🤔 automatic withdrawal to e-wallet balance down to the cent anytime though

considering both versa and SA Simple's "real return" now is around ~1.2% anyway, it might still justify dropping them in favor of TnG Go+?

Just napkin math, I've put in ~2k in both Versa and SA Simple on the same day, and withdrawn after 1 month, and removing overnight interest due to delay in deposit, my returns were roughly 1.2~1.4% p.a. , not to mention the sentiment I've seen is that it'll drop further.

(Monthly gain were in the ballpark of RM2.3~2.5)

Hi just want to ask to purchase this fund we have to pay for government tax? I receive tax voucher after I purchase.
If I sold it off, I will be tax again for my earning?

Thanks Dragon and Xander, should have mentioned promo FD rates. I see the returns for SA simple and versa are higher than non-promo FD rates tho but not higher than promo rates.
Mind sharing what is Pecef? never heard of it.

Thanks all for the input. If its for liquidity with some earnings, why not high interest savings accounts? Is it because MMF has no requirements to fulfil?

High interest savings account there is conditional interest with spend requirements hence it is still won’t grow your money which total rubbish when the year named it as high interest savings which is misleading

MMF are designed for flexibility and liquidity purposes but with the anything under 2% OPR and as long as they can give returns of 2.1% they will grow for now until when inflation hits back in Malaysia at 3% then BNM will have to hike rates

Even with those so called FD promo are mostly rubbish for 1 year with simple interest of fixed rate while MMF will outperform them at variable rate with compounding unless anything more than 30% higher than OPR at least 3%

You can try 6months and you should a difference

MMF at those days are too strict compared to now because minimum deposit hence lower returns. In MMF the returns are mostly depending on market cap which you can see with Versa at least underlying fund of rm2.2 billion to be efficient to give at least 20% more than OPR

MMF are supposed to yield a total least 20% more than OPR but most fund houses screwed themselves up as you can see with Principal itself only on par with OPR because expense ratio deducted

Go+ will deemed as failure as compared to Versa because in terms of liquidity and returns. Unless KAF has a digital product you will still see Versa ruling the market.

You should benchmark with SG MMF mostly are going downhill to giving less than 1% on some fund houses

RHB Smart Account is giving 2.85% p.a. interest if a few conditions are met. No money market fund that I am aware of offer a better rate than that consistently.

High interest savings account are not rubbish and there is nothing misleading about it at all. You just need to understand how it works. If you are smart in using it, you won't have to actually spend more just to get the higher interest. It offers even greater liquidity than any money market fund and the principal and interest is guaranteed.

i think u got confused with rhb bonus saver for up to 1.5%

I assume you are talking about rhb bonus saver

Once you have incremental of rm500 by the end of each month for the period of 1 year, you get 2.65% interest (before covid rate)
Last I checked, no need to top up every year. (2020 December) Just that without rm500 incremental balance increase, there no extra bonus interest

Have they change their t&c?

Newbie here. I am starting to notice there are many players now for MMF. So far which are the better choice below; in your opinion. Also, are there more options available besides the 3 I've named?

1. StashAway Simple
2. Versa
3. TnG GO+

since Versa is buying fund from affin hwang enchanced deposit fund, what are the differences here if I buy the fund directly from affin hwang enchanced deposit fund instead of going through versa?

can i assume both versa and affin hwang enchanced deposit fund offer the SAME return and also both charge the same expense in term of management fees and trustee fees?

i do know affin hwang enhanced deposit fund incur higher initial deposit but that is not my main concern here, i am more interested in the return

Other than affin hwang enhanced deposit fund, which other fund house in malaysia that offers the highest MMF return?  I heard about public bank e-cash deposit fund that is used to  offer 3% per annum but not sure it is still true now.

FSM's RHB CMF2 only saw passing mention in first page of this thread. So it's worse than the 3 mentioned above? I am using RHB CMF2 for now, but thinking of switching if there are other better options.

i deposit first time to Versa this morning after i registered with them, it has been more than 9 hours, it is still not yet confirmed, how long it will take for versa to confirm my deposit?

In my opinion: Versa ask few private and confidential questions during new account  opening.  To avoid money laundering, I think deposit only from bank account with same name is enough.  Versa ask the name of the company we work, job title and salary. Due to this few questions, I decided NOT to migrate my money market fund from FSM to Versa.

are all money market fund having the 'almost same' rate?

I have received multiple spam messages in whatsapp, following registering for Versa via RPlus, has anyone else receives similar spams?

Direct would the data would be available to Versa only even AHAM have no access to it as it is a separate portfolio
Free gifts entice to sell your data to marketing agency hence RP is pure marketing agency which will cross sell to all its clients 

Bruh Frank debit card annual fee is only RM8.

Go+ rate is 1.4%, Frank is 2.4% annually, with RM1000 initial deposit with no subsequent deposit, GO+ you get RM14 interest, Frank you get RM24 in interest, deduct the RM8 annually you also untung 0.2% already la, you deposit more emergency fund into Frank that RM8 is peanuts.

Sometimes you have to think of economies at scale, don't be penny wise pound foolish. My application to OCBC Frank was very smooth, register online, walk into branch instant get debit card, the banker explain everything in detail. Just they will also hardsell you insurance at the same time so beware. You can try apply at Subang USJ branch if it's convenient for you.

I agree with you. Thank you.

Meanwhile, I have some short term funds holding in savings account, too short for monthly FDs, while too long for daily 0.1%p.a. of the savings account. Yet I need it to stay liquid to a maximum of 3 days +/-. Just wondering if there's anything I can squeeze out of it.

Have been eyeing on Frank since last year, but with MCO and time constraints, it has been on hold till now. With the recent launch of Go+, it gave me a thought to look into MMF as an option, so I'm looking around and learning.

Versa:
I'm thinking it's a good time to deposit fresh funds today, since Nav may be lower due to payout.

But is it better to do it before cut off? (possible book today's Nav)

Or after cut off? (to get overnight interest for weekends and possibly Nav for Monday)