StashAway Simple Guaranteed Update: More Tenure Options, Highest Yield 3.8% For 1-Month Tenure

Competition for capital guaranteed products appears to be heating up, with the most recent update from StashAway to their Simple Guaranteed product.

StashAway is now offering more tenure (they call it tenor) options for Simple Guaranteed, ie 1 month, 3 months, 6 months and 12 months. Previously, only 6-month tenures were offered. Underlying asset are fixed deposits with MAS-regulated banks.

See my previous review of StashAway Simple Guaranteed

In addition, the maximum yield offered has increased to 3.8% pa for the shortest 1-month tenure. All other conditions remain the same.

My brief thoughts

Imo, 3.8% is pretty attractive for 1-month term. Simple Guaranteed doesn’t require a minimum placement so you can put in whatever amount you have.

Syfe has a comparable product called Cash+ Guaranteed but that’s offering a lower 3.7% and is only available for 3-month term.

T-bills are offering higher yields. The last 6-month T-bill auction on 28 Sep 2023 had a cut-off yield of 4.07%. T-bills require a minimum placement of $1k though.

For other available options, see my Fixed Income Tracker

Personally, I’ve just placed an initial $1k into Simple Guaranteed for 1-month term. Funds were placed with Citibank.

I anticipate yields to increase further, so I’ll keep the rest of my cash with MoneyOwl WiseSaver (to be transferred to iFAST GM soon; projected yield 4.02%) and Syfe Cash+ Flexi (projected yield 3.7%).