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Interest on a 1-month fixed deposit is slightly lower than that on TNG eWallet GO+.

04/08/2022

Compared to a one-month FD, TNG eWallet GO+ offers a little greater IR.

The Touch ‘n Go eWallet GO+ dividend distribution exceeded the 2.00 percent annual threshold and peaked at 2.06 percent annually, which is comparable to the interest rate on a 1-month regular fixed deposit.

A new feature called GO+ was introduced by Touch ‘n Go eWallet. Users can benefit from daily deposit interest by simply making a deposit into the Touch ‘n Go eWallet’s GO+. Every deposit made using GO+ will be put into the Principal e-Cash Fund (Class A).

The Principal e-Cash Fund (Class A) official’s website states that the interest rate for the entire month of July fluctuated from 1.80 percent per year to 2.06 percent per annum.

The interest paid by GO+ has gradually climbed since the National Bank raised interest rates on July 6, reaching a maximum of 2.06% p.a., which is comparable to the interest on the bank’s 1-month ordinary fixed deposit and the bank’s 1-month ordinary fixed deposit. Additionally, deposits range from 1.95 percent to 2.00 percent p.a.

In September, it is largely believed that Bank Negara would boost interest rates again. If this prediction comes to pass, GO+’s interest rate will rise and might eventually reach 2.25 percent per year.

Here is an illustration of how to deposit RM 2,000 in GO+. The amount of interest you could receive in a month at a rate of 2.06% p.a. is around RM3.43. The interest you may receive every month at 2.25 percent annual interest would be approximately RM3.75 per month.

*Only for sharing; no financial guidance.

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