If you’re a Chocolate Finance user, take note: from 1 June 2025, the return rates on deposited funds will be reduced across all tiers. This marks the second downward revision in 2025, following a cut earlier this February.
Here’s a summary of the changes:
Before 1 June 2025 | After 1 June 2025 | |
First S$20,000 | 3.3% p.a | 3% p.a |
Next $30,000 | 3% p.a | 2.7% p.a |
Above S$50,000 | Target 3% p.a | Target 2.7% p.a |
The Top-Up Programme—which boosts returns for balances up to S$50,000—will remain in place. However, the continued erosion of returns underscores the importance of evaluating other parking options for idle funds.
Alternatives to Consider:
One current offer worth considering is from Longbridge, which provides a promotional rate for deposits of S$2,000 or S$10,000, subject to a 90-day holding period and completion of a few trades. This should net you around 3.52% – 29% annualised ROI, excluding the 2+% annualised 7-day yield that you get from the money market fund subscription. You can read the full details in my blog post below.
Still 2 miles per dollar on Chocolate x HeyMax… For Now
While returns on deposits are dipping, Chocolate Visa Debit Cardholders continue to enjoy:
- 2 Max Miles per S$1 on the first S$1,000 per calendar month
- 0.4 Max Miles per S$1 thereafter
Eligible spend categories still include insurance, charity, utilities, and education fees, as previously covered here.
That said, AXS payments have been nerfed and no longer earn miles.
You can apply for the card here to start earning 2 max miles per dollar. From experience, the approval is instant and you can start using the digital card, without needing to wait for the physical card.
If you’re planning any large bill payments, now’s the time to maximise that 2 mpd cap before any potential changes hit the debit card side of things.
Conclusion:
From 1 June 2025, Chocolate Finance will lower returns across all deposit tiers, further dampening its appeal as a high-yield savings alternative. Long Bridge presents itself as a strong alternative at the moment. The 2 miles per dollar earn rate on the Chocolate Visa Debit Card remains intact—at least for now.
