If you’re looking for a low-risk way to grow your savings in Singapore, you may have to read StashAway Simple Review Singapore if you have heard of StashAway Simple.
This cash management account is designed to help you earn a return on your cash without having to worry about market volatility. But is it right for you? In this StashAway Simple review Singapore, we’ll explore the key features, investment strategy, fees, and more to help you decide.
StashAway Simple is a product of StashAway, one of the first robo-advisors in Singapore. The platform is designed to help you earn a projected return of up to 3.5% p.a. on your cash, without the need for a minimum investment amount or lock-in period.
Instead of investing in ETFs like other StashAway portfolios, StashAway Simple puts your cash in low-risk funds like the LionGlobal SGD Money Market Fund. This makes it ideal for short-term savings goals or emergency funds. But what else should you know about StashAway Simple? Let’s dive in to find out.
Key Takeaways
- StashAway Simple is a cash management account that helps you earn a return on your cash without market volatility.
- The platform offers a projected return of up to 3.5% p.a. with no minimum investment amount or lock-in period.
- StashAway Simple is ideal for short-term savings goals or emergency funds, but may not be suitable for long-term investments.
StashAway Simple Review Singapore: What Is It?
If you’re looking for a low-risk investment option, StashAway Simple might be the perfect choice for you. This cash management account is designed to help you grow your savings with minimal risk and effort. In this section, we’ll take a closer look at what StashAway Simple is, how it works, and what benefits it offers.
Understanding StashAway Simple
StashAway Simple is a cash management account offered by StashAway, a popular investment platform in Singapore. This account is designed to help you earn a return on your cash with no minimum investment amounts and no lock-ins. Instead of leaving your money in a savings account that earns minimal interest, you can put it in StashAway Simple and earn a projected return of up to 3.7% p.a.
StashAway Simple invests your money in low-risk funds that are designed to provide stable returns over time. This means that you don’t have to worry about market volatility or the ups and downs of the stock market. Instead, you can sit back and watch your money grow at a steady pace.
StashAway Simple Review Singapore: The Benefits
There are several benefits to using StashAway Simple as your cash management account. Firstly, it offers a projected return of up to 3.7% p.a., which is much higher than the interest rates offered by most savings accounts. This means that you can grow your savings faster and reach your financial goals sooner.
Secondly, StashAway Simple is very easy to use. You can sign up for an account online in just a few minutes, and there are no minimum investment amounts or lock-in periods. This means that you can start investing your money right away, and you can withdraw it whenever you need it without any penalties.
Finally, StashAway Simple is a low-risk investment option. This means that you don’t have to worry about losing your money due to market volatility or other factors. Instead, you can enjoy stable returns over time and watch your savings grow steadily.
In summary, StashAway Simple is a great option for anyone who wants to grow their savings with minimal risk and effort. It offers a projected return of up to 3.7% p.a., is very easy to use, and is a low-risk investment option.
StashAway Simple Review Singapore: Key Features
If you’re looking for an ultra-low-risk cash management solution with no minimum balance requirements, StashAway Simple is the perfect option for you. Here are some key features of StashAway Simple that make it an exciting investment option:
Projected Returns
StashAway Simple offers a projected return of 2.2% p.a., which is a great rate for those who want to earn a return on their cash without taking on too much risk. This makes StashAway Simple an excellent option for those with an investment time horizon of 6 to 12 months.
StashAway Simple Review Singapore: No Minimum Balance
Unlike other investment options, StashAway Simple has no minimum balance requirement, which means you can start investing with as little or as much as you want. This makes it an ideal option for those who are just starting out with investing or who don’t have a lot of money to invest.
Instant Withdrawals and Transfers
One of the best features of StashAway Simple is that you can make instant withdrawals and transfers whenever you need to. This means you can access your cash whenever you need it, without having to worry about waiting for your money to become available.
Overall, StashAway Simple is an excellent investment option for those who want to earn a return on their cash without taking on too much risk. With its low minimum balance requirement, projected returns, and instant withdrawals and transfers, it’s easy to see why so many people are choosing StashAway Simple as their go-to cash management solution.
