Rates · Provider data
Chocolate Finance rates today: SGD and USD
Chocolate Finance’s S$ and US$ rates, read from its own site three times a day, with what the Top-Up Programme really does and its past rates since 2024.
Singapore dollar account
2.2% a year on the first S$20k
- First S$20k
- 2.2%
- Next S$130k
- 1.9%
- Above S$150k
- up to 1.9%
US dollar account
4.2% a year on the first US$20k
- First US$20k
- 4.2%
- Next US$130k
- 4%
- Above US$150k
- up to 4%
Not guaranteed. A promotional Top-Up Programme supports these rates up to S$150k or US$150k, to 30 Jun 2027 or until assets reach S$2.5 billion, whichever comes first. What that means
What your money earns
What the Top-Up Programme really does
The rates above aren’t a promise that the funds will earn them. They’re rates Chocolate sets, and a promotional programme fills the gap if the funds earn less. Chocolate’s FAQ puts this in one line; here is how its terms work.
| Who offers it | Chocolate Pte. Ltd., the parent company, not Chocfin, the licensed fund manager. Its terms say Chocfin “is not a party” to them. |
|---|---|
| Runs until | 30 Jun 2027 at 11:59 pm, or the day all customers’ assets reach S$2,500,000,000, whichever comes first. Chocolate can extend, shorten or vary this. |
| Covers | Balances up to S$150,000 or US$150,000 (business accounts S$300,000) |
| How it pays | Your app shows a balance growing at the stated rate (the “Ledger Balance”). The assets behind it (the “NAV”) can be lower. If you withdraw your whole account while the NAV is below the balance, Chocolate may add the difference in fund units. |
| Is it certain? | No. Accepting a request is “at the sole and absolute discretion of Chocolate”, and the terms say the programme “is not and should not be construed as a capital or income guarantee”. |
| If suspended | Withdrawals are limited to the NAV, and your balance grows at the funds’ actual returns, capped at Chocolate’s rate (clauses 5.4 and 5.6). Chocolate can suspend at once for a “Suspension Event”, such as unusually high withdrawals or a sudden rise in interest rates. |
| If ended | Your balance “will revert to reflect the actual Customer NAV less any accumulated fees” (clause 5.5). Otherwise Chocolate gives at least 14 days’ notice. |
From the Top-up T&Cs (last updated 1 Nov 2026), read every day; wording checked 5 Nov 2026. Clause 5.2 says these terms win over anything else Chocolate publishes.
US$ or S$ inside Chocolate
The US dollar rate is higher, but moving S$ across costs a fee each way, and the return comes in US dollars. Adding US$ you already hold avoids the fee. Put in your amount to see what the higher rate is worth after both conversions, and how far the US dollar could fall before the S$ account would have done better.
Weekday means Monday 5 am to Friday 10:59 am SGT (about 0.25% each way); weekend means Friday 11 am to Monday 4:59 am (about 0.50%), as Chocolate’s FAQ gives them, checked 5 Nov 2026. Chocolate says it uses the mid-market rate; we use MAS’s rate of 5 Nov 2026. The odds come from MAS’s rate on every working day of the past 10 years, in overlapping spans, and don’t forecast anything.
Past rates since 2024
Chocolate doesn’t show when each rate took effect. Its blog’s comparison tables give its rate as of certain dates, the latest 28 Sep 2026 and one showing 2.5% by 2 Sep 2025, but there’s no record of the changes. We rebuilt one from Internet Archive copies of its own pages, so you can open each one. The rate on the first S$20,000 fell from 4.2% in mid-2024 to 2%, then rose to 2.2% around the start of November 2026. The Top-Up end date has been moved out each time it came close, and the Top-Up limit, still S$100,000 in a copy of 21 Oct 2026, is now S$150,000.
