QUOTE(cklimm @ Feb 18 2021, 09:32 PM)
Something like Stashaway SimpleAnother 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
Maybank m2u savers 2.1% pa, 2 gud 2 b true 4 savings acc?
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Feb 18 2021, 09:33 PM
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QUOTE(cklimm @ Feb 18 2021, 09:32 PM) Something like Stashaway SimpleAnother 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 |
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Feb 19 2021, 10:02 PM
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QUOTE(ryan18 @ Feb 19 2021, 08:18 PM) Hmm they did mention on the main page up to 2.4% with an asterisk lol This one is referring to which one? Simple or Versa?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. |
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