In the dynamic world of investments, the allure of daily returns is compelling. Think of Touch ‘n Go GO+ where your funds will accrue daily interest or StashAway Simple, which works the same way. Speaking of investments, Moomoo has recently made its debut in Malaysia, bringing with it an exciting opportunity for free money. If this is up your alley, dive into the details below to discover what MooMoo has in store for you - and it's a lot!
The one thing in common for both of these products (Touch ‘n Go GO+ and StashAway Simple) is that their primary investment vehicle is Money Market Funds (MMFs). These funds invest in highly liquid, short-term instruments, such as treasury bills and commercial papers, offering investors a unique blend of low risk and high liquidity. What makes MMFs particularly appealing is their ability to provide returns on a daily basis, making them an excellent choice for investors seeking stability alongside immediate income.
Now that you have a better understanding of the mechanism behind these sorts of investments, let’s delve into the top 3 investments with daily returns, that are highly liquid and low-risk in Malaysia.
1. Touch n’ Go GO+
What Is Touch n’ Go GO+?
According to TNG, GO+ is a Touch ’n Go eWallet feature which allows the balance in your GO+ account to earn potential returns.
The underlying fund for GO+ is Principal e-Cash – a Shariah-compliant Money Market Fund managed by Principal Asset Management Berhad that aims to provide investors with liquidity and income.
However, do note that it is neither capital guaranteed nor capital protected by PIDM.
Benefits of Touch n’ Go GO+
Easy and fast to open the GO+ account
Seamlessly reload into your Touch ‘n Go eWallet balance via Quick Reload Payment
Earn daily returns
Make cash-out requests anytime you like
Daily Return Rate of Touch n’ Go GO+
3.45% p.a.
Minimum & Maximum Deposit for Touch n’ Go GO+
Minimum Deposit: RM10
Maximum Deposit: RM9,500
Fees Involved in Touch n’ Go GO+
Zero sales, cash-in or cash-out charges.
Management fee: Up to 0.45% per annum.
Trustee Fee: Up to 0.03% per annum.
The daily returns you receive are after all deductions of all fees and charges.
How To Open A Touch n’ Go GO+ Account?
Download the Touch n’ Go mobile application and open an account.
Click on the Upgrade Now icon in Touch 'n Go eWallet.
Complete account verification (Submit your ID and personal details)
Update your personal details on Touch 'n Go eWallet.
Receive verification that your upgrade is successful, and begin to Cash In to GO+.
2. Versa Save (Versa Cash/Versa Cash-i)
What Is Versa Save?
According to Versa, Versa Cash and Versa Cash-i (Syariah-compliant fund) are their low-risk savings funds. The funds are strategically allocated to provide competitive returns on par with Fixed Deposits, with the freedom to cash out anytime.
Versa Cash invests in a specific Money Market Fund called AHAM Enhanced Deposit Fund which only invests in low-risk assets – short-term deposits in multiple Malaysian banks.
Unlike Fixed Deposits which only offer basic interest, Versa Cash offers interest that is compounded daily. You can also withdraw anytime with all the interest earned and with no penalties!
However, do note that the fund is not protected by PIDM but is regulated by the Securities Commission Malaysia.
Benefits of Versa Save (Versa Cash/Versa Cash-i)
No lock-in periods: Access your savings anytime with the flexibility to cash in and out without penalties.
Low and transparent fees: Enjoy zero fees with no hidden charges.
Competitive returns: Expect returns that are on par if not more than Fixed Deposits rates in the market.
Daily Return Rate of Versa Save
Versa Cash: 3.82% p.a.
Versa Cash-i: 3.28% p.a.
Currently, they are offering a net return rate promotion of up to 4.3% p.a. for both products under Versa Save.
Minimum & Maximum Deposit for Versa Save (Versa Cash/Versa Cash-i)
Minimum Deposit: RM10
Maximum Deposit: None
Fees Involved in Versa Save (Versa Cash/Versa Cash-i)
Zero sales and redemption fee.
Management fee: 0.30% p.a.
Trustee Fee: 0.05% p.a.
How To Open A Versa Save (Versa Cash/Versa Cash-i) Account?
Download the Versa mobile application.
Take a quick Suitability Assessment Test to find out the type of investor you are.
Verify your Versa Account through your mobile number and eKYC.
Confirm personal details.
Select “Versa Save” and choose either Versa Cash or Versa Cash-i.
Make a deposit and start earning daily!
3. StashAway Simple
What Is StashAway Simple?
According to StashAway, StashAway Simple is an ultra-low-risk cash management portfolio. The underlying fund of StashAway Simple is the Eastspring Investments Islamic Income Fund.
