The payout of Touch ‘n Go eWallet GO+ has increased to 1.91% since Bank Negara announced the rate hike, and a further increase to over 2.00% is not ruled out in the coming weeks.
After Bank Negara announced an increase in the overnight policy rate (OPR) on July 6, interest rates on various financial products were raised, and the payout on Touch ‘n Go eWallet GO+ soared to 1.91%.
GO+ is the micro-investment function of Touch ‘n Go eWallet, and the money that users keep in GO+ will be invested in Principal e-Cash Fund (Class A). Looking at the payout report for Principal e-Cash Fund (Class A), the payout was 1.80% on July 5 and 6, and it started to soar to 1.91% on July 7 and 8.
In a few weeks, GO+’s payout will spike again to 2.00%, which is the same as the interest rate on a one-month time deposit in a bank.
The calculation of GO+ dividend payout is very simple, here is an example of a 1.91% p.a. dividend payout and a deposit of RM1,000.
RM1,000 X 1.91% = RM19.10
RM19.10 / 365 days = RM0.0523
The interest rate is not too attractive, but for those who frequently use Touch ‘n Go eWallet to spend money, pay toll and parking fees, keeping the money in Touch ‘n Go The eWallet not only can be used to spend, but also can get interest, which is a win-win situation.
