If you're not HWNI, how you can commit into an Insurance Savings plan worth about RM 1K monthly.
That translates to RM 12k per year right?

If one is diligent/discipline enough, saving 15-20% of one's income is doable. When I auto-debit it using my CC it is also a form of "forced savings/commitment".
I can assure you that I am not a HNWI!

Interesting, what is the tenure you need to commit for that particular insurance saving plan?

INM should be a 5Y plan. Not expecting much from this plan though, maybe slightly above FD rates will do for me.
Main objective is to utilize the Spend 1K element of PSA. Instead of "spending" on wants, might as well "invest" it.

U mean u r not getting 6% every month?

Min. 3k deposit & 1k card spending. Then you get 0.5% board rate + 2% bonus rate (deposit) + 1.5% bonus rate (card spending) + wealth investment of 2%

No, I am getting 6% on my PSA DAB. What I was referring was the Insurance Savings Plan that I took up with SCB (under Prudential) as their 3rd element, invest and insure/cover. That also will have a return (as usual projected at 8%, their favorite number ).

Hi Sifus!

I had just opened a OCBC 360 Account. I noticed that it is written there that every month cut off is on the 14th/15th.
Does it mean if I wish to get the full benefit, I would
1)Bank in Rm500
2)Transfer to another account
3)Spend Rm500
on the 15th? As it is considered as a new month?

Try look in this thread:
https://forum.lowyat.net/topic/3920681/+760#entry93526855

Transferring to another bank account does not fulfill either the Bill Payment or Spend with DC/CC.
Make use of SI in order to qualify all the 2 criteria except the DC/CC spend.

Not necessary 15th, can be done on any day within a month as long as the transaction is done on that month.

Base interest normally credited to account on 31th of that month and bonus interest on 2th of the following month (credit is done up to 14 days working days of following month).

More info, read OCBC thread link:
https://forum.lowyat.net/topic/3920681

OCBC 360 saving account transfer to ocbc other account does not entitle 1.30% but transfer to 3 different other bank account (not OCBC) or make bill payment (pay OCBC credit card or other bank credit card or bills like unifi, etc) does entitle 1.30%.

Thanks Sifus!

However, the first page on the thread link is not up to date?

You are right. Can try to ask in that thread or use search function to find info that you need.

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This post has been edited by cybpsych: Aug 16 2019, 09:47 PM

what about ocbc booster account? min 30k @3%, additional 1.2% if you take their wealth product

You interested with their wealth products?

nope. but still 3% without doing anything compared to others?

Yes, rather simple and straight forward. Just have to maintain a min balance of RM 30k.

Friendly reminder to Stash account owner:



EIR for MAB up to RM 100k has been affected as UOB raised the upper tier to RM 200k and created another tier for amount between RM 100k and RM 200k
You may have to top up more into the Stash account for optimum EIR.

This post has been edited by CardNoob: Aug 31 2019, 10:40 AM

Ambank have 2 new products worth considering:

1) eFlex - Up to 3 months current FD board rate if one could maintain RM 10K throughout the month, else base rate 0.5%

2) Am Partner - A current account with Bonuslink points and up to 1.5% interest.

These two accounts are good for those has low amount to start with.

I read that both accounts only need to maintain RM 10k; low entry requirement.

This post has been edited by CardNoob: Sep 1 2019, 09:50 PM