Bear in mind Versa 4% until end of Feb 🤦‍♀️

Banks are known are for bloodsucking profit

OPR has gone up last Nov since hence the rates will be the same for some time and they will make you do more to earn the interests 🤦‍♀️

Yes this is based on special campaign extended to 31 Dec 2023

Hi all, just to check if anyone face issue on your SCB Smart account? Can't transfer fund in from at least two banks. Called customer service mention need to check

This is the only bank I faced this problem. Worst was last week when I need to DN to other banks' CASA to pay CC, 3 out of 5 was pending but eventually rejected next day. And CS got the cheek to advise me since same party transfer to repeat it, if 3rd party need to ask them to return funds if double transfer. Now looking to open RHB Smart account. Does SCB has Smart account?

Standard Chartered has revised its Privilege$aver campaign to introduce a new Loyalty Bonus category that allows accountholders to unlock yet another 2% additional interest, thereby raising the total interest rate that can be earned from 4.15% p.a. to 6.15% p.a.. This is set to take effect immediately.

https://ringgitplus.com/en/blog/bank-news/s...o-6-15-p-a.html

So for January... is compared to December average monthly bonus? Wonder whether can call the bank to check how much this bonus is, or have to sendiri calculate....

This post has been edited by LostAndFound: Feb 4 2023, 09:57 AM

I tot Jan is still using old formula.

Oops yeah, I meant for February is compared to January average monthly balance? So for example someone who normally leaves 10k in there (plus minus), would need to maintain 13k average monthly balance in February? And if miss for just one month don't get anything? Seems complicated... but the resulting interest rate is better than most FD!

This post has been edited by LostAndFound: Feb 4 2023, 11:38 AM

to get the 2% quarterly bonus for having incremental average balance of RM3k each month, your account must show an average 3k increase every month for 3 months in the defined quarter (Feb-Apr, etc). If you miss one, you get nothing. to get the full year's worth, you will soon realize you need to dump in an additional RM36k, and can't take out any funds as it will reduce your IAB, so that's 2 glaring problems:

1. you need to deposit an additional RM3k every month for 12 months consistently and in the end fork out RM36k to earn that 2%
2. you can't take your money out or you lose the bonus interest, so it's no better than FD

HLB is more appealing than standchart now

If you are considering this account as a 'pure FD' style, just put in and leave it, then I agree.

If you use it as a temporary short term FD then I think may work out better. In particular can consider the possibility of shuffling funds between this and another account (so you get the bonus 2% for one quarter, but not for the next). Or if you and spouse (for example) each have one account, then every quarter move it back and forth. Effectively becomes FD with extra work (but also can move money in and out based on some conditions).

Hi

I called cs yesterday, but still kinda blur. Any tips to get the quarterly 2%?

Eg:
every month put in 3k for 1 quarter. Can I withdraw that initial 9k at the beginning of 2nd quarter?

Thank youu

Let's say first quarter is Feb/Mar/April. On 1st Feb you have 10k inside. Your monthly balance must be 13k on average for February. I guess if you add 3k on 1st Feb then that should work. Maybe for safety you add a bit more.

Then March you need Feb monthly average balance +3k. Note that if you added a bit more for February this would affect your target amount here.

Then April you need Mar monthly average balance +3k.

This is doable if you treat this account as FD, no in/out money. For those of us who actively using the account, you will have a headache calculating monthly average balance.

Anyway after April, you still need to do the same in May/June and so on. But the workaround if you want... May you take out your money (put elsewhere). That means the Q2 (April to June) you don't get the bonus 2%.

If you have two individuals, both with SCB Privilege Savers, SCB credit card, and SCB debit card (for all the categories) you can cycle your money, one quarter in person A account, one quarter in person B account.

If you have only yourself, you can do one quarter here, another quarter put in RHB Smart-i/OCBC 360 or whatever.

And at the end.... you get AT MAX 4.15% which you could have gotten without hassle (and no spending requirements) from some promo FD. Am sure some will do it though.

??? Pay and save?

Too much hassle n one wrong move gets 2.15% only.

Anyone use Jumpstart account and use the debit card? Because i try use online purchase via lazada, so far didnt receive the cash back yet

It might due to the Merchant Description or MCC Code thus I avoid that card for Transaction at Lazada, only for Shopee coz Shopee they listed as Shopee Pay, not Shopee
If Lazada, they did not mentioned the merchant name to be excluded is Lazada Wallet ... so..it might be the reason..

may i know you apply on line or need go to bank?

Jumpstart account online can apply easily

Online only..