Buying directly with ASNB only - there's a sales charge of 2%. There's also annual management fees of 1% p.a. In terms of fees, I think Raiz is cheaper

Its actually looks like its cheaper to buy ASNB funds via Raiz, esp if you have more than 6k. I have the ASNB app, but the fees are still very significant. For example, if you want to invest in the more conservative ASNB Sara funds, there is a sales charge of 1.5% for each transaction and an annual management fee of 1%. If you invested 6k as a lump sum at the start of the year, you'll give away a total of 2.5% of that 6k by the end of the year.

Raiz appears to only have an annual management fee of just 0.3% and no sales charges. So it looks like a steal! No switching fees also.

I dont see the sales charges in the website so i assumed don't have to pay. After all, the app is a JV with PNB as well.

Hopefully someone who has used the app can enlighten us.

No service charge. No withdrawal fee. Straight to the point RM1.50 fee per month below 6k and 0.3% per annum above 6k

Also withdrawal takes few days so there could be difference in the final withdrawal amount compared to the value you see in the app on the day you withdraw

No sales charges

Can confirm too; this response from Raiz after I keep prodding them for an answer.

Rest assured that the only fees our users will be charge are the account fees at the end of the month, there is no deposit, sales, or withdrawal charge whatsoever. This is what makes Raiz beginner-friendly, we will handle most of the formalities and cost making it easy to invest for our users.

Account got verified this morning, made a request for deposit of RM100 & they already accepted it. Now to see turnaround in investing it. Looks good, 6K dump ahoy. I had an extremely unpleasant & embarrassing experience going to the bank to buy ASNB before. The bank clerk who attended to me did not even put in any effort to enlighten carefully the steps required to get started with ASNB; she was just contented to making me frustrated so that she doesn't wanna file the paperwork. 

I emailed them to confirm their fees and what ASNB funds they invest in. Here's their response



Seems like a steal to me. I'm going to redeem my current ASNB VP holdings sometime this week and put them in here instead.

I gather because my 1st attempt was trying to buy the limited quantity ASM funds. I'm a self-taught noob, don't know cannot open account without buying units. So I said okay lo, how about buying equity funds? Can you recommend how to get started? She's like eh adik pergi baca sendiri la. Ini nak beli ke tak, bukan untuk Q&A. I got fed-up & left LOL.

The wealth management industry in Malaysia is super-ripe for disruption to take this unpleasant experiences out of the way. BTW, i dumped RM6k in already. Let's see returns after 1 month.