The days of recording expenses and bank deposits using a physical ledger are numbered, no pun intended. Most transactions are now accessible online or via a smartphone application.
Aside from expense tracking, new apps enable users to transfer money to each other in just a few clicks. Banks and other financial institutions now offer simpler ways to make payments through online banking and e-wallets.
Financial apps have further evolved to offer solutions for investing your money directly from your smartphone. Here are some of the best automated investment apps you can use to grow your finances.
1. StashAway
StashAway is popular in Malaysia for its comprehensive wealth-management suites that are customised to your preferences.
StashAway Simple allows you to grow your money by offering unit-trust management rebates offering a predicted return of 2.4% annually.
With its mobile and desktop apps, StashAway may be accessed anytime and anywhere you want, letting you tailor your investment strategy to your specific goals and risk tolerance.
2. Mytheo
Mytheo allows you to invest in global exchange-traded funds (ETFs) with as little as RM100.
The app keeps track of financial and economic statistics, as well as current events, automatically rebalancing your investments into better-performing ETFs based on market conditions.
Mytheo also ensures the security of your data, allowing you to invest with confidence.
3. BEST by BIMB Investment
BEST touts itself as a user-friendly Robo-adviser. Create a free account in minutes and start investing with as little as RM10.
Input your risk profile and desired outcome, and BEST will select the funds most appropriate for you.
The app allows you to invest and withdraw funds whenever you want, with no hidden conditions or transfer fees.
4. Wahed Invest
This Shari’ah-compliant app offers a way to grow your portfolio without compromising on your beliefs. Open an account through the app in minutes with a minimal investment of RM100.
Wahed invests based on your risk tolerance, spreading that investment across enterprises in various places throughout the world. It uses cutting-edge technology to ensure your data is secure.
5. Raiz
Raiz encourages users to invest small sums of money automatically, recycling your spare change into cash. The app structures an investment portfolio according to your present financial situation, and rebalances it to meet your choice of objectives: cautious, moderate, or aggressive.
Raiz provides unlimited free deposits and withdrawals, and secures your data remotely, leaving nothing on your smartphone.
6. GO+
Touch ‘n Go users can now invest their eWallet balance into the integrated GO+ account, earning a daily return rate of up to 3.5% with RM200 minimum until April 30.
Simply open your Touch ‘n Go eWallet app and decide how much you want to invest into its Shari’ah-compliant fund, starting with as little as RM10.
Feel secure knowing the app is licensed by the Securities Commission and operated by Principal in collaboration with CIMB Bank.
7. Versa
Versa launched in January with returns comparable to fixed deposits and the ability to withdraw cash at any time without penalty. Start with just RM1 to begin earning up to 2.46% per annum.
Deposits are placed in the MMF Affin Hwang Enhanced Deposit Fund, which has consistently produced returns of 2-4% over the last five years.
Daily interest returns are credited bi-weekly minus Versa’s 0.3% annual fund-management fee and a 0.05% annual trustee fee.
8. Luno
Look no further than Luno if you want to join the cryptocurrency revolution. Start trading a range of cryptocurrencies, including Bitcoin, Bitcoin Cash, Ether, Litecoin, and XRP, with a minimum investment of RM10.
You can earn free Bitcoin by referring others, and if you join using a friend’s alphanumeric invite link, you’ll both receive RM25 in your Luno wallet.
This article first appeared in MyPF. Follow MyPF to simplify and grow your personal finances on Facebook and Instagram.