This is not really info, it's a person's view. If basic bank deposits in CASA and FD are super safe (which they are except very rare situations), you need to think why it even need to be insured by PIDM in the first place.

When banks go bankrupt, you get your money back.
If this one goes bankrupt, you don't.
It's that simple.

Neither are likely scenarios, and most people aren't bothered about it, but you just need to understand the exact risk and decide for yourself if it's for you or not.

People who want high returns don't care about protecting their capital. High risk = high rewards/high losses.

Tbh I like the app more, the website is okay but I just prefer apps as it’s more convenient (my personal opinion btw)

updatd after 430pm

it is based on the balance amount
not your deposit amount

Once you exceeds the RM30k balance you won't get the 4% on the 1st sen (RM30,000.01).

I did not follow what you and him are actually discussing.

I just remembered this post 1090 when Kdi Save gives 3% pa for the 1st 200k.
Thus hope the below post is relevant to your discussion.

give it a trial , i just deposited RM29k+ top up my Versa Cash to make in near RM30k

in terms of speed of deposit and withdrawal, Versa cant fight KDI
interest calculation also cant fight KDi's very transparent interest that can easily be checked.

Now the most important thing is
1)how fast deposited money is captured and starts earning interest in Versa and
2)how fast we get back after click withdrawal in Versa

Assuming deposit in lose 2-3 days, withdrawal out lose 2-3 days compared to KDI
total loss days = 6,

Versa offering 4% first RM30k also cant beat KDI 3.5%

Transfer from your 1st RM30k from KDI to Versa, you rugi

extra earned from RM30k x 0.5% in 30D =RM12.33
6Days loss of interest in KDI =RM30k x 3.49% x6/365 =RM17.21

Even if you have RM80k in KDI and you transfer the excess RM30k out to Versa still rugi
as you sacrifice RM14.74 for 6 days interest loss.

So Versa you wanna beat KDI 3.5% make sure you dont take too long, max in and out total 4 days still can consider
if 6 days sorry lah no point we move out from KDi





may not be applicable , in any case the difference is tiny, insignificant

if u read the quote he replied, they were discussing about versa
ya, in KDI thread...

nah...effective 3 October 2022, the EAR for first 50k will be 3.5%
in #1786

Nice tips. I think too much trouble for too little money. Just leave it in KDI while waiting for OPR naik now. Hopefully next week got more Bank join action. HLB still no new promo yet.

yeah interest paid monthly but it will accrued daily depending on how many days your money stayed in Versa.

New money from elsewhere can try versa
If WD from Kdi to Versa not Worth it methinks
WD lose 1 day put in versa lose 2days..

just some random Q

do u guyz that invest in save, no scared they take the money and run ka?

i personally also got money in save account for many month aready....sometimes it got me thinking jer

This is Kenanga la, not ah long

it is regulated by SC

hahaha

seriously, if this level of paranoia, dont use KDI or Versa lor.

put in banks or fixed deposit with PIDM. but then argument would be banks or financial system could collapse too.

park $$ in milo tins, also can get spoilt or stolen or forgotten, not to mention no profits earned.

you see, nowhere is 100% guaranteed safe!


utilize them based on your risk appetite, whicever comfortable to you ---> have good night sleep and waking up smiling thinking of profit/interest earned.

if they got accrued it daily, then its good...

TBH I always enjoy seeing millionaires debating about moving RM30k around and discussing the rm5 difference over several months between two options.

Sometimes a Grab driver deliver food to us in the rain also most people would give a rm5 tip to them already. That's also about the hourly parking rate at some KL parking lots... 😅

The numbers are good to know, but it is hardly life changing.

PS: Anyway, I maxxed out my funds in Versa and KDI too...

You are missing the main point of the post.

It was meant to say think first before act.
(worth it or not to jump from 3.5% to 4.0%)

You think it was meant to tell you go Versa earn few dollar extra?
Wake up bro, read again.

Just like you must also think first before open your mouth.

How can you compare giving tips to an action meant to make money?
People switch from KDi to Versa for fun?

Your maths too good la: giving tips same as switching fund
close 2 eyes no need to check and pray for the best......

Deleted. Not worth it... 😊

This post has been edited by gooroojee: Nov 2 2022, 01:05 AM

common sense la,
between 3.5% and 4% how BIG difference you expect?
ridiculous if you think switch from 3.5% to 4% can earn alot more.

you are still missing the point!

whole message is:

WORTH IT OR NOT
for those thinking to switch from KDI to Versa,..

dont just look a dollar and sen numbers only without understanding the message.

MESSAGE IS: may not be worth the trouble to switch!

This post has been edited by guy3288: Nov 2 2022, 01:12 AM