What is it?
- As some of you may know, the fund’s interest rate fluctuates up and down on a daily basis when you invest in Money Market Funds (MMF).
- Sometimes the daily returns you earn is below 2.46% p.a. (inclusive fees)
When that happens, Versa will make up for the amount difference by crediting rebates to your account!
- So, even when the interest rate of the fund fluctuates, you’ll consistently earn 2.46% p.a (inclusive fees) each month!
When will I get rebated?
- You will receive a rebate if the daily returns you earn is below 2.46% p.a. (inclusive fees)
- Versa will credit the rebate for the month in the following month. (Eg: Rebates for the month of July will only be credited into the Versa account anytime within the month of August.
- Once you received your rebate, you will be notified in the Versa app and it can be seen as a form of bonus in the transactions tab and notifications tab.
Terms & Conditions
- Rebates are only applicable to users with a positive balance in the Versa account.
- Rebates are calculated based on the user's account balance. If the user’s rebate calculated is less than RM0.01, Versa will not rebate the user.
- Versa reserves the right not to disclose any rebate calculation.
- Versa reserves the right to terminate the rebate initiative at any time. If Versa chooses to do so, users will be given prior notice via EDM or push notification.
- Any rebates given to the user are the finalized amount. In the case of any disputes of rebate amount, Versa reserves the right not to entertain or consider such disputes.
- Versa reserves the right to terminate and decline to grant the rebate, if in any event, Versa determines that there may have been fraudulent activity or a violation of the terms stated.
- Versa reserves the right to alter or modify the rebate program mechanics at any time.
- Versa reserves the right to amend the Terms & Conditions without prior notice.