How StashAway Simple Compares With Other Platforms
If you’re considering using StashAway Simple, you may be wondering how it compares to other cash management platforms. Here’s a quick comparison of StashAway Simple with DBS, Syfe, and Endowus.
StashAway Simple vs DBS
DBS offers a range of savings accounts, including fixed deposit accounts, multi-currency accounts, and eMySavings accounts. While these accounts offer higher interest rates than DBS’s basic savings account, they require a minimum deposit and a lock-in period.
In contrast, StashAway Simple has no minimum deposit or lock-in period, making it a more flexible option. Additionally, StashAway Simple’s projected return of 2.2% p.a. is higher than DBS’s eMySavings account’s interest rate of 0.05% p.a.
StashAway Simple vs Syfe
Syfe offers a cash management portfolio called Cash+. Like StashAway Simple, Cash+ has no minimum investment amount or lock-in period. However, Cash+’s projected return of 1.5% p.a. is lower than StashAway Simple’s projected return of 2.2% p.a.
StashAway Simple also offers more flexibility than Cash+. While Cash+ only invests in Singapore Savings Bonds, StashAway Simple invests in a mix of low-risk funds, including the LionGlobal SGD Money Market Fund.
StashAway Simple vs Endowus
Endowus offers a cash management portfolio called Cash Smart. Like StashAway Simple, Cash Smart has no minimum investment amount or lock-in period. However, Cash Smart’s projected return of 1.9% p.a. is lower than StashAway Simple’s projected return of 2.2% p.a.
StashAway Simple also offers more flexibility than Cash Smart. While Cash Smart invests in a mix of Singapore government bonds and money market funds, StashAway Simple invests in a mix of low-risk funds, including the LionGlobal SGD Money Market Fund.
Overall, StashAway Simple offers a competitive projected return and more flexibility than its cash management competitors. As a robo-advisor, StashAway Simple is also more convenient than traditional bank savings accounts.
StashAway Simple Review Singapore: Investment Strategy and Asset Allocation
Are you curious about how StashAway Simple invests your money? Let’s take a closer look at their investment strategy and asset allocation.
StashAway Simple Review Singapore: Economic Regime-Based Asset Allocation
StashAway Simple uses an algorithm to allocate your money across different asset classes based on the current economic regime. The algorithm takes into account factors such as interest rates, inflation, and GDP growth to determine the appropriate asset allocation for the current economic environment.
For example, in a low-interest-rate environment, StashAway Simple may allocate more of your money to stocks and other higher-risk investments that have the potential for higher returns. In a high-interest-rate environment, StashAway Simple may allocate more of your money to bonds and other lower-risk investments that provide more stability.
StashAway Simple Review Singapore: Diversification Across Asset Classes
StashAway Simple also believes in the importance of diversification across asset classes. By investing in a diverse range of assets, they aim to reduce the overall risk of your portfolio while still providing the potential for growth.
StashAway Simple invests your money in a range of asset classes including stocks, bonds, gold, and real estate investment trusts (REITs). They also invest in a range of geographic regions to further diversify your portfolio.
Overall, StashAway Simple’s investment strategy is designed to provide you with a well-diversified portfolio that is tailored to the current economic environment. By using an algorithm to allocate your money across different asset classes, they aim to provide you with the potential for growth while also managing risk.
StashAway Simple Review Singapore: Fees and Expenses
Management Fee Structure
StashAway Simple is a cash management account that offers a low-risk investment option for your cash. One of the reasons StashAway Simple is attractive is its low management fee of 0% instead of the usual 0.8% charged by other cash management accounts. This means you get to enjoy more returns on your investment.
StashAway Simple invests your cash in low-risk funds, such as the LionGlobal SGD Money Market Fund. These funds are managed by professionals who aim to generate returns while minimizing risk.
Comparing Fees With Other Cash Management Accounts
When it comes to comparing fees with other cash management accounts, StashAway Simple stands out. StashAway Simple has no account setup or exit fees. Unlimited, free withdrawals and transfers between portfolios are also available. Rebalancing, transaction, and re-optimisation costs are included in the management fee, so you don’t have to worry about any hidden fees.
