Since fixed deposit and Treasury Bill yields are dropping and have lock-in periods, I decided to move some spare cash to Chocolate Finance. They offer 4.2% p.a. on the first S$20,000 and aim for 3.5% p.a. on any amount above that.
I tested depositing and withdrawing funds, and the withdrawal was instant. It's important to note that deposits are not covered by SDIC insurance. However, Chocolate Finance assures users that their funds are segregated and held separately by trusted and licensed custodians, HSBC and State Street.
Because it's not FD insured, I started with a smaller amount to feel comfortable.
Referral Bonus: If you're interested in trying Chocolate Finance, you can use my referral link to sign up
https://share.chocolate.app/nxW9/y321ds2r
Otherwise, going directly to their website might put you on a waitlist.
What are your thoughts about it?
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