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Best cash management accounts in Singapore for 2024

cash management account singapore
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Offered by online investment brokerages, cash management accounts offer higher returns than traditional bank savings accounts for parking short-term funds. Cash management accounts offer 3.60% p.a. to 4.90% p.a., compared with 0.05% offered by savings accounts from banks in Singapore.

Short-term investors have more options to earn high yields besides bank deposits. However, unlike a bank savings account, a CMS does not have a principal guarantee from the authority or the bank.

What are Cash Management Accounts in Singapore?

A cash management account is a brokerage portfolio investing in bank deposits, money market funds, and quality short-term bond funds. The financial institutions offer various CMAs based on investment allocations and risk acceptance levels.

Below are the main differences between a cash management account and a bank savings account:

Cash management accountBank savings account
Offering institutionsRobo-Advisors, online brokragesBanks
Interest rateHigherLower
FeesYes(various depending on terms and brokerages)No
FeaturesChecking, bill paying servicesDebit card, ATM services
Endowus Cash Smart logo

Endowus Cash Smart

Endowus Cash Smart is a cash management account offering higher yields from its portfolios for investors than traditional bank savings accounts.


  • Products for investors of various levels

Endowus offers 3 products of various risk levels: Secure, Enhanced, and Ultra, ranging from the lowest to relatively highest risks. The Secure portfolio provides maximum fund safety but with the lowest returns. The Enhanced portfolio stands in the middle concerning risks and returns. In contrast, the Ultra portfolio gives both the highest risks and returns. 

  • Higher yields

The returns for 3 products range from 3.6% – 3.9% p.a. for Secure, 4.5% – 4.8% p.a. for Enhanced, and 4.6% – 4.9% p.a. for Ultra. They are all higher than typical deposits in returns and risks. The returns are net of charges.

  • No fund lock-up and unlimited transfers

Investors can withdraw anytime or transfer their funds to one of the portfolios without charges.

  • Low fees

3 portfolios charge(fund level fees after cashback + management fees) as low as 0.2% for Secure, 0.32% for Enhanced, and 0.35% for Ultra.

  • Fund safety

Your invested money is in a trust account under your name with the UOB Kay Hian, the largest broker in Singapore.

  • Best investment managers in Singapore

Well-known underlying funds, such as Fullerton SGD Cash Fund, LionGlobal SGD Enhanced Liquidity Fund, Nikko Shenton Income Fund, and PIMCO Low-duration Income Fund, are responsible for managing your money. Therefore, you can rest assured of their performance.

  • Multiple funding sources

Besides cash, you can invest with your CPF and SRS money to increase your investment returns.


  • Minimum investment amount

A minimum amount of S$1,000 is necessary to begin your investments. The entry bar is higher other some other brokers in the market.

  • Age limitation

Like other financial institutions, you must be at the age to start an account.

  • Lower fees for large investment amounts only

You may enjoy lower fees only if you put more money into portfolios.

FSMOne Auto Sweep logo

FSMOne AutoSweep’s FSMOne AutSweep is a cash management account investing idle cash, such as sales proceeds, bond maturities, dividends, and coupons, into high-yielding investments like money market funds and short-duration funds besides cash.

FSMOne AutoSweep provides 3 currency accounts: SGD Auto-sweep account (3.242% p.a.), USD Auto-sweep account (4.649%), and CNH Aito-sweep account (2.029% p.a.).


  • Discretionary accounts

The account managers of FSMOne AutoSweep accounts invest to maximize clients’ benefits by allocating funds to low-risk quality funds, for instance, LionGlobal SGD Enhanced Liquidity I Acc SGD, United SGD Money Market B SGD, Fullerton SGD Cash Fund A SGD, and cash account.

  • No required conversion to other investments

You do not need to sell funds in your account to buy other investments like stocks, bonds, or ETFs. The balance in your FSMOne AutoSweep account is in place for direct investing in other assets, saving trading time and transaction fees.

  • No lock-in period, no minimum balance

You can withdraw funds anytime and do not have to maintain a minimum balance to keep it active. 

  • Simple fee structure

A 0.2% p.a. management fee, collected quarterly, is chargeable to account holders.

  • Competitive yield

FSMOne AutoSweep investors can earn a yield of 3.242% p.a. As of Oct 24, 2023, net of fees.

