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.

Promo FD rates are inconsistent as it depends on each bank whether they need to shore up capital which is why there disadvantage because the returns are inconsistent couple with locked up period illiquid capital

You better off buying MMF for its liquidity period 4 days in a week coupled with at least 10% higher than OPR anytime

So far Versa has the best in terms of functionality liquidity followed by Simple and Pecef and the worse of the worse of Go+ which load of rubbish when you can get OPR rates from Frank

Pecef it is from Public Mutual but not sure of its liquidity because not many here are using it

It is the latest competitor to Versa but coming from Public Group should not be that fantastic

Rather put in the money by its shares or holding company which gives solid dividend returns

Promo FDs usually only for certain tenure and require a fairly big sum of investment of at least several thousand "fresh funds" (aka money that wasn't initially deposited with that bank). Some only give that promo rate if you buy investment/insurance products which means you need even bigger starting capital. Even regular FD certificate needs at least RM1k usually. Versa/Simple etc. are designed for people who

1) don't have much capital (since minimum deposit is RM1 haha)
2) want liquidity and don't want to get locked in FD tenures

So target audience is different.

Both have their uses but obviously if you have the financial capability and don't mind that lock in period, please invest in promo FDs 🤣

I want to add another point to DragonReine input
1) No promo rates can beat MMF rates for shirt term say 1-3 months. For 1 year yes.

For me the point of MMF is simple. I use it as short term parking place/until next bill is due. This is so my cash won't be completely rotting inside the bank.

Pm me thanks

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?

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

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?

Even with high OPR it's good. I remember I use to get 3.7-3.8% with MMF.

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.

Last time I was using Phillip Money Market fund. It was best fund on the market before Versa came along.

It give same day withdrawal if withdraw to Maybank account before 11am and rates were not bad. Nowadays rates not so good.

Last time I was using Phillip Money Market fund. It was best fund on the market before Versa came along.

It give same day withdrawal if withdraw to Maybank account before 11am and rates were not bad. Nowadays rates not so good.

why u go for versa not go direct to the affin hwang platform allocate to buy the MMF?

Promo FD rates are inconsistent as it depends on each bank whether they need to shore up capital which is why there disadvantage because the returns are inconsistent couple with locked up period illiquid capital

You better off buying MMF for its liquidity period 4 days in a week coupled with at least 10% higher than OPR anytime

So far Versa has the best in terms of functionality liquidity followed by Simple and Pecef and the worse of the worse of Go+ which load of rubbish when you can get OPR rates from Frank

Pecef it is from Public Mutual but not sure of its liquidity because not many here are using it

It is the latest competitor to Versa but coming from Public Group should not be that fantastic

Rather put in the money by its shares or holding company which gives solid dividend returns

1. Is that. No requirement.
2. You find me a high interest savings account now that can beat MMF returns with say fulfilled 3/4 criteria.

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

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.

Their interest have always been lower than us. Cannot compare unless out interest rate the same.
Need to wait one year to get 2.85%p.a by topping up every year and cannot withdraw.

High interest savings account need you to spend to get those interest. I am not willing to spend to get the interest.

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

Go+ has the best liquidity among all the money market funds out there currently. Instant withdrawal to TNG EWallet even on weekends. It takes longer though if you want to transfer to bank account.
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.

Their interest have always been lower than us. Cannot compare unless out interest rate the same.
Need to wait one year to get 2.85%p.a by topping up every year and cannot withdraw.

High interest savings account need you to spend to get those interest. I am not willing to spend to get the interest.

Instant withdrawal to ewallet is not liquid because ewallet is not actual currency hence it is defeat the purpose of money which supposed to be universal exchange and interchangeable as a currency because it is failed unless actual ewallet cash out function is implemented

.......
It still does not change the fact that Go+ has the best liquidity among the money market funds out there. The time taken to withdraw the money to bank account is similar for both Go+ & Versa. Go+ has the added advantage of instant withdrawal to e-wallet which Versa does not have. Until Versa manage to successfully implement its planned prepaid card linked to its money market fund, nothing can beat Go+ in terms of liquidity for now.

Thanks for telling.
since last week, all I read was Go+ was rubbish...really made me 😳🤔🙄