Earn a projected 3.1% + 0.25%* p.a.

First, with the enhanced liquidity fund, we are using an institutional share class that has lower total expense ratio (annual fee charged by the ELF's fund manager) than the retail share class available on FSM or anywhere else. So, we give you access to the ELF at a lower cost.

Second, we return all rebates from the enhanced liquidity fund and money market fund back to you. Most other platforms and fund managers don't do this.

Unlike fixed deposit accounts that require a minimum lock-up period, you can withdraw from StashAway Simple™ at any time. And unlike traditional savings accounts, StashAway Simple™ doesn't have any tiered earnings structures or account activity requirements. Also, StashAway Simple™'s rate can vary, depending on the economic environment. In addition, your Simple portfolio is made up of ultra-low risk assets, but is not insured.

While we do our best to ensure the closest possible match between the projected rate and actual returns, there may be variations between the two. The projected rate of a money market fund is an estimation based on the current investments, interest rates, and expenses of the fund. It is usually expressed as a 7-day annualised yield, which represents the income generated by the underlying funds over a 7-day period, annualised for a full year.

Here’s a few factors that can cause the actual returns to differ from the projected rate:

1. Interest rate fluctuations. The yields on short-term securities, in which Simple’s funds are invested in, are sensitive to interest rate movements. If interest rates rise, the yield on the funds' investments will also eventually increase, positively affecting the actual return.
2. Changes in the funds' investments. The fund manager may buy or sell securities in response to market conditions or investment strategy changes, which can impact the actual return. To provide the best possible projection of future returns, we regularly update the projected rate and maintain ongoing communication with our partner fund managers.
   

No, and Simple shouldn’t be covered by SDIC, as it is not a bank deposit. 

Instead Simple safeguards your money in a different way:

• Your funds are invested in money market funds
• These assets are held in segregated custody accounts, separate from StashAway’s and the fund manager’s assets

That means your money always remains yours, even in the unlikely event that StashAway were to shut down.

Your assets in Simple are never mixed with StashAway’s balance sheet, so they don’t require SDIC protection. 

Banks, on the other hand, operate on a fractional reserve system. This means the banks lend out your deposits and only keep a fraction as cash. That’s why SDIC protection is necessary for bank deposits, in the event of a bank run, there is a possibility that the bank does not have enough cash on hand, which is where the insurance comes in. 

Find out more here: What happens to my money if StashAway gets acquired, goes public, or closes?