Savings Account in Malaysia
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 Apr 12 2018, 11:41 AM
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Senior Member
4,672 posts Joined: Nov 2016 
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QUOTE(Ramjade @ Apr 12 2018, 11:15 AM) So there you have the answer. Why should they continue giving igh interest rate FD rates when they can give you peanut rate? I mean since already having lower interest rate, why force to convert PSA which imposed annual fee for those who do not take up any other Maybank One product.  |
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Apr 12 2018, 11:47 AM
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All Stars
24,358 posts Joined: Feb 2011 
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QUOTE(#Victor @ Apr 12 2018, 11:41 AM) I mean since already having lower interest rate, why force to convert PSA which imposed annual fee for those who do not take up any other Maybank One product. Cause there might be some people who are taking advantage of Maybank by furfilling that criteria. Thus maybank have to fork out more money to pay interest. Just convert to free BSA. No need tp pay fees or take up their one stuff.Extra fee is what the banks hope you won't miss. |
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Apr 12 2018, 12:07 PM
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Senior Member
4,672 posts Joined: Nov 2016
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QUOTE(Ramjade @ Apr 12 2018, 11:47 AM) Cause there might be some people who are taking advantage of Maybank by furfilling that criteria. Thus maybank have to fork out more money to pay interest. Just convert to free BSA. No need tp pay fees or take up their one stuff. Are u using Personal Saver/ Personal Saver-i Account currently? U mean after they reclassified to PSA, I convert to BSA again to opt for non annual fees? Because currently already opt for non annual fees for imteen Account and saw the T&C for PSA required annual fee unless fulfill the criteria by taking up any other Maybank One product.Extra fee is what the banks hope you won't miss. Waiting reply from Maybank regarding the annual fee imposed on PSA for those who do not take up any other Maybank One product. 12. An annual fee of RM8.00 is imposed on customers who do not take up any other Maybank One product. Terms and Conditions for Personal Saver Account |
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Apr 12 2018, 12:13 PM
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Junior Member
201 posts Joined: Aug 2012
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QUOTE(Ramjade @ Apr 12 2018, 11:47 AM) Cause there might be some people who are taking advantage of Maybank by furfilling that criteria. Thus maybank have to fork out more money to pay interest. Just convert to free BSA. No need tp pay fees or take up their one stuff. izit easier for us convert to BSA?Extra fee is what the banks hope you won't miss. got it from mbb facebook: Kindly be informed that the bank are not able to change the account to Basic Savings Account. Normally, for the existing savings account holder, they're not able to open another savings account without any acceptable reasons. You could walk in to the branch to apply for the account opening, however, the approval is subject to the processing and management decision. |
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Apr 12 2018, 12:29 PM
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Senior Member
4,672 posts Joined: Nov 2016
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QUOTE(shuangping @ Apr 12 2018, 12:13 PM) izit easier for us convert to BSA? Yea, got the same copy & paste reply from them. I don't really get the exact answer where my question is will the RM8 annual fee be imposed when classified to PSA instead they reply me this:got it from mbb facebook: Kindly be informed that the bank are not able to change the account to Basic Savings Account. Normally, for the existing savings account holder, they're not able to open another savings account without any acceptable reasons. You could walk in to the branch to apply for the account opening, however, the approval is subject to the processing and management decision. Hi, good afternoon & thank you for reaching out to us. Kindly be informed, there's only ATM charges which is RM8.00 annual fee per ATM card to enjoy unlimited withdrawals per year. The exercise of the reclassification are meant for all imteen/imteen-i Account & it will commence automatically. Just to highlight, imteen/imteen-i Account is an account meant and designed especially for teenagers aged 12 to 18 years old. Even though it offers benefits such as higher