Syfe Launches First-of-Its-Kind Investment Management Service in Hong Kong
Syfe, Asia Pacific’s leading all-in-one digital investment platform, today announces the launch of Cash+ Fixed, Hong Kong’s first investment service for time deposits.
By investing into exclusive time deposits with banks regulated by the Hong Kong Monetary Authority (HKMA), Cash+ Fixed helps investors achieve a fixed interest rate of 4.7% p.a. (HKD, 6-month term) with no minimum or maximum investment amount, no extra requirements and no management fees.
Cash+ Fixed beats almost all time deposits available to retail customers today that do not have extra conditions or restrictions. Such competitive rates are possible because Syfe leverages its scale as a financial institution to negotiate with top global banks, continuously seeking partners that can offer the most competitive returns as interest rates fluctuate. Cash+ Fixed customers can therefore be confident that rates are amongst the best available, without needing to shop around or jump between banks when their fixed term ends.
Kevin Li, General Manager and Head of Syfe Hong Kong, said: “Hong Kong has a huge number of time deposit accounts that boast high interest rates, but the highest advertised rates often involve a number of requirements. These can include high deposit thresholds or using another of the bank’s services, such as investments or loans, which may not be possible or suitable for the circumstances of many people. To help customers avoid the need to shop around to find good, achievable rates, we have launched Cash+ Fixed. This innovative service enables them to invest into time deposits with preferential rates at some of the world’s biggest banks, without the common hurdles or restrictions. Whether you have HK$5,000, $50,000 or $5,000,000, you can benefit from the competitive rates Syfe has negotiated.”
Dhruv Arora, CEO and Founder of Syfe, added: “The choice of high-interest savings accounts in the market should be great news, but we don’t think people should have to jump through hoops to reap the benefits. The issues we see here in Hong Kong are similar to those in Singapore, which led us to launch a Singapore version of Cash+ Fixed last year. This has been our fastest growing product, surpassing deposits of HK$ 1 billion within weeks. With such clear demand, we are excited to bring this service to Hong Kong so that everyone can enjoy competitive interest rates with the greatest ease and flexibility in the market. This reflects our mission to provide innovative ways of investing that empower people to grow their wealth.”
Cash+ Fixed is an investment management service, and should not be taken as a collective investment scheme or a deposit or savings account. The optimised rates are not due to pooling of invested funds by Syfe, and Syfe is not offering Cash+ Fixed as a fund, scheme, or portfolio with a pooling element. Until the investment starts, the return rate is subject to change. Cash+ Fixed returns are fixed, subject to underlying bank risk. All Cash+ Fixed returns are only available after maturity.
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