u dont need it to sit for a year. within few days can see interest on it. do realize interest deposit into it after few days.
when want, i just transfer from simple to my portfolio. dont bother about how long it take. most important is
1. got interest on simple
2. can transfer in and out when require.

start use simple, then u will know how good it is

Simple doesnt have any additional charges right?

StashAway management fee for any balance FREE

Net expense ratio charged by the underlying fund managers Approx. 0.165%
The net expense ratio is 0.29%, made up of the underlying money market fund’s 0.25% annual management and 0.04% trustee fee. There is also a rebate of 0.125% that we award back to you when we receive it. The difference is the 0.165% net expense ratio for StashAway Simple™.


https://www.stashaway.my/pricing

Deposited 17th June for Simple.

Till date 0.078% increase (2 weeks). If following layman calculation 52 weeks in a year- 2.028% p.a. But I'm not complaining la since interest is calculated on daily rate, and I'm consolidating my FD's

https://www.syfe.com/equity100

Syfe SG launches 100% equity which is US and NASDAQ 100 heavily allocated.
sharing for guys reading



too bad Syfe is not available in Malaysia or else is a good alternative to SA for those who like US weighted portfolio

This post has been edited by tadashi987: Jul 1 2020, 10:26 AM

your calculation is wrong eh. if you didn't withdraw your principle your interests will be compounded daily. so assuming 2.03% p.a. effective interest rate is 3.7. much higher than FD since FD is only compounded annually.

zstan is right, that interest compounds daily.

please redo the calculation on next Friday to check it performance.

if like it, then only consolidate your FD.

just deposit like rm100 to test the cash thingy...2.4%... hm...and i read its actually invest in eastspring funds (correct kah?)... looking at that funds performance is yearly like 3.x% ... so i guess is kinda put in SA with 2.4% though they then invest into Eastpring..... if gotten 3.x% percent then SA give us the promised 2.4% and earn 1.x% out of it.... not too bad since SA can cash in/out anytime as oppose trust funds... at least better than FD...

This post has been edited by calapia: Jul 1 2020, 11:12 AM

hm..... if same can happen for GBP, then it can happen to USD also? like that concern la.... Say can withdraw anytime..but if cannot meet some req from their end...then its not meeting the "withdraw anytime" dy.....

if not mistaken, read it somewhere it is calculated daily but credit monthly..
may i know from where you get the statement/fact compounded daily??

calculated daily means compounded daily no?

Thanks for sharing. One can only hope SA follows suit.

That, or Syfe sets up shop in Msia

nvm changed already lol.

This post has been edited by ben3003: Jul 1 2020, 02:09 PM

from my understanding
compounded daily means today's interest calculation will be capital + yesterday interest earned
but
if calculated daily, credit monthly means for the whole month, the interest calculated based on the capital on 1st of the month. and the next month interest calculation will be inclusive of previous month interest earned + capital
(this method is pretty wide use for high yield saving acc)

if its compounded daily, i would assume SA will include in their selling point. it is a huge selling point!

This post has been edited by xcxa23: Jul 1 2020, 02:23 PM

double post

This post has been edited by xcxa23: Jul 1 2020, 02:21 PM

yes but for high yield saving account you only get to see the money at the end of the month. but for Simple it's credited every other day. you can test for yourself within 1 month with the same amount of principle and see money earned every week is the same or compounded.

dont think its daily compounding

this simple buy into EIMM UT fund...
just think of how the MM rewards its investor
think how it do the monthly distribution....
then maybe you can know whether it is daily or compounded or any calculation method use....
ex for normal UT fund, buy in at 1.000 on 1 July, end of the July it goes up by 0.25%
then distribution in the form of extra units...

Simple is invest in Eastspring Investments Islamic Income Fund, it is money market fund & will distribution income by every month. It should monthly compounded.