Sunday, May 16, 2021

How much can you earn with Touch n Go eWallet GO+ account?

By now, you should be aware that there is a daily return earning account called GO+ inside Touch n Go (TNG) eWallet, which maintains a separate balance from the normal eWallet balance.

Unlike the normal TNG eWallet balance which has zero return, this GO+ balance enables you to earn daily return. Your balance will be seamlessly used to invest in money market fund operated by Principal Asset Management Berhad, which is a joint venture between Principal Financial Group and CIMB Group. 

Touch n Go itself is a wholly-owned subsidiary of CIMB Group, while TNG eWallet is a joint venture with Ant Financial.

You need to go through the eKYC procedure to activate the GO+ feature in TNG eWallet. If you haven't done so, and plan to activate it, you can use this referral code "7shwuw" during your GO+ activation.

You can cash in your GO+ account either directly from your bank account using FPX, or from your eWallet balance. You can cash out your GO+ money, also either directly to your bank account or to your eWallet balance. 

There is minimum and maximum daily limit for the 2 types of cash in and cash out, as should in the table below.

Your GO+ account also has a maximum balance limit of RM9,500 only. When you have reached the limit, you can no longer cash in more money to your GO+ account, but the balance inside your account will still earn daily return and continue to be added to your balance.

The daily return rate of your GO+ account is estimated to be within the range of 1.2% p.a. and 2.4% p.a. Most of the current time, it is between 1.4% p.a. and 1.5% p.a.

The return is daily rest, and the cut-off time is 4pm everyday. The daily return will be credited into your GO+ account around 1am in the next day.

So, how much return can you expect in your GO+ account? You can refer to the table below.

If your GO+ balance is below RM200, your daily return will be negligible. Therefore, it is advisable for you to maintain your GO+ balance above RM200 to have some meaningful return.
If your account balance is at RM9,500 and the daily return rate is at 2.4% p.a., you will earn about 62.47 sen each day.

Let's multiply the earning return by 30, you can then estimate how much you can roughly earn per month with an average daily return rate as listed in the table below.

The return amount might not be very impressive, but bear in mind that this rate is actually much better than bank savings account.


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