Compared to other cash management accounts, StashAway Simple’s management fee is lower. For example, AutoWealth charges a flat 0.5% p.a. plus a US$18 platform fee, while StashAway Simple has no platform fee and no management fee for amounts below S$10,000. For amounts above S$10,000, the management fee is only 0.2% p.a. This makes StashAway Simple an attractive option for those who want to invest their cash without incurring high fees.
In conclusion, StashAway Simple offers a low-risk investment option for your cash with a low management fee and no hidden fees. Compared to other cash management accounts, StashAway Simple’s fee structure is transparent and straightforward, making it an excellent choice for those who want to invest their cash without incurring high fees.
StashAway Simple Review Singapore: Understanding the Risks
Investing comes with risks, and it’s important to understand them before you start investing your money. In this section, we’ll discuss the different types of risks you may encounter when investing with StashAway Simple.
StashAway Simple Review Singapore: Risk Tolerance Assessment
StashAway Simple uses a risk tolerance assessment to determine which investment portfolio is suitable for you. This assessment takes into account your investment goals, time horizon, and risk tolerance. It’s important to be honest when answering the questions in the assessment, as it will help StashAway Simple recommend a portfolio that aligns with your investment objectives.
Market Volatility and Investment Risks
Market volatility can be a source of investment risk. Prices of securities can fluctuate, and this can impact the value of your investments. However, it’s important to remember that volatility is a normal part of investing. Over the long term, markets tend to rise, and this can help offset any short-term losses.
Investing in securities also comes with risks such as credit risk, liquidity risk, and interest rate risk. Credit risk refers to the possibility that a borrower may default on their debt obligations. Liquidity risk refers to the possibility that you may not be able to sell your securities when you want to. Interest rate risk refers to the possibility that changes in interest rates may impact the value of your investments.
StashAway Simple’s investment portfolios are designed to help manage these risks. By diversifying your investments across different asset classes, StashAway Simple aims to reduce your exposure to any one type of risk. However, it’s important to remember that investing always comes with risks, and there is no guarantee that you will make a profit.
StashAway Simple Review Singapore: Additional Benefits and Features
StashAway Simple offers more than just a high-interest cash management account. Here are some additional benefits and features that make StashAway Simple stand out:
StashAway Academy and Educational Resources
StashAway Academy is a free online resource that provides educational content to help you learn more about investing and personal finance. The academy offers a range of articles, videos, and webinars that cover a variety of topics, from the basics of investing to more advanced strategies.
Whether you are a beginner or an experienced investor, StashAway Academy has something for you. You can learn about asset allocation, portfolio diversification, risk management, and more. The educational resources are designed to help you make informed decisions about your investments and achieve your financial goals.
Insurance Coverage
StashAway Simple offers insurance coverage for your cash deposits. The insurance is provided by the Singapore Deposit Insurance Corporation (SDIC) and covers up to SGD 75,000 per depositor. This means that if StashAway were to become insolvent, your deposits would be protected up to the limit of the insurance coverage.
Having insurance coverage for your cash deposits is an important feature that can give you peace of mind. It means that your money is safe and protected, even in the unlikely event that StashAway were to experience financial difficulties.
Overall, StashAway Simple is a great option for anyone looking to earn a higher interest rate on their cash deposits. With its educational resources and insurance coverage, StashAway Simple is a comprehensive cash management account that can help you achieve your financial goals.
StashAway Simple Review Singapore: Getting Started
If you’re looking for a low-risk way to grow your savings, StashAway Simple might be the perfect option for you. Here’s how to get started:
Creating an Account
The first step is to create an account with StashAway. You can do this by visiting their website or downloading their app from the App Store or Google Play.
Once you’ve downloaded the app or visited the website, click on the “Sign Up” button and follow the instructions. You’ll be asked to provide some basic information, such as your name, email address, and phone number.
Setting Up Your Investment Goals
After you’ve created your account, the next step is to set up your investment goals. StashAway Simple is a goal-based investing platform, which means that you’ll need to set a financial plan and investment goals before you start investing.
To set up your investment goals, click on the “Goals” tab in the app or on the website. You’ll be asked to answer a few questions about your financial situation and risk tolerance. Based on your answers, StashAway will recommend a financial plan and investment goals that are tailored to your needs.
