QUOTE(Shoot@M3 @ Dec 14 2015, 11:23 AM)
I know that the interest rate of Ambank True Savers of 2.8% per annum is much higher than the one for Maybank M2U Savers of 2.25 % per annum. Since Ambank does not provide the option of instant interbank fund transfer, I am less inclined to keep my money in Ambank True Savers.I know that Ramjade may dislike what I am going to say, as Ramjade is a strong advocate of Ambank True Savers. Anyway, here goes my opinion.
I may get higher interest in Ambank True Savers, but I cannot instantly transfer it to other bank. The slower Interbank Giro(IBG) requires a few hour of clearing, and it is not applicable non-working days.
That is why I do not keep much money in Ambank True Savers, to ensure that my money is always accessible from other bank, should the need arise. The tiny amount of money that I keep in Ambank True Savers is the money that I am 100 % sure that I do not need to use in the near future.
Yes, I am giving free money to Maybank, but what can I do? We cannot have the best of everything, right?
This post has been edited by kart: Dec 25 2015, 04:33 AM