Which cash management platform is the best?
Many people think of bank fixed deposits when they think of savings platforms. In fact, aside from bank fixed deposits, Malaysia has at least four cash management platforms that can add value to your money.
Savings projects are available through KDI, Versa, StashAway, and GO+, and these platforms have obtained SC licences to carry out cash management projects in Malaysia.
Notice! The information is provided for reference purposes only and does not constitute buying and selling or investment advice.
1. KDI Save
KDI Save provides savings yields of up to 3.50% per year. Savings rate of 3.50% per annum for the first RM50,000 deposit and 3.00% per annum for savings of RM50,001 to RM200,000. For savings of more than RM200,000, you can earn 2.50% p.a.
Pacific Trustees Bhd will be in charge of the assets in KDI Save. Pacific Trustees Bhd is a trustee licenced in South Carolina.
KDI also offers the KDI Invest ETF. If you want to join KDI Invest, enter the promotional code 118145 when registering an account.
2. Versa Cash
Versa Cash provides savings yields of up to 4.00% per annum. Savings rate of 4.00% p.a. for the first RM30,000 deposit and 3.45% p.a. for deposits above RM30,000 (up to December 2022). Savings yield of 4% per year is available until January 31, 2023.
Versa Cash assets are all managed by AHAM Asset Management (previously known as Affin Hwang Asset Management), which is also licenced by SC.
If you want to join Versa, use the promotional code UCRJL6FD.
3. StashAway Easy
According to the official website of StashAway Simple, users can save 3.10% p.a. The rate of return on StashAway Simple will fluctuate in accordance with market conditions.
4. TNG eWallet GO+
GO+ will invest all user deposits into Principal e-Cash Fund (Class A), and the most recent rate of return distributed is 3.41% to 3.45%p.a., with a previous high of more than 3.50%p.a. If Bank Negara raises interest rates again in January, the yield on GO+ will undoubtedly rise further.
