At the time of writing, the listed Daily Return Rate is at 1.43% per annum. After 3 days, we have accumulated RM0.0055 in earnings with a RM50 cash-in.
There’s no sales charge when you cash-in but there’s management fee up to 0.45% per annum and a trustee fee of up to 0.03% per annum. According to Touch ‘n Go, the eWallet will display net earnings after deducting the fees. When asked about the low interest rate, Principal CEO Munirah Khairuddin said the e-Cash Fund isn’t meant to compete with fixed deposits. However, she shared that Go+ provides the convenience for users to make withdrawals at anytime with no uplift fees or penalty charges. At the current listed 1.43% per annum, the returns are comparable to bank current accounts.
and it isn’t treated as E-money or deposit and it is neither capital guaranteed nor capital protected by PIDM. Touch ‘n Go understands the need of its consumers and a Shariah-compliant fund option is still in the works.Go+ users will have the option to cash-out directly to eWallet or to their local bank account. Cash-out to eWallet is done instantly while transfer to bank account will take one business day if the request is made before 4pm.
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