Elliot Tan asked 1 week ago
Hi TFP,
May I check your views on Chocolate finance? I've placed 5 digits inside mainly to be able to withdraw and repay my loan. However, because of a finance influencer, people seem to be panicking about recalling their cash. I understand that bonds have a term before maturity, so I'm still not fully withdrawing. Any advice?
May I check your views on Chocolate finance? I've placed 5 digits inside mainly to be able to withdraw and repay my loan. However, because of a finance influencer, people seem to be panicking about recalling their cash. I understand that bonds have a term before maturity, so I'm still not fully withdrawing. Any advice?
1 Answers
Rusmin Ang Staff answered 1 week ago
Hi Elliot,
Sounds like a bank run to me. You would probably need more time to withdraw out those money, provided the assets can be liquidated at par value. Hopefully nothing is lost there. Generally, I don't think it is worth the risk to earn extra one or two percentage by parking our money on start-up enterprises, even though they may be licensed under MAS. It is safer to park our money on SSB or short-term T bills.
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