OT: Hmm... this M2u Savers sounds interesting. I already have Kawanku, and current account. Any charges/fees for the account every year ? like RM10 ?

I'm reading more info from MBB2u website now ... if the interest is higher than Kawanku Savings, I might as well park the money there.

Sorry, where is this "apply online" located at? I search through the page but can't see it. I must be blind.

When you first login that page? The 'home' tab. There's like 4 columns of options, its the third column, 2nd row from bottom.

Yeah u can transfer any amount anytime but the interest is daily rest. Means if you deposit RM5k for 1 day, it will count and pay you for 1 day interest.

There wasn't any charges/fees but the minimum amount you have to maintain the account is RM250. The interest rate is 2.1% if I'm don't remember wrongly and it's calculated based on daily rest. If you close the account within 3 or 6 months (couldn't remember) then there will be a penalty charges or something like that.

Another condition is that you must have a minimum amount of RM2000 in order to get the interest of 2.1%. If less than that then there wouldn't be any interest given unless you are opening the M2U Saver-i which it gives 0.4% interest if the amount is less than RM2000.

It's at the HOME tab.

This post has been edited by JonnY: Dec 28 2012, 03:00 PM

Excellent, thanks for the guidance! Just opened one.

How's the daily interest is calculated?

I save more so can spend more on Maybankard2Card.

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Added on December 28, 2012, 12:46 pmAbout the penalty for closing the account. This is the clause:
A service charge of RM20.00 will be imposed if the Maybank2u Savers account is closed within three (3) months from the account activation date

This post has been edited by fruitie: Dec 28 2012, 12:46 PM

Will try to dump in few k after Bonus in. Btw, since the interest is calculate daily, how it bank in to us? Same account, or saving account, and how frequence? Everyday, once a month?

they pay at the end of the month, to the same account

Thanks for the info, Bro!

thanks for the earlier advices on redeeming treat points.

will get cash vouchers instead to buy the things i want.

more flexible indeed.

It seems can operate exactly like normal saving account with ATM, can transfer money & etc without extra charge, right?

So best practice should be, when salary in, transfer all the money to Saver account (since can withdraw from ATM), later use it to pay bills & credit card etc!

So can we leave our saving account almost empty or minimum, and transfer all to Saver account?

In term of customer is really benefit to us, but in term of Bank, why they do so? I can't see the business point of view?
(Sorry, I have no knowledge on this area, that's why asking the opinion here)

I'm not so sure how the daily rest is calculated.

Yeah. No extra charge for transfer money between own account and other MBB account but for IBG they charge RM2 for the saver whereas normal saving account charge RM0.50 for first 2 transaction.

I always transfer all my salary to the saver and left RM10 in my saving account. Then transfer back to saving account when my M2U saver account is less than RM2k.

I think the bank still earning from there just like how they earn through the fix deposit. My 2 cents.

For IBG I also get charge of RM2 for my saving, as my is not Basic Saving Account. So means for me, make no different!

FD at least bank will lock us for certain period. This is so flexiable for us.

OT: Great. Rather than park at Kawanku or HSBC which earns nearly nothing for some cash liquidity.

Going to apply online NOW ...

ok, back to topic.

Sorry guys, allow me to OT for the last time. So, it has a set of number, I presume that's my saver bank account.

Can I use that for my salary purpose? I can always advise my payroll vendor to change my bank account. I'm in HR myself.

Yes

I think that wouldn't be a problem because anyone can deposit to the M2U saver bank account like normal saving account.

Hi guys, I'm planning to apply for MBB 2. Went to maybank branch but I still can't understand how to calculate the 8.88% thing. Anyone?

Thanks.

Neither do I, that's for minimum payment interest.
You better not to know.

This post has been edited by fruitie: Dec 28 2012, 03:42 PM

Take it as a discipline, to make full payment every month and you don't need to know the 8.88% whatever interest for minimum payment/advance cash/whatever.

If you can't discipline yourself, then better to go with debit card. Don't apply CC. Serious, you'll fall into debt trap and we don't want you to be.

Use CC for EPP / 0% installment is fine, but full installment payment every month is a must (discipline).

Over here, we try to advocate everyone to use CC positively and EARN from bank (even after paying RM50 GST).
We don't encourage people to be in debt and not able to pay, or just minimum / partial payment.

Try read first page , the first few postings, you might get some idea there.

The M2U Savers-I is slightly better as any balance gets daily interest earned....