Yeah, what more to talk about?

Important Notice: Reclassification of Wadi’ah Yad Dhamanah to Qard [ Maybank ]

Dear Valued Customers,

Pursuant to the enforcement of the Islamic Financial Services Act 2013 (“IFSA”), all Islamic Financial Institutions are required to reclassify its existing Islamic products and services in accordance with the transition requirements prescribed by Bank Negara Malaysia (“BNM”). Under IFSA, our existing Wadi’ah-based (safe keeping with guarantee) products will be reclassified to Qard-based (loan) with effect from 7 October 2017 (“Effective Date”).

Qard refers to a contract of lending where customer will lend money to the Bank as a loan where repayment of equivalent replacement amount is guaranteed by the Bank and the Bank has the right to utilise the money for its banking activities.

The applicable products are as follows :



Please note that this exercise will be carried out at no costs to you. Your account number(s) will remain unchanged and you may continue to operate the account(s) together with all existing facilities and services as usual.

Your account(s) will continue to be protected by the Perbadanan Insurans Deposit Malaysia (PIDM).

Should you wish to explore other alternatives, kindly visit our branches before the Effective Date for assistance. For more details, please logon to www.maybank2u.com.my for our Frequently Asked Questions (“FAQ”) on this exercise.

• Notice for Reclassification of Wadi’ah-based to Qard-based
• Frequently Asked Question
• Terms & Conditions Governing Deposit Accounts for Islamic Banking

We acknowledge your continuous support in banking with us.

Thank you.

I think this only affect savers-i customers rite?

is savers-i still giving out interest?

yep, got it on 1 Sep for Aug balances.

just change name only..

Hi, anyone knows if M2U savers must be created during working hours only?

I created one for my dad just now, may be at 5.10pm, it showed unsuccessful and session timeout. Next try, it said one person can only create one but no M2U saver account is showed under "online banking'.

Minimum just RM1 can open account, is there something wrong? I just tried open M2U Savers-i with RM1.

Who knows

may i know what is the different between normal maybank saving account with this m2u savers? how to abuse this 'higher-tiered' interest account?

Normal maybank account pay you peanuts (negligible). While M2u savers pay you interest 2%p.a if you have RM2k inside. To open account, you need min RM250 inside. Which means RM250 is stuck inside. Should you have have RM1999, you won't earn anything.

Is it good?
Yes. Previously was good.

Are there better stuff?
Of course. All you need to do is research. You can get up to 3.5x% if you choose other place to park your money. That's at least 1.5% different if you compare against M2u savers

Eh? why only previously was good? Now not good already?

i was thinking to find an account to store the emergency /rainy day funds. What do you mean by RM250 stuck inside? The money into this account cannot withdraw one?

May i know which bank give 3.5% with the same liquidity?

Why last time good and now no good?
Last time, they were the only one with super high interest account. Nowadays got so many which beat them.

Yes. RM250 cannot be withdraw.

Looks like I have to do your homework for you.
Phillip money market fund-3.53%p.a
Amanah saham fixed price fund-6%p.a but you need to go to bank whenever you want to make a withdrawal.

Yea, I know about ASNB but the downside is that need to do withdrawal over the counter only and most importantly, need to spam for units.

I never heard of PMMMF but it seems to be a good place to park money but i dont think its capital guarantee since its still a fund (same goes to asnb)

A minor inconvenience considering that so many banks are not agent.

Not if you follow asnb thread. That's when you will know when to spam.

It invest in FD. If you want capital guaranteed, good luck. PIDM doesn't have enough cash to pay if a bank defaulted. Sometimes you need to let go of capital guaranteed.

Why the Maybank2u Savers interest rate did not increase ?

Just checked Maybank website it remains the same at 2.00% and 2.20%

1) maybank slow to update their websitr
2) they could have choose not to increase the interest rate.

curious, as a fresh grad I have a choice to open a bank acc with Maybank or CIMB for salary purposes. Is this Maybank2u Savers still a liable option? I have also seen this e-GIA mentioned but now its called GIA-i? is it the same?

Nope. Better stuff exist than m2savers.
Egia is also useless now. Avoid.

forget about GIA/e-GIA.

for normal Savings Account, either MBB or CIMB is ok for a start. ppl prefer either one due to accessibility and services available (e.g. mobile app).

m2u savers still ok. not high interest but still a decent one for monthly savings. do read thru the features and T&C.

once you're getting the hang of doing banking and its services, you can try to learn more of other type of savings/low-risk investment account that gives higher interest but with certain condition to meet. keep building the knowledge and you'll find there are many options out there.