Touch ‘n Go eWallet’s GO+ paid out a maximum of 2.13% p.a. in August, which is higher than a 1-month time deposit at a bank.
GO+ is a small investment feature launched under Touch ‘n Go eWallet. GO+ deposits are invested in the Principal e-Cash Fund (Class A).
According to the official website of Principal e-Cash Fund (Class A), the interest rate for the whole month of August ranges from 2.02% p.a. to 2.13% p.a.. This interest rate is higher than the interest rate of a 1-month regular time deposit in a bank, which is only 1.95% to 2.00% p.a.
The National Bank will announce the latest Overnight Policy Rate (OPR) on September 8. If the National Bank announces a rate hike on September 8, then GO+ yields will follow suit. By then the GO+ yield could reach 2.25% p.a.
Here’s an example of depositing RM1,000, at a GO+ yield of 2.10%p.a., you can get RM1.75 for 1 month, and at 2.25%p.a., you can get RM1.875 for 1 month.
There is not much difference in the interest rate for small investments, but if you deposit RM8,000 in GO+, you will get RM14 per month or RM0.46 per day at 2.10% p.a. At 2.25% p.a., you will get RM15 per month or RM0.50 per day.
Touch ‘n Go eWallet’s GO+ can be a platform for temporary mooring funds.
*For reference only, no trading advice.
