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

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almeizer
post Jul 15 2013, 11:09 PM

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QUOTE(Bryan LSC @ Jun 23 2011, 07:36 PM)
Here's the analysis of the three high-interest savings account wink.gif

a) EON Bank High Flexi Savings Account
Balance (RM)     Rates (p.a.)
Up to RM5,000          0.00%
Up to RM10,000          0.10%
Up to RM20,000          0.30%
Up to RM50,000          0.50%
Above RM50,000  2.90%

b) CIMB Money Multiplier Account
Daily interest (2.5% pa) will be paid on entire daily balances provided the balance exceeds RM10,000 on any given day

c) m2u Savers
Minimum Initial Deposit:                  RM250
Minimum balance to enjoy interest:  RM2,000
Minimum balance to maintain:          RM250

m2u Interest Rates:
RM2000 to RM50,000 2.10%p.a
Above RM50,000 2.30%p.a

CONCLUSION: I believe for starters/fresh grad like me, M2U savers is the one to go for, coz it only requires RM250 as min initial deposit and RM2000 monthly balance to enjoy the 2.1% p.a. Then, once it exceed RM10,000, can consider changing it to CIMB Money Multiplier to get the 2.5% pa. Lastly, when it exceeds RM50,000, can put into EON High Flexi to get the 2.9% pa interest!  thumbup.gif I seem like a dreamer...  hmm.gif
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Would like to quote back the summary that Bryan provided last 2 years and hope it still applies till today.

Just to share, beside saving account, CIMB do have trading account that calculate interest daily with 2.6% P.A. It's iTrade CIMB.

Deposit or withdrawal between the trading account and saving/current account (CIMB) only took 1 or 2 working days. No minimum amount to maintain. Currently I'm not using the trading account (cause I trade in SG now) but I have RM70+ and getting interest every month.

http://www.itradecimb.com.my/index.php?ch=...ia_notice&ac=22

This post has been edited by almeizer: Jul 15 2013, 11:12 PM
almeizer
post Jul 20 2013, 06:04 PM

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QUOTE(NewGUY @ Jul 17 2013, 10:37 AM)
Actually ppl can maintain 5k, can choose CIMB Air Asia, following their T&C can get 1.6 to 2.5 PA..

But their cheque deposit service very bad, I go 3 banks at same day, all the machines not working, experience many times, complain few times....

I m noob with this account with trade account, if just open for the the interest, is it function as a normal account, of cos money can transfer between normal account....
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iTrade CIMB trading account is not normal account which mean no ATM card or debit card. It only use for trading in stock market. With the money in trading account, it will be the limit for you to buy stock.

 

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