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