Good time to buy stock instead of saving money in bank...

How do they work actually?

Call up customer service and asked for statement date to be 1st of every month and payment date to be 20+ every month. Make your life easier. Less complicated.

This is what I will do. On statement date, Deposit RM1000 into 1 month eFD (ambank islamic). From current statement date until next statement date, it is about 1 month. The eFD will matured on the statement date. Withdraw and put into M2Savers/Ambank True Savers to earn high interest as one is usually only given 20 days from statement day to payment date to pay. On payment date, withdraw from M2Savers/Ambank True Savers and settle your bills in full

Repeat the above cycle by depositing fresh RM1000 on statement date. Know the maximum that you will spend in a month and set aside some money for that. Banks should work for the individual and not the individual works for the bank.

The above are egs which are done using internet banking which will not use up your petrol to run to the bank or to find parking space. So if you want to factor the cost of IBFT, it will cost RM0.53. You can deduct the IBFT cost from the final later on. (only use IBFT if you need to)

This post has been edited by Ramjade: Aug 23 2015, 04:38 PM

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Very good for cards like HLB WISE or any card which have max CB limits. Learned that Gen-X's blog but with my own modification (Ambank TrueSavers)

What is the minimum balance that should be maintained for Maybank Wadiah Saving Account (no annual fee), to avoid service or maintenance charge being charged?

RM20, iirc

Thanks, cklimm.

I was thinking to reduce the amount in Wadiah Saving Account as much as possible, and transfer the excess amount to M2U Savers. Clearly, that is not possible, without incurring service charge.

Before opening M2U Savers in M2U website, we need to have a existing Maybank saving account. After opening M2U Savers, can we close the Maybank saving account, leaving only M2U Savers intact?

I have a normal savings account with them, and it only have RM7+. There's about RM300+ in M2Savers. Rest is in 1 month Maybank Islamic eFD, Ambank Truesavers. Normally I leave RM6+ inside. Until now no service charge (2 months already). How can they charge you if your account have no money? No you cannot close the savings account. Just try to move as much possible and experiment what's the lowest limit before they prevent you from moving.
Maybe is because I still have money in M2Savers. Hence no SC. Just try calling customer service and find out and share here.

Ambank Truesavers earn you 2.8% vs M2Savers of only 2.25%. In addition Ambank Truesavers give you 2.8% interest regardless of how much you have. M2Savers only give you interest if your money is >RM2000.

Plan your transcation well with Ambank as the Truetransect allow you to have unlimited free IBGs. Truesavers only let you withdraw/transfer maximum 3x/month. After that, you have to pay them.

Hong Leong Islamic Bank Deposit-i: Switch your payroll account to Hong Leong Islamic Savings Account-i [ HLISB | T&Cs ]
15 Sep 2015 - 30 Nov 2015

never ever think for one moment savings account can make you money. Most of the time inflation will beat any rates saving accounts make

Anyone knows any SA that offer higher rate than MBSB's 3.3%?

This post has been edited by HJebat: Sep 24 2015, 12:46 AM

Hong Leong Bank: Deposits - New Branch Opening Specials [ HLB | T&Cs (EN) | T&Cs (BM) | T&Cs (CN) ]
2 Oct 2015 - 30 Oct 2015

Come visit us for branch opening specials, gifts and more.

cybpsych any other banks offer higher interest for their savings account than ambank Truesavers?

you would know better, right?

Actually I might have overlook some bank. Some bank in malaysia don't have info on their website. That's why I am asking since you have been posting promos, you might know a thing or two.

Seeing that banks in malaysia like maybank, hlb, cimb, ocbc, ambank have their own savers account (not ordinary account), I am guessing that there might be other banks which give better interest rates than ambank that I have overlook. Do you happen to know of any?

Ambank Eyes 60,000 New Retail Banking Accounts By March 2016
http://www.bernama.com/bernama/v8/bu/newsb....php?id=1174082

Official launch by AmBank

i dont know either. hardly compare them. just know some of the banks that you've already known.

no point keeping so many CASA accounts. tedious to maintain. i just came back from PBB to reactivate my dormant SA due to inactivity for the past year. wanna close it altogether, but still need it for interest crediting purposes.

Revision of deposit rates wef 1st Oct
http://www.affinbank.com.my/General/Notice...1102015-en.aspx