  • Convenience

Once you opt-in to the AutoSweep account, the account will be set in to invest cash into investments and earn additional interest for your cash. You don’t have to instruct the company to re-invest the idle cash.


  • No CPF or SRS investments

Only the cash account is eligible to opt-in for the benefit.

  • Market volatility

FSMOneSweep is not a capital-guaranteed or insured account, so it is still subject to market fluctuations and capital losses.

  • Limited currency options offers SGD, USD, and CNH accounts for investments, excluding other currency accounts.

Moomoo logo

Moomoo Cash Plus

Like other cash management accounts, Moomoo Cash Plus, provided by Moomoo, a Singapore-based online brokerage, offers a secure and convenient place to park their funds and earn higher yields than bank savings accounts to investors.

Moomoo Cash Plus (MCP) invests in safe monetary instruments like fixed-income deposits and short-term government bonds. The notable investments include the Fullerton Cash Fund and CSOP USD Money Market Fund.


  • Competitive market yields

MCP offers a current yield of 4.9% p.a. for clients, higher than most savings accounts. The increase in yields is due to the recent performance of the CSOP Money Market Fund.

  • No minimum balance requirements and monthly fees

Moomoo Cash Plus has no subscription, redemption, or platform fees. A minimum investment deposit is as low as SGD0.01 or USD0.01.

  • Instant redemption

The balance in an MCP account is available for immediate conversion to other investments on the Moomoo platform.


  • Not a capital-guaranteed product

Investing in the cash management account has no capital guarantee, so the funds are still subject to market changes and price variations.

  • No interest rate guarantee

Unlike a fixed deposit, interest rates are prone to changes in the market. The MCP performance may get worse due to a lower market.

  • Limited currency choices

The MCP has only 2 currency options, thus excluding other currency investments

Phillip Smart Park logo

Phillip Smart Park

Like other cash management solutions, the Phillip Smart Park(PSP) invests excess cash in the Phillip money market fund SGD, Phillip US Dollar money market fund, and other short-term bond funds, yielding competitive returns to clients ready for other investments or uses. The PSP offers appealing yields of 3.2791% p.a. for the SGD money market fund and 4.9420% for the US dollar money market fund as of Oct 2, 2023, a return more than a typical bank account offers.


  • No sales charges and administrative fees

Phillip Smart Park has no minimum investment requirements or other fees, making it suitable for advanced and beginning investors.

  • High liquidity

Funds are available for withdrawal anytime and convertible into other investments from Phillip without delay and withdrawal fees.

  • Automatic Investing

Phillip Smart Park is an automatic investment account collecting and investing clients’ funds from stocks and ETFs. Clients need not transfer funds manually into their PSPs each time.


  • Investment product

PSP is not a capital-guaranteed product, subject to market fluctuations or price changes.

  • Interest rate changes

Interest rates from PSP may change in response to market conditions and, therefore, are not fixed.

  • Low return

Phillip Smart Park invests in low-risk securities like government bills and certificates of deposit. Thus, the returns are low compared to stocks or mutual funds.

  • Limited investment choices

Investors have few investment options over cash management funds except for SGD and US dollar money market funds, which will likely draw little attention from advanced investors.

StashAway logo

StashAway Simple/Simple Plus

StashAway Simple/Simple Plus are cash management accounts offered by StashAway, a Robo-Advisor based in Singapore, to earn higher yields on idle cash in the accounts. Both Simple and Simple Plus offer higher interest than traditional savings accounts by banks.

StashAway Simple and Simple Plus differ in the projected returns and investment risks. You can see more on the following:


  • Competitive interest rates

StashAway offers Simple’s interest return of 3.6% p.a (net of management fees) and Simple Plus for the interest of 4.7%. (net of management fees)

  • Notable investment funds

Simple invests in LionGlobal SGD Money Market Fund (30%) and LionGlobal SGD Enhanced Liquidity Fund (70%.)

Simple Plus focuses on LionGlobal SGD Enhanced Liquidity Fund (20%), Nikko AM Shenton Short Term Bond Fund (35%), and LionGlobal Short Duration Bond Fund (45%.)

  • No lock-in period

Investors can withdraw funds in both products anytime without penalty though StashAway suggests a recommended holding period of 12 months for Simple Plus due to short-timespan fluctuations.

