Good q. I also have no idea. At least can plan how much balance to have for optimum return.

the PSR columns are just the profit ratio split between you and the bank. this is based on Islamic banking methodology and the concept of profit sharing, how profits are recognised as income by the bank and how profits are distributed.

the indicative % is still the same as Savers, just that <RM2,000 will also get 0.4% pa.

i have no idea nor studied whether Savers-i consistently giving 2.1%/2.3% pa, hence the term "indicative". assuming Savers-i gives 2.1%/2.3% pa, then it's comparable with Savers.

here's a simpler comparison for the interest %

Credit Balance	Savers	Savers-i*
Below RM2,000	-	0.40% p.a.
RM2,000 to RM50,000	2.10% p.a.	2.10% p.a.
Above RM50,000	2.30% p.a.	2.30% p.a.

*Indicative, based on PSR

If I have RM10k in Savers-i, (i) entire 10k @ 2.10% or (ii) 2k @ 0.40% + 8k @ 2.10%?

entire balance

2.75 is low for FD

So basically;
If I put RM10k into the Savers account I'll get -

2.1/100/365 x 30 days x RM10k - RM34 a month = RM414 at the end of the year?

Is this formula correct?

Yup

Very good rate indeed. Some more not locked like FD.

For those wan high rate and liquidity. This is the best choice.

Open n close a/c anywhere u wish instead of q at branch

Really ease of use.

I was also wondering about this Savers-i Account. The indicative dividend rate for RM2k > RM50k savings is 2.1% p.a. based on the Profit Sharing Ratio of 5% Depositor and 95% Bank.

So this 2.1% p.a. is equivalent to 5% Depositor's profit?
Or is it the Depositor will only get 5% from the 2.1% dividend?

I tried to find their terms and conditions, but can't find any.....

2.1% p.a. is derived after the PSR split. no idea how it came about, but for customer's point-of-view, 2.1.% p.a. is the number to look at

This post has been edited by cybpsych: Mar 31 2014, 04:09 PM

2.1 to 2.3 is good rate without worry lock in like fixed deposit.

yep!

to maximize the interest, tell the company's Payroll to credit the monthly pay to this Savers account. Wait till the due dates for your bills, loans, etc. before paying them.

this way, you dont lose much daily interest. yeah, kiasu me

once Savers reach a comfortable amount (e.g. RM10-20K) and you dont need to utilize fund in near future, either go for eFD (short-term like 6 months) or take it out to traditional FD (BR or Affin for 1-2 year tenure).

With this account, ur money more liquidity and only sacrifice a bit of interest compared to FD.

Exactly

Was informed based on ntire balance instead of tier balance

correct. I just confirmed with Maybank.

Interest is calculated on a daily basis for the entire balance of each day; and credited on a monthly basis.

As long as your daily balance >RM2K, you'll get the interest. Any days with <RM2K balance, no interest (except for Savers-i).

this is good cuz if you can withhold as much money in it for as long as possible, you'll gain. of course, with the flexibility of withdrawal, daily interest will be lowered accordingly.

now thinking to ask my payroll to bank-in my monthly pay into Savers Account instead. At least i dont have to keep transfering money from Wadiah -> Savers each month.

Formula is correct but answer is wrong