When talking about money matters, experts often warn you to stay away from the stock market — I mean, can you blame them? The “ceiling” is high when it comes to the number of people who actually understand how to invest. And those who do understand usually have a strong finance or economics background. But now, that ceiling is lowering as TNG has announced GoInvest, a goal-based investment platform by partnering with Principal Asset Management Berhad.
With projected returns of up to 2.85% per annum, GoInvest offers one of the highest interest rates in the market. By investing with GoInvest, a Shariah-compliant investment product, you can grow your money with an easy and affordable way to start building long-term wealth while staying safe and secure.
But to benefit from that, first…
How does GoInvest work?
First, you need to have a TnG eWallet account — if you don’t have one, no worries, you can easily sign up for one on their app. Once you’ve registered and logged in, go to the “Invest” tab and select “GoInvest”.
From there, you can select the financial goal or “general savings” you desire based on one that best suits your needs.
Once you’ve selected a plan, all you need to do is deposit money into your eWallet. Then, Goinvest will automatically calculate the projected net return money for you.
And you will then get an overview and your progress in the form of a percentage (%).
It’s really that simple!
Who is GoInvest suitable for?
GoInvest is designed for novice investors aged 18 and above. Investors can use the app to build a portfolio that meets their financial goals. The app will also provide recommendations on how much money you need to reach your goals.
The main difference is that GoInvest offers a lower minimum amount to start investing compared to other products in the market. For example, with GoInvest you can start investing with as little as RM10.
What do I like about GoInvest?
There are many benefits of using GoInvest:
- It is easy and affordable to start investing as low as RM10.
- It is EXTREMELY easy and effortless to set up.
- It is a goal-based investment platform.
- It offers great interest rates in the market.
What do I not like about GoInvest?
- Since it is considered an investment, it DOES NOT get you covered with PIDM protection.
- Your investment may not perform as well as expected (since the projected return can change).
- No recurring deposit feature where you can fund at regular intervals.
You can make informed decisions about your investments by understanding the pros and cons.
For further FAQ, visit the official website at Principal’s investment platform through GOinvest.
Have you started using GoInvest? How has your experience been so far? Let me know in the comments below!