Touch ‘n Go (TnG) had just announced that they will be introducing the TnG Go+ feature which enables Malaysians to earn daily interests on their eWallet balances. The Go+ function is not an automatic function and you are required to place an amount as deposit through TnG eWallet.
If you are curious about the function, read through the whole article as we bring you through the details!
TnG Digital, who is the responsible party for the service had in January received approval from the Securities Commission of Malaysia (SC) to sell investment products through the platform.
According to its official FAQ, TnG Go+ will be providing you access to a basic low risk investment in a money market fund managed by Principal Asset Management. The fund that you will be investing in is call Principal e-Cash and it allows you to make more cents with your eWallet balance in a easier and more convenient manner.
The returns and the principle can be spent anywhere and anytime as it linked to the existing TnG eWallet.
The function is currently available for all Malaysian TnG eWallet users who are 18 and above. Of course, you’ll have to complete the account verification process too.
According to the Fund details, TnG Go+ requires a minimum investment amount of RM10 and it has a limit of RM9,500 for every user. You can top up the investment via TnG eWallet or FPX.
As at the reported date, the Fund currently provides a 1.47% return per annum. The daily returns will be credited to your Go+ account starting the next day if the cash in is made before 4pm.
Principal e-Cash Fund has a zero sales charge but there’s a management fee up to 0.45% per annum and a trustee fee of up to 0.03% per annum. Furthermore, TnG Digital also states that Principal e-Cash is not a Shariah-compliant fund and it is not treated as E-money or deposit and it is neither capital guaranteed nor capital protected by PIDM.
What’s interesting is that you can cash out your Go+ balance to either your eWallet or local bank account. Cash out to eWallet is done instantly while cash out to bank account will take 1 working day.
Make use of this function that TnG have provide you today and don’t let your money sit quietly in your wallet!