Digital wealth management app Versa has announced that it is enhancing its ongoing Versa Cash promotion to soon reward clients with a net return of 4% p.a. on the funds within their accounts. This is set to begin on 1 November 2022, and will run for three months until 31 January 2023.

For context, Versa’s existing promotion for its Versa Cash clients – which was originally meant to last only until 31 December 2022 – allows them to enjoy a promotional net return rate of 3.2% p.a. on the first RM30,000 balance in their account. The rate is achieved by tallying up Versa Cash’s base net return rate (2.5% p.a.) and the promotion net return rate (0.7% p.a.). Excess amount beyond the first RM30,000, meanwhile, will earn only the base net return rate of 2.5% p.a..

Starting from 1 November 2022, however, the 3.2% p.a. promotional rate will be bumped up by another 0.8% p.a. to let you enjoy an even higher rate of 4% p.a. on the first RM30,000 in your Versa Cash account. And as before, subsequent amounts beyond the first RM30,000 will earn 2.5% p.a..

Other than that, all existing terms and conditions of this campaign remains unchanged; the promo is still applicable to both new and existing clients, which means that you do not need to specifically deposit RM30,000 of fresh funds to enjoy it. As long as you have funds in your Versa Cash account, the 4% p.a. rate will automatically apply. You can also opt to transfer funds from your Versa Invest account – Versa’s investment solution that complements its Versa Cash – to enjoy the promo rate.

Also, the earnings from this campaign will be disbursed on a monthly basis, with the returns gained each month to be deposited into your account in the following month (returns that amount to less than RM0.01 will not be paid).  And as always, the campaign rewards will be paid on a first-come first-served basis; in the event that the total allocation for the campaign has been fully utilised, then you’ll continue to earn the base net return rate of 2.5% p.a..

(Source: Versa)

• TAGS:
• Cash Management Solutions
• Promotional Campaigns
• Versa
• Versa Cash
• Versa Cash Payouts
• Versa Invest