Have you heard about Raiz? Besides that, have you ever wonder how to solve burgeoning issue of not having money (surplus to be exact) to invest for your future? Fret now. Now you can do so with just a spare change! Yes. You heard it right. Only a small fraction from of your spare change.
Nowadays spare change is just scattered across your house isn’t it? What did you do with that small change of yours? I believe nobody paying any attention right. If you try to pick up all the small change of yours, I strongly believe it will start to accumulate. So here is the concept of investing with Raiz. Just use your spare change to invest.
What is Raiz?
Raiz in Malaysia is a partnership between Permodalan Nasional Berhad (PNB) and Raiz Invest Australia Limited. Raiz is a financial service app. Helping you to save and invest your money. Raiz will enable Malaysians to start early, invest often, and reach your financial goals accordingly.
How does Raiz works?
So here is the deal. It is basically is a Unit Trust investment. Like any other Unit Trust investment available in Malaysia, your spare change will be invested into a Unit Trust account. The key differentiator here is that, you may connect Raiz account to your Saving Account or Debit Card. Whenever you are making any purchase online or at the store, Raiz will deduct certain portion from your purchase. This is what they call ‘Round-Up’ in their app.
Isn’t it great?
What is the deal here?
Not only about investing your round up, they also have other perks to be given to you. They have so many rewards with their partner. For instance PPZ MAIWP. Whenever you are making Zakat payment through them, you are entitle to 1% rewards!
Let says you are paying RM 1,000 zakat for 2022 Tax Assessment, you’ll be getting RM 10 as your rewards. Then this rewards will be deposit into your account as an investment. Same case goes to other partner like Shopee
How much fees Raiz is charging?
For an account with a balance under RM6,000, they will only charge RM 1.50 per month. Whereas, for an account with a balance of RM6,000 and over, they will charge 0.30% per year. This is much cheaper if you are comparing to a Unit Trust Consultant fees.
But bear in mind that, through them you need to do everything on your own. It is a self service type of investment. That is why the fees is super cheap for you to start your small scale investment. If you need to invest more, please seek help from a Financial Planner.
If you wanted to know more about Raiz, please go to their website and read FAQs. It contain lots of information for you to pick up over there. But before you go, they are offering RM 20 referral fees to both of us if you click on this link. Thank you so much and happy investing!