34 upvotes, 3 direct replies (showing 3)
View submission: Chocolate Finance has paused all instant withdrawals due to high demand
What I don't quite get is that you get similar rates via Shopee Maribank and GxS, and at the very least, they both do have a banking license.
That being said, it's quite likely that people won't lose their money even if ChocoFin toh. AFAIK, MAS has custodian laws for this.
Comment by Twrd4321 at 10/03/2025 at 01:40 UTC
47 upvotes, 2 direct replies
From chocolate finance FAQ
Your money is invested into a portfolio of fixed-income funds carefully selected to optimise risk-adjusted returns based on factors like duration, yield to maturity, credit quality and currency. This allows the portfolio to target a return of 3.3%
Chocolate is not a savings account. It is an investment.
Also, Maribank and GxS interest is 1% lower compared to Chocolate.
Comment by Intentionallyabadger at 10/03/2025 at 07:57 UTC
6 upvotes, 0 direct replies
My guess is that people were in it for the miles. Bill payments are usually not eligible for miles.
So when they removed it, everyone just decided to zao.
Kind of like when singlife reduced their interest rates. Everyone just took their 10,000 and went home.
Comment by FlipFlopForALiving at 10/03/2025 at 03:10 UTC
1 upvotes, 0 direct replies
Maribank interest rates drop drop drop like grapes already