Digital wealth management platform, StashAway has increased the projected rate of return for its cash management portfolio, StashAway SimpleTM, from 3.3% to 4.1% in Malaysia.
With inflation likely to remain elevated, leaving idle cash in a bank’s savings account means that it is depreciating in value each day. Cash management solutions offer an attractive option for customers to earn more on their savings in an uncertain economic environment.
Consisting of placements in money market funds, StashAway SimpleTM takes advantage of rising interest rates and increasing yields to offer higher projected returns.
“We are committed to helping our customers get more for their cash, and this rate increase is one way that can empower them to get closer to their financial goals. Whether you’re saving for a big purchase, building an emergency fund, or simply looking for a better way to grow your money, StashAway SimpleTM offers a convenient and effective solution, “ said Wong Wai Ken, Country Manager, StashAway Malaysia.
With StashAway SimpleTM, customers can save and grow their money with no lock-in periods, no minimum or maximum deposits, no withdrawal fees, and no management fees, giving them complete control over their finances.
StashAway SimpleTM is an ultra-low-risk, high-yield cash management portfolio designed to help investors grow their money with ease and convenience. The rate increase for StashAway SimpleTM offers customers the opportunity to earn more on their savings, helping them combat inflation and build wealth over time.