  • Few investment requirements

StashAway declares no minimum balance, no cap on interest earned, and no withdrawal restrictions.

  • Besides cash, investors can use their SRS accounts to invest in Simple/ Simplus portfolios, exploring more investment growth opportunities.


  • No guarantee

StashAway Simple/Simple Plus are not capital-guaranteed products, meaning investors should risk possible capital loss due to market fluctuations, though the risks are low.

  • Interest rate changes

Unlike bank deposits, Simple/Simple Plus investors may gain less than projected due to interest rate changes. Besides, these products are not insured by the authority.

  • Limited currency option

StashAway only Singapore dollar as the currency for Simple and Simple Plus products. Investors opting for currencies other than the Singapore dollar for the products turn to other companies selling similar products but with multiple currencies.

Syfe logo

Syfe Cash+ Flexi

Syfe Cash+ Flexi(SCF) provides a cash management solution to investors to maximize idle cash benefits. The cash account is yielding an interest rate of 3.7% p.a. As of Oct 6, 2023. Syfe+ Flexi offers 2 underlying funds for its portfolio: 1. LionGlobal SGD Money Market Fund (30%) and LionGlobal SGD Enhanced Liquidity Fund SGD Class 1 (Accumulation). You may see the pros and cons of the cash management account:


  • No locked-ins or minimum balance

SCF does not impose a minimum initial deposit or locked-in periods, and investors can withdraw their money anytime the next day without penalty.

  • 100% trailer fee rebates

StashAway rebates all commissions from fund managers to clients, meaning investors have minimum investment costs.

  • Daily return accruals

Returns accumulate daily, leading to more gains.

  • No separation between CDP account and brokerage

It may increase the efficiency in handling administration.

  • Complimentary expert advice

StashAway also provides complementary professional advice in helping investment management.

  • DCOA strategy

StashAway provides the dollar-cost-of-averaging investment strategy to regular savors besides lump-sum investors.

  • Automatic investing

Once enrolled in the program, investors can participate in auto-investing of their funds from sources like ETFs and coupons from bonds from Syfe’s investment family.


  • Limited investment choices

Unlike other cash management accounts, Syfe only provides 2 funds for investments, making advanced investors less likely to use the service. Besides, only one currency option is available, making the investment option less attractive.

  • No capital guaranteed

Syfe Cash+ Flexi is an investment product, meaning investors’ capital is not guaranteed and may suffer investment loss.

  • Interest rate changes

The interest rate is not the most competitive compared with other cash management products and is still subject to market changes.

Best Cash Management Accounts in Singapore

Below is a comparison of the best cash management accounts in Singapore:

BrokeragesYieldsMin. inv. amt.FeesLiquidityUnderlying fundsRisks
Endowus Cash SmartUp to 4.90% p.a.00DailyFullerton SGD Cash Fund, LionGlobal SGD Enhanced Liquidity Fund, Nikko Shenton Income Fund, and PIMCO Low-duration Income FundLow
FSMOne Auto SweepUp to 4.649% p.a.00.2% p.a.DailyLionGlobal SGD Enhanced Liquidity I Acc SGD, United SGD Money Market B SGD, Fullerton SGD Cash Fund A SGDLow
Moomoo Cash PlusUp to 4.90% p.a.00DailyFullerton Cash Fund and CSOP USD Money Market Fund.Low
Phillip Smart ParkUp to 4.942% p.a.00DailySGD money market fund and the US dollar money market fundLow
StashAway SimpleUp to 3.60% p.a.00DailyLionGlobal SGD Money Market Fund(30%) and LionGlobal SGD Enhanced Liquidity Fund(70%.)Low
StashAway Simple PlusUp to 4.70% p.a.00DailyLionGlobal SGD Enhanced Liquidity Fund(20%), Nikko AM Shenton Short Term Bond Fund(35%), and LionGlobal Short Duration Bond Fund(45%.)Low
Syfe Cash+ FlexUp to 3.70% p.a.00DailyLionGlobal SGD Money Market Fund(30%) and LionGlobal SGD Enhanced Liquidity Fund SGD Class 1(Accumulation)Low

For Whom are Cash Management Accounts suitable in Singapore?

