I think can. SCB does say e wallet reload counts

Eurobeater digimon09
Thanks!

Found this article when googling for more detail, yet to read in detail but the author suggest the 2% from investing unit trust/insurace is not worth it.
https://medium.com/dplanners/kaypoh-cheats-...nt-9dd907a6a6db

Wow, this is the most detailed review ever, but what if I deposit exactly 100k, while everything else remains the same, will the return looks better?

I did the exact same analysis as the guy did, with the only difference being that the starting capital was 99k instead of 10k. There is also no randomness in the starting balances for each month. The reason I did this is to calculate the theoretical maximum you can earn as the Maximum Deposit Balance that is eligible for the interest rate is capped at 100k.

In this case, you stand to earn more due to the interest acting on a much larger amount of starting capital. The effective interest is 4.92%. This is wayy higher than all FDs and the bond fund itself.

Ofc, you do need to have a lot of starting capital to begin with. It's probably why there are harsh conditions in the first place. The product is to cater to those who have plenty of money to spare.

My analysis

SC has changed the terms for invest portion to be 2% capped at MAB:
i. RM20k for 1k invest monthly
ii. RM100k for 6k invest monthly

Fuhh, guess the return will be worsened alot.
To counter this: 1k credit card spending onto ewallets, and withdraw back to bank.

No. Still no news yet. Says will mail drop or sign with courier service to collect

In the meantime, can you access your account? Start depositing?

Still kosong, not listed yet

Then let me take that init account.

If you invested 1k a month into the UT and only earn 2% on 20k rather than the whole 100k. This is what you will earn in effective interest. 3.66%


However, if you really have the money and can throw in 6k into UT investment. Things look a bit different. Because of the increase of the monthly UT investment. I had to recalculate the value of the UT investment after 1 year at 4.0% annualised rate. Also, I've increased the monthly deposit to 7k in the account to keep it from dropping below the monthly average balance of 100k since the UT is taking 6k every month.

4.38%



This post has been edited by Eurobeater: Feb 3 2020, 09:41 PM

You mean that you applied at SCB branch and they gave you the debit card on the spot? Therefore, you can start using the full potential of the account right away.

When did you signed up at the booth?

This post has been edited by Gabriel03: Feb 3 2020, 10:59 PM

Sweet tables, did some number crunching based on your format and decided to do a lumpsum into a local bond fund via a 0% sales fee online platform

For condition #1 - bank in RM3k for 2%,
if beginning of the month I bank in RM3k, but next day I withdraw RM3k, still entitled?

not sure why got 2 threads - https://forum.lowyat.net/topic/4439367/

but yes - the RM3k can be used. I use it to settle my credit card bills

great info! for the UT investment, is it the sales charge is the only cost to it? or is there other charges like mgmt fee, etc?

1 general on all high yield....
this is particular to SCB one

OK - although i would suggest post#1 be updated with the FAQ from the general post like

1. Must get a debit card
2. The RM3k can be used

This post has been edited by zenquix: Feb 4 2020, 11:55 AM

Thanks!

So...says if we have 100k to put into this, and not intend to get extra 2% from UT.
I put in 3k to activate 2% deposit bonus rate, spend 1k to activate 1.5% spending bonus rate = 4% rate
But since 1.5% spending bonus rate cap at 100k, so any extra $ after 100k is only getting 2.5%.

Perhaps can withdraw out the extra 2k, maybe to another SC privillage$saver account or OCBC360.

https://av.sc.com/my/content/docs/my-revise...er-campaign.pdf

***

(b) Card Spend
Bonus Interest Rate on credit card spend is applicable to all SCBMB credit cards (“qualifying SCBMB Credit
Card”).
The Bonus Interest Rate on credit card spend is only applicable for retail transaction charged to the
qualifying SCBMB Credit Card (“Retail Transactions”). For avoidance of doubt the following Retail
Transactions will not be entitled to the Bonus Rate:
• Cash Advance
• Balance transfers
• Easy Payment Plan monthly instalments
• Income tax payments
• Payments to loans or credit facilities or deposit accounts
• Payments to Government bodies
• Any credit card fees and charges (including annual fees, interest charges, administrative fees, cash
advance fees)
• any amount charged to your linked credit card in that calendar month that is subsequently cancelled,
voided or reversed. Balance owing on the qualifying SCBMB Credit Card(s) from previous or other
months and
• Any other amount charged to the credit card as may be determined by SCBMB from time to time

***

Will SCB Liv CC topup to BigPay entitled for Bonus Interest ?? or BigPay is considered Credit Facilities / Deposit acc ?

BP entitled for bonus interest