Money Booster Campaign by Versa aims to boost users’ savings. — Picture courtesy of Facebook / SoyaCincau
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Thursday, 02 May 2024 10:14 AM MYT
KUALA LUMPUR, May 2 — Starting today, users of local digital wealth management application Versa, will get to enjoy an additional +1 per cent p.a. nett returns in Versa Cash or Versa Cash-i on top of the monthly base nett return rate.
Called the Money Booster Campaign, it is designed to reward users for building better financial habits by automating their savings and investments.
The campaign aims to provide more value to users’ savings journey by rewarding them to build better financial habits with this competitive +1 per cent p.a. booster rate.
Users can also easily track their fund and savings performance all within the app itself and no upfront charges would be charged.
Upon completion of the campaign mechanics (detailed below), users will automatically enjoy access to the Money Booster.
How it works
Users need to first set up a Versa account and make a cash-in of RM1,000 into Versa Cash or Versa Cash-i.
They will then have to set up an auto debit plan of a cumulative minimum of RM200 or RM500 into any Versa Invest funds (except Versa Gold) to enjoy +1 per cent p.a. returns every month.
With these plans in place, users will enjoy +1 per cent in their Versa Cash or Versa Cash-i for their first RM10,000 or RM30,000, respectively.
No further action is required from the users’ end as these rate adjustments will be automatically applied.
Eligible Versa Invest funds are: Versa Growth, Versa Growth-i, Versa Moderate, Versa Moderate-i, Versa REITs, Versa SGD & Versa Global-i.
Using March 2024’s base nett return rate as an example, users could enjoy 3.77 per cent p.a. + 1 per cent p.a. = 4.77 per cent p.a. in their Versa Cash when they fulfil the campaign criteria.
Versa strives to simplify saving and investing by offering intuitive and beginner-friendly features like a minimalist app interface, auto debit, goal tracker, and educational resources, ensuring a hassle-free experience for users.
They have been offering over 16 diverse funds in three verticals to suit the user’s risk level and initiation to the capital market scene.
Users can start enjoying an additional 1 per cent p.a. return in their Versa Cash or Versa Cash-i through the Versa app that is available for download from the Apple App Store, Google Play Store & Huawei AppGallery.
Versa CEO and co-founder Teoh Wei-Xiang, said the Money Booster Campaign was part of their ongoing commitment to provide innovative and rewarding solutions to their users.
“We recognise that many Malaysians face the emotional weight of financial challenges and Versa aims to alleviate some of that anxiety and burden with our auto debit feature.
“The beauty of our auto debit is that it automates our users’ monthly savings and investments.”
“We are not just about transactions performed via a screen, Versa’s goal is to foster financial peace of mind and confidence in Malaysians to manage their finances effortlessly and stress-free,” he said.
For more information about Versa’s Money Booster Campaign, please click here.
Versa Cash and Versa Cash-i are under AHAM Capital, one of Malaysia’s top three fund houses, that was acquired by CVC Capital Partners, a prominent global private equity firm, in 2022.
Exclusive for Malay Mail readers. Versa is offering a special sign-up promo! Use the code VMALAYMAIL2 to receive a RM10 bonus when you create an account and cash in a minimum of RM100 into any funds in Versa.