interest and free Personal Accident coverage (for conventional account), these benefits are no longer applicable once the account holder reaching 18 years old. Personal Saver/Personal Saver-i account is a more suitable account for young adult/ adult customers aged 18 years old and above with superior benefits e.g. extended internet banking (Maybank2u), access to Maybank One Solution, and cashless shopping via Maybankard Visa Debit. The account number will remain unchanged and you may continue to operate the account with all existing services of the account as usual. Hope this clarifies, thank you. Generally, the annual fee is only imposed for the ATM/Debit card yearly annual fee only, which is will be charged RM8.48 (including 6% GST) per year. Thank you. |
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Apr 12 2018, 12:31 PM
Show posts by this member only | IPv6 | Post
#426
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All Stars
24,358 posts Joined: Feb 2011
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QUOTE(#Victor @ Apr 12 2018, 12:07 PM) Are u using Personal Saver/ Personal Saver-i Account currently? U mean after they reclassified to PSA, I convert to BSA again to opt for non annual fees? Because currently already opt for non annual fees for imteen Account and saw the T&C for PSA required annual fee unless fulfill the criteria by taking up any other Maybank One product. I use wadiah saving account (now call Savers-i) and BSA. Converted my wadiah to free wadiah and have been free ever since. Waiting reply from Maybank regarding the annual fee imposed on PSA for those who do not take up any other Maybank One product. 12. An annual fee of RM8.00 is imposed on customers who do not take up any other Maybank One product. Terms and Conditions for Personal Saver Account For cimb, previously was on Cimb air Asia saver. Since they don't let me convert to free BSA, I just close account and open a free BSA account. QUOTE(shuangping @ Apr 12 2018, 12:13 PM) izit easier for us convert to BSA? If they don't let you convert, just apply for free BSA. Close current account. Issue solve.got it from mbb facebook: Kindly be informed that the bank are not able to change the account to Basic Savings Account. Normally, for the existing savings account holder, they're not able to open another savings account without any acceptable reasons. You could walk in to the branch to apply for the account opening, however, the approval is subject to the processing and management decision. |
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Apr 12 2018, 12:53 PM
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Senior Member
4,672 posts Joined: Nov 2016
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QUOTE(Ramjade @ Apr 12 2018, 12:31 PM) I use wadiah saving account (now call Savers-i) and BSA. Converted my wadiah to free wadiah and have been free ever since. Savers-i is virtual account without linked to any branch right? It cannot be main account if u do not have any existing Maybank SA.For cimb, previously was on Cimb air Asia saver. Since they don't let me convert to free BSA, I just close account and open a free BSA account. What do u mean convert it to free when it already free if u don't opt for unlimited withdrawal? I used to have CIMB too and ended up closing all the accounts and withdraw all products from CIMB due to the request for change / reopen free BSA where they kick me like a ball. QUOTE(Ramjade @ Apr 12 2018, 12:31 PM) If they don't let you convert, just apply for free BSA. Close current account. Issue solve. Already told not allowed to convert to BSA from previous reply.  Closing account will create a lot trouble since the current account having SI and crediting facilities. Actually annual fee for unlimited withdrawal option is tied to card or SA? My story with HLB BSA where initially they told cannot convert to BSA: » Click to show Spoiler - click again to hide... « |
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Apr 12 2018, 01:22 PM
Show posts by this member only | IPv6 | Post
#428
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All Stars
24,358 posts Joined: Feb 2011
