Oct 19 2015, 04:15 PM
QUOTE(laymank @ Oct 19 2015, 02:59 PM)
In that case, I would counter recommend you other solutions which may be a more effective solution for your case.
Deposits/Fixed Deposits
- Consider FD offers from Maybank, Public Bank, RHB Bank and MACH (sub of HongLeong bank). They generally offers >3.5% p.a. return for your FD.
- For MACH, the FD allows early withdrawal which will not affect the undrawn amount. So you get to enjoy high interest FD and flexibility of partial FD withdrawal.
- For PPL, you may consider VI or Signature cards from Maybank that offers not just the principle, but also the supplementary card holders access to PPL, Green Market in Malaysia.
- Maybank Signature card also gives you 5% cashback on groceries and petrol everyday, up to a cap of RM88 per month.
thanks for the suggestion. i am not sure about the effectiveness of the FD roll. i only roll 20-30k a month through the accounts. if i store the money in a FD vs. a hybrid account I gain say 3% p.a. interest (or downscaled to monthly interest of 0,25%). if i use the 2% flat cashback would that not outperform the FD? i might be missing an essential point here - am i?Deposits/Fixed Deposits
- Consider FD offers from Maybank, Public Bank, RHB Bank and MACH (sub of HongLeong bank). They generally offers >3.5% p.a. return for your FD.
- For MACH, the FD allows early withdrawal which will not affect the undrawn amount. So you get to enjoy high interest FD and flexibility of partial FD withdrawal.
- For PPL, you may consider VI or Signature cards from Maybank that offers not just the principle, but also the supplementary card holders access to PPL, Green Market in Malaysia.
- Maybank Signature card also gives you 5% cashback on groceries and petrol everyday, up to a cap of RM88 per month.
I will absolutely look into the Maybank cards, I already submitted an inquiry to them. I have next to no exposure with Maybank (only a 15 yr old savings account that rolls around 1500 RM per month incoming and out). I was looking at the signature card mostly due to the PPL and the CB for groceries and petrol. will have to see if my spending pattern will be sufficient to maintain the card if i go heavily on the premier account. the CB i can easily max out but that only will be 21120 RM. so i would probably be 8000 short. the normal cashback is just a measly 0,25% so total effective CB is reduced to 1078,2 / 30000 = 3,6% but that is still pretty darn good.
i am currently trying to work out if the balance needed can be uitilised with other low-performing payments such as medical insurance premiums (through installment plan - hello AXA), government transactions etc. - might just work. i just hate having to juggle more than two cards again.
EDIT: quick note of thanks for the maybank suggestion. i send the application and just got a approval for the signature already. that was really fast
.This post has been edited by PJusa: Oct 19 2015, 05:07 PM
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