Uncertain markets? We've got you. How Chocolate Finance's Top-Up Programme helps keep your money happy, even when markets aren't.

Singaporeans are pretty good at putting money aside. But is that money working as hard as it could? We've always known there's plenty of spare cash out there that could be doing more. So we recently commissioned a survey asking 1,000 Singaporeans about their spare cash, and the results completely validated that.

Nearly 9 in 10 (89%) have spare cash. Yet 3 in 4 of those with spare cash don't think most of it is working as hard as it could. And only 1 in 10 are very confident they know the interest rate their bank accounts pay!

And with markets behaving the way they have this year, keeping track of your returns and getting more from your money isn't always straightforward. You might move your money into an investment offering an attractive yield, only to discover that the return you actually earn is quite different. That's because the yield you see isn't always the return you earn. And it's exactly why we built Chocolate Finance's Top-Up Programme.

When 3% doesn't necessarily mean 3%

Here's something worth knowing.

A bond fund showing an expected yield of 3% p.a. doesn't necessarily mean you'll earn 3%. When market yields rise, existing bond prices generally fall. Even short-duration bond funds, which are typically less sensitive to interest rate movements, can feel the impact. And we've seen how market movements can affect returns in 2026.

For example, some short-duration bond funds available in Singapore have delivered year-to-date returns of less than 1%, despite the potentially attractive yields associated with this type of investment.

It's an important reminder that the headline % you saw in the ad is the expected yield, not a guarantee. The actual returns you may get are not the same thing, and sometimes far from it!

"A bigger number on an ad is not always more money in your pocket. Before moving money for a higher headline, do the year-one maths on your actual balance."

Benjamin Tan, Chief Investment Officer, Chocolate Finance

And when you're putting cash aside for something important, whether that's your next home, a rainy day or simply making the most of your spare cash, the return you actually earn matters far more than the number you were expecting. You can't bank a prediction. Getting to your goal will take a lot longer if you are not checking in on the actual performance.

But having to keep such a close eye on your cash is hard work…

So why does Chocolate Finance offer a Top-Up Programme?

As Anto Lawrence, Chief Product Officer at Chocolate Finance, recently shared on LinkedIn:

"This year is the answer. We built it for periods like these: to give customers certainty on the stated rate. Because the yield you see isn't always the return you earn."

Anto Lawrence, Chief Product Officer, Chocolate Finance

We can't control what markets do. No one can. But we can design a product that helps bridge the gap between expected yields and actual returns, so you don't have to be concerned each time the market moves.

That's exactly what our Top-Up Programme does. Your money with Chocolate is invested in a carefully selected portfolio of short-duration fixed-income funds, designed to generate returns. But like all investments, those returns can fluctuate with market conditions.

If the underlying portfolio doesn't generate enough to meet the stated Chocolate rate, we top up the difference on your eligible balance during the Qualifying Period.

It's our way of helping you enjoy greater predictability in an unpredictable market.

We started with S$50k. Now we're going all the way to S$150k.

When we first introduced the Top-Up Programme, it supported the Chocolate rate on your first S$50,000 or US$50,000. But you loved it. And we listened.

In May 2026, we doubled that support to S$100,000 and US$100,000.

And now, from 1 November, we're increasing it again. This time to S$150,000 and US$150,000.

That's three times where we started.

Why? Because we know how important it is to have greater confidence in what your money is earning, particularly when markets are unpredictable.

And as more customers choose Chocolate to put their spare cash to work, we want to keep making the experience even better.

So, how does the Top-Up Programme actually work?

Let's say the applicable Chocolate rate is 2.2% p.a., but the underlying portfolio generates a lower return.

Rather than leaving you with that lower return, Chocolate tops up the difference to support the stated rate, subject to the programme's terms and conditions.

And from 1 November, that support extends to your first S$150,000 in your SGD account and first US$150,000 in your USD account.

It's that simple.

No complicated hoops. No lock-ins.

And with returns reflected daily in the Chocolate app, you can see how your money is doing without having to constantly check the markets.

Of course, the Top-Up Programme isn't a capital guarantee, and Chocolate rates can change with market conditions. But it's designed to give you greater confidence in the returns your money is earning.

Three questions worth asking yourself

Whether your cash is with Chocolate Finance, a bank or another investment provider, it's worth checking how hard it's actually working.

1. What have you actually earned since 1 January? Not just the advertised yield, but the actual return on your money.
2. What have you earned over the past three months? Markets change, and recent performance can tell a very different story from a quoted yield.
3. How does that compare with the yield you were shown? Make sure you're comparing returns over the same period, on a consistent basis.

Because when it comes to your money, what matters isn't just the number you're shown. It's what you actually earn.

Uncertain markets. Happier money.

Our research tells us Singaporeans want their spare cash to work harder. And this year's markets have shown why it's so important to look beyond the advertised yield. We're stepping up again to support your cash, through the ups and downs.

Because your money deserves to work harder. Even when markets make it hard.

Find out more about Chocolate Finance's Top-Up Programme

Survey methodology: Independent research conducted by Milieu among 1,000 Singapore residents aged 18 and above from 25 September to 5 October 2026.

Disclaimer

Chocolate Finance is a brand of Chocfin Pte Ltd and is regulated by the Monetary Authority of Singapore. The views and opinions expressed on this post are solely those of the original authors and contributors as of the date of this post and are subject to change based on market and other conditions. This is for information only and does not constitute an offer or solicitation to buy or sell any of the investments mentioned. Neither Chocfin Pte. Ltd. ("Chocfin") nor any officer or employee of Chocfin accepts any liability whatsoever for any loss arising from any use of this blog or its contents.

Please note that Chocfin does not guarantee the accuracy, relevance, timeliness, or completeness of the information provided on this post. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Chocolate's returns are currently supported by a promotional 'Top-Up Programme', valid during the Qualifying Period and subject to terms and conditions. Past performance is not indicative of future results. All investments involve risk, including the risk of losing all of the invested amount and may not be suitable for everyone. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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