Unlike fixed deposit accounts that require a minimum lock-up period, you can withdraw from StashAway Simple at any time. In addition, your Simple portfolio is made up of ultra-low-risk assets but is not insured.
Benefits of StashAway Simple
No limit on the amount that can earn the projected rate
No investment, insurance, or salary requirements
Prepare for short-term liquidity needs
Daily Return Rate of StashAway Simple
3.8% p.a.
The StashAway Simple portfolio earns returns in three ways.
Monthly Dividends: You’ll earn monthly dividends and they’ll be paid out each month.
Capital Appreciation: The value of your funds in StashAway Simple will increase as the underlying fund appreciates in value. This updates daily from Tuesday to Saturday, excluding public holidays in Malaysia.
Quarterly Rebates: StashAway receive rebates from the underlying fund manager and returns 100% of them back to you. The rebates make up approximately 0.175% of the projected return. You’ll see them credited into your portfolio after the end of each quarter.
Minimum & Maximum Deposit for StashAway Simple
Minimum Deposit: RM1
Maximum Deposit: None
Fees Involved in StashAway Simple
Annual Fee: Free
Underlying fund manager net fee: 0.115% (embedded in the projected rate)
How To Open A StashAway Simple Account?
Download the StashAway mobile application.
Create an account and verify your identification.
Open a “StashAway Simple” portfolio and start earning!
Should You Invest Your Money in Money Market Funds Versus Other Investments?
Deciding whether to invest or save your money in Money Market Funds (MMFs) in comparison to other investment vehicles can be a bit like choosing your favourite ice cream flavour – each has its own appeal and it really depends on your taste or, in this case, your financial goals and risk appetite.
Let's compare Money Market Funds with two other popular options: Fixed Deposits and Stock Market Investing.
Money Market Funds like Touch ‘n Go GO+, Versa Save, and StashAway Simple are like the vanilla flavour of investments – they're straightforward and reliable. They give you daily returns, which is like getting a small scoop of ice cream every day. They are highly liquid, meaning you can withdraw your money easily, and they're low-risk. However, the returns are usually lower than what you might get from riskier investments.
Fixed Deposits, on the other hand, are more like a chocolate flavour – a classic choice. They offer stability and a guaranteed return, but your money is locked away for a set period. You won’t have the daily returns like with MMFs, but often the overall return can be quite competitive. However, if you need your money back before the term ends, you might face penalties.
Stock Market Investing is like a rocky road – it can be thrilling but bumpy. The potential returns can be much higher, but so is the risk. Your investment can grow significantly, but it can also drop just as quickly. Unlike MMFs, the stock market doesn’t offer the same level of liquidity or stability.
So, should you invest in Money Market Funds? If you value stability, need regular access to your funds, and prefer a lower-risk option, then yes, MMFs could be a great fit for you. They offer the peace of mind that comes with knowing you're earning a little bit every day, and you can pull out your money whenever you need it.
However, if you're looking for higher returns and are comfortable with more risk, or if you don't need immediate access to your cash, exploring fixed deposits or stock market investments could be more up your alley.
In the end, it's all about what works best for you. Whether it's the daily rewards of MMFs, the stability of fixed deposits, or the exciting potential of the stock market, there's an investment flavour out there for everyone.
Don't forget the cherry on top!
Moomoo's launch in Malaysia introduces an exciting and much anticipated opportunity for Malaysian investors looking to diversify their portfolios. If you haven't heard of Moomoo, it's a platform that lets users buy and sell stocks, options, ETFs, and other financial products from around the world. With Moomoo coming to Malaysia, it offers many tools that are easy to use for both beginners and experienced investors. But the important part here is you can't have a big launch without big rewards, right?
So, here's the deal:
Sign Up & Deposit: By simply signing up and depositing RM 500, you're rewarded with an RM 100 cash voucher.
Go Big or Go Home: But if you deposit RM 8,000 not only do you secure another RM 100 cash voucher but also a FREE APPLE share worth RM 900.
Time Frame: This offer is only available from 26th February 2024 to 31st March 2024, giving you enough time to get into the investing scene.
Additional Perks for Opening an Account with Moomoo:
1. Enjoy a 180-day $0 commission fee period for trading on both the US and Bursa stock markets, essentially lowering the barrier to international and local market entries for you.
2. Gain access to premium market data with 60 depth levels for US stocks and 5 depth levels for Bursa Malaysia stocks. Talk about empowering you with in-depth market insights!
To get started and unlock these rewards, simply use this exclusive link: tinyurl.com/flmm24
Wait are you waiting for? Download the Moomoo app from the App Store or Google Play now and start exploring your investment options today!
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