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QUOTE(#Victor @ Apr 12 2018, 12:53 PM) Savers-i is virtual account without linked to any branch right? It cannot be main account if u do not have any existing Maybank SA. Correction name is savings account-I. Is not the online virtual account maybank Savers. Savings account-i have both paid and free. I was on the paid one and I said enough is enough. Not going to give banks free money. So I decide to see if can switch to the free version. I don't need unlimited withdrawal as I planned my withdrawal carefully so that I don't end up paying penalty to banks. What do u mean convert it to free when it already free if u don't opt for unlimited withdrawal? I used to have CIMB too and ended up closing all the accounts and withdraw all products from CIMB due to the request for change / reopen free BSA where they kick me like a ball. Already told not allowed to convert to BSA from previous reply. Closing account will create a lot trouble since the current account having SI and crediting facilities. Actually annual fee for unlimited withdrawal option is tied to card or SA? My story with HLB BSA where initially they told cannot convert to BSA: » Click to show Spoiler - click again to hide... « Besides I don't withdraw much also. Even if I don't plan, I already fulfilled the below min threshold for those free account so might as well take up the free acciunt Your only option 1) open new account, transfer all SI to the new free account. 2) suck it up and continue paying the banks. -I chose option 1 before started working so that (currently still loan free) I don't need ed to give banks free money. Tied to SA. Got nothing to do with card. The card all the same card. |
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Apr 12 2018, 06:46 PM
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Senior Member
4,672 posts Joined: Nov 2016
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QUOTE(Ramjade @ Apr 12 2018, 01:22 PM) Correction name is savings account-I. Is not the online virtual account maybank Savers. Savings account-i have both paid and free. I was on the paid one and I said enough is enough. Not going to give banks free money. So I decide to see if can switch to the free version. I don't need unlimited withdrawal as I planned my withdrawal carefully so that I don't end up paying penalty to banks. Got reply from Maybank, at first they say the annual fee can be terminated, then I asked to confirm again. End up was told it will follow back whatever settings from previous account for the reclassification.Besides I don't withdraw much also. Even if I don't plan, I already fulfilled the below min threshold for those free account so might as well take up the free acciunt Your only option 1) open new account, transfer all SI to the new free account. 2) suck it up and continue paying the banks. -I chose option 1 before started working so that (currently still loan free) I don't need ed to give banks free money. Tied to SA. Got nothing to do with card. The card all the same card. → Not to worry, we have checked on the charges with the relevant department. Yes, you may request for termination of the said subscription (RM8.48) at our nearest branch. Please bring along your IC & ATM card. However, service fee of RM0.53 (including 6% GST) for fifth withdrawal and above in a month will be imposed. [Free first four (4) cash withdrawals in a month at any Maybank ATM.] → Generally, the ATM service charge fee will follow as your previous ATM card. If there is no unlimited ATM withdrawal facility set, it will not change even when the account is being reclassified. → As per checking, the terms and condition do not affect the reclassification account. It will follow the previous Imteen ATM card facility. |
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Apr 13 2018, 05:06 PM
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#430
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Junior Member
507 posts Joined: Jun 2015
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New savings account from OCBC - Booster Account
Balances below 30k - 0.25% p.a. Balances of 30k & above - 3.25% p.a. https://www.ocbc.com.my/personal-banking/Ac...ster/index.html There is a Wealth Bonus promo going on as well. |
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Apr 20 2018, 09:14 PM
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All Stars
65,312 posts Joined: Jan 2003
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HLB: Revision of Interest Rates for Conventional Fixed Deposits and Current / Savings Account
Dear Valued Customers, With effect from 23 April 2018, the interest rates on the below accounts will be revised... https://www.hlb.com.my/en/personal-banking/...l-fd-ca-sa.html **note: long list** |
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Apr 25 2018, 11:05 PM
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#432
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Junior Member
100 posts Joined: Oct 2011
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Maybank has Maybank2u Savers account which has 2% pa interest just have to maintain 2k balance and that's all you need to fulfilled any other requirement. This account can open almost instantly through an existing m2u account.
