Revert back to 4.5%? but now is 4% already wor...excluding the 2% investment(which I will not do).

I am planning to get OCBC 360..which look better n easier to achieve.

Just open a privilege saving account at Standard Chartered since I already got a credit card and online account there.
Anyway, was asked by the person in charge to take the debit card (annual fees RM8) if not the privilege benefits will not get.
Is that true?
Coz I highly doubt this debit card is needed to fulfill the required condition to get up to 6% pa interest.

if i put in rm500001 in uob investpro, i get 3.15% pa interest? not tiered?

nowadays why opening a BSA needs income document, e.g. payslip in addition to IC? Is it new rule by BNM?

hawker or self small business not payslips how? 

HSBC
Is it new rule by BNM for anti money laundering?

Different people has different needs. Some of us are in the 60s or 70s - top priority is not to lose the pension money. Not even the 5% service fee which can be a lot. And investment in mutual funds, gold. etc take years. FD is a "sure cannot lose money" type, can withdraw for own use anytime.

Thank you for your reply. Is it based on your actual experience or your assumption on how it works? How about for this scenario: -

Saving: More than RM100k, Spend RM500 UOB credit card. Deposit RM2500 to UOB one account.

Answer: Base + Tier 2 = 2.65 + 2.65

or

Answer: Base + Tier 2 = 2.65 + 0

Assumption. The table list is not clear enough?

Saving: > RM100k. If Spend RM500 UOB Credit card. Deposit RM2500 to UOB one account.

Answer: Base + Tier 2 = 2.65 + 2.65.

I have read the T&Cs. That is why I am confused.



According to this, the Bonus Interest will be payable on the Average Day-End Balance up to RM50,000 for that calendar month. However, there is a 3% rate for balance above RM50,000. This does not make sense at all unless the 3% includes the interest from the base interest (it is cumulative instead of separate). The rates shown on the T&C are outdated btw. The T&C is very poorly written indeed. The calculation method is supposed to be separate for base interest and bonus interest but is should be added up if there is a cap on the balance. Or they changed the conditions but forgot to update it.
I am aware of that but what I am not sure about is the max EIR of 3.05% applicable only on the bonus or on the total interest earned.

When I opened the Privileged Savers account with SCB, I immediately bought a Insurance Savings plan worth about RM 1K monthly and use the SCB CC to auto-debit monthly the premiums.
Settle 2 conditions at one go. 

HNWI? Not in my books! 

Anyways, I usually do not prefer "short term" 6-months FD rates then reverting back to board rates. Also the 70:30 ratio effectively lowers the advertised 4.7% FD rates.

If i read correctly using the assumption of 100K

70K @ 4.7%
30K @ 0.5%

After 6 months total Interests earned is 1,720/100,000 = 3.44%, no?

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! 

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?

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

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

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.