Chocolate, first S$20k 6-month T-bill
Tap or hover on the chart to read a value.
| First copy | S$ | US$ | Top-up to |
|---|---|---|---|
| 5 Nov 2026 | 2.2% / 1.9% | 4.2% / 4% | Jun 2027 |
| 4 Aug 2026 | 2% / 1.8% | 4.1% / 3.8% | Dec 2026 |
| 29 May 2026 | 2% / 1.8% | 4.1% / 3.8% | Sep 2026 |
| 3 Dec 2025 | 2% / 1.8% | 4.1% / 3.8% | Jun 2026 |
| 30 Nov 2025 | 2% / 1.8% | 4.1% / 3.8% | Dec 2025 |
| 12 Sep 2025 | 2.5% / 2.2% | 4.3% / 4% | Dec 2025 |
| 10 Aug 2025 | 3% / 2.7% | 4.3% / 4% | Dec 2025 |
| 13 Jun 2025 | 3% / 2.7% | 4.3% / 4% | Sep 2025 |
| 12 May 2025 | 3% / 2.7% | 4.6% / 4.2% | – |
| 16 Feb 2025 | 3.3% / 3% | 4.6% / 4.2% | – |
| 21 Jan 2025 | 3.3% / 3% | – | – |
| 10 Oct 2024 | 3.6% / 3.2% | – | – |
| 3 Jul 2024 | 4.2% / 3.5% | – | – |
Each date opens the first Internet Archive copy we have showing that rate or Top-Up date, so the real change came on or before it. 5 Nov 2026 is our own first read of today’s rates, and the last Archive copy before it, 21 Oct 2026, still showed the old ones. The two rates are the first tier, then the next.
Is Chocolate Finance safe?
It depends what you mean. Chocolate is a licensed fund manager, and MAS requires your money to be kept apart from the company’s own. It is also not a bank: there is no deposit insurance, and the funds can fall in value. These are the facts, in its words and MAS’s.
| What it is | “Chocolate Finance is not a Money Market Fund. It is a managed account operated by ChocFin Pte. Ltd.” Its terms class the portfolio as “Conservative”, in short-duration fixed income funds and money market funds, with no equity funds and at least three funds. |
|---|---|
| Licence | Chocfin Pte. Ltd. (UEN 202347190R) says it holds a Capital Markets Services licence, no. 101452, as a fund manager. You can look it up on MAS’s Financial Institutions Directory. |
| Deposit insurance | None. “Chocolate Finance is not covered by the Singapore Deposit Insurance Corporation (SDIC) because we are not a bank.” |
| Can you lose money? | Chocolate says returns are “not guaranteed and there is a potential, although small, for capital losses”, and that daily returns above the Top-Up limit can be “positive, negative, or even neutral”. |
| Whose money it is | MAS: digital advisers must keep customer assets separate from their own, and “Customer monies must remain intact and cannot be used to meet the liabilities of the digital advisor at all times.” |
| Who holds it | Two sets of names. The terms name Allfunds Singapore Branch as the custodian holding customers’ investments. The FAQ names “HSBC, State Street, BNP Paribas, and Citibank”. We couldn’t find where Chocolate explains how they fit together. |
From Chocolate’s FAQ and terms, checked 5 Nov 2026, and MAS’s statement of 12 March 2025.
Where the money goes
The FAQ lists five funds for the S$ account today, below. The US$ account has its own five: Dimensional Global Short-Term Investment Grade Fixed Income USD Fund, Fullerton Short Term Interest Rate USD Fund, LionGlobal Short Duration Bond USD Fund, Aberdeen SICAV I Short Dated Enhanced Income USD Fund and Amova Shenton Short Term Bond USD Fund. Business accounts use two LionGlobal SGD funds. Chocolate says these can change at the portfolio manager’s discretion, and shows each fund’s share only in the app.
