Stashaway has raised the projected rate of its Stashaway Simple portfolio to 1.1% p.a. from 1.0% p.a. previously.
“Central banks around the world are starting to increase their interest rates to counter inflation. Simple’s returns are closely tied to the interest rates, so when the rates go up, so does Simple’s ability to earn more on cash,” says Stashaway co-founder and chief investment officer Freddy Lim in an email to account holders on May 13.
Lim adds: “To determine the expected projected rate for Simple, our investment team reviews the past rate and expected rate with the underlying fund managers, and also assesses the economic environment. After careful consideration, we’re revising Stashaway Simple’s projected rate upward to 1.1% p.a. as of May 13, 2022.”
