Raiz – it is your first Malaysian micro-investment app.
If you don’t have a big capital for investment, and you’re looking into an effortless way to save and invest at the same time, Raiz could be the right app for you to begin with.
Raiz – an app that helps you save and invest your spare change from your everyday purchases!
How Does it Work?
Raiz connects with your Maybank debit card (Don’t worry! more methods will be available soon) and automatically rounds up every purchase you made using your debit card to the nearest Ringgit.
- If I spend RM5.60 in total, Raiz will automatically round it up to RM6.00.
So, my spare change is 40 cents, which will be used to invest.
- If I spend RM11 to pay for a McDonalds meal, Raiz will round it up to RM12.00.
That means my spare change is RM1, which Raiz will consider for investment.
- Another example would be me spending RM33.10 at a supermarket. Raiz will round it up to RM34.00, making my spare change 90 cents.
Raiz will continue to round up all purchases you made and virtually accumulate the spare changes. Once it has reached at least RM5.00 or the selected threshold, Raiz will then help you use that amount for investment.
Therefore, as you spend, you actually save!
The 3 Portfolios
You invest in an investment portfolio recommended to you based on your financial situation and goals.
There are 3 types of portfolio, and each portfolio comprises of unit trust funds by the Amanah Saham Nasional Berhad (ASNB). The portfolios mentioned are:
Raiz will recommend a suitable portfolio to you based on the personal details you submit. However, if you disagree with the recommendation, you can always change your portfolio easily. Just visit your menu tab on the top left > invest > portfolio > select the portfolio you desire and click ‘Change to this Portfolio’.
Aside from investing through your spare change, Raiz also offers other great ways in automating your investment.
You may invest a lump sum amount by entering your desired amount on the Invest screen of the app, or you may also set up recurring investments on a daily, weekly, fortnightly or monthly basis.
So … What is the Service Charge?
How to pay for all these services, you ask?
If your investment amount is below RM6,000 per month, you’ll only be charged RM1.50 monthly. On the other hand, a monthly investment beyond RM6,000, Raiz will charge a monthly fee of 0.025%.
Raiz is about saving and investing small amounts regularly to build your savings.
Regular disciplined savings can help improve your financial position in the long run, no matter what the short-term market performance is.
Wait no more! Start your very own unique investment journey now by downloading Raiz from Fuhla App today!