Minimum Investment
StashAway Simple has no minimum investment amount, which means that you can start investing with as little or as much as you want. This makes it a great option for people who are just getting started with investing and don’t have a lot of money to invest.
Goal-Based Investing
One of the great things about StashAway Simple is that it’s a goal-based investing platform. This means that you can set specific investment goals and track your progress towards those goals over time.
For example, if you want to save up for a down payment on a house, you can set that as your investment goal and StashAway will recommend a financial plan and investment strategy that’s tailored to that goal.
Overall, StashAway Simple is a great option for people who are looking for a low-risk way to grow their savings. With no minimum investment amount and goal-based investing, it’s easy to get started and track your progress towards your financial goals.
User Experience and Platform Usability
StashAway Simple has an intuitive and user-friendly interface that makes it easy for you to navigate the platform. The platform is designed to be simple and straightforward, with all the essential features accessible from the main dashboard. You can easily access your portfolio, view your investment performance, and make changes to your investment goals and risk preferences.
Navigating the StashAway Interface
StashAway’s platform is easy to use, and you can quickly find what you need without any hassle. The main dashboard provides you with an overview of your portfolio, including your investment returns and asset allocation. You can also access your investment goals, risk preferences, and investment history from the dashboard.
The platform also offers a range of tools and resources to help you make informed investment decisions. You can access educational resources, investment news and insights, and market analysis to stay up-to-date with the latest investment trends.
Customer Support and Service
StashAway’s customer support is top-notch, with a team of experienced professionals available to assist you with any queries or issues you may have. You can contact the support team via email or phone, and they are always available to help you out.
The platform also offers a range of self-help resources, including an extensive FAQ section and a community forum where you can connect with other investors and share your experiences. The community forum is an excellent resource for getting advice, tips, and insights from other investors who are using the platform.
In summary, StashAway Simple is a user-friendly and intuitive platform that offers an excellent user experience. The platform is designed to be easy to use, with all the essential features accessible from the main dashboard. The customer support is top-notch, and there are plenty of resources available to help you make informed investment decisions.
Conclusion
Congratulations! You have completed your StashAway Simple review and are now ready to take control of your financial life. Investing can seem daunting, but with StashAway Simple, it doesn’t have to be.
With its ultra-low-risk portfolio, StashAway Simple is perfect for those who want to dip their toes into the world of investing without taking on too much risk. And with projected returns of up to 2.2% p.a., you can still see a decent return on your investment.
We recommend StashAway Simple to anyone who wants to take the first step towards improving their financial lives. Whether you’re a beginner investor or someone who has been investing for a while, StashAway Simple is a great option to consider.
So what are you waiting for? Sign up for StashAway Simple today and start your journey towards financial freedom!
Frequently Asked Questions
How secure is investing with StashAway in Singapore?
Investing with StashAway is secure as they are regulated by the Monetary Authority of Singapore (MAS). StashAway uses bank-level security to protect your personal information and your money. They also use 2-factor authentication to ensure that only you can access your account.
What sort of returns can I expect with StashAway Simple?
StashAway Simple is designed to provide a stable return of up to 3.7% p.a. This return is projected and not guaranteed. The actual return may vary depending on market conditions.
Could you highlight any potential drawbacks of using StashAway?
One potential drawback of using StashAway is that their fees may be higher than some other robo-advisors. Also, StashAway Simple is not insured, so there is a risk of losing money if the market performs poorly.
What distinguishes StashAway Simple from StashAway Simple Guaranteed?
StashAway Simple Guaranteed is a different product from StashAway Simple. It is an insurance policy that guarantees a fixed return of 1.9% p.a. for a period of 3 years.
StashAway Simple, on the other hand, is an investment product that aims to provide a stable return of up to 3.7% p.a.
What fees should I anticipate when using StashAway Simple?
StashAway Simple charges a management fee of 0.15% p.a. There are no other fees involved, such as entry or exit fees.
What are the latest user opinions on StashAway Simple in 2023?
User opinions on StashAway Simple are generally positive. Users appreciate the simplicity and ease of use of the product. Some users have mentioned that they would like to see more investment options and features added in the future.
Overall, StashAway Simple is a good option for those looking for a stable return on their investment with minimal risk.
