oh is it? didn't see that. lol

but anyway more than 100k u only get 2% anyway. make no sense to put more than 100k.

From uob website:

Effective Interest Rate of 3.60% p.a. for balance tier above RM100,000 is calculated based on RM125,000
deposit, provided customers complete any of the 2 actions per month

Above 125k, better transfer & put on gxbank - 3% pa

what about if i put 100k in uob and 25k in gxbank? will the effective rate be more than 3.6% ?

if you do

100K - 4% EAR [UOB]
25K - 3% EAR [GX]

i will max

UOB:
100K - 4% EAR
25K - 3.6% EAR

GX:
any amount extra after uob - 3%

hmm or is it EAR 3.6% for the whole 125k after factoring in 25k at 6%? my math not good. lol

nope uob calc each based on tiering.
if you worry, then just put till 100k

100k@4% +25k@3.6% = 125K@3.92%?

what about 100k@4% + 25k@2%? will it give 125k@3.6% ?


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Yes.

It is not true at all. One will only get 2.xx% to 3.xx% for amount above 50k depending on the exact amount. 4% is only for 100k or amount very close to that as it is based on split-tier calculation.

Ear is correct. Every month get those interest bank in since they introduce it last few month.

What is the EAR you are referring to? EIR or something else? How much did you deposit and how much interest did you get? It is impossible for you to get 4% EIR if you deposit only 60k for e.g.

60k means:

50k@2%
10k@6%

It's not that hard, just some primary 6 math

hope this lasts for some time and they don't go and change the mid-tier 50k-100k from 6% to some lower amount, which I suspect they will do after they gain enough depositors

So what is the EIR for 60k?

This post has been edited by Nom-el: Feb 25 2024, 05:12 PM

2.667%?

lol thanks for the math class

so if u put in 100k - u get 4%

anything more than 100k to 125k, u get 2%.

so better to put max 100k only. anything more put in stg higher than 2%

Cannot. Need 100k to get the maximum 4% interest.
See below.

It's not 50-100k get 4%

First 50k at 2%
Next 50k at 6%

E.g.
Deposit of 75k
(50k x 2% + 25k x 6%) / 75k
= 3.33%

What are the other options? Mind to share please?

Hoping to see some alternatives with good liquidity.