StashAway Simple

[Han Shot First]

Rebate from fund manager is 0.125% for each of the underlying unit trusts.

1.64% + 0.125% = 1.765% which is about 0.12% less than projected rate of 1.885% (3 decimal places) ~ 1.9% (1 decimal place)

StashAway said they will inform their StashAway Simple customers if there is any change of (about) 0.1% in the projected rate.

 

[tesarise]

From 18-Nov till 4-Dec, 1.64%.

how did you actually get the 1.64%
its just been 2+weeks, and 1.9 is per annum.

 

[Brown24]

how did you actually get the 1.64%
its just been 2+weeks, and 1.9 is per annum.

Interest still can be calculated on daily even though it's quoted annually.
Use XIRR formula in excel if u dunno how to calculate yr investment return.

 

[assiak71]

1.9% is after rebate, which is credited quarterly right. So in a way there is "lock in" of 3 months to enjoy the full 1.9% p.a.?

Again see this

You have to wait till rebate is in to calculate xirr

 

[tesarise]

Interest still can be calculated on daily even though it's quoted annually.
Use XIRR formula in excel if u dunno how to calculate yr investment return.

So small duration extrapolate to a whole year the margin of error high af. Should expect delays between when you start counting and when your money gets actually invested by stashaway and the value date of the balance.

Not questioning your methodology, but some people need to know the nuances behind the number otherwise anyhow panic

 

[WoShiPro]

Been 1 month since I put some cash with simple.

The interest is roughly 1.4% without the fund fees rebate. Even with fund fees rebate at 0.1% it's only 1.5% unlike what stashaway claim of 1.9%

I'm ok with the returns as this is a fuss free way to earn interest instead of transfering money every now and then to different account whenever there a bank promotion.

 

[Han Shot First]

The interest is roughly 1.4% without the fund fees rebate. Even with fund fees rebate at 0.1% it's only 1.5% unlike what stashaway claim of 1.9%

Have you checked with StashAway why they are providing a much lower rate of return for StashAway Simple compared to their recent advertised projected rate of return of 1.9% announced only a short while ago?

The 1 year annual return of LionGlobal SGD Money Market Fund is 1.6073% (without rebate). That is already higher than your reported actual return of 1.4% (to 1.5% with rebate) for StashAway Simple; StashAway Simple return ought to be higher than 1.6073%.

 

[testingabc]

Been 1 month since I put some cash with simple.

The interest is roughly 1.4% without the fund fees rebate. Even with fund fees rebate at 0.1% it's only 1.5% unlike what stashaway claim of 1.9%

I'm ok with the returns as this is a fuss free way to earn interest instead of transfering money every now and then to different account whenever there a bank promotion.

hi can i check is the interest daily, weekly, monthly? it seems better than cimb fastsaver, interested to know. and is it easy to withdraw? thanks in advance.

 

[WoShiPro]

Have you checked with StashAway why they are providing a much lower rate of return for StashAway Simple compared to their recent advertised projected rate of return of 1.9% announced only a short while ago?

The 1 year annual return of LionGlobal SGD Money Market Fund is 1.6073% (without rebate). That is already higher than your reported actual return of 1.4% (to 1.5% with rebate) for StashAway Simple; StashAway Simple return ought to be higher than 1.6073%.

Stashaway email reply
The returns are accumulative and the performance of the funds is dependent on economic health and trajectory in Singapore. As you have only been investing for a month, we would recommend for you to give the portfolio some time to grow to its potential.

It might need some time before it reach 1.9% as per stashaway reply.

 

[WoShiPro]

hi can i check is the interest daily, weekly, monthly? it seems better than cimb fastsaver, interested to know. and is it easy to withdraw? thanks in advance.

Interest is given daily. No interest on non-trading day(weekends/public holiday)I have other investments with stashaway and it's easy to withdraw. After executing the withdrawal u can expect your money to be in your account after 2-3 days.

 

[assiak71]

Anyway it simply depends on the performance of the underlying funds. There is no guarantee of 1.9% (after rebate). In some years it will be lower, some years higher. Surely you guys know this

 

[duststorm]

Yup... is already stated is estimated and non guaranteed

Anyway it simply depends on the performance of the underlying funds. There is no guarantee of 1.9% (after rebate). In some years it will be lower, some years higher. Surely you guys know this

 

[Han Shot First]

(1.5 - 1.9) / 1.9 = -0.2105 = -21.05% error in StashAway's estimate (to StashAway's advantage).

And StashAway is still advertising "Earn a projected rate of 1.9% p.a. with your cash with StashAway Simple" at the top of their home webpage.

Seems to raise some doubts about the credibility of this company.

 

[Brown24]

Experiment result from Stashaway Simple

First deposit: 19-Nov-19
2nd deposit: 5-Dec-19
3rd deposit: 31-Dec-19
Full redemption: 5-Jan-20

Nett XIRR: 1.776%

 

[psyfy]

Experiment result from Stashaway Simple

First deposit: 19-Nov-19
2nd deposit: 5-Dec-19
3rd deposit: 31-Dec-19
Full redemption: 5-Jan-20

Nett XIRR: 1.776%

That's actually a decent return for a no lock-in and easy withdrawal product.I've maxed my OCBC 360 and purchased 2 SSBs and temasek bond in 2018 and 2019. Just looking for a place like a deposit account with decent returns.

Might give this a go. Considered Etiqa Elastiq but i find Stashway's product more appealing.

 

[cfleee]

IRR at different times, based on the monthly statements:

22-Nov-2019: start
29-Nov-2019: 1.629%
31-Dec-2019: 1.555%
31-Jan-2020: 1.801% (rebate paid on 30-Jan)
28-Feb-2020: 1.811%
current: 1.754%

StashAway's page continues to show the old projection of 1.885% after rebate, but since they only intend to update if it changes to 1.8%, that probably only means that they still target >1.80% or >1.85% depending on how they round?

Next point to check the performance after quarterly rebate will probably be end-April.

 

[assiak71]

Anyone knows how long withdrawals take?

 

[Perisher]

Anyone knows how long withdrawals take?

A few days

 

[testingabc]

Can i check last few months Stashaway Simple got 1.9%? Anyone with this account can share? Thank you~

 

[WoShiPro]

Can i check last few months Stashaway Simple got 1.9%? Anyone with this account can share? Thank you~

It's around 1.8 for me with rebate. Much better as compare to FD/SSB

Consider the environment right now. The underlying Money market find interest should drop when they release the annual report next month.