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

I only know Boost able to withdraw with 5% admin charges. and bigpay withdraw is RM6. Any other ewallets allow withdraw ?

boost charges UPTO RM2

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?

When did you signed up at the booth?

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?

Dropped by Taipan Subang branch to enquire about their ever mysterious 2% invest/insure option:
i. Insurance/savings plan
It's a 60 month/5 year plan partnering with Prudential, you get to pick from select Eastspring funds to allocate money into. About 20 of them all together including local equity, global equity, local bond and janky global high yield bond. I stopped the banker there before he got all excited about a savings plan with India and China funds.

ii. UT
RM1000 a month @ 2.5% sales fee. No lock in period can stop/start anytime. Sales fee can be reduced to 1.5% for whole tenure if lumpsum RM5,000 the first month and subsequently RM1,000 monthly.

From the top of my head (I was shown the funds from screen) - funds houses Aberdeen, AmInvest, Eastspring, Principal, Franklin, Templeton, RHB. Notably missing are Areca, Kenanga and United. All in about 190 funds, with some of them wholesale which require qualification of HNWI based on RM3mil AUM or 300k annual income.

Based on my calculation (hope it's right) with RM20,000 average balance in account, you'll be earning back the sales fee 4th month onwards if RM5000 initial lumpsum was done to lower the sales fee to 1.5%.

[attachmentid=10415261]
*Invest interest 2% per month derived from simple calculation 20000*0.02/12

Hi all sifu,

Just now I went to the SC branch the so called investment manager told me that the sales charge is 2.5% for all funds, regardless it’s bond fund or not. Can anyone please confirm this? I thought the sales charge is 1% then I can consider to invest in UT.

Thank you

I only know Boost able to withdraw with 5% admin charges. and bigpay withdraw is RM6. Any other ewallets allow withdraw ?

Boost charge 2% processing fee up to max rm2.
https://support.myboost.com.my/hc/en-us/art...obile_site=true
BigPay/Boost/shopeePay

umobile gopayz...0 charge. cap 1.5k daily.

Does anyone have both conventional and islamic version of the privilege saver?

For islamic account, does the conventional credit card spending qualified for the bonus interest for islamic account?

I also wondering the same thing. The SC staff told me only one account can enjoy the full benefits if you have both PSA and Super Salary-i account and the other can get base interest only. Do let me know if you guys found out this is not true.

T&C # 26 states that - In the event where the customer opened two (2) or more eligible Promotion Accounts, Bonus Rate will be to the first of such active Promotion Account opened with SCBheld by Eligible Accountholder.
It's consistent with what the SC staff have said.

Dropped by Saadiq branch, informed they have no Privileage$aver, just got some different name with exactly the same thing. Will be trying it out =)

so here's my very simplified cons of Privilege$aver (versus Unit Trust):

(1) I would only keep very little liquid cash in my bank account, enough to keep me going for a few months. A bulk of my savings goes into my Unit Trust which although is riskier, would earn a much higher yield than 6% per anum if i keep for the long run.
(2) The sales charge of my unit trust investment is only 1.5%. investing with SC is 2.5%.
(3) I already have existing insurance & existing unit trust. doesn't make sense to get another set. this drops my potential Privilege returns by 2%. This strengthens point (1).
(4) I've used SC credit card before and had to cancel because the rewards and cashback pales in comparison to MBB cards. this drops my potential Privilege returns by another 1.5%. This strengthens point (1).
(5) One month FD rates in Malaysia is already at 2.7%. The basic Privilege savings is only at 2.5% (say i don't get the credit card and the investment/insurance).
(6) There is a life span on this offer up to 31st Jan 2021.

Anyway, i'm honestly open to rebuttals. I too am considering this Privilege$aver scheme because i like the idea of consolidating all my finances under just one bank. But there just isn't a good reason to do it with this Privilege$aver program.

(4) I've used SC credit card before and had to cancel because the rewards and cashback pales in comparison to MBB cards. this drops my potential Privilege returns by another 1.5%. This strengthens point (1).

Dropped by Saadiq branch, informed they have no Privileage$aver, just got some different name with exactly the same thing. Will be trying it out =)