This post is on Kenanga Digital Investing review.
Among others, I’ll share my experience using the Robo-advisor platform including its performance and my Kenanga Digital Investing (KDI) referral code <101669> or referral link for the free RM10 sign-up bonus.
Since this is a long post, feel free to jump to whichever section you wish to explore.
Table of Contents
- KDI referral code/referral link
- Who is Kenanga Digital Investing?
- Highlights of KDI Invest
- What are KDI Invest fees?
- Other KDI Invest features worth knowing
- Highlights of KDI Save
- Other KDI Save features worth knowing
- Other things worth knowing about the Kenanga Digital Investing platform
- How to register for Kenanga Digital Investing?
- How to deposit to KDI?
- KDI Invest Performance 2023
- Final thoughts
KDI referral code/referral link
Many of my readers are here for the KDI referral code. So, I’ll start this Kenanga Digital Investing review with my KDI referral code and referral link.
To be eligible for the RM10 sign-up bonus for your KDI Invest, you may register through my Kenanga Digital Investing referral link.
When you sign-up through my KDI referral link, you’ll see my referral code <101669> appear on the sign-up screen. You may refer to the screenshot below.
Alternatively, if you’re registering through the KDI app or you have not sign-up using a referral link, you may enter my Kenanga Digital Investing referral code <101669> during the signing-up process.
To redeem the RM10 sign-up bonus successfully, do take note of the following:
- Register Kenanga Digital Investing through my KDI referral link or enter my KDI referral code <101669>.
- Invest a minimum of RM250 in your KDI Invest account.
- The sign-up bonus of RM10 shall be credited to your KDI Invest portfolio within 60 days of your deposit.
Here is a screenshot of my RM10 KDI referral fees updated in my KDI Invest portfolio.
Next, you may take part in the refer a friend program too.
You can do so by sharing your unique KDI referral link or referral code with your friends and family. When they sign-up through your referral link or code and invest RM250 in KDI Invest, both your friend and you will be eligible for the RM10 rewards.
Grab the opportunity while the promotion is still valid.
By the way, you my want to consider my other Robo-advisor referral codes, StashAway promo code (up to 6 months free investing).
Who is Kenanga Digital Investing?
Now, let us get to know more about Kenanga Digital Investing.
Kenanga Digital Investing or KDI is a fully Artificial-Intelligence (A.I.) Robo-advisor powered by Kenanga Investment Bank Berhad (KIBB), a regulated fintech player under the Securities Commission Malaysia (SC).
The digital investment management platform launched in February 2022, offering two core products, namely KDI Invest and KDI Save.
KDI Invest offers you the opportunity to invest in global investment through US-listed Exchange Traded Funds (ETFs) at a competitive fee, from your digital devices.
As for KDI Save, it is a cash management fund where you can earn consistent returns on your savings with no lock-in period and zero management fees.
I’ll share the details of each product separately below.
Highlights of KDI Invest
Let’s start this Kenanga Digital Investing review with KDI Invest.
Compared to the conventional method, Kenanga Digital Investing makes it a lot easier to start investing in ETFs.
You can register for your KDI account online (within minutes). Once your account is verified (within days), you can make an online deposit to your KDI Invest portfolio.
Then, the Robo-advisor would take care of the rest of your investment process.
And you can monitor your portfolio online 24/7 through the digital platform (web-based or app).
And here are 9 highlights of KDI Invest worth knowing.
1. Free investment up to RM3,000
KDI Invest offers a 0% management fee for investments below RM3,000.
Maybe you’ve wanted to try out investing in a Robo-advisor but you hold back because of the investment costs. Or maybe you are unsure if digital investing is the right investment option for you.
Now, with KDI Invest’s RM3,000 free investing, you can try out the Robo-advisor without worrying about the fees. From there, you can decide if the Robo-advisor fits into your personal finance.
2. Attractive refer-a-friend program
As mentioned earlier, f you register for KDI through an existing KDI user referral code or referral link, you’re eligible for the RM10 sign-up bonus when you invest RM250 in KDI Invest.
As a KDI user, you may participate in the referral program too. You shall receive RM10 for each new user who registers through your KDI referral link or referral code and deposit RM250 in KDI Invest.
3. Affordable initial investment
The minimum deposit to kick start your KDI Invest is RM250.
If you are wondering whether KDI Invest is a good investment option, you may try out the platform with the minimum deposit. Then, you can decide if you want to invest more in the platform.
4. Competitive pricing
For investments above RM3,000, KDI Invest’s management fee is between 0.3% to 0.7% per annum.
The screenshot below shows KDI Invest’s pricing list.
As of the time of writing, this pricing places KDI as one of the most competitive Robo-advisor platforms in the country.
Do take note, the fees might change from time to time. For the latest updates, always refer to the official KDI Invest pricing.
5. No lock-in period
Similar to other Robo-advisor platforms, there’s no lock-in period when you invest in KDI Invest.
