16th February 2022 - 3 min read
Touch ‘n Go (TNG) eWallet’s GO+ investment feature has brought back its bonus rate campaign, this time allowing users to earn an additional 2% p.a. bonus on top of the daily return rate. The campaign – which begins today – will run until 30 April 2022.
This round of the campaign comes at the heels of the previous 4% bonus rate promo, which made it the highest-earning money market fund platform during the campaign period and proved to be quite well-received among users. Most of the campaign mechanics remain unchanged for this round as well, but there are some new details that you should pay attention to.
Just like last time round, the promo is open to any GO+ users who maintain a minimum balance of RM200 in their GO+ account during the campaign period, with no specific requirement to deposit fresh funds. The 2% p.a. bonus rate will then be provided as a hibah (gift) in addition to the daily return rates, which fluctuates depending on market earnings.
Unlike the previous campaign, however – which allowed users to enjoy the bonus rate on their full GO+ balance amount (capped only by the account’s maximum holding amount) – the bonus rate this time will only apply to a maximum GO+ balance amount of RM3,000. So for instance, if you had RM4,500 in your GO+ account, only RM3,000 will earn a total return rate of 3.47% p.a. (2% p.a. bonus rate + projected 1.47% daily return rate), while the remaining RM1,500 will gain from the projected daily return rate.
Aside from that, the campaign continues to maintain the 4pm cut-off time for your GO+ balance to benefit from the bonus rate each day. In other words, if your GO+ account has a balance of less than RM200 when 4pm rolls around, then you will not be entitled to the bonus rate for the day.
Additionally, the reward will be calculated on a daily basis, and must be accumulated until it reaches a minimum of RM0.01 before it will be credited to you. Your daily rewards can be viewed on your GO+ dashboard. For those who reach the maximum holding of their GO+ account (RM9,500) during this period of time, your reward will be credited straight into your eWallet balance within three business days, and therefore will not be reflected in your GO+ account.
Finally, TNG eWallet clarified that it has allocated a total of RM1 million for this entire campaign period, and users will be informed once the cap is reached – either via TNG eWallet’s Facebook page or push notification through the TNG eWallet app.
For those who are not aware, TNG GO+ is an investment feature that sits within the TNG eWallet, letting you invest your eWallet balance in a low-risk money market fund. The underlying fund for GO+ is the shariah-compliant Principal e-Cash Fund, which is managed by Principal Asset Management Berhad.
(Source: TNG eWallet)
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