Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Maybank m2u savers 2.1% pa, 2 gud 2 b true 4 savings acc?

views
     
GrumpyNooby
post Feb 18 2021, 09:33 PM

10k Club
********
All Stars
12,387 posts

Joined: Feb 2020
QUOTE(cklimm @ Feb 18 2021, 09:32 PM)
Ram, what versa? Thats new to me
*
Something like Stashaway Simple™

Another fintech investing into money market fund by Affin Hwang Asset Management

Versa: https://versa.com.my/

This post has been edited by GrumpyNooby: Feb 18 2021, 09:39 PM
GrumpyNooby
post Feb 19 2021, 10:02 PM

10k Club
********
All Stars
12,387 posts

Joined: Feb 2020
QUOTE(ryan18 @ Feb 19 2021, 08:18 PM)
Hmm they did mention on the main page up to 2.4% with an asterisk lol
Quote from FAQ
Currently, net interest is approximately 2.0 - 2.1% per annum.

The interest is compounded daily and it fluctuates based on the market of the funds.
Let’s say your compounded interest rate is 2.1% per annum
The non-compounded interest rate will be slightly less and is 2.078% per annum.
Your daily interest rate will be 0.0057%.
= (2.078% / 365 days)

For example, you deposit RM1000.
After your deposit is being processed, your interest for your first day is RM0.06
= (0.0057% x RM1000).
On the second day, the total interest you receive is RM0.11
= [(1+0.0057%) x (1+0.0057%) x RM1000] - RM1000

The interest will be compounded daily and it is calculated based on your deposit and your accrued interest.

However, interest earned daily will only be credited to your account every 2 weeks in the form of payout. When you receive your payout, you receive 2 weeks worth of interest.
*
This one is referring to which one? Simple™ or Versa?

 

Change to:
| Lo-Fi Version
0.0307sec    0.51    7 queries    GZIP Disabled
Time is now: 7th December 2025 - 06:15 PM