Grab Launches AutoInvest by GrabInvest - Earn up to 1.8% p.a. with Everyday Grab Transactions
AutoInvest by GrabInvest is Grab Financial Group's first investment solution and it will be progressively rolled out to users starting from today (16 September 2020). This brand new product will allow consumers to invest with each eligible Grab transaction that they make each day - investment amount starts from just S$1. AutoInvest monies are invested into high-quality, liquid money market and fixed-income funds managed by Fullerton Fund Management and UOB Asset Management, and can potentially earn returns of an estimated 1.8% p.a.
Click HERE for more information on AutoInvest by GrabInvest!
Photo Credit: Grab
Grab users who are interested in AutoInvest by GrabInvest will be able to nominate either S$1, S$5, or S$10 - this amount will be deducted from your GrabPay wallet with each eligible transaction. The invested amount would then earn an estimated 1.8% p.a. with no hidden fees and lock-ins - do note that an all-inclusive management fee of 0.45% p.a. applies.
Photo Credit: Grab
Users who opt-in to AutoInvest by GrabInvest will automatically invest when they do one of the following:
Take a ride with Grab
Order from GrabFood or GrabMart
Pay by QR or GrabPay Card
Earnings can be transferred back into GrabPay wallets and they can be used to spend on Grab’s services or at merchant-partners that accept the GrabPay Card. The time taken for money to be invested in the funds, or for invested sums to be redeemed and transferred to the GrabPay wallet will take an estimated 2-4 working days per transaction, in line with the market standards for investment in funds.
Get S$300 cash reward by crediting your salary to a POSB/DBS account, and receive an additional S$200 bonus when you spend S$500 on eligible cards per month, over the next three months.