You have the freedom to withdraw your investment at any time.
6. Invest in ETFs
KDI Invest portfolio invests in US-listed exchange-traded funds (ETFs). Investing in ETFs means you are holding a basket of investments such as stocks or bonds.
Compared to investing in a single stock or bond, instant diversification makes ETFs a lower-risk investment option.
And compared to investing on your own, KDI Invest also allows you to have access to global investment at a much lower cost with fewer hassles too.
Being able to invest in ETFs with minimal effort and requirement at a lower cost is among the top benefits of investing in Robo-advisor.
7. Flat fee for an investment of more than RM2 million
If you are investing more than RM2 million, you will be enjoying a flat fee of RM6,000 per annum. I would say this is also one of the most competitive offers compared with other Robo-advisor in the market.
8. Fully A.I. driven
The digital investment management platform is fully A.I. driven. The Robo-advisor relies on algorithms to decide on the allocation for each portfolio.
This eliminates human emotions, which can negatively impact returns.
9. Allow switching of risk profiles
KDI Invest allows you to switch your risk profiles.
To do so, you’ll need to follow the procedure for their frequently asked questions (FAQs). And it depends on whether you have not started investing or already have existing investments.
For the latter, do take note that it can take up to 7 working days to be completed.
What are KDI Invest fees?
KDI Invest has 3 charges as below:
- Management fees of between 0.3% to 0.7% per annum on the amount invested (except for investments of RM3,000 and below).
- Expense ratio fees.
- charged by ETF fund level.
- averaging at 0.2% to 0.4% per annum.
- the fee is already embedded in the fund price.
- Currency conversion cost.
- 0.2% of amounts transferred to and from KDI Invest.
Other KDI Invest features worth knowing
In this Kenanga Digital Investing review, I’ve also listed other important KDI Invest features that could be helpful for your Robo-advisor investment journey.
1. Deposit requirements
Below are KDI Invest’s deposit requirements:
- Minimum Initial Deposit: RM250
- Minimum Subsequent Deposits: RM100
2. Withdrawal conditions
Do take note of the withdrawal conditions below:
- Minimum withdrawal to your bank account: RM100
- Minimum balance so that KDI Invest remains invested: RM250
3. Online deposit timeline
Once you’ve made a deposit online, KDI Invest requires 4 to 5 working days before the amount is reflected in the portfolio.
4. Withdrawal timeline
For withdrawal, KDI Invest requires 6 to 7 working days before the amount is available in your bank account.
Highlights of KDI Save
As mentioned earlier, KDI Save is a savings product under the Kenanga Digital Investment platform.
In a simple explanation, it’s something like fixed deposits but with better interest minus all the restrictions, plus some additional benefits.
Below are 6 highlights of KDI Save.
1. Effective Annual Rates up to of 4.0%
Currently, KDI Save is offering an Effective Annual Rate of up to 4.%.
The Effective Annual Rate of 4.0% per annum is for investments up to RM50,000 in KDI Save. Investments between RM50,001 and RM200,000 will enjoy the Effective Annual Rate of 3.5% and you will get an Effective Annual Rate of 3.0% for investments above RM200,000.
As the promotional rates might change from time to time, it is best to refer to official KDI website on the latest KDI Save rates.
2. Zero fees
You don’t need to pay management fees, expense ratio fees, or any other fees for using KDI Save.
This makes KDI Save the most competitive cash management platform in the market (Do correct me if I am wrong).
3. Earn fixed daily returns
The cash management fund allows you to earn a pro-rated daily interest rate from your savings in KDI Save.
Compared to a yearly interest, you have more potential earnings with a daily interest. This is because the compound works daily instead of yearly.
4. No lock-in period
You have the freedom to withdraw your savings in KDI Save anytime.
So, you can earn returns and have the flexibility to withdraw them when you found the right investment opportunities or when you need the money for an emergency.
The no lock-in period makes the KDI Save more appealing compared to fixed deposits.
5. Affordable initial amount
You only need RM100 to kick start your KDI Save. This encourages more new or young investors to try out the platform without having to fork out a large amount.
Then, they may make additional investments if they think the platform is suitable for their financial needs.
6. Invest in money market and/or fixed-income financial instruments
KDI Save is a portfolio of Ringgit-based money market and/or fixed-income financial instruments. The cash management tool derives its returns from deposits with varying maturity periods.
I would say KDI Save provides a great opportunity to invest in the money market compared to investing on your own, especially for novice investors. Because the platform offers hassle-free onboarding, has lower minimum requirements, and is uncomplicated too.
Other KDI Save features worth knowing
Below is a list of other KDI Save features that you might find helpful.
