I never give my payslip to the banks for opening saving account especially for a merely BSA.
The most I give is employment letter or my company badge because of the conflict of the IC address and company area.

Payslip is normally needed if you want to open privileged account like PSA and CitiPriority/CitiGold.

This post has been edited by GrumpyNooby: May 22 2020, 04:14 PM

not sure what, but something to do with their KPI. anyway payslip no big deal for me personally, not like i earn a lot of money. haha

Why previleged acc opening needed pay slip? What about those already filthy rich & doesn't work already?

no need kot. just transfer 250k in settle.

They want to ensure that you have such income level to be a member for priority or privilege banking and maintain the membership.
Payslip is for employment people.
If you're self-employed or freelancer, you need to use other documents such as J form or B form.

You still need to go through the account opening process.
If you bring RM 250k cash, they may reject you since your cash source is doubtful.
This could be only applicable for foreign banks like SC, Citi, HSBC, OCBC and UOB.

This post has been edited by GrumpyNooby: May 22 2020, 04:30 PM

I didnt really read the whole brochure just glance thru abit...
But in the event of death then should get back premium paid + insurance benefit payout right? and +1% interest u mentioned?

have been to ocbc inquiring about the maxsure2 product. it's not so straightforward as only depositing the money for the 3.9% return. it also requires monthly deposit of certain amount of money for 5 years etc..

Are you sure that you're not being invited to circle round the garden by the staff who served you to sell another policy attached to or on top of the MaxSure 2 plan?

Shouldn't be the MaxSure 2 plan is an independent plan by itself?

This post has been edited by GrumpyNooby: May 22 2020, 04:40 PM

Yeah agreed. Totally does not sound that that MaxSure 2 plan at all.

This post has been edited by WaCKy-Angel: May 22 2020, 04:44 PM

So kena conned by ocbc lenglui as this is not maxsure 2?? Haha

didn't know they can be this mean but i did ask them how come the brochure doesn't mention about these things and they just said ya it works this way.. will give them a call next working day to clarify

This post has been edited by kplaw: May 23 2020, 09:26 AM

Tomorrow (Saturday) they got work?

I have a rule that worked out very well the last 20 years: Never let the bank staff introduce insurance products to me. No matter how good it sounds.

sorry corrected already

What they quote you is somewhat legally binding i would say. erm, they can't just change half way through the 2 years. you may wonder why the return is high. think about it as they found some good asset hence they are able to give you good return. they dont do no-profit business.

the +1% is the insurance pay out. i think i have failed in explanation haha.

Die = 101% of capital

no die = 100% of capital

this is not what you want. now this was i'm afraid of. you ask A, they give you B. or worse, they want you to buy A, then only can buy B. OR they may only offer maxsure 2 to old clients to keep them happy, etc.

the sales illustration should look something like this, really 2 years



This post has been edited by adele123: May 22 2020, 07:10 PM

it consists of a booster a/c , step up and ,Maxsure2
for example, if we want to invest 100k
1) BOOSTER a/c - have to open if u dont have one.
- the function of this Booster a/c is to topup for the STEPUP and will get 3.1% (1.9%+1.2% ) for 6 month starting from the day register when your BOOSTER a/c have at least 20k inside
if you have less than 20k in your BOOSTER a/c, normal saving rate will be given
the interest of 3.1% in 6 month is calculate on daily basis

2) STEPUP
- the left chart is called STEPUP which is a saving insurance by Great Eastern
- When register today u have to bank in 20k and the remaining of 80k need to bank in at 22/5/2023 (20k), 22/5/2024 (20k), 22/5/2025 (20k) and 22/5/2026 (20k)
- You can also choose to bank in RM1666 monthly in which you will get the return by about 2k less compare to paying yearly
- The 20k (topup yearly) or RM1666 (topup monthly) will automatically topup from BOOSTER a/c, so have to make sure there is enough balance or your agent will be reminded by your agent
- have to invest at least 10years to get return, if terminate during first 10 years there is penalty and the money you get back will be less than 100k you invested

3) MAXSURE2 - 3.9% annual Rate
- the maximum amount you can invest in this SAVING INSUARANCE 3 times of yearly payment ，so it's 3 x 20k = 60k
- after one year, have to put in 60k again to get 3.9%
- 1st year 60k and get interest of RM2340
- 2nd year bank in 60k and total of SAVING INSUARANCE is 60k+60k=120k, so will get another RM4680 of interest

sorry for my poor english and hope you guys can understand

This post has been edited by senghock: May 22 2020, 09:08 PM

senghock ok, now we know why there is a katak jumping on the road.

because have to do so many things one shot, especially those long term insurance plan.

This post has been edited by adele123: May 22 2020, 07:13 PM

what do you mean ?haha

So it's a package instead of an individual plan?

"Accessory (Max Sure 2)" is not meant to be sold separately.

This post has been edited by GrumpyNooby: May 22 2020, 07:20 PM

only shared one part of the investment plan. lol, if too good to be true, then it is. otherwise insurance companies all zap lap d