Recently, I have made a withdrawal from my Versa Cash account. I would like to share my experience here. Timeline I made the withdrawal request on 19 February (Sunday) at around 8.30am. The request was processed by Versa on the same day. However, as it is a non-working day, my withdrawal request was processed by …
In 2023, I have decided to stop investing in Private Retirement Scheme (PRS). Rationale Why did I decide to stop? Though the tax relief of RM 3,000 for PRS is extended to 2025, I have concluded that Simpan SSPN Prime is a more suitable vehicle for me to reduce my income tax. It is not …
Versa has announced that Versa Cash interest rate will increase to 4% per annum starting 1 November 2022 until 31 January 2023. The current interest rate is 3.2%. Terms and conditions The 4% interest rate only applies to the first RM 30,000 balance in the account. Any amount over this value will continue to earn …
Recently, I have received an email from Versa about its new interest rate. Versa Cash net interest rate now is 2.5% per annum, instead of 2.1%. This is effective from 1 August 2022. My return As on 9 August 2022, my return is 2.75% per annum, based on internal rate of return formula. This is …
Versa has introduced a new product known as Versa Invest. It offers two portfolios actively managed by Affin Hwang Asset Management and global experts. These portfolios contain global funds of varying risks and returns. Main benefits of Versa Invest First, there is no sales and exit fees. Second, it offers portfolios made up of several …
I have been using Versa for more than six months. In this article, I am going to share my experience of using this digital cash management platform. My return As on 30 November 2021, my return is 1.95% per annum. I am using internal rate of return for the calculation. It is lower than the …
I have discussed about three robo-advisors in 2019. Out of the three, I am using MYTHEO and StashAway. Since then, there are a few robo-advisors being launched in the market. Today, I am going to give a brief overview of these newcomers. The New Robo-Advisors There are three new robo-advisors since 2019. They are Akru, …
Versa is a platform to save extra money with a decent interest rate akin to fixed deposit (FD) without the lock-in period. It is licensed by Securities Commission as a recognized market operator. How Versa Works? It channels the invested money to Affin Hwang Enhanced Deposit Fund, a money market fund. The interest is earned …
Starting on 15 March 2020, we can make pre-retirement withdrawal from private retirement scheme (PRS) for certain purposes without the 8% tax penalty. The allowed purposes are housing and healthcare. We could withdraw from Sub Account B which holds 30% of our savings. Healthcare For healthcare purpose, we can withdraw for ourselves or immediate family …
Previously I have mentioned about the transformation of Fundsupermart (FSM) platform. After the transformation, its mutual fund screener, the Fund Selector (Link), has also changed since I last discussed about it. What are the changes? New FSMOne Fund Selector First, the available criteria are reduced from 14 to 12. These criteria are Fund Managers, Risk …
