Moomoo cash plus

[CoffeeDrinker8899]

2024 is 366 days

You are right there are 366 days this year, however oddly enough, if we look at the max return cap of $596 for the 40-day tier promo, it seems to be calculated on the basis of 365days. I have no idea why that is so.

 

[CoffeeDrinker8899]

Noted that the 6.8% promo includes both the daily Fullerton returns and Moomoo top up. If I deposited $100k into the promo, what is the expected interest earned after 40 days?
Ex: $100k x 6.8% / 365days = $18.63/day x 40 days = $745.21 interest earned?

If you deposit 100k you will likely be on the 40-day tier, which has a max holding of 80k subjected to a return capped at max $596. So only your first 80k earns 6.8%, the other 20k is on basic Fullerton fund return.

 

[Ahboy069]

Hi all a question so now the previous tranche has matured at 10am and I have proceeded to withdraw from the fund.
When do I get the extra interest? And under which tab?
thanks

 

[CoffeeDrinker8899]

Hi all a question so now the previous tranche has matured at 10am and I have proceeded to withdraw from the fund.
When do I get the extra interest? And under which tab?
thanks

Typically, they will issue a coupon to you within few days, then you can "use" the coupon to encash it, again you have to wait a while for the cash to arrive at your account. All included should be within 7 business days.

 

[devion]

to check, if I previously subscribed 100K to earn 40 days 6.8% interest which is prior to Apr 1st promo, if I enrol & top up another 200K for Apr 1st promo, both will still get 6.8% right?

 

[yslvlys]

to check, if I previously subscribed 100K to earn 40 days 6.8% interest which is prior to Apr 1st promo, if I enrol & top up another 200K for Apr 1st promo, both will still get 6.8% right?

Yes for the additional 200k. The 100k previously you cannot withdraw and will be normal returns. Other forumers feel free to correct me if I'm wrong.

 

[devion]

Yes for the additional 200k. The 100k previously you cannot withdraw and will be normal returns. Other forumers feel free to correct me if I'm wrong.

Oh, I think u may be right, the org 100K will only get normal returns? In this case, I should instead just top up 100K instead of 200K for this recent promo to just have 200K in the acct.

 

[CrashWire]

to check, if I previously subscribed 100K to earn 40 days 6.8% interest which is prior to Apr 1st promo, if I enrol & top up another 200K for Apr 1st promo, both will still get 6.8% right?

Oh, I think u may be right, the org 100K will only get normal returns? In this case, I should instead just top up 100K instead of 200K for this recent promo to just have 200K in the acct.

You should read the promo properly. If you put $150k fresh funds, should be able to enjoy a total of $200k at 6.8%, which means $50k from the original funds as well.

 

[devion]

I know that. But in my case, I have exceeded the limit of 200K. Initially I thought this limit only applies per promotion period, but realized yslvlys is right, I cannot withdraw this initial 100K when its 40 days expired, cos that would lead to my next 200K to drop by 100K in my total amt in Moomoo.

I will need to take out 100K & park it back to HSBC which gives me 4.6%.

 

[Astro_light]

to check, if I previously subscribed 100K to earn 40 days 6.8% interest which is prior to Apr 1st promo, if I enrol & top up another 200K for Apr 1st promo, both will still get 6.8% right?

Your 100k from previous has already hit the max holding for the new 40days, so to qualify for the new 6.8%, you need to deposit 150k to enjoy the 6.8% on 200k, so the remaining 50k is on market rate. Don't withdraw anything. The promo fund calculates by event date, which is from 1st April 2024.

 

[Jorgensen]

A noob question regarding the recent 6.8% pa promo (April to July 2024) :

I am a new user to Moomoo. Say I open a my account on 7/4. And deposit $1000 into the Universal Account and left it idle until 15/6, then subscribe to Fullerton Sgd Funds. Will I still receive the 6.8% pa interest on 15/7?

 

[Ahboy069]

I got the the $200 extra interest coupon , click Liao it disappear .,,🫠 so when will it reappear to withdraw to bank ? Thanks

 

[yslvlys]

(taken from FB, just out)

Can't see any image

 

[Jorgensen]

A noob question regarding the recent 6.8% pa promo (April to July 2024) :

I am a new user to Moomoo. Say I open a my account on 7/4. And deposit $1000 into the Universal Account and left it idle until 15/6, then subscribe to Fullerton Sgd Funds. Will I still receive the 6.8% pa interest on 15/7?

Anyone know? Thanks

 

[devion]

Anyone know? Thanks

Why u will want to do that? since your fund already inside acct idle, go subscribe immediately.

 

[royalmix]

A noob question regarding the recent 6.8% pa promo (April to July 2024) :

I am a new user to Moomoo. Say I open a my account on 7/4. And deposit $1000 into the Universal Account and left it idle until 15/6, then subscribe to Fullerton Sgd Funds. Will I still receive the 6.8% pa interest on 15/7?

Here is the tnc for new user:

Moomoo SG offers a 30 days 6.8% p.a. guaranteed return on any choice of money market fund of Moomoo Cash Plus. The minimum subscription amount to enjoy 6.8% p.a. Moomoo Cash Plus guaranteed returns is S$0.01/ US$0.01 and the maximum subscription amount is S$80,000/ US$60,000. Clients may choose to invest in their preferred money market fund.

The 30 days term will commence upon your verification of your subscription by our team which happens around 1-2 working days after you have initiated your subscription. For example, your subscription into Moomoo Cash Plus has been verified on 3/4/2024, your final day of enjoyment for 6.8% p.a. guaranteed returns will be on 2/5/2024.


My comments:

New users get very good reward offers of free stocks/shares, u dun want?

Always read the tnc or check with whoever suggest you open the account cos he/she earn from you?

 

[Jorgensen]

Why u will want to do that? since your fund already inside acct idle, go subscribe immediately.

Because I have FD that will only mature in June which then only i can use that to buy moomoo cash plus fund

 

[devion]

So far from the recurring 6.8% smart save promotion, it has the TnC of the top up amount from start of promo period that shall be entitled for the 6.8%,
That said, if you are in a previous promo in Feb 1st to Apr 1st, It would be better to exit & encash few days prior to Apr 1st. Cos if the new promo starts, it will be from Apr 1st.
If you have intentions to continue enrol in the new 6.8% promo, have to do this.
If u allow the previous amount to run beyond Apr 1st, then in order to enjoy the new one, u have to top up additional amount into the acct, on top of existing. The existing amount will not be able to withdraw else top up amount be affected.
Correct me if am wrong in my understanding.

 

[Ahboy069]

U can cash out at any time of the promo. The cash coupons will be awarded within a week after your promo period ends. Eg. If u qualified for the 20 days, then by the 20th day + 7 days cash coupon be awarded.

How many from clicking cash out will the extra interest be available to be withdraw to bank?

 

[ejduen]

I want to open new account and I see some referrals offer cashback if use their referral link.

I see on Singsaver website they'll paynow back $160 if I use their link to open account.

Are they reliable? Any catch? Is $160 the highest cashback around? Or there are better deals elsewhere?