Grab has just launched their latest feature – AutoInvest – to help you invest as you spend. Is it any good, and who is it suitable for?
Ever since Grab acquired robo-advisory Bento earlier this year, we knew something was brewing. The answer is now clear, with AutoInvest being progressively rolled out starting from today.
You’ll now be able to invest as you spend with your everyday Grab transactions, from as little as $1 per transaction made with Grab services. This happens automatically once you’ve completed the initial set-up and whenever you
- book a Grab ride
- order via GrabFood
- shop via GrabMart
- Pay with your GrabPay Wallet or Card
Each time you use Grab, an amount (that you choose upon the set-up on AutoInvest) will be transferred and invested. There’s no lock-in period or penalties, which means you can transfer your money back to your GrabPay Wallet whenever you wish.
Returns: 1.8% per annum
Fees: less than 0.45% p.a. (i.e. less than $0.45 for every $100 invested)