Funds that are deposited into Flexible Accounts will be invested into a money market fund managed by Fidelity International. Revolut offered this fund in the UK and European Economic Area (EEA) last year and since then, current assets under management (AUM) has hit GBP3 billion ($5.14 billion).
Fintech app Revolut has announced Flexible Accounts, its first interest-bearing product in Singapore, offering customers up to 5.21% in annual percentage yield (APY) with no minimum sum. This interest is paid daily and available for withdrawal anytime, says Revolut on May 29.
Revolut’s Singapore users are the first to access Flexible Accounts outside the European Union (EU).