Endowus Cash Smart – Best for investors opting for more investment choices and safety

Endowus Cash Smart is designed to cater to investors sheltering their funds for interest and cash for urgent and short-term needs. The 3 types of portfolios comprise highly liquid funds investing in money market funds and short-duration bond funds.

Furthermore, the probability of loss is minimal compared with other investment funds. Endowus Cash Smart is suitable for investors opting for more investment choices regarding fund safety and higher yields rather than bank deposits.

How to sign up 

2 ways to open an account with Endoeus: Web and mobile app. The procedures are simple and easy, as you need only your ID information to create an account. You should take 8 to 10 minutes to go through the process and wait 3-5 business days to confirm a successful account from Endoeus.

FSMOne AutoSweep – Best for Customers of

FSMOne AutoSweep is an excellent solution for investors parking their funds in a place for short-term profits and opting for flexible withdrawals at any time without any penalties.

Besides, beginning investors may welcome the investment as a start-up for further sophisticated investing. Customers of may shelter and use their funds in the AutoSweep accounts to convert into other investments in the company without delay and transaction fees.

How to sign up

Technology makes the sign-up process easy. All you need is to visit the FSMOne website, look for the Auto-Sweep Account section, and opt-in to the AutoSweep account to begin earning higher yields. 

Like other account opening requirements, you must be 18 or above. The cash management account is subject to market fluctuations.

Moomoo Cash Plus – Best for new investors opting for additional rewards

Moomoo Cash Plus offers clients investment benefits and flexibility. Account holders can earn additional yields while waiting for market opportunities. A yield of 4.90% (not guaranteed) is attractive enough to appeal to short-term investors and beginners to use the cash management account for other investment goals.

Moomoo offers extra benefits to new users by increasing the yield of MCP to 5.8% p.a. However, the guaranteed yield bonus lasts for a maximum of 30 days and amounts up to SGD80,000. All rewards are payable in SGD only. Besides, Moomoo will offer you an extra SGD5 if you invest more than SGD100 in an MCP.

How to sign up

You have 2 options to open an MCP: its official website and app. Like other online brokerages, the procedures are simple and fast to navigate on the interface of its web or app.

Phillip Smart Park – Best for investors opting for a reputable brokerage

Phillip Securities, a well-known stock brokerage in Singapore, is a brand name for security and traditional business. Investors should have little doubt over its pledge to business strategies and performance. However, Phillip Smart Park may not be a fit for advanced investors seeking multiple products and aggressive clients looking for higher returns regarding investment options.

How to sign up

Like other Fintechs, you can open a Poems account before subscribing to the Phillip Smart Park portfolio. To open an account, follow the instructions on the web page or app step-by-step with your personal information ready, like ID Card, address proof, and bank account.

StashAway Simple/Simple Plus – Best for time-committed investors

StashAway offers 2 risk-level products comprising low-risk returns from Simple and higher returns from Simple Plus (higher risk). Investors have more options in parking their funds for higher returns based on their risk appetite. The portfolios may cater from beginners to advanced investors.

How to sign up

2 ways are available for account opening: official website and mobile app. Whatever options you use to open an account with StashAway, they provide users with a good experience through their user-friendly interface of advanced technology.

Syfe Cash+ Flexi

Besides benefits offered by other brokerages, Syfe offers the dollar-cost-of-averaging regular investment strategy to entice more investors. However, investors may not be interested in the account with a single currency option and limited investment choices.

Lower interest yields may draw little attention from the market.

How to sign up

Like other brokerages, Syfe provides straightforward application procedures via its official website and mobile app. Investors can have a short time to create an account and begin investing. 

Final Thoughts

An investor has one more option for earning through a cash management account while parking his funds temporarily. Some accounts offer close to an appealing interest rate of 5% p.a. Regular savors can use the account for regular investments via the dollar-cost-of-averaging strategy to increase income. 

Beginners can start to learn from the low-risk investments. However, a cash management account is an investment product with market and interest risks.

Key Takeaways

  • The 6 best cash management accounts in Singapore: Endowus Cash Smart, FSMOne AutoSweep, Moomoo Cash Plus, Philip Smart Park, StashAway Simple/Simple Plus, and Syfe Cash+ Flex.
  • Most of them have few to no investment requirements.
  • The products have no capital guaranteed and are subject to interest rate risks

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