Just curious, can we open a/c via online ?

I guess you're just making an appointment to the nearest branch.
You still need to do biometric verification with your NRIC.

This post has been edited by GrumpyNooby: Mar 6 2020, 09:47 AM

last I tried - cannot

how to get to this page?

https://www.sc.com/my/deposits/psa/

Click get in touch

RM0 for me. But maybe special case as I already had a stan chart credit card (but not savings account). The CS officer just told me to transfer money in from another bank account once the account showed up on my online banking portal.

Login to SCB online banking > Click Apply Product > Click & select any 1 of the saving acc to apply
thereafter you will reach this page

This post has been edited by ckh6003: Mar 7 2020, 01:19 AM

Same for me, existing card user opened with RM0 and bank transfer later. But if I remembered correctly I thought I heard the banker say RM20 for new to bank customers.

What is OPR?

Overnight Policy Rate governed by Bank Negara Malaysia

Just in case you want more info
https://www.comparehero.my/banking-finance/...pact-malaysians

Additional reading:

OPR down to 2.5% for first time in a decade
https://www.theedgemarkets.com/article/opr-...rst-time-decade

If I choose not to get SC Debit Card, am I still eligible to get the additional Save Interest of 2%, assuming that I will deposit RM 3000 once per month via IBFT into my Privilege$aver savings account?

Thank you for your information.

This post has been edited by kart: Mar 9 2020, 06:07 AM

No as per TnC - Clause 15.
https://av.sc.com/my/content/docs/my-revise...er-campaign.pdf

This post has been edited by GrumpyNooby: Mar 9 2020, 07:16 AM

Thank you for your reply, GrumpyNooby. Sigh, that is just too bad.


Since I am not interested at all in card spend interest of 1.5%, my sole focus is just Save Interest of 2%.


I believe that the annual fee of SC debit card is RM 8.00. And, I only intend to keep less than RM 1000 in Privilege$aver savings account. If I have any more disposable income, I will just keep in ASNB, or invest it.


If my intended balance in Privilege$aver savings account is less than RM 1000, Save Interest of 2% and the base interest of 0.5% are inadequate to offset the annual fee of SC debit card of RM 8.00.


Note that I already have access to SC online banking website, since I have JustOne Personal Savings and Current Account, without SC Debit Card.


Sigh, maybe Privilege$aver savings account is not suitable for me.

This post has been edited by kart: Mar 9 2020, 07:39 AM

At first I was excited like you for not having the debit card.
Then I asked my banker to double check with her team superior.
Her superior had called the HQ in KL and they said having a debit card is necessary.
Some in here said that AF for the debit card is FOC for first year.

This post has been edited by GrumpyNooby: Mar 9 2020, 07:41 AM

I am not as rich as many other posters in this forum, so my intended balance in Privilege$aver savings account is less than RM 1000.


Yeah, some people may have the opinion that SC debit card has no annual fee.


Then again, it is better to rely on the actual real-life experience of SC Privilege$aver savings account customers without any SC debit card.

If after 1 year of having this savings account, the savings account eStatement shows that there is no debit card annual fee to be paid by the customers, then we will believe that there is no debit card annual fee.

This post has been edited by kart: Mar 9 2020, 07:48 AM

If your intended balance is less than 1000 then over the course of 1 year (at the 2% bonus interest) it is only RM25 interest. Why would you look for a high-interest savings account and then put relatively small amounts inside? Doesn't make sense. Save your hassle, get a BSA at a convenient bank to you with free debit card and no annual fees.

LostAndFound

I already have several basic savings accounts, with no-annual-fee debit cards.

Most of my disposable income is in Maybank M2U Savers. After twice cuts in OPR, the interest rate is now just 1.35%.

So, I am looking for a savings account with higher interest rates. If I have more than RM 1000 that I do not intend to use in next few months, I would save the money in ASNB, or invest in PRS.


In short, I do not need more than RM 1000 of money for easy withdrawal and ad hoc spending. This Privilege$aver account is meant to bridge the gap between my BSA and ASNB, and acts as a compromise between liquidity and high interest rate.

This post has been edited by kart: Mar 9 2020, 12:07 PM

With this amount of savings, it will be a few rm difference per year of interest, not worth the effort to burn your brain cells.