As a general rule of thumb, when a revolving credit is extended, they want to make sure that one has the capability to repay their commitment monthly. How can they tell? By asking to see statements such as employee's salary slip, confirmed and corroborated by epf statement and LHDN statements. Since a salary slip can be generated by anyone. the trust increases if your employer is large.

Having said that, some bank's may colaterise your credit line by putting a lien on your fixed deposit, which means you can't withdraw that out as long as that credit line is still extended to you.

Having a lot of money in epf means zero. not even the attorney general of Malaysia can touch it. so it serves no purpose for a lender. epf statement can only show your declared income is genuine.

Priority banking customers are those deemed to have a higher net worth. yet most would still require income documents. it is not automatic.
Private Banking customers are a different category, they are worth 10 or 20 times more than the priority customers. Hence they are given automatic credit line.

hope this helps.

I think most people reading this can definitely afford the whatever amount required for priority banking. Can anyone enlighten me on the reason to have a priority banking account?

Now I have paid off my house & car. I park most my cash in IBKR (stocks, bonds, futures). I keep my "liquid" cash in FD and MM instruments, and I make a conscious effort to ensure I'm not keeping too much cash (except when the market is insane). I haven't came across any perk that worth my effort to "ensure" myself having 300k in the bank at all time.

Maybe like they say, if you don't see the point, you're not there yet. haha.

Maybank Premier is offering 5.08% pa for a minimum RM100k locked for at least 6 months.

Effective Rate = 3.77% p.a

okay if I may add. I can see the appeal of having Ambank priority banking (unlimited lounge access!). But I'm still unsure if it worth my effort.

I think most people reading this can definitely afford the whatever amount required for priority banking. Can anyone enlighten me on the reason to have a priority banking account?

Now I have paid off my house & car. I park most my cash in IBKR (stocks, bonds, futures). I keep my "liquid" cash in FD and MM instruments, and I make a conscious effort to ensure I'm not keeping too much cash (except when the market is insane). I haven't came across any perk that worth my effort to "ensure" myself having 300k in the bank at all time.

Maybe like they say, if you don't see the point, you're not there yet. haha.

Interesting, but it seems that they require 30% to be in CASA. All in, 3.77% is pretty good but I also can easily get 3.7% off any other promo FD (e.g. std chart 4.0%).

okay if I may add. I can see the appeal of having Ambank priority banking (unlimited lounge access!). But I'm still unsure if it worth my effort.

If need unlimited lounge access then Standard Chartered Priority Banking which needed only 250k.

apply SC Journey also can get unlimited entry . no need 250k. just that benefit on that card is not good only

apply SC Journey also can get unlimited entry . no need 250k. just that benefit on that card is not good only

Klia only. RM600 annual fees waive 2nd year annual spend RM60k.

I think most people reading this can definitely afford the whatever amount required for priority banking. Can anyone enlighten me on the reason to have a priority banking account?

Now I have paid off my house & car. I park most my cash in IBKR (stocks, bonds, futures). I keep my "liquid" cash in FD and MM instruments, and I make a conscious effort to ensure I'm not keeping too much cash (except when the market is insane). I haven't came across any perk that worth my effort to "ensure" myself having 300k in the bank at all time.

Maybe like they say, if you don't see the point, you're not there yet. haha.

HSBC has a multi-currency account. Put some xxx USD there - earn the 4.x% interest and its enought to keep the premier banking going. Why would you need it ? If all your banking in Malaysia and you dont travel overseas much or plan to finance your children overseas than I agree limited reasons. Thier relatonship managers focus on uncle aunty UT or forex products.  Few are truly savvy.  But for the overseas accounts its worth having it - protects your foreign currency in Malaysian account and easy to move funds.

HSBC has a multi-currency account. Put some xxx USD there - earn the 4.x% interest and its enought to keep the premier banking going. Why would you need it ? If all your banking in Malaysia and you dont travel overseas much or plan to finance your children overseas than I agree limited reasons. Thier relatonship managers focus on uncle aunty UT or forex products.  Few are truly savvy.  But for the overseas accounts its worth having it - protects your foreign currency in Malaysian account and easy to move funds.

year end promotion, apply for CIMB preferred account get  RM100 vouchers.