RT Reduces Interest Rate Again

Not too long ago, I just shared that Rakuten Trade (RT) reduces its interest rate for the cash deposit on its platform. Starting 4 March 2020, it revises interest rate again.

Reason of reduction

Bank Negara Malaysia (BNM) has announced the reduction of the overnight policy rate (OPR) from 2.75% to 2.50% on 3 March 2020. In tandem with this change, RT also amends its interest rate.

New interest rate

RT reduces its interest rate by 0.25% too from 2.00% to 1.75% per annum.

Conclusion

The interest rate would change again whenever the OPR is changed by BNM. But as I have mentioned in the previous article, the interest rate is not my main point of using this platform. So, though it is a bad news, it does not affect my decision to trade using this platform yet.

Referral link

Below is the referral link to Rakuten Trade. As I am involved in Rakuten Trade Educator Program, by clicking on this link, I may gain referral rewards from your registration with the platform once certain condition is met. (2022: I am not longer involved in the Educator Program).
If you think I have done a good service in explaining the topic, please click on the link below if you are interested to register. Otherwise, you can always search Rakuten Trade Malaysia with Google and register yourself.

Rakuten Trade: Link here

*You may earn 500 RT points when you open an account or other account opening rewards being offered by Rakuten Trade. You may choose only one of them.