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

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

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

Did anyone know how long will it take for open the PSA?
will they drag u 1 hour to sell you other saving product?
really no time to go branch this month

The unit trust requirement , how to fulfil? What if unit trust give shitty return. Isn't it drag down the percentage

to get the 2% + 2% ....
i need to :
1. spend RM1000  credit card
2. fresh fund of RM3500 monthly.

need to go to branch to open ?
or can do ONLINE ?
planning to transfer from OCBC-360 , current = 3.6% .

I am thinking of switching from OCBC 360 to this privilege savers if the diff in interest is still 3.4% vs 4%. OCBC has already reduced twice but not SCB?

So the best practice is always to deposit 3k on the first day of the month to maximize the interest. Am I right?