- Dimensional Short-Term Investment Grade Fixed Income SGD Fund
- UOBAM United SGD Fund
- Fullerton Short Term Interest Rate SGD Fund
- LionGlobal Short Duration Bond SGD Fund
- Amova Short Term Bond Fund
What happened in March 2025
- 5 Mar 2025 Chocolate removed AXS payments from its Visa debit card, saying a surge in them made its miles programme unsustainable. Fintech News Singapore
- 10 Mar 2025 It suspended instant withdrawals after a surge in requests. Fintech News Singapore
- 12 Mar 2025 MAS noted confirmation from Chocolate and its custodian Allfunds that customer assets were separate and in independent custody, and said it was engaging Chocolate on orderly withdrawals. MAS
- 15 Mar 2025 Chocolate said customers had started receiving their money. On 17 March it said 90% of the requests made on 10 March had been paid out, with the rest following its normal redemption timing. Fintech News Singapore
- 17 Mar 2025 MAS said again that it “continues to engage Chocolate Finance to ensure that customer withdrawals are met in an orderly fashion”. MAS statement, as carried by Mondo Visione
MAS’s statements don’t say whether anything went wrong. We found no MAS finding against Chocolate Finance on this, and no statement of when instant withdrawals came back, as of 5 Nov 2026.
How long withdrawals take
“While withdrawals contractually take up to 3 business days, they’re usually processed a lot faster. Most withdrawals are with you the same day, and almost all arrive within 36 hours.” If you’ve recently added money, converted currency or made several transactions, Chocolate says it can take up to 7 business days, because the funds have to settle first. Its daily cut-off is 11 am.
US dollars can go straight to your bank: free to DBS, usually within 3 business days, or a US$20 handling fee to other banks, up to 6 business days. You can’t add money from a credit card, CPF or SRS, and salaries can’t be paid straight in. Chocolate’s FAQ, checked 5 Nov 2026.
Fees
| Management fee | Nothing until the portfolio has made your rate. Above that, Chocolate keeps what the portfolio earns on top, up to 2% of your balance a year; any more is yours. It accrues daily and is taken once a year, or when you close the account. |
|---|---|
| S$ to or from US$ | About 0.25% from Monday 5 am to Friday 10:59 am SGT, and about 0.50% from Friday 11 am to Monday 4:59 am, at the mid-market rate. Minimum S$0.01 or US$0.01. |
| Withdrawals | S$: free. US$: free to DBS, US$20 to other banks. |
| Opening an account | No fee listed, and no minimum or maximum balance. |
| The funds’ own costs | Chocolate says your return is “NET of any underlying fund expenses”. The amounts are in each fund’s documents. |
Management fee from Annex 1 of Chocolate’s terms (clause 28.6); the rest from its FAQ, checked 5 Nov 2026.
What Chocolate doesn’t say
We looked for these on its site, FAQ and terms on 5 Nov 2026 and couldn’t find them:
- The date each rate took effect. Rates on the FAQ and home page carry no date. Blog tables give an as-of date, not a start date.
- What the portfolio as a whole has earned. The FAQ points to each fund’s past performance instead, and the split is in the app, so you can’t see whether the funds are covering the stated rate or the top-up is.
- Assets so far against the S$2.5 billion that would end the Top-Up Programme.
- Each fund’s share of the portfolio, outside the app.
- What stands behind the top-up: how much Chocolate Pte. Ltd. has set aside to pay it.
- How its custodians fit together, given the two sets of names above.
- T-bill rates and auction results
- Singapore Savings Bond rates
- SORA today: 1-month and 3-month Compounded SORA
- Fixed deposit rates in Singapore today, bank by bank
- UOB fixed deposit rates today
- OCBC fixed deposit rates today
- Maybank fixed deposit rates today
- DBS fixed deposit rates today
- CPF interest rates: OA, SA, MediSave and RA this quarter
- CPF contribution rates 2026 and 2027: every age, and what changes on 1 January
- CPF retirement sums 2026: BRS, FRS and ERS, which are yours, and every year since 2003
- USD fixed deposit rates in Singapore today
- Where to put your cash: T-bills vs Savings Bonds vs fixed deposits vs CPF, on your amount
- T-bill calculator
- SSB calculator
Questions people ask
What is Chocolate Finance’s interest rate today?
