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What does 2% 7 days yield mean?
$Fullerton SGD Cash Fund (SG9999005961.MF)$ Actually idk how this works. I put 1K SGD in for a week and got around 11 cents
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102928477 Win : Can you just sell it after 7 days? Any charges incurred?
Blessedme : just put 1,000 and leave it there to earn interest? Must top up monthly like regular savings plan?
五代雄杰 OP Blessedme : Yes but as u can see interest is quite Low. Don’t need to top up monthly, got 2 options 1 is RSP that one need to topup monthly. Another option is just subscribe, subscribe don’t need top up
五代雄杰 OP 102928477 Win : I don’t think there’s any charges since they say all fees absorbed by Moomoo, but don’t quote me on it
Calista Tan : 2% 7 days yield means that using the aggregated data from the past 7 days, u get interests adding up to 2% of your principal amount annually
五代雄杰 OP Calista Tan : Ahh I see, thanks for clarifying. I had thought 2% for 7 days seemed too good to be true. Then the maths is correct, everyday accrued few cents interest
Blessedme 五代雄杰 OP : thanks for yr info