01/04/2020 BONUS-INTEREST-CARD SPEND MYR 127.40

My amount has maxed out.
I can't help you to verify.

Based on MAB of 100,000, if I use 1.5 / 100 * 100000 * 31 / 365, I get RM 127.397
But this year is a leap year right, if I use 1.5 / 100 * 100000 * 31 / 366, I get RM 127.049

The save bonus you divided with 365 or 366?

Yes, agreed with you.

Base Interest: / 366
Save & Spend Bonus Interest: / 365

I had reconciled all the calculation and the difference is only 1 cents.

This post has been edited by GrumpyNooby: Apr 1 2020, 08:22 PM

Yes as long as you fulfilled the save & spend conditions.

Contact your RM?

If you buy UT from the banks, normally they'll assign you a WP or RM to deal with you inclusive of the account opening.

If they charge you 3% for equity/balanced fund in order to qualify for the extra 2%, would you still buy them given the very high volatility of current world equity market?

I'll go to CIMBClicks as they're charging 1% for a lot of funds.

Base Interest & Spend Bonus Interest: 31/3/2020
Spend Bonus Interest: 1/4/2020
Invest Bonus Interest (March settlement): 30/4/2020

This post has been edited by GrumpyNooby: Apr 2 2020, 08:21 PM

Before you go tekan the bank, do ensure the settlement date of your WMP that you bought falls in February and not on March.

This post has been edited by GrumpyNooby: Apr 3 2020, 07:54 AM

Amount of principal is frozen from the start of moratorium.
Interest will be accrued based on the frozen amount.
You have accumulated interest during the period.

That is so obvious and so many people are discussing on the other thread on how to take advantage of the moratorium.
Come on, guys! There's no free lunch form the banks.

That's true.
For example, if your total monthly repayment is close to RM 20k and you're not capped to RM 100k for this PSA with current subscription to the highest tier at 6% pa.
Even you're at 4% tier, you won't gain much.

This post has been edited by GrumpyNooby: Apr 5 2020, 10:01 AM

Moratorium thread.
I don't know there's heavy discussion in that too since I don't have those products in my hand.

Using RP example of principal amount of RM 500k with loan interest of 4% and monthly repayment is RM 2390.52.

At end of September, your accrued interest is RM 10,000.02.

Let's say you're to divert the 6-month repayment into PSA, the total amount is RM 14343.12.
The total interest earned at 4% is RM 167.92 for the period from 1/4/2020 to 30/9/2020.

April 2020	2390.52	7.86
May 2020	2390.52	16.24
June 2020	2390.52	23.58
July 2020	2390.52	32.48
Aug 2020	2390.52	40.61
Sep 2020	2390.52	47.16
	TOTAL	167.93

Worth it?

And where is the free money comes from?
Your housing loan is still accruing interest (not no interest at all).

This post has been edited by GrumpyNooby: Apr 5 2020, 12:40 PM

This only valid if you do no need the money on 1/10/2020 and beyond.
On 1/10/2020, I need to service the housing loan and the diverted amount needs to be withdrawn out to put back to the housing loan.

The Invest Bonus interest is only limited to first RM 20k of MAB only right?

No.
This is not similar to OCBC 360/360i account.

Revision of Terms & Conditions of Privilege$aver Campaign

Please take note, effective 1 May 2020, base interest rate of Privilege Savings Account and base profit rate for SuperSalary-i will be revised as follows;

Clause 9
Base rate for Privilege Savings Account and SuperSalary-i is revised from 0.50% to 0.10% p.a.





Clause 14
Eligible Account holders can earn up to 5.60% p.a. (from 6.00% p.a.) in the promotion account based on total interest/return earned from the Base Rate and
total Bonus Rates on all Bonus Categories of Deposit, Card Spend and Wealth Management as seen in Table 1 above.

https://av.sc.com/my/content/docs/my-notice...ivilegeaver.pdf

Revised T&C for PSA:
https://av.sc.com/my/content/docs/my-privilegeaver-tnc.pdf

Eurobeater: Please update the thread title to 5.6% pa



This post has been edited by GrumpyNooby: Apr 9 2020, 08:11 PM