FORGET FIXED DEPOSITS.
Enjoy better interest rates & shorter waiting times!

Why You Are Here

Hello visitor! Perhaps you landed on this page after searching on Google or some other search engines *shudders* on finding better FD, or fixed deposits alternatives to park your money at.

Let me be very honest here. Without a doubt, FDs just make us want to pull our hair out because of these THREE reasons:

1. Good rates tend to last for short or seasonal periods

2. We need fresh funds (not talking virgin money, rather transferring them from another bank)

3. We have to lock them up for extended periods; 3 months, 6 months, 12 months! *gasp*

See no touch, you need the funds for emergencies or pay the bills? Oops, whatever interests you earned goes poof! 🙈

Thanks to the Internet, I decided to stick with these FIVE (5) simpler alternatives where you can potentially earn better rates (average of 4%* APR) and withdraw in just a few business days. And deposit from as low as RM10!

Best of all, they are regulated by the Securities Commission (SC) of Malaysia and Bank Negara Malaysia (BNM). Also, one of them is insured by Perbadanan Insurans Deposit Malaysia (PIDM)!

* Rates are subject to change based on projections and portfolios selected with low, moderate or high risk exposures. Annual, trustee or management fees may be factored in as well.

Purely gimmick. Banks are not your friends

Fixed Deposit Alternatives

VERSA

TOUCH 'N GO

KDI

GXBANK

MOOMOO

VERSA

Launched in 2021, Versa is the fintech’s flagship product, offering users returns on-par with fixed deposits (FD), coupled with the convenience of flexible withdrawals at any time. Invest in a variety of portfolios, from bonds (low-risk) all the way to ETFs (high-risk), and PRS (Private Retirement Scheme), all managed by AHAM (Affin Hwang Asset Management).

Forget the boring outdated clunky bank app interfaces, Versa emphasizes on user-friendliness so that means you can see how your funds are doing with just a few taps!

BONUS: Register using my referral link below (code WMHJ9ZJB), and deposit RM100 minimum into any funds except PRS (Private Retirement Scheme) to receive RM10!*

*Bonus to be credited after up to 30 working days

TOUCH 'N GO

One of the most frequently-used eWallet and payment platform nationwide, Touch 'n Go launched its GO+ money market funds program in 2021 to encourage users to invest from a low price of RM10. Earnings are credited daily which can straight away be used for payments or cashed out to bank accounts.

With many merchants already adopting payments through TnG, there's no reason not to park your funds in GO+.

While there are no portfolios to choose from, the investments are Shariah-compliant and automatically allocated to low-risk portfolios to ensure a steady return while preserving your wallet funds.

KENANGA DIGITAL INVESTMENT

Kenanga Digital Investing (KDI) is a fully automated Artificial Intelligence (A.I.) digital investment management platform (also known as ‘Robo-advisory’). KDI is one of the new financial initiatives of Kenanga Investment Bank Berhad (KIBB), following the success of its joint venture, Rakuten Trade.

It sits in between Touch 'n Go and Versa, as it offers two options; low-risk (KDI Save) as well as a higher-risk (KDI Invest) portfolio to choose from.

BONUS: Register using my referral link below (code 133201), and deposit RM250 minimum into KDI Invest portfolio to receive RM10!*

*Bonus to be credited after up to 60 working days

GXBANK

A joint venture between Grab and Singtel Telecommunications, GXBank is the first of the five digital bank licence applicants in Malaysia to receive the approval to commence operations from the Minister of Finance and Bank Negara Malaysia (BNM).

With instant deposits and withdraws, treat it as both a savings account and debit card while earning 5%* daily on your balance. And the best part, users are insured by Perbadanan Insurans Deposit Malaysia (PIDM), meaning that up to RM250,000 in balance are entitled to reimbursements just like any other savings account they have!

Do not miss out on these benefits:

1. RM8 instant cashback when you add RM88 or more to your GX Account via the app.

2. RM8 instant cashback when you link DuitNow ID with your GX Account.

3. Up to RM29.40 (6x RM4.90) GrabUnlimited subscription cashback when you link your GX Account on Grab.

* Promotional period from 10th April 2024 - 9th May 2024, before reverting to 3%.

MOOMOO

Unlike the rest, Moomoo is a little different as it is an online trading platform. To make your life easier, you can directly deposit in Ringgit through your bank account, invest in both local and foreign stocks and start earning dividends* in USD!

Feeling left out that NVIDIA price is rising and you wished you did not have to beg your bank just to open an account sooner? Moomoo saves you the years of blood and sweat!

With a number of promotions to take advantage of, such as being rewarded a free APPLE stock from your deposit, you should not be stuck with the ever-depreciating Ringgit.

* Only applies to stocks that actually distribute dividends