Gotten my march interest liao.

Did a daily interest calculation in Excel against daily closing balance. Almost matched the actual interest credited.

One thing I noticed is the month-end interest is not calculated with the acct balance. It's credited after the interest has been calculated.

Same here. I just opened my Savers-i account yesterday and today already got dividend for march.
The total dividend works out to 2.09% per annum. So i guess their indicative dividend rate of 2.1% pa is pretty accurate.

at least got something back from a savings account. not much but not bad either.

that one already discussed in FD topic last month

wow....as expected....marketing tactics only.... im really familiar with maybank....no way they gonna pay that much

LEL 8.88 percent per year? thats crazy.. even higher than EPF.. impossible i guess, surely got its own catch, TNC behind.

Hi guy hope it's ok I ask this here. At atm what's the difference between cash deposit & cash payment??

single online account can open islamic and conventional type of m2u saver?

Cash Deposit is meant for depositing cash or fund to a banking account (saving/current).

Cash Payment is meant for depositing cash or fund to a loan or CC account.

I suggest to maintain at least 2k in account so that the account is active and receive interest. otherwise the likehood the account become dormant and you need to re-activate them

if M2U Savers is your primary account for monthly pay crediting and paying off CC/bills, then it'll be safer

btw you can pay bills and CC via M2U savers? i thought this account only link with the main account.

The only 'link' is when creating a new Savers account. You need an existing conventional savings account (e.g. Wadiah) to create it. After that, Savers will just be like any other savings account.

you can do everything with it, e.g. fund transfer, pay bills/cc, ATM withdrawal (not Fast Cash), etc.

oh good tips

Noob question.

The monthly return of lets say rm10000 @ 2.1% annually is just almost nothing, should be use on else where for better return? Without more initial fund, should I even bother at all?

A Venti-sized Starbucks Frappuccino is nothing ??

So I put aside 10k for free frappuccino each month?

Well, this savings account is not for investment. If you have spare money that is laying around with nothing better to do, then at least you should've put it in the FD. You'll get 3% p.a.

If you are a Bumi, then put it in ASB. Get 8% p.a.

If you are feeling lucky, can go to casino.

But if you really wanna invest, then study up the stock market. That is where rich people make their money, aside from business and real estate.

Anyway, I personally just use this savings account to keep my cash for daily expenses. Any extra money will straight go into my stock market portfolio.

Yes, 2.1% annually is just almost nothing. But it is definitely more than 0.5% annually which I get from normal saving account. It does makes a different, but just a small one.

This post has been edited by Nidz: May 30 2014, 04:31 PM

No. As Nidz said, this is a savings account and many people do keep RM10k+ in their savings account. People keep RM10k+ in their savings account for so many different reasons and this M2U is one of the very few savings account that actually gives you such a high interest rate.



This post has been edited by MilesAndMore: May 30 2014, 04:45 PM

Thanks for explaining that.