Touch ‘n Go eWallet’s GO+ paid out a maximum of 2.43% p.a. in September, which is higher than a bank’s 1-month time deposit of 2.25%.
GO+ is a small investment feature launched under the 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 September ranges from 2.02% p.a. to 2.43% p.a.. This interest rate is higher than the interest rate for a 1-month ordinary time deposit in a bank, which is also only 2.20% to 2.25% p.a.
The National Bank will announce the latest Overnight Policy Rate (OPR) on November 3. If the National Bank announces a rate hike on November 3, then GO+ yields will follow suit. By that time, the GO+ yield could reach 2.60% p.a.
Here is an example of depositing RM1,000, at a GO+ yield of 2.43%p.a., you can get RM2.025 for 1 month. as for at 2.70%p.a., you can get RM2.167 for 1 month.
There is not much difference in the interest rate for small investments, but if you deposit RM8,000 in GO+, you can get RM16.20 per month or RM0.54 per day at 2.43% p.a. At 2.60% p.a., you can get RM17.33 per month or RM0.58 per day.
*For reference only, no buying or selling advice.