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 Maybank m2u savers 2.1% pa, 2 gud 2 b true 4 savings acc?

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CutieAppLe
post Jun 27 2011, 09:16 AM

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QUOTE(aeiou228 @ Jun 23 2011, 03:06 PM)
No it isn't the best.

The best deposit rate in Malaysia with unlimited free withdrawals/deposit and interest calculated daily is EON bank Hi-Flexi. If your balance exceed RM50k at any day, you will get similar to 3 month FD rate which is 2.90% currently. 

For those who don't have RM50K, go for the second best with CIMB Money Multiplier Account at 2.50% for deposit balance above RM10k.
3 FREE withdrawals a month (subsequent withdrawals would be charged RM5).
No monthly maintenance fee.
These types of deposit account are most suitable for business people, market punters, IPO players, property flippers etc etc or in short for people who always mobilize their funds whenever there is an ad hoc money making opportunity.
Tell me which bank offers better than EON bank with features like saving accounts and I shall give you a small reward.
Added on June 23, 2011, 3:17 pmBy the way, don't be fooled by Affin's rates. is a tiered rates. I just confirmed with puchong branch yesterday. unless you open plus2 account but I have not reach 50 years old yet.
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Let me tell you, CIMB air asia savers account is much more better than all of you said.
minimum req to open bank account wil be rm 50.
There will be *High interest rate of 1.60%, up to 2.80% p.a. (inclusive of the RM5 cash rebate if average balances of at least RM5,000 with no over-the-counter transaction in any day of the month).*

and for those always book air tic, this is the privilage to bid the tic and get the cheaper rate.
for more information, please refer to http://www.cimbbank.com.my/index.php?ch=cb...2&tpt=cimb_bank

and if you have 10k or more, better you keep as FD, the interest rate at least have 3.2% and above.


CutieAppLe
post Jun 28 2011, 04:45 PM

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QUOTE(jack2 @ Jun 27 2011, 10:22 AM)
You mislead everyone that the up to 2.8% is the percentage calculation on minimum requirement of RM5k in which they pay you RM5 a month if balance > RM5k and no over counter transactions.

Example, I save RM5k and maintain RM5k balance for the next 12 months.

The interest I will receive is:-

RM5k x 1.6% = RM80
Additional RM5 = RM5 x 12 = RM60

Total = RM140

Interest % = RM140 / RM5000 = 2.8%

However, for those who saves more than RM5k a month, if you divide the total interest/income received over your deposit, you won't get 2.8% already.

So the effective interest rate is not 2.8% anymore if your balance saved is > RM5k.

Anyway, Eon Bank is still the best for those who wants to save with more than RM50k.
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your way of calculate is correct
but they will provide the 1.6% add rm 5, if you save more than 5k, anyway it is still better than other normal saving account.
if the balance > 5k or >10k i will suggest put in FD..as FD 5k for 1 mth can get 3.0% interest at least.
savings acccount is not tat worth if you aim for the interest.
CutieAppLe
post Jul 1 2011, 12:18 PM

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QUOTE(gerrardling @ Jun 28 2011, 07:50 PM)
cash rebate means they wont credited the interest into ur account ?
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the interest will bank in to our account at the end of mths and the RM 5 is bank in as incentives.

 

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