I'm still not able to figure out though, how to get the payout amount of +RM 0.77. I've tried multiple angles to calculate it, but just not abit to get, including the formula they've given in their FAQ page. If you manage to figure out, please share.

Because I made RM 1000 deposit as well, but on the 13th. However, my payout amount is similar to yours +RM 0.77.

Anyway, for rough projections of gains, for now, I'm using the estimate of 2.018%p.a. since I'm not sure of the variable.

I'm confusing too.
How did you get the figure 2.018%?

Embarrassing to say, so take it heavily salted.

I've yet to make sense of the +RM 0.77. Meanwhile, I need a figure to move on. So I resorted to Occam's razor. It's meant to project a ballpark "available balance" figure.  Also, it seems to fall within the numbers mentioned here and also in the app. Will reevaluate again in the near future when I have more data.

I'm still not able to figure out though, how to get the payout amount of +RM 0.77. I've tried multiple angles to calculate it, but just not abit to get, including the formula they've given in their FAQ page. If you manage to figure out, please share.

Because I made RM 1000 deposit as well, but on the 13th. However, my payout amount is similar to yours +RM 0.77.

Anyway, for rough projections of gains, for now, I'm using the estimate of 2.018%p.a. since I'm not sure of the variable.

This time the distribution was RM 0.0009 per unit, you multiple the units you had before the payout, you should get RM 0.77

You're right.. It does come out to be RM 0.77..thank you!

Meaning I've been looking at it with the wrong angle. "payout" amount depends on the units I have at the time.

Then what about the interest that versa is talking about?

Well.. Maybe it will be different if I have days prior to payout and since I only deposit on the 13th, most likely it's considered 0 days.

In fact the way you're going about by doing withdrawal before dividend payout, you cannot pakai the idea of "interest"

How MMF works:

1) When you "deposit" money into Versa, you buy units at the net asset value (NAV) for the day the units are booked for you
2) As you hold into those units, profits slowly increase, which will reflect in NAV of each unit which will increase as profits are calculated into the NAV
3) On the day of distribution, the fund will deduct the profits accrued from NAV and pay out in the form of cash (dividend) which Versa auto reinvests as units. The amount they pay is depending on the number of units you hold on dividend calculation day (example: if you hold 10000 units on distribution calculation date, and distribution is 0.0009 sen per unit, you get 0.0009 x 10000 = 9 sen). So your NAV per unit goes down, but the number of units go up, so you've profited in terms of number of units (and why your balance won't exactly change).
4) If, however, you deposit and then withdraw shortly after you buy units BEFORE dividend payout date, what happens is that usually you actually sell your units off at a higher NAV, so you effectively "earn interest" because you bought lower and sell higher. If you want to know if you've earned interest, you can look at the NAV price booked during your deposit processing vs the NAV price when your withdrawal is processed.
5) The every two week dividend will only pay based on number of units you have on dividend day, but if you withdraw in the case of #4 you essentially got your dividend/profit early.

Hope that makes sense to you.

Yes, you've been looking at it the wrong angle.

Your misunderstanding is because you're stuck on the idea of "interest" in the way that it works with savings account/current account/fixed deposit or hybrid accounts like Frank, where it's calculated on monthly average balance/yearly average balance.

Versa/StashAway Simple etc. DO NOT work the same way because you're dealing with money market funds which to end user works like Unit Trust/Mutual Funds, where earnings are paid in the form of distribution based on number of units.

refer back again to my post here, item #4 and #5:

Thanks for the explanation. I'm fine with the way it's supposed to work. I'm stuck because even Versa keeps using the term "interest", even in their FAQ. Such as this screenshot I took :

any Versa promo or referral code around?

any Versa promo or referral code around?

any Versa promo or referral code around?

hello, new to this... some questions:
1) asking... versa and SA Simple, any other alternative?
2) for current month, whats the interest rate offered?

hello, new to this... some questions:
1) asking... versa and SA Simple, any other alternative?
2) for current month, whats the interest rate offered?

TnGO+ today is 1.95% will it able to sustain this long?