Quick Comparison on Popular MMF Platforms (Go+, Go Invest, KDI Save, Versa, StashAway, FSMOne)

[thenarrowpath]

Salam sejahtera uncle aunties, I've done a quick comparison on popular MMF platforms I learned from r/MalaysianPF, sharing it cuz I thought it might be useful information.

Company
Touch and Go
Kenanga
FSMOne
Touch and Go
Versa
Versa
Stashaway

Fund Name
Go+
KDI Save
Cash Management Fund
Go Invest
Versa Cash
Versa Cash-i
StashAway Simple

Average Base Interest Rate
3.50%
Tier-1: 3.5% Tier-2: 3.0% Tier-3: 2.5%
3.50% ~ 3.70%
3.28%
3.74%
2.82%
3.37%

Funds Cap (RM)
9,500
Tier 1: 0 ~ 50,000 Tier 2: 50,001 ~ 200,000 Tier 3: 200,001 ~ Unlimited
Unlimited
Unlimited
Unlimited
Unlimited
Unlimited

Cashout Delay (Business Days)
Instant
2
2
2
1 (official), 2++ (user reported)
0
4

Minimum Balance
0
100
0
0
0
0
0

Interest Payout Frequency
Daily
Daily
Daily
Monthly
Monthly
Monthly
Monthly

Underlying Fund
Principal e-Cash Fund (Class A)
Unknown
RHB Cash Management Fund 2
Principal Islamic Money Market Fund (Class D)
Affin Hwang Enhanced Deposit Fund
Affin Hwang Aiiman Enhanced i-Profit Fund
Eastspring Investments Islamic Income Fund

Remarks
Instant liquidity, but keep in mind about the RM 9,500 cap.
Minimum balance = RM100, if they reduce interest rate, you will always have RM100 stuck with them.
No gimmick spotted so far, what you see is what you get (3.5% ~ 3.7%). No promo/tiered interest rates. App interface might be confusing, takes time to get used to.
Actual rate ( 3.28% ) = Projected rate (3.70%) - Fees (0.42%)
Keep in mind promo rate (4%) for first RM30,000 only lasts for limited time. Past that point, it will return to fluctuating rate.
Keep in mind promo rate (4%) for first RM30,000 only lasts for limited time. Past that point, it will return to fluctuating rate.
Rebate is distributed quarterly (every 3 months) to make up the projected 4.10% interest rate. It is also within their right to announce a lower projected rate last minute, as stated in T&C.

Disclaimer:

1. I have zero expertise in finance, please point out if I got any numbers wrongly.
2. No affiliation to any of the platforms, not going to suggest which platform is the best.
3. Not trying to promote MMF over other options, I understand it will lose against inflation.

Source - already tried to do fact checking instead of just copy pasting from the article

 

[thenarrowpath]

But anyhow, personally I stick to FSMOne and TnG Go+ for reasons below:

1. Daily payout.
2. No bs approach (rebates / advertising non-actual rate / minimum balance).
3. Don't need to chase around promotions.

 

[ursus1985]

@thenarrowpath You're a Chad! Thanks for doing the leg work and then sharing!

 

[thenarrowpath]

@ursus1985 Ye, no sugarcoating, just plain hard facts for the people

 

[kimberl321]

@thenarrowpath I also pumping TNG Go+. Can see instant money and somehow Versa claim 4% but been finding that the interest $$ accumulated in my acct seem lower than TNG Go+

Withdrawal wise, I withdrew from TNG and Versa on same day (Friday noon) at almost same time (cause want to pump into ASM), both claim need up to 2 working days to return my money. But I got my cash from TNG on Saturday and got my cash back from Versa following Tuesday (Dam long waiting time).

So I am now in ASM and TNG. Versa KIV for now.

I regret pumping quite abit into ASM actually cause withdrawal seem like a pain.

 

[thenarrowpath]

@kimberl321 You're on point about asm, troublesome/limited withdrawal plus uncertain return makes it a no-go for me.

Versa seems to be falsely advertising on cash out delay, among many user feedbacks.

For Go Plus, you could make it an instant withdrawal by first cashing out to ewallet balance, then duit now transfer to your bank account.

 

[kimberlys]

@thenarrowpath Care to teach me how to invest in FSMOne. Very confusing app.

 

[receivedgrace]

@thenarrowpath check out Rize https://www.rize.com.my/

New digital bank in Malaysia currently offering 5% interest to the first 5k and then 4% to remaining fund. It's a saving account too so the cashout is instant. Not sure how long this interest will last tho.

 

[robster1981]

@receivedgrace they charge transfer fee right when you transfer money out from the account

 

[receivedgrace]

@robster1981 Nope. It's a savings account like any other bank. Transfer out using DuitNow instant transfer

 

[robster1981]

@receivedgrace i believe there is a fee of 50 cents if the transfer amount exceeds 5k. check in duitnow transfer section

https://www.rize.com.my/index.php/support#faq

 

[receivedgrace]

@robster1981 Its the same for every banks that use DuitNow as their local transfer (CIMB, for example) unless they waive it... Just don't transfer over 5k per transaction?

https://www.duitnow.my/Transfer/index.html

 

[lauren5]

@receivedgrace Just wondering if this digital bank is safe?
Since they don't have a physical branch in Malaysia, and I heard that their customer service is bad..

 

[receivedgrace]

@lauren5 No issues so far for me, so I'm yet to contact their customers services.

Bit too late now if you haven't registered yet. I'm guessing the interest rate is gonna be low once the promotion ends in December

 

[blogmehameha]

@thenarrowpath hmm Cashout delay seems off

For Kenanga around 1 or 2 business days (If request before the cutoff, the crediting happens on late evening same day)

Versa conventional (not the i) definitely longer than 1 business day

 

[thenarrowpath]

@blogmehameha Adjusted accordingly, saw another folk had his Versa withdrawal delayed by more than a week around raya period.

 

[lynq]

@thenarrowpath Useful chart.

Some edits though. Kdi is 1 business day.

If you withdraw on business day before their cutoff, you will get the money end of day, usually check after dinner, i can see my money in.

If after cutoff you will get next day (i dunno what time though, cause never tried)

 

[dazza_73]

@thenarrowpath Thank you for this

 

[thenarrowpath]

@dazza_73 Glad it helped

 

[shekinah33]

@thenarrowpath For me it's versa. Just consistently high. But there's a bit of promo juggling.