BY ALEXANDER WONGchannel for the latest updates on news you need to know. today, its new investment feature which allows its eWallet users to earn daily returns with their balance. The provider aims to acquire 1 million Go+ users by the end of this year.Anchored on Principal e-Cash Fund
, a money market fund managed by Principal Asset Management . Principal is a joint venture between Principal Financial Group and CIMB Group Holdings.Touch ‘n Go eWallet users can start their investment with a minimum cash-in of RM10. This is available to all Malaysians who are aged 18 years old and above with a verified account. You can also make additional cash-in at any moment with a minimum amount of RM10.
At the time of writing, the listed Daily Return Rate is at 1.43 per cent per annum. After 3 days, we have accumulated RM0.0055 in earnings with a RM50 cash-in. 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 cent per annum, the returns are comparable to bank current accounts.
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