Chocolate Finance Launches Business Accounts in Singapore With Up to 1.5% Returns on Idle Cash

Businesses can earn up to 1.5% annual returns on their idle cash. There are no lock-in periods or withdrawal penalties, allowing companies to access their money when they need it.

Founder Walter de Oude said many businesses earn very little interest when they keep their money in traditional bank accounts. Chocolate Business aims to help companies earn more while keeping their cash available for everyday expenses such as payroll and supplier payments.

The service is also aimed at solving a common problem for small and medium-sized businesses. According to the company, Singapore SMEs lose around S$800 million every year in potential interest by keeping their cash in low-yield accounts.

Chocolate Finance currently manages around S$1.6 billion in assets and has more than 150,000 customers, showing the growth of its financial platform since its launch.

The platform has no fees and allows businesses to track their daily balance through a dedicated app. Withdrawals are processed within one to two business days, giving businesses easy access to their money.

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