can refer here but others have higher deposit requirements.

Hi All,

I'm specialize on Saving / Retirement account from AXA AFFIN group.

MAX Saver / wealth protection account.

Please PM to know more details.

01128193371 - Kev

Kinda interested with this account, do you think its worth compared to others? (maybank, ambank etc)

And also it states until december 2015, what will the interest rate be like after that?

Ambank's True big no no

How do they work actually?

Eg. - Assumed that you haven't spend yet with your CC
1/8 - Statement date
- Deposit RM1000 into 1 month eFD earning 3.15
21/8 - Payment date - nothing to pay

From 1/8 until 31/8, one spend ONLY RM1000 with the CC

1/9 - Statement date
- One have RM1000 to settle by 21/9
- Withdraw the RM1000 (From eFD) and put into M2Savers (make sure M2Savers have RM2000 inside to generate interest. The RM2000 interest will not be counted in this eg)/Ambank True Savers to earn 2.25%/2.8% resoectively.
- Deposit a new RM1000 (with previous interest from 1 month eFD) into 1 month eFD
21/9  - Payment date
- Withdraw RM1000 from M2Savers/Ambank True Savers and settle your bill
- One now have RM1.25/1.56 (M2Savers/Ambank True Savers) + RM2.63 (interest from FD)

If one were to do this for 1 year, one will accumulate  RM15/RM18.72 + RM31.56. That is RM46.56/RM50.28 per year by sticking to spending only RM1000/month. Free money from the bank. Money from thin air. Not counting the cash back from credit cards yet.

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?

you would know better, right?

I know what Junior means.

it's not available to everyone >18yrs old.

comparing kids acct vs adult acct is different.

Want to ask a basic/noob question about savings account;

I currently have some savings account which are redundant (not using anymore)...;

- What happens if I withdraw all the money from a savings account (will the bank close the account)...?

- If I only leave behind like RM50 in a savings account & not bother anymore, will the bank close the account due to inactivity...?

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O I see..., thanks for the hands up.

7 years is a very long time to qualify as inactivity lol... (If that is the case then I should just leave RM50 in each of these savings account that I no longer use...)

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I just notice there is missing for RHB Bonus Savers account in this thread.
http://www.rhbgroup.com/products-and-servi...-saver-account/

I am using it, and it pay me 2.65%-2.75% p.a every month of my balance.
However, to archive this, you will require to credit RM500 per month in 12 month time to step up the interest. (with no withdrawal)

The RM500 incremental every month is based on your average balance in a calendar month, so to ensure it will entitle a step up, it will be better if you credit rm500 in 1st of every month. Or else you will need to calculate the amount needed for credit in order to have average balance incremental of rm500 comparing to average balance from previous month

once your 12 month step up is complete, your account will be permanently having 2.65%-2.75% base interest rate count for daily for any balance you have in account (no withdrawal limitation, can withdraw anytime)

I have completed my step up on beginning of 2014 and now it pay me 2.65%-2.75% p.a every month of my balance.

PS:
If you worry about the annual fee of the debit card when you opening an account, which will drop you effective interest rate.
What I do is I open a Basic Saving Account with No Annual fee first. then open this Bonus Saving Account and request to link to the debitcard/ATM card on the Basic Saving Account without annual fee. Just need to ensure every 12 month to make some transfer to the basic saving account to keep the account active.

Most branch people will said cannot link, but try to ask them to check with their manager, because there is no black and white state this account could not link to any card. It took me some time when they finally agree that can be link.
*I am not sure if there a new TnC state that Bonus Saver account cannot link to Basic Saving Account anymore.

see attached for the step up calculation:
[attachmentid=5100206]

interesting, got to check it out.
transfer from truesaver to truetransact will consider as a withdrawal count for the 3x limit?

I having multiple CC to pay end of month, and cash top up to wallet end of month.

so the strategy here will be transfer total amount (CC1 + CC2 + cash needed) to truetransact (1x count)
truetransact pay to CC1 and CC2 for free IBG (2x transaction here)
truetransact withdrawal cash to my wallet (1x ATM here)

then i will only used for 1x withdrawal from truesaver.
is this valid? 

Lazy to read from top of the page.
How much money for floating you have? If always got rm5000, why not use only FD as savings account?
I'm doing this using Maybank's online FD, now is an Aspire member also which gives slightly more interest when it matures.
The lowest interest rate are 3.1-3.15%pa which still higher than all this.
Every month I'm sure got 1 FD matures, so I make money first before spend it. Now the interest gained are more than enough to pay my monthly bills and 350g of my son's milk.