1. KDI Save deposit requirements
Here are KDI Save deposit requirements:
- Minimum initial deposit: RM100
- Minimum subsequent deposits: RM10
2. KDI Save withdrawal conditions
The requirements for KDI Save withdrawal are as follows:
- Minimum withdrawal to your bank account: RM10
- Minimum balance so that KDI Save remains invested: RM100
3. Online deposit timeline
Once you made an online transfer, it will take up to 1 to 2 working days before the amount is reflected in your KDI Save portfolio.
4. KDI Save withdrawal timeline
As for withdrawal, it will take up to 1 to 2 working days before the amount is reflected in your bank account.
Other things worth knowing about the Kenanga Digital Investing platform
Here are other things you might want to know about the digital investment management platform.
1. Licenced by Securities Commission Malaysia (SC)
Both KDI Invest and KDI Save are licensed by SC.
Personally, I prefer to invest in an SC-approved fintech company as I feel safer liaising with these providers.
2. No up-front fees or sale charges
The digital investment management platform also has no up-front fees or sales charges for both products.
This means you have more investment in your portfolio and potentially better returns.
3. Not PIDM insured
Similar to other Robo-advisor in Malaysia, your investment in both KDI products is not protected by PIDM.
But, as KDI is regulated by SC, your money is safely held by a Malaysian licensed custodian, Pacific Trustee Berhad. Thus, if the platform closes down or gets acquired, you still have full access to your investments or savings.
4. Not Shariah-compliant
As of the time of writing, the investment portfolios under KDI Save and KDI Invest are not Shariah-compliant.
Since this might change from time to time, for the latest update, it is best to refer to Kenanga Digital Investing’s website.
5. Unlimited free transfer
The Robo-advisor also allows you to make unlimited free transfers between the two products.
Below are the details for the transfer:
- Transfer from KDI Save to KDI Invest
- minimum RM100 (already has an existing investment)
- minimum RM250 (no existing investment)
- require 4 to 5 working days
- Transfer from KDI Invest to KDI Save:
- minimum RM100
- require 8 to 9 working days
With the free unlimited transfer, you can easily manage your investment decision on the platform.
How to register for Kenanga Digital Investing?
In this Kenanga Digital Investing review, I’ll also share the registration process.
Signing up for the digital advisor is pretty similar to other Robo-advisor platforms.
Here is the step by step to registering for KDI based on my experience.
- You can register through the KDI website or the KDI app.
- Start entering your email address.
- For the referral code, if you are registering through my KDI referral link, you’ll see my KDI referral code <101669> automatically inserted.
- Else, you may enter my KDI referral code manually (You’ll find more further below, explaining my KDI referral code).
- Confirm your email address through the One Time Password (OTP).
- Setting your KDI account password.
- Uploading your NRIC or passport.
- Once captured, the details on your NRIC or passport will be automatically entered. This saves you time.
- Entering other personal details such as Nationality.
- Register your mobile number (as shown above) as part of account security.
- Entering personal financial details
- monthly income, estimated net worth, occupation, etc.
- these details will be used for customizing the best-suited portfolio for you.
- Entering more personal details as required by Malaysia’s regulatory requirements.
- housing loans/car loans.
- Start customizing your profile based on your preferences.
- your age.
- investment objectives.
- investment horizon.
- Entering the risk level you are comfortable with.
- you may move the slider to choose your preferred investment portfolio as shown below.
- KDI will then show your recommended ETF investment portfolio. I shared my recommended ETF portfolio below.
- You’ve completed the registration. The KDI team will contact you within 2 to 48 hours upon approval.
For sharing purposes, my KDI account was approved within 22 hours.
How to deposit to KDI?
To make a deposit, you just need to click on the deposit tab and follow the instruction accordingly.
- Enter the amount for KDI Save or KDI Invest as shown below.
- Then, make your payment from your preferred bank through FPX and follow the instruction to complete the transaction.
- My investment is available on the KDI Invest platform two days later.
Important things to take note of when making a deposit
When making a deposit, do take note of the tips below.
- Only deposit from your own bank account. Transfer from a third party is not allowed.
- Keep a copy of your deposits for future reference.
- You’ll receive an email notification from KDI when you’ve successfully made the transfer.
KDI Invest Performance 2023
This Kenanga Digital Investing review would be incomplete without mentioning its portfolio performance.
Below I share my latest KDI Invest portfolio performance, as of mid-2023.
The portfolio above includes the RM10 sign-up bonus when I registered through an existing KDI user’s referral link. And also includes sign-up bonuses from my KDI referral link.
Similar to some of my other investments, my KDI Invest performance is affected by the current sluggish growth worldwide.
I shall update my KDI Invest portfolio performance from time to time.
As a new Robo-advisor in the country, Kenanga Digital Investing offers an affordable and flexible investing opportunity for both new and experienced investors.
The KDI Invest’s RM3,000 free investing and KDI Save’s 3.5% per annum promotional rate are great starting points.
If you are planning to register for KDI, sign-up using my KDI referral link or referral code <101669> for the free RM10 rewards.
All screenshots were taken by the author