June, are the T's and C's for this iQ account similar to previous year's, or there are changes ? Esp on the interest rate ? Thank you,.......

June, I appreciated your advice.... Thank you.

Do PM me if the rates become good later......

Vijay, thank you,... wow, 4%, better than everywhere else, even better than the Foreign Currency FDs for the AUS and the NZD. Can we put more than RM 1K/month ? What is the maximum amount ?

At the end of the 3 years, we can opt to remain as an iQ customer, thereby keeping and paying for the card, or we can opt not to continue as an iQ customer. Unless, of course, they waive the fees.

I think the biggest drawback in this iQ program is the account maintenance fees that we have to pay.

If you look at the website, it's RM5.00 per month.

Secondly, don't forget that we have to keep a minimum of RM 5000 always in the Current Account, this will not earn us any interest every month.

Therefore, our 'monthly cost' here would be the above 2 factors.

We then need to use the 4% pa interest earned to offset the above 'monthly cost'.

For an individual who does not have a Current Account yet, nor a CC yet, it would be good.

Otherwise, I wouldn't know the advantages of opening an additional account as the iQ.

Thank you,...

Well, on my part, I have people running all those things and chores for me, like tracking my acocunt balance so that my cheque does not bounce, ensure my ALL my tenants pay their utility bills every month since the prop utilities are under mine and my company's name, etc, and other chores.

It is a sunken cost to me, thus, I don't wish to have a duplicate expense. RM5 is not a lot, but we are talking about money management here.

Having one Visa and one Mastercard Plat cards are sufficient for me, don't need another one.

If the 200k left inside the HSBC account yields something, then it's worth it, otherwise, it's best to be in other vehicles.

About that structured deposit from HSBC, I'm afraid I am not so much for structured deps anymore, I am very deep in them from all that I have bought in Sgp and Canada.

By the way, HSBC Priority Customer for 200k is not a big deal, that's just USD55k.......

I wanted that 4% from iQ because this is one channel of diversification for my RM, to be safe in the highest possible FD instrument in RM.

I was about to say one more thing - but lookie got ahead of me - it's that 4% can drop anytime,... even after you have signed-up for the iQ,....... Now it has dropped !

Hi June,....... what is the interest rate for the savings plan under iQ now ? Is it still at 4% ? Thank you,......