Leading Money Market Funds in Singapore (2026)

As interest rates stabilise and SGD yields remain competitive, money market fund have become the go-to solution for investors seeking daily liquidity, capital preservation, and yields of 3.3–3.6% p.a. This guide compares the top money market funds available to retail investors in Singapore in 2026.

Quick Summary

Top picks at a glance:

• Best Overall: Fullerton SGD Cash Fund
• Best Yield: LionGlobal SGD Money Market Fund
• Best Platform Access: Syfe Cash+ Flexi (SGD)
• Best for SRS: Endowus Cash Smart (SRS-eligible)
• Best for Institutional: Monetary Authority of Singapore (MAS) T-bills alternative

Fund	Est. Yield	Min. Investment	Fee
Fullerton SGD Cash	1.6%–1.8% (Nov 2025)	S$1,000	0.25% p.a.
LionGlobal SGD MMF	1.8%–2.1% (Sep 2025)	S$1,000	0.30% p.a.
Syfe Cash+ Flexi	2.3% projected (Sep 2025)	S$1,000	0.40% p.a.
Endowus Cash Smart	2.5%–3.0% (Jul 2025)	S$1,000	0.40–0.43% p.a.

Comparison Table (Last Updated: June 2026)

Methodology: Funds selected based on SGD denomination, 7-day average yield, fees under 0.50% p.a., and T+1 or T+3 liquidity. All yields as-of dates verified June 2026; yields fluctuate weekly.

Fund	Yield*	Withdrawal	Volatility	Best For
Fullerton SGD Cash	1.6%–1.8%	T+1	Very low	Conservative savers
LionGlobal MMF	1.8%–2.1%	T+3	Very low	Balanced yield–safety
Syfe Cash+ Flexi	2.3%	T+1	Low	Active traders
Endowus Smart Ultra	3.0%–3.6%	T+3	Low–Moderate	Yield-seekers
MAS T-bills (6-mo)	1.6% (June 2026)	Maturity	None	Laddered cash

How to Choose a Money Market Fund

The right money market fund balances yield, fees, liquidity, and credit quality. Here’s what to assess:

• Yield after fees: Compare net yields (post-fee). A fund yielding 3.5% with 0.50% fees nets 3.0%. vs. a fund at 3.0% with 0.25% fees nets 2.75%. (StashAway, January 2026: www.stashaway.sg)
• Underlying assets: MMFs invest in short-term bank deposits, T-bills, and short-duration bonds. Verify the portfolio composition on the fund factsheet.
• Withdrawal terms: T+1 (next business day) is standard for active traders. T+3 is acceptable for buy-and-hold. Avoid funds with lock-in periods.
• Fee structure: Compare all-in fees (management fee + expense ratio). Watch for hidden platform fees when buying via aggregators.
• Credit quality: Look for funds holding SGD deposits from major Singapore and regional banks, Singapore T-bills, and ABS (MAS-regulated bonds).

The 5 Best Money Market Funds in Singapore

1. Fullerton SGD Cash Fund

Best For: Conservative investors prioritising capital preservation and ease of access

Yield	1.617% (as of Nov 10, 2025)
Fee	0.25% p.a.
Net Yield	~1.37% p.a. post-fee
Source	Beansprout November 2025; Fullerton factsheet

Pros:

• Lowest fee at 0.25% p.a.; beats 6-month T-bill yields
• Fullerton Securities is Singapore-based and MAS-regulated
• Simple to understand and manage for retail investors

Trade-offs:

• Lower absolute yield vs. blended bond funds

2. LionGlobal SGD Money Market Fund

Best For: Investors seeking stable yield with institutional-grade management

Yield	1.8%–2.1% (Sep 2025)
Fee	0.30% p.a.
Underlying	High-quality short-term SGD instruments
Source	Syfe via Lion Global Investors, Sep 2025

Pros:

• Professional asset manager with decades of experience in Asian fixed income
• Optimised for low volatility while maximising yield on quality holdings
• Easily accessible via robo-advisors and direct fund platforms

Trade-offs:

• T+3 settlement (3 business days); slower liquidity than T+1 alternatives

3. Syfe Cash+ Flexi (SGD)

Best For: Active traders needing daily liquidity and transparent fee structures

Projected Yield	2.3% post-fees (Sep 2025)
Fee	0.40% p.a.
Platform	Syfe app; T+1 withdrawal
Source	Syfe Magazine September 2025

Pros:

• T+1 liquidity; access funds next business day
• Built on LionGlobal institutional-grade MMF
• Simple interface and no hidden fees

Trade-offs:

• Slightly higher fee (0.40%) reduces net yield vs. direct fund purchases

4. Endowus Cash Smart (SRS-Eligible)

Best For: Investors maximising SRS tax deductions while earning competitive yields

Yield (Enhanced)	2.5%–3.0% (Jul 2025)
Fee	0.40–0.43% p.a.
SRS-Eligible	Yes; full SRS top-up deduction allowed
Source	Endowus SG, July 2025

Pros:

• SRS-eligible: Contributions are fully deductible from taxable income
• Endowus offers multiple tiers (Standard, Enhanced, Ultra) to match risk appetite
• Institutional-grade underlying funds with transparent performance tracking

Trade-offs:

• SRS funds have withdrawal restrictions (locked until retirement age ~62)
• Ultra tier includes short-duration bond exposure; higher volatility than pure MMF

5. DBS/POSB Managed Funds (Money Market Option)

Best For: Existing DBS/POSB customers seeking convenience and bundled benefits

Yield	1.8%–2.5% (fund-dependent, Jun 2026)
Fee	0.35–0.50% p.a.
Access	DBS digibank app, web portal
Source	DBS Fund Factsheets, June 2026

Pros:

• Integrated into DBS banking platform; one-click investing from savings account
• No separate brokerage account needed

Trade-offs:

• Yields often lag specialist MMF platforms by 0.3–0.5%
• Higher average fees due to bank intermediation

Best by Use Case

• Best risk-free return: Fullerton SGD Cash Fund (0.25% fee, T+1 liquidity)
• Best for institutional-grade yield: LionGlobal MMF via Syfe
• Best for retirees and fixed income: Endowus Cash Smart (SRS-eligible)
• Best for tax-loss harvesting traders: Syfe Cash+ Flexi (T+1 liquidity)

FAQs

Are money market funds safer than bank savings accounts?

MMFs are professionally managed but carry marginal credit risk (they invest in bank deposits and short-term bonds). Bank savings accounts are covered by SDIC deposit insurance up to S$75,000 per account. MMFs are not. However, MMF credit risk is very low for funds holding MAS T-bills and major bank deposits. (SDIC; MAS T-bill framework, June 2026)

Can I withdraw from an MMF anytime?

Most MMFs offer daily liquidity with T+1 or T+3 settlement. Some funds may impose brief redemption fees (0.1–0.25%) for very short holding periods (< 30 days). Check the fund prospectus.

Should I choose an MMF or a bank fixed deposit?

MMFs are superior for investors needing flexibility; FDs lock capital for a term. Yields are comparable (1.5–3.5%), but MMFs allow daily access while FD rates are fixed for the duration. For investors who never touch the money for 2+ years, FDs may offer certainty; for others, MMFs are more practical.

How do money market funds generate returns?

Money market fund earn returns by investing in short-term, high-quality debt instruments such as fixed deposits, Singapore Government Treasury Bills, and commercial paper from highly rated banks and corporations. These instruments typically have maturities of less than one year, which helps keep volatility low while providing stable income. Returns fluctuate based on prevailing interest rates, so yields may rise or fall as monetary policy changes.

What are the main risks of investing in money market funds?

While money market fund are considered low-risk, they are not risk-free. The main risks include credit risk (if an underlying issuer defaults), interest rate risk (if rates move sharply), and liquidity risk during extreme market stress. Unlike bank deposits, MMFs are not insured by the Singapore Deposit Insurance Corporation (SDIC), meaning capital is not guaranteed. However, funds that primarily hold Singapore T-bills and deposits with major banks generally maintain very low risk profiles.