This snapshot is from the Raiz app?

You know what memorandum means right ?

Yeah. The fee is charged straight from my account in Raiz

Memorandum conundrum 🤣

Moratorium

Is your current investment below RM 6K ?

No, it's 6.3k. Hence, the fee is slightly higher than the minimum RM 1.50

From FAQ,
https://raiz.com.my/support/

How and when Raiz receive its fee?

A monthly account fee of RM1.50 is payable if your Raiz Investment Account has a value of less than RM6,000 at the end of each month. This fee is to cover the cost of administering your Raiz Investment Account. The fee will be charged to your debit card nominated under your Funding Account.

If your Raiz Investment Account has a value of RM6,000 and more at the end of the month, the fee payable is 0.30% per annum of the Raiz Investment Account balance which will be charged to your Raiz Investment Account.

The monthly account fee will be charged to you no later than 7th day of the following month.

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Just wonder why the 5 cents (Rm 1.55).
I just put total of RM110.00 for Raiz, let's just see how goes.

you asked "Just wonder why the 5 cents (Rm 1.55)."?

if you invested RM6198.....you will need to pay 0.3%pa fees
thus 6.198 x 0.3% / 12 = 1.55 ? thus why 5 cents instead of 1.50?

if you just put total of RM110.00 for Raiz,...it will be 1.50 per month as per stated in your post

This post has been edited by yklooi: Aug 14 2020, 10:03 AM

I invest RM100 in Raiz..
consider RM1.50 per month means I need to pay 1.5% monthly fee..
in total, 18% per year..how to get higher dividend to cover the cost and making profit??

Dividend is not Raiz nor your control.
It's under the hands of experienced god fund manager (PNB).

This post has been edited by GrumpyNooby: Aug 18 2020, 04:46 PM

Recently does anyone drop price?

Lol you are not going to get 18% return a year to cover the monthly fee.

Investing rm100 in Raiz is suicide. Either you switch to other platform that has no minimum fee, or you increase your investment to more than 6k or more.

so thats the break even benchmark eh?

that 6k is the start point where they will charge you differently...
see post 1

This post has been edited by MUM: Aug 19 2020, 11:26 AM

The lowest you can go is 0.3% if you invest more than 6k. 0.6% if you invest 3k. If you invest less than that then other platform like StashAway with 0.8% fee is better.

Also you do not have much choice with Raiz

came across this and just want to clarify your math:

you were referring to saving of only RM30 for one year, or every month you save RM30?
Because if you save RM30 every month, after one year the charge is equivalent to 5%.

Just pointing it out.

ok thanks. will bump up soon

if your target is solely Msian market, then you can continue DCA.

But Msian market has not performing well for quite some time, not a place to grow money in short-to-mid term IMO.

When will Raiz give the free RM 10 if I sign up under the referral code?

If need I can give me referral and try, not tested yet