Touch ‘n Go GO+ is not a traditional bank savings account, it’s a low-risk investment fund managed by Principal Asset Management. While your regular savings account gives you 0.2% interest paid monthly, GO+ pays out 3% – 4% interest daily, meaning your money is constantly growing.
Why GO+ Is a Game Changer
- Daily interest payout (compared to banks that pay monthly)
- 3% – 4% return per year (WAY higher than most banks)
- Instant withdrawal anytime to TNG eWallet or your bank account
- No lock-in period, your money is liquid
- Maximum deposit limit: RM20,000
| Feature | Touch ‘n Go GO+ | Traditional Savings Account |
|---|---|---|
| Interest Rate (p.a.) | ~3.4% (varies daily) | 0.05% – 1.6% |
| Interest Calculation | Daily & credited daily | Monthly or yearly |
| Minimum Deposit | RM10 | RM20 – RM1,000+ |
| Deposit Limit | RM20,000 per user | No limit (varies by bank) |
| Withdrawal | Instant to TNG eWallet | May take 1-3 days |
| Principal Protection | Not PIDM-insured | PIDM-insured up to RM250,000 |
| Access | Fully digital via TNG app | Bank branches & apps |
| Best For | Short-term savings & liquidity | Long-term safe savings |
How Much Are You Losing by Keeping Money in a Low-Interest Account?
Let’s say you have RM10,000 in savings. Here’s how much you’d earn in a year:
- Traditional Savings Account (0.2%) → RM20 (basically nothing)
- Touch ‘n Go GO+ (3.5%) → RM350 (17x more than a normal savings account)
- High-Interest Bank Account (3.5%) → RM350
That’s an extra RM330 per year just by making a simple switch.
Is GO+ Safe? Here’s What Banks Don’t Want You to Know
- Not PIDM-insured → Unlike bank deposits, GO+ is NOT protected by Perbadanan Insurans Deposit Malaysia (PIDM). However, Touch ‘n Go offers WalletSafe Insurance for fraud protection.
- Low-risk investment → However, it invests in ultra-safe money market instruments, making it safer than stocks, unit trusts, or crypto.
- Managed by a top-tier financial institution → Principal Asset Management is regulated by the Securities Commission Malaysia.
- RM20,000 Deposit Limit → If you have more than RM20,000, you need to split your funds into multiple accounts.
Bottom Line: GO+ is not 100% risk-free, but it’s still significantly safer than most investments and outperforms traditional savings accounts by a mile.
GO+ vs. High-Interest Bank Savings Accounts: Which One Wins?
GO+ Is Better If You:
- Want higher returns than a normal savings account
- Need instant access to your money at all times
- Use Touch ‘n Go eWallet frequently
- Want daily returns without any lock-in
- Have less than RM20,000 to deposit
A High-Interest Bank Savings Account Is Better If You:
- Want PIDM protection (guaranteed safety up to RM250,000)
- Don’t need daily access and prefer stable, long-term interest
- Have a large balance (some banks offer 3.5%+ for high deposits)
- Prefer a fully regulated traditional banking option
- Have more than RM20,000 to save
Other GO+ Alternatives Malaysians Should Consider
GO+ isn’t the only way to get better returns on your savings. Here are other digital savings & investment alternatives:
1. StashAway Simple
- Projected return: 3.6% per year
- No lock-in period
- Slightly higher returns than GO+ but comes with minor risks
2. Versa Cash
- Projected return: 3.5% per year
- Similar to GO+ but offers slightly better rates
- Managed by AHAM Capital
3. Maybank MAE
- Interest rate: Up to 2.95%
- Higher than regular savings accounts
- Best suited for Maybank users who want seamless access to funds
4. CIMB OctoSavers Account
- Interest rate: 0.25%
- Ideal for those who prefer traditional banking with online benefits
| Feature | Touch ‘n Go GO+ | StashAway Simple | Versa | MAE by Maybank | OctoSavers by CIMB |
|---|---|---|---|---|---|
| Projected Return (p.a.) | ~3% – 4% | ~3.6% | ~3.5% | Savings: 0.25%<br>MAE Fixed Deposit: Up to 2.95% | 0.25% |
| Underlying Fund | Principal e-Cash Fund | 80% Principal Islamic Money Market Fund 20% Eastspring Investments Islamic Income Fund | Managed by AHAM Capital | Not applicable | Not applicable |
| Minimum Deposit | RM10 | None | RM10 | None | RM20 |
| Withdrawal Processing Time | Instant to eWallet (Up to 1 business day to bank account) | 3-4 business days | Within 1 business day | Instant | Instant |
| Shariah-Compliant | Yes | Yes | Some portfolios | Yes | Yes |
| PIDM Protection | No | No | No | Yes | Yes |
| Platform Fees | None | 0.15% p.a. (Net fee) | No platform fees, but fund-level fees apply | None | None |
FAQ: What Malaysians Need to Know About GO+ and Savings Accounts
1. Is GO+ better than a bank savings account?
It depends. GO+ offers higher returns (3.5%) and daily payouts, but it is not PIDM-insured. If you prioritize guaranteed safety and have more than RM20,000, a high-interest savings account may be better.
2. What happens if I deposit more than RM20,000 in GO+?
GO+ has a deposit limit of RM20,000, so any extra funds won’t earn interest. If you have more, consider splitting your money across multiple accounts like StashAway Simple, Versa, or a high-interest savings account.
3. Can I lose money in GO+?
Yes, but the risk is very low. GO+ invests in money market funds, which are safer than stocks, but not risk-free. Unlike bank savings, GO+ is NOT covered by PIDM. WalletSafe Insurance does cover unauthorized transactions made from your GO+ account, but it does not cover your capital investment in GO+ under the “Principal e-Cash Fund”.
4. How do I withdraw money from GO+?
You can withdraw funds instantly to your TNG eWallet or directly to your bank account. There is no lock-in period.
5. What’s the safest place to save money in Malaysia?
For absolute safety, choose a PIDM-protected high-interest savings account (e.g., Maybank MAE). If you want higher returns with some risk, consider GO+ or Versa Cash.
6. Should I use GO+ for emergency savings?
Yes, as long as your emergency fund is below RM20,000. If it’s higher, keep the rest in a high-interest savings account.
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Final Verdict: Are You Still Letting Your Bank Profit Off You?
- GO+ is an absolute no-brainer if you want higher returns with instant access, but you’re limited to RM20,000 max.
- A high-interest savings account makes sense if you prefer PIDM insurance and are saving more than RM20,000.
So, Where’s Your Money Right Now?
If it’s in a bank account earning less than 2%, you’re literally losing money to inflation every single day.
It takes 5 minutes to switch and start earning better returns. The only question is: why haven’t you done it yet?
Looking for the best investment opportunities in Malaysia? This article covers high-return and smart-growth investment options that suit various risk appetites: Top 10 Investments in Malaysia 2024: High Returns & Smart Growth
