In this Versa Cash update 2023, I will share my rate of return on Versa. The return is calculated using value as on 1 July 2023.
My return
My return is 3.43% per annum, based on internal rate of return formula. This is lower than the promotional rate of 4.00% per annum. My return was lower perhaps due to some transactions that I made during the year.
Conclusion
The promotional rate only applies to the first RM 30,000 balance and it was supposed to end on 31 August 2023. Nonetheless, Versa has increased its promotional rate to 4.30% per annum starting 10 July 2023. The minimum balance required to enjoy this rate is RM 1,000. With this increase in its return, Versa represents a good place to park extra cash.
Referral code
If you are interested to open an account with Versa, do use my referral code (993Q8XD2). Both of us will receive a RM 10 reward if you make a first minimum deposit of RM 100. Go to this link to register now!
You can also check Versa website to see if there is any other promotion that you think is more worthwhile before signing up.