Touch ‘n Go eWallet’s GO+ has also raised its interest rate!
With the National Bank announcing an increase in the Overnight Policy Rate (OPR) on September 8, various financial products in the country have also announced rate hikes, and the Touch ‘n Go eWallet GO+ payout has also increased.
GO+ is the micro-investment function of Touch ‘n Go eWallet, and the money that users keep in GO+ is invested in Principal e-Cash Fund (Class A). From the dividend report of Principal e-Cash Fund (Class A), the dividend payout on September 9 and 10 was 2.21%.
The payout of GO+ is about the same as the interest rate of a one-month time deposit. The one-month time deposit rate after the hike is about 2.20% to 2.25% p.a.
Here’s how to calculate the GO+ payout, it’s very simple, let’s take the payout of 2.21%p.a. and a deposit of RM1,000 as an example.
RM1,000 X 2.21% = RM22.10
RM22.10 / 365 days = RM0.0605
The interest rate is not too attractive but for those who use Touch ‘n Go eWallet to spend money, pay toll and parking fees, it is a good idea to keep your money in Touch ‘n Go eWallet. The eWallet can be used not only for spending, but also to earn interest, which is a win-win situation.
