Sea-owned MariBank and its fund house partner, Lion Global Investors, have launched Mari Invest, an instant cash-out investment account. This is the first such investment account by a bank in Singapore.
The account offers investors access to products including the Lion-MariBank SavePlus fund, which is an alternative for consumers seeking higher returns on their spare cash or are looking for easier access to investment instruments such as the Monetary Authority of Singapore’s (MAS) treasury bills.
The Lion-MariBank SavePlus fund itself comprises mainly Monetary Authority of Singapore (MAS) Bills (around 60%) and high-quality bond funds.
According to the joint release on Oct 3, the account enables investors to participate in potentially higher yields compared to Singdollar fixed deposits, while keeping overall portfolio risk low.
At present, MariBank’s savings account offers an interest rate of 2.88% per annum. This is paid daily and comes without the need to fulfil any additional conditions such as salary crediting or minimum spend.
“We know that consumers today want to grow their wealth but can find the range of options overwhelming. That's where Mari Invest comes in. We made it simple and accessible, allowing anyone to start investing, grow their wealth, and help them on their journey to secure their financial future,” says Zheng Yudong, CEO of MariBank.
See also: Alibaba anoints new chief in revamp of stalling commerce arm
“The collaboration with MariBank validates the demand for a simple and effective approach to liquidity management. This product is an expansion of our product range and demonstrates our capabilities in providing innovative and democratized investment solutions for retail investors through a digital backbone,” adds Teo Joo Wah, CEO of Lion Global Investors.
