RM 0.01 per RM 100 only?

I thought they're going to compensate generously due to incompetency of processing as fast as they could; i.e at the rate of RM 1 per RM 100.

This post has been edited by GrumpyNooby: Feb 21 2021, 06:42 PM

Nope . I received overnight interest when posit on weekday. Just that not a lot compare to weekend

Better than SA which don’t have

No laaaa, I meant that theoretically if you deposit it just before dividends declare, then withdraw only a few days later, you MIGHT make a loss. In practice it's incredibly difficult to actually get -ve, will only happen if the MMF is underperforming for whatever reason. Like a recent deposit on Versa of mine still gets net +ve gains even though I deposit one day before dividend declare.

Because their interest calculate daily if you withdraw and deposit like that you potentially lose the interest you could get during those prossessing days. Only Versa to my knowledge calculates those processing days into the dividend they pay you LOL.

If want to be that kind of maximise interest then better to use conditional high yield savings account LOL, less hassle and instant processing time

This post has been edited by DragonReine: Feb 21 2021, 07:00 PM

Thanks, already opened account with Versa on mobile Apps, Versa not accessible via Website?

Unlike Stashaway, Versa cannot make deposit straight away, must wait so many days!

Besides deposit Versa via FPX, can we deposit via JOMPAy like we can do for Stashaway?

No website available. Unfortunately.
I use a separate phone for banking.

Can. Once account approved. Today Sunday. Wait for account to be approved (check your email). If not approved yet, of course cannot. I had to wait for my account to be approved.

Only FPX available.

This is a misunderstanding of how Versa and SA record their deposit. In practice their investing into MMF is the same number of days. Quoting my previous post on this:

Versa should follow SA accept Jompay to widen the nett for money

Useful info even though not exactly related to what i ranted .

Useful fact -say you deposit RM$$$ on the same day for both SA and Versa, your deposit will be reflected on SA few days earlier than Versa.

However actual investment takes about the same number of days for both SA or Versa.
Use example do FPX RM1000 each to SA and Versa on Monday 22.2.21, and then withdraw same day 2 months later, assuming return for Versa and SA same rate, both profit from SA and Versa would be about the same, correct?



earlier I was saying SA very easy and convenient -open account, instantly account approved, and SA instantly can accept your deposits , FPX or Jompay.

Versa on the other hand, wont allow you to make deposit straight away, need many extra steps , submit IC, do selfie, asking for OTP and must wait for them to review, take few days it warned.

Any idea why Stashaway is like cincai cincai can open account, no need submit IC no need selfie, no need wait for approval
?SA no tight security, very eager to get people open account?
whereas Versa rather strict checking front and back before allow us to open account??

It is part of malaysia sc policy. I don't see it is a problem on doing this when open an account.
You only do once. Not do it many times
On deposit, don't see it a problem on using fpx. Very fast money deposit in and process buying complete within a day.

Didn’t you post it on the Friday?

I think overnight weekend interest are factor in when you’re deposit in the weekend while weekdays interest are being added into the units instead

Will know when next month will try do to rotation then on my funds will roughly know on the calculation then

But expect to be about rm1 to rm1000 deposit per month ratio on monthly basis on just interest only

Bonus payout calculation is possibly another rm0.23 to rm1000 per month o let’s whether towards mid year end more deposits coming in

This post has been edited by xander83: Feb 22 2021, 05:50 AM

Wow, got bonus payout somemore!
What is this bonus payout? What is the rate in term of per annum?
Versa got a lot of hidden extra handouts. Not bad.

Everybody 2 weeks is the bonus payout as the fund uses it as a tool to rebalance the unit and price for it

The rate should be around 0.3 to 0.5 per annum indicative based on the current market price trend

So the actual fund it is performing on 1.9% pa on their pricing units

Will know after next month when q1 is done whether it will exceed 2% for 2021

so StashAway Simple is better? reported as 2.4% pa.

Low interest rates attracts more players into the money market

ETALING JAYA: The prevailing low interest rates have attracted more money market funds (MMFs) into the domestic market.

Based on the Lipper data, the total size of these funds currently stands at RM110bil. This represents less than 10% of the total deposits market.

The time is ripe according to analysts for such funds to gain prominence in the market as MMFs provide higher returns than deposit rates amid the Covid-19.

They expect the key benchmark interest rate – the overnight policy rate (OPR) which determines the cost of borrowings – to be cut by at least 25 basis points this year, hence a lower deposit rate. This augurs well for the pick up of these funds.

Among some of the players making headway in the MMF space are Versa, Stashaway and Touch ‘n Go. More are joining the bandwagon, one analyst noted.

https://www.thestar.com.my/business/busines...he-money-market

Simple is fixed indicative 2.4% but Versa is better in terms of liquidity as you when you withdraw is next businesses day

Reported doesn’t mean guaranteed as it is indicative rate only

Wait for TnG with CGS CIMB MMF soon then we will know whether it can hit 2.5% more competition better for us consumers

Not with Principal Asset Management?

Now is SA simple vs Versa. Let's see who will win.

Unless they going for Shariah based then Principal Islamic MMF

If conventional would be CGS CIMB

Rumormill is saying launching on March 8 so keeps your eye so peeled

But why ppl might still using SA.

If this is better?

it really up to individual. I've tested SA and Versa. Now moved from SA and use only versa. Except ETF left on SA.
each people got own preference.