Touch ‘n Go eWallet GO+ paid out interest of up to 1.84% p.a. in June, an interest rate comparable to that of a regular time deposit.
GO+ is a small investment feature of Touch ‘n Go eWallet. Deposits to GO+ are invested in the Principal e-Cash Fund (Class A).
According to the official website of the Principal e-Cash Fund (Class A), the interest rate for the entire month of June ranges from 1.73% p.a. to 1.84% p.a. Since the interest rate increase by the National Bank on May 11, the interest rate paid by GO+ has also increased to a maximum of 1.84% p.a., which is comparable to the interest rate paid by banks for a 1-month regular time deposit, which is only 1.75% p.a.
If the National Bank announces another interest rate hike in July, the interest rate paid out by GO+ will definitely increase again and could reach 2.00% p.a. by then. If the National Bank announces a 0.50% interest rate hike in July, then the interest rate paid out by GO+ could be as high as 2.25% p.a.
Here’s an example of depositing RM1,000 in GO+, at 1.84% p.a., you would get about RM1.533 a month. at 2.00% p.a., you would get about RM1.67 a month. At 2.25% p.a. interest, you can get RM1.875 a month.
GO+’s micro-investment feature is suitable for users who often use Touch ‘n Go eWallet to spend money and enjoy interest while putting money in Touch ‘n Go eWallet.
Let’s take a look at the comparison between Touch ‘n Go ewallet GO+ and time deposit.
Touch ‘n Go eWallet GO+ is more flexible, meaning that you can withdraw your money at any time without losing interest. A time deposit loses interest when it is withdrawn before it expires. If your funds are needed for a short period of time (within a few weeks or 1 month), then choosing Touch ‘n Go eWallet GO+ is the best choice because the minimum deposit period for time deposits is 1 month.
Another major difference between these two investment programs is that the minimum starting amount for Touch ‘n Go eWallet GO+ is RM10, while the minimum starting amount for a normal time deposit is RM1,000 to RM5,000. eWallet GO+ is a good choice.
* Purely for sharing, no investment buying or selling advice.