I think it's good when you just need to park your money temporary / short period of time while getting decent interest from SA. http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts |
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Apr 25 2018, 11:11 PM
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All Stars
24,358 posts Joined: Feb 2011
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QUOTE(hong823 @ Apr 25 2018, 11:05 PM) Maybank has Maybank2u Savers account which has 2% pa interest just have to maintain 2k balance and that's all you need to fulfilled any other requirement. This account can open almost instantly through an existing m2u account. M2savers use to be good. Not anymore. Now there are better options available.I think it's good when you just need to park your money temporary / short period of time while getting decent interest from SA. http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts |
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Apr 26 2018, 12:41 AM
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Junior Member
100 posts Joined: Oct 2011
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QUOTE(Ramjade @ Apr 25 2018, 11:11 PM) M2savers use to be good. Not anymore. Now there are better options available. What is the other better options?  Do you mean ASNB?This post has been edited by hong823: Apr 26 2018, 12:42 AM |
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Apr 26 2018, 08:07 AM
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All Stars
24,358 posts Joined: Feb 2011
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QUOTE(hong823 @ Apr 26 2018, 12:41 AM) What is the other better options? :confused: Do you mean ASNB? In the following order1.Phillip money market fund 2. OCBC 360 |
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May 2 2018, 10:36 PM
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Senior Member
5,907 posts Joined: Dec 2012 From: Taiping,Perak
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QUOTE(cybpsych @ Jan 26 2018, 01:15 AM) Alliance SavePlus Account Anybody knows if this still valid? their website stated until 30th april onlyhttps://www.alliancebank.com.my/banking/per...us-account.aspx https://ringgitplus.com/en/blog/Sponsored/G...aw-Anytime.html Alliance SavePlus Account is a current account that lets you enjoy high interest rates on your total account balances and a waiver for all transaction fees**.  As you can see, with the Alliance SavePlus Account, all you have to do is sit back, relax and watch your money grow. It is most ideal to have your money work for you, while still having access to it for everyday use without incurring any penalties. As every cent counts, getting a waiver on transaction and withdrawal fees is super helpful too. Now you don’t have to worry about paying RM0.50 for each instant transfer or RM1.00 for each ATM withdrawal. All you need to do is maintain a minimum balance RM10,000 in your account, and you will automatically be eligible for all these perks! From now until 30 April 2018, customers who sign up for an Alliance SavePlus Account will receive a complimentary* RM40 petrol gift card. It’s so easy! Just walk in to your nearest Alliance Bank branch to participate in this promotion! In conjunction with the upcoming festive celebration, selected Alliance Bank branches will be open on 27 January 2018 (Saturday) from 9.30am to 2.30pm to cater to your banking needs. Visit us to open an Alliance SavePlus Account and enjoy light refreshments, as well as other exciting activities such as Ang Pow Packet Giveaway**. But wait! Just for one day on 27 January 2018, new Alliance SavePlus Account customers also get to enjoy the maximum interest rate of 3% for the first month, with just a deposit of RM1,000! *Terms & Conditions apply. **While stocks last |
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Jun 21 2018, 08:59 PM
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All Stars
65,312 posts Joined: Jan 2003
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AmBank Junior Savings Campaign
https://www.ambank.com.my/eng/promotions-pa...nkJuniorSavings Click here for full terms and conditions.  |
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Jun 27 2018, 07:31 PM
Show posts by this member only | IPv6 | Post
#438
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Junior Member
65 posts Joined: Jan 2017
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Today I went to one of the Maybank branch to create a saving account. Before that I've checked their website and decided to create Basic Saving Account but they create Saving Account-i instead for me. (Yes I'm a Muslim)
So here's the question, can I go again to Maybank branch to create BSA (the conventional one) and delete the one that they created before or there is some regulation that all Muslim in this country will get the islamic account one no matter what kind of account they create? Also, can I create the mentioned account at Maybank branch that far from my house but closer to my university I study at? This post has been edited by Unknown69: Jun 27 2018, 07:33 PM |
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Jun 27 2018, 07:50 PM
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All Stars
24,358 posts Joined: Feb 2011
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QUOTE(Unknown69 @ Jun 27 2018, 07:31 PM) Today I went to one of the Maybank branch to create a saving account. Before that I've checked their website and decided to create Basic Saving Account but they create Saving Account-i instead for me. (Yes I'm a Muslim) Yes can. No hard and fast rule must use islamic account. So here's the question, can I go again to Maybank branch to create BSA (the conventional one) and delete the one that they created before or there is some regulation that all Muslim in this country will get the islamic account one no matter what kind of account they create? Also, can I create the mentioned account at Maybank branch that far from my house but closer to my university I study at? You can go to any maybank to open account. Sometimes it's better to open account near your house. |
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Jul 14 2018, 12:53 PM
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Newbie
25 posts Joined: Jul 2018
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May I know is it still difficult to open an account in HSBC nowadays? Bcos I am thinking to open a new account. So far I found the basic saving account from HSBC does not need to pay annual or issuance fee. Just what I read through here is that some mention about all the difficulty they face in opening an account.
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I told them it's stated in HLB website, also called HQ only they admit have such product.
then I slowly explain to them and they verified have such BSA 
