of underlying assets, whether that is stocks, commodities or currencies, your risks are spread across different assets hence lowering the risk.

Related: Best Online Brokerages for ETF & Unit Trust Trading

Cash management accounts, on the other hand, invest mainly in short-term bonds or money market funds. Because money market funds are generally known to be safer than stocks, this also implies that cash management accounts may be a safer investment product than ETFs.

When it comes to bonds, there is usually a minimum investment sum, a maximum investment limit and a fixed lock-in period that are not imposed on both cash management accounts and ETFs. Bonds in general are considered less risky than stocks since there is a contractual agreement from bond issuers to return the face value of the security to the investor at maturity; stocks do not have such promise from the issuers.

Here’s a quick comparison of the three investment products:

Cash Management AccountsETFsBonds
Underlying investmentShort-term bonds, money market fundsA basket of underlying stocks, commodities or currenciesDebt instruments issued by a company or government body
Capital guaranteedNoNoYes (unless bond issuer defaults payment)
Fixed returnNoNoYes
Fees requiredYesYesYes
Minimum initial depositNoNoYes
Lock-in periodNoNoYes
Risk levelLowLowLow. Investor can refer to the bond ratings before investing

Best Cash Management Accounts in Singapore

Ready to give cash management accounts in Singapore a try? Here are some of the best choices in the market.

Endowus Cash Smart

There are three Cash Management Accounts under Endowus’ Cash Smart series that cater to different risk appetites and cash management needs.

Types of Cash Management Accounts 
Endowus Cash Smart Secure
  • Underlying funds include 50% Fullerton SGD Cash Fund and 50% LionGlobal SGD Enhanced Liquidity
  • Projected return is 3.8% to 4.1% per annum
  • Suitable for immediate and near-term cash needs
  • Fees include 0.15% fund-level fees and 0.05% Endowus Fee
Endowus Cash Smart Enhanced
  • Underlying funds include 50% UOB United SGD Fund, 30% LionGlobal SGD Enhanced Liquidity and 20% Fullerton SGD Cash Fund
  • Projected return is 4.4% to 4.7% per annum
  • Suitable for both near-term and mid-term cash needs
  • Fees include 0.25% fund-level fees and 0.05% Endowus Fee
Endowus Cash Smart Ultra
  • Underlying funds include 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
  • Projected return is 4.73% to 5.03% per annum
  • Suitable for mid-term cash needs
  • Fees include 0.28% fund-level fees and 0.05% Endowus Fee

MoneyOwl WiseSaver

You can start investing with as little as S$10 with this Cash Management Account. It has a projected gross yield of 4.12% per annum and does not charge any sales, advisory or platform fees. You only need to pay fund-level fees of 0.15%.

MoneyOwl WiseSaver
  • Underlying funds is Fullerton SGD Cash Fund
  • Projected return is 4.12% per annum
  • Suitable for those who prefer ultra-low-risk investment
  • No charges except 0.15% fund-level fees


StashAway Simple

StashAway has two Cash Management Accounts offering different returns ranging from 3.7% to 5%. The Simple Plus offers a higher return than Simple but also means differences in risk, underlying funds, fees and holding period.

Cash Management Accounts Description
StashAway Simple


  • Underlying funds include 30% LionGlobal SGD Money Market Fund and 70% LionGlobal SGD Enhanced Liquidity Fund
  • Projected return is 3.7% per annum
  • Suitable for those who prefer ultra-low-risk investment
  • No charges except 0.15% fund-level fees
StashAway Simple Plus


  • Underlying funds include 20% LionGlobal SGD Enhanced Liquidity Fund, 20% Nikko AM Shenton Short Term Bond Fund and 60% LionGlobal Short Duration Bond Fund
  • Projected return is 4.6% to 5% per annum
  • Suitable for those who prefer low-risk investment
  • No charges except 0.2% fund-level fees

Related: Syfe Robo Advisor Review: What Makes it Unique?

Looking for the best Cash Management Accounts in Singapore to suit your preferences but not sure how to go about it? The first step is to find the right Robo advisor that offers attractive perks that resonate with your needs. Be sure to check out our roundup of the best robo advisors where we have compared all the Robo advisors in Singapore to help you find the best option based on each platform’s fees and asset variety.

Check out our Best Robo-Advisors page where we compare all the robo-advisors in Singapore to help you find the best option based on each platform’s fees and asset variety.

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