MayBank SaveUp Programme

[compro_1975]

how to max this account ar? interest given monthly? i see that certain thing bonus given after 6 months for maybank

 

[shpesft]

Quite easy to set up. Just 3 products (I’m doing salary, Giro and Cc spend)

Interest is given monthly.

how to max this account ar? interest given monthly? i see that certain thing bonus given after 6 months for maybank

 

[assiak71]

When bonus intetest in roughly?

 

[gibson7]

every 15th of the month

 

[compro_1975]

Quite easy to set up. Just 3 products (I’m doing salary, Giro and Cc spend)

Interest is given monthly.

Do you have other salary crediting accounts? I thinking to set up privilege banking, any experience if theirs is good or not?

 

[Che_ryl]

I did unit trust option. Must subscribe initial $1K first, then do $300 every month. Unit trust account opening and initial $1k investment can be done through internet banking, and the sales charge through online channel is 50% off. So normally the 5% sales charge is now 2.5%. The $300 month subscribe must be done at the MB branch. The officer give me 50% sales charge discount as well. Waiting to see if get bonus interest next week.

 

[assiak71]

I did unit trust option. Must subscribe initial $1K first, then do $300 every month. Unit trust account opening and initial $1k investment can be done through internet banking, and the sales charge through online channel is 50% off. So normally the 5% sales charge is now 2.5%. The $300 month subscribe must be done at the MB branch. The officer give me 50% sales charge discount as well. Waiting to see if get bonus interest next week.

2.5% is high. Chopped carrot

 

[pinpinpin]

2.5% is high. Chopped carrot

菜头 spotted.

 

[final1]

2.5% is high. Chopped carrot

You are not looking at the full picture.

He is investing $300 in a unit trust with a 2.5% sales charge.
So, that costs $7.50. Yes, i know its even 0% sales charge at other vendors.

Actually, he has $60k in the bank account earning 3% interest because he invested in the unit trust due to saveup programme.
That is $150 interest a month.

It works out perfectly fine for him. He earns $150 a month and just needs to pay $7.50 to do it.

I can guarantee he is doing salary credit + GIRO + unit trust investment to make up the 3 categories.

 

[assiak71]

every 15th of the month

Saw that its in.

 

[Purplestars]

You are not looking at the full picture.

He is investing $300 in a unit trust with a 2.5% sales charge.
So, that costs $7.50. Yes, i know its even 0% sales charge at other vendors.

Actually, he has $60k in the bank account earning 3% interest because he invested in the unit trust due to saveup programme.
That is $150 interest a month.

It works out perfectly fine for him. He earns $150 a month and just needs to pay $7.50 to do it.

I can guarantee he is doing salary credit + GIRO + unit trust investment to make up the 3 categories.

Argument makes sense only if there isn't an alternative to earn the interest. There is card spend that he didn't try to use.

 

[fun4life]

Argument makes sense only if there isn't an alternative to earn the interest. There is card spend that he didn't try to use.

Only if you do have to spend using Maybank CC, right?

Also both CC eligible are not good to spend min $500 to meet the requirement, right?

The target is to earn 3% interest rate but to spend as little as possible.

 

[final1]

Argument makes sense only if there isn't an alternative to earn the interest. There is card spend that he didn't try to use.

You are assuming that using Maybank's 2 credit cards that are offered for Saveup programme is the best way to do it. This is wrong.

There are plenty of reasons why someone may prefer to use a non-Maybank card. Hence, he opted for UT investment to meet the condition.
Nothing wrong with that.

 

[Purplestars]

Only if you do have to spend using Maybank CC, right?

Also both CC eligible are not good to spend min $500 to meet the requirement, right?

The target is to earn 3% interest rate but to spend as little as possible.

I dunno if you have better cards, but I find the 3.33% rebate across the board to be pretty good so I try my best to crank up the "spending" on the card to $1000.

Can't think of another card that is worthy of the spend

 

[Trazora]

You are assuming that using Maybank's 2 credit cards that are offered for Saveup programme is the best way to do it. This is wrong.

There are plenty of reasons why someone may prefer to use a non-Maybank card. Hence, he opted for UT investment to meet the condition.
Nothing wrong with that.

There is no right or wrong. People who find it easy to meet the $500 spending choose card spend. People who find it hard or prefer using other cards choose UT.

Good thing about Maybank visa platinum is that there are not so many exclusions.

 

[fun4life]

I dunno if you have better cards, but I find the 3.33% rebate across the board to be pretty good so I try my best to crank up the "spending" on the card to $1000.

Can't think of another card that is worthy of the spend

- Spending $500 where got 3.33% rebate? 1.99% only lah.
- There are many better cards than Maybank's CC, worthy of the spend of $500.

 

[Trazora]

- How to get 3.33% rebate for spending $500?
- There are many better cards than Maybank's CC, worthy of the spend of $500.

- 3.33% rebate if spend $1000, 2% if $500
- depends what u spend on

 

[fun4life]

There is no right or wrong. People who find it easy to meet the $500 spending choose card spend. People who find it hard or prefer using other cards choose UT.

Good thing about Maybank visa platinum is that there are not so many exclusions.

But all Topup for Ezlink & NFP cards are excluded, right?

 

[Trazora]

But all Topup for Ezlink & NFP cards are excluded, right?

check the TnC.

 

[Che_ryl]

You are not looking at the full picture.

He is investing $300 in a unit trust with a 2.5% sales charge.
So, that costs $7.50. Yes, i know its even 0% sales charge at other vendors.

Actually, he has $60k in the bank account earning 3% interest because he invested in the unit trust due to saveup programme.
That is $150 interest a month.

It works out perfectly fine for him. He earns $150 a month and just needs to pay $7.50 to do it.

I can guarantee he is doing salary credit + GIRO + unit trust investment to make up the 3 categories.

Got my bonus interests. But I am using GIRO + cc spend 500 + unit trust, because my salary tied to POSB SAYE for 2 years for 4% interest.
I spend 300 on platinum for 3.33% rebate, use horizon card for the rest 200. horizon is used for grab and dinner only for 8X treat points. Though I don't take grab taxi too much, I can still use grabpay at subway. subway is my usual meal choice.