19th May 2023 - 2 min read
Digital wealth management app Versa has said that it is extending its ongoing Versa Cash and Versa Cash-i promotion that allows users to earn 4.0% p.a. net returns on the funds within their accounts. With this, the promo will run for another three months until 31 August 2023.
For context, the 4.0% p.a. net return promo for Versa Cash – which was the continuation of a previous campaign that offered a promotional net return rate of 3.2% p.a. – originally began in November 2022. It was supposed to end in January 2023, but was subsequently extended to May. With the end of the promo approaching soon, it seems that Versa has decided to extend it once more. The promo is also applicable to Versa Cash-i, the shariah-compliant version of Versa Cash – which was rolled out earlier this year.
Aside from extending the promo to August, no other changes will be made to the existing terms and conditions of the campaign. All new and existing users will still be able to enjoy the 4.0% p.a. promotional rate on the first RM30,000 balance in their Versa Cash and Versa Cash-i account (after fees); any subsequent balance above RM30,000 will continue to earn the base net return rate.
Versa also clarified in its FAQ that the RM30,000 does not need to be new funds to qualify for the promo. “As long as you have funds in Versa Cash and/or Versa Cash-i, you will automatically enjoy our promotional net return rate of 4.0% p.a.,” it shared.
Users are also allowed to save with both Versa Cash and Versa Cash-i at the same time to earn from the 4.0% p.a. promotional rate on the first RM30,000 in each fund, respectively. Note as well that 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 amounting to less than RM0.01 will not be paid.
Finally, the campaign rewards will be disbursed on a first-come first-served basis. If Versa’s allocation for the campaign has been fully utilised, your funds will continue to earn the base net return rate (although Versa did not share its budget for the campaign).
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