On 5 Nov 2026 Chocolate Finance states 2.2% a year on the first S$20,000, 1.9% on the next S$130,000 and up to 1.9% above that in Singapore dollars. In US dollars it states 4.2% on the first US$20,000, 4% on the next US$130,000 and up to 4% above that. These aren’t guaranteed, and Chocolate can change them.
Strictly these are stated returns, not interest: your money is in funds, not a deposit.
Is my money guaranteed?
No. Chocolate says it can’t “guarantee returns”, and its Top-Up terms say the programme is not a capital or income guarantee. What the programme does.
Why did Chocolate Finance’s rate drop?
Chocolate doesn’t explain each change on its site. Its terms let it amend the rate “at its sole discretion”, and the chart above shows it against T-bill yields since 2024. Its FAQ says it tells customers of a change by email and push notification.
Is it free to open, and what is the S$15 referral?
No opening fee is listed, and there’s no minimum. The S$15 is a reward paid to you, not a fee: you and the friend whose link you used each get it after you add at least S$1,000 and keep it there for 30 days. New customers can also get a welcome reward of up to S$60 if they add at least S$1,000 by 31 December 2026. Many reviews of Chocolate earn from these links; ours has none. Chocolate’s FAQ, checked 5 Nov 2026.
Who can open an account?
Chocolate says it only accepts Singapore residents, verified with Singpass. It can’t accept US citizens, green card holders, US residents or anyone with a US tax number, or citizens and residents of Iran, North Korea, Russia and Myanmar.
Can I use CPF or SRS money?
No. Chocolate isn’t part of the CPF Investment Scheme or SRS. Where to put your cash shows what CPF and SRS money can buy.
What happens to balances above S$150,000?
The rate there is “up to” the second-tier rate, with no Top-Up support: you get what the portfolio earns, capped at that rate unless it beats it by more than 2% a year. It can move up or down from day to day.
How we get these numbers
Three times a day (8:05 am, 2:05 pm and 8:05 pm, and hourly on the 1st of each month), a script opens Chocolate’s FAQ, home page and terms, the same pages you would see. Chocolate’s pages carry old rates in their text and swap in the live ones in your browser, so we read the block the swap takes its numbers from, and the Top-Up date, limit and thresholds from the terms. A read is held, and the last good rates stay up marked “being checked”, if a field is missing, the pages disagree or a rate moves more than 0.75 points at once.
The record of past rates comes from Internet Archive copies of Chocolate’s pages, each linked; from now on our own reads add to it. The sums use the daily formula in Chocolate’s FAQ, and the blended rate is the “Hurdle Return” sum in Annex 1 of its terms. On the terms’ own example, S$60,000 at 2% and 1.8%, our blended rate is 1.87%; the terms print 1.86%.
- This page shows numbers, not advice on where to put your money. See our disclaimer, how we get our numbers and corrections.
Disclosure: the editor, Jeremiah Say, has no Chocolate Finance account. Chocolate Finance contacted us in November 2026 asking to be listed. It has not paid Numbers.sg, there is no referral or affiliate link on this page, and it had no say over what we wrote.
Rates and terms are Chocolate Finance’s own published figures and words, read from the pages linked above. T-bill, Savings Bond and exchange rate data contain information from the Monetary Authority of Singapore website, made available under the terms of the MAS Terms of Use of Datasets. Numbers.sg is independent and is not endorsed by MAS or Chocolate Finance. This page shows numbers, not advice.
Changes to this page
New: Chocolate Finance rates today. Its S$ and US$ rates read from its own site three times a day; what your amount earns, next to a fixed deposit, a T-bill and a Savings Bond; what the Top-Up Programme really does, from its terms; whether moving S$ to the US$ account pays after both conversions; past rates since 2024, each with its Internet Archive copy; safety, withdrawals, fees, and what Chocolate doesn’t say. There’s an email alert for rate changes. See today’s rate