marscoco

Previous posters have asked this before.

If there is no deposit being made to TRUE Savers Account and the account balance is maintained everyday throughout a month, will the 2.8 % interest be given based on that account balance?

Second question: After opening the account, what is the minimum balance that needs to be maintained for True Transact Account? Obviously, we need to maximize the amount in True Savers Account. 

Hi @kart,

In reference to your first question, the 2.8% interest will be applied to your current account balance.

There's no minimum amount that you need to deposit in the TRUE Transact Account. I'd recommend using this account if you like to pay bills online or transfer money using IBG (interbank giro) since we don't charge the RM0.11 transaction fee.

Hope that helps!

Hi @knight,

The TRUE Debit MasterCard is linked to two accounts:

TRUE Transact (which acts as your current account) + TRUE Savers (savings account)

The 2.8% interest rate applies to the TRUE Savers, not the TRUE Transact. Think of your TRUE Transact Account as the account where you do your daily transactions (ATM withdrawals, bill payments, etc).

...

Hope that helps!

Hi @cybpsych,

Let's go through your four scenarios one by one:

1) You can transfer from MBB IGB to TRUE Savers to enjoy the flat interest rate of 2.8%.
2) You get three free withdrawals from TRUE Savers per month. Any withdrawal after that will incur a RM5.30 (including GST) cost because TRUE Savers is meant for you to park your money in there to earn the high interest rate. Yes, any withdrawal from your TRUE Savers include transfers, bill payments, ATM cash withdrawal, etc.
3) Correct! Please use your TRUE Transact to pay bills or IBG tranfers for free.
4) If you want to transfer any money from your TRUE Savers to your TRUE Transact Account, you can do this but please note that your transfer from your TRUE Savers to the TRUE Transact is considered a withdrawal, hence the 3 free withdrawals per month. The fourth withdrawal and upwards will cost RM5.30 (including GST).

Hi @cybpsch,

Yes, you are right, any transfer from TRUE Transact into the TRUE Savers is free. So if you'd like, you can also transfer money from your other bank account into TRUE Transact -> TRUE Savers. 

Hi @sunnie11,

Here's the calculation of the rate:

Amount x 2.80% / 365 days (x tenure) = Total RM payable interest

Say in August, you'll be placing the money from 1 August to 30 Aug:

RM5000 x 0.028/365 x 30 = RM11.50 interest paid

Hope that helps!

@cklimm is right, that's about the price of a frappe. 

Hi @Ramjade,

Please refer to our FAQ for the TRUE Visa MasterCard. The 3% does not apply to online bill payments for utilites including TNB, telco, and TM, etc.

Hi @cybpsych,

Online transactions shall include purchases you make online (excluding telco payments, utilities and insurance) such as booking flights online, ordering from  shopping websites such as Lazada/Zalora/ebay, etc.

Hi @cybpsych,

Let's go through your four scenarios one by one:

1) You can transfer from MBB IGB to TRUE Savers to enjoy the flat interest rate of 2.8%.
2) You get three free withdrawals from TRUE Savers per month. Any withdrawal after that will incur a RM5.30 (including GST) cost because TRUE Savers is meant for you to park your money in there to earn the high interest rate. Yes, any withdrawal from your TRUE Savers include transfers, bill payments, ATM cash withdrawal, etc.
3) Correct! Please use your TRUE Transact to pay bills or IBG tranfers for free.
4) If you want to transfer any money from your TRUE Savers to your TRUE Transact Account, you can do this but please note that your transfer from your TRUE Savers to the TRUE Transact is considered a withdrawal, hence the 3 free withdrawals per month. The fourth withdrawal and upwards will cost RM5.30 (including GST).

ohcipala

I got a shock when I looked into my TRUE accounts this morning when fees of rm5+$0.30 was charged into my acc.

So the 3 withdrawal limit is counted on the total of both accounts?

This is more like an FD. Let say u withdraw 1/3 of rm30k mid month, at the end of that month do u get half month of profit for the 30k and half month of profit for the balance of 20k?

Nope you still get 4% upon early upliftment. However I am not sure you can uplift partially or have to be whole amount. This product is not PIDM protected nor is the principal and returns guaranteed. However, people in the FD thread have reported getting consistent 4%p.a every month (already 3 months+)

No FD can give you this benefits.   Good for parking the money short term.

So u can make a 2mth-rm1000 placement and when u withdraw it 3 days later u still the get 3 days interest without penalties/fees?
All these deposit n withdrawal can be done online without going to branch office inc opening of account?

Great, then no point putting money in Ambank TRUE, time to move out to MBB GIA-i.

BTW, the few days of interest for premature withdrawal will still earn 4% or reduced rate?

Can also put in multiple placement of rm1000 each, and when there is requirement just withdrawal the amt u need?

TQVM. Learn n benefits a lot from u. esp the MBB 100% CB promo. Give u     

Kindly enlighten me on the bold part.

3.9% p.a for ocbc smartsavers?

i m a previous holder of smart savers acc.. can i get the promotional rate of 3.9%?

thanks!

guys,did you all heard that ambank true saver account the flat rate 2.8%pa will be revised as 1.8%pa ? Effective from 1 May 2016

But for customers who open their true saver acc before 1 May 2016 still remain unchanged till 31 May 2016.

All other features shall remain unchaged in true saver acc.

Forget about 2.8% starting June..    

[attachmentid=6355138]

RM0.00 AmBank:Due to system glitch,withdrawal fee on ur TRUESavers A/C wasn't charged. RM5.30 will be debited.Our apologies.Info: bit.ly/1T2B2Lj or 0321788999

May I know what is this? I didnt even perform any withdraw recently. Even withdraw also wont be more 3 times a month. Why charge me RM5.30?

ok..so the mbb gia how many months u put?

whu u separate so many?

:thumbsup: u are really maximizing returns on interest. 

tat should be "happily" did not see maturity.  got high interest short term. then go for higher fd rates.