Money Matters

Money Matters Malaysian news, promotions, and insights on finance, investments, savings, insurance, and money.

Bank Negara Malaysia, US Feds, and European Central Bank all raised their base rates this week, but the consensus is tha...
07/05/2023

Bank Negara Malaysia, US Feds, and European Central Bank all raised their base rates this week, but the consensus is that this should be the last of it. Sharing a few of the charts that surfaced this week. For people who are cash rich and looking to maximize their FDs, a few depositors were lucky to get 4.5% p.a. for a 12-month OTC placement at Bank Islam on Friday morning, before the rate became unavailable for everyone else who tried to follow suit.

Look out for higher campaign FD rates next week!

A quick add on to the prior post on the Standard Chartered Bank credit card sign up cash reward - for the past few month...
30/04/2023

A quick add on to the prior post on the Standard Chartered Bank credit card sign up cash reward - for the past few months SCB has been aggressively retaining cardholders, with the best offer of another RM100 cashback for any spend of RM200, which when added to the earlier RM800 bonus, makes a total of RM900.

Not bad for just applying for a credit card.

RinggitPlus is offering the highest ever cash reward for applying for a Standard Chartered credit card at RM800, in Touc...
25/04/2023

RinggitPlus is offering the highest ever cash reward for applying for a Standard Chartered credit card at RM800, in TouchNGo credits. If you don't yet have a SCB card, now is the time to apply and grab that RM800. To qualify, you need to be approved and swipe at least 8 times within 60 days of approval, and also provide your EPF statement as proof of income (alternate evidence of income will qualify for RM700 instead). The list of qualifying SCB cards are listed in the T&Cs.

Verdict - now is the time to apply for an SCB card. This adds another RM800 to our annual total cash collected.

More info - https://ringgitplus.com/en/credit-card/Standard-Chartered-Simply-Cash-Credit-Card.html

Melaka Securities launched M+ Global for trading in US and HK markets last month. This puts it in direct competition wit...
19/04/2023

Melaka Securities launched M+ Global for trading in US and HK markets last month. This puts it in direct competition with Rakuten Trade. As part of the launch campaign M+ is offering RM20 and 5 free Grab shares, as well as free live quotes to US and HK markets for 30 days. Do note you need to deposit RM10k into your M+ Global account to qualify, although there is no requirement to keep it there.

The campaign has been extended, and the sign-up goodies are still available, so feel free to 'grab' them while it still lasts.

Alliance Bank is back with it's new-to-CASA campaign, urging you to open a savings account in exchange for up to RM130 c...
18/04/2023

Alliance Bank is back with it's new-to-CASA campaign, urging you to open a savings account in exchange for up to RM130 cash when you make a deposit of RM10,000. In addition, opening a savings account as a new customer also makes you eligible for the 4.2% eFD rate for 12-months, which is pretty sweet when you combine that with the RM130 cash bonus for opening a savings account.

Verdict - go for it if you don't yet have a savings account with Alliance.

More info - https://www.alliancebank.com.my/promotions/banking/saveplus-dash4cash-efd-promotion

If you are not yet an Alliance Bank Privilege or Personal tier banking customer, you are eligible for their premier bank...
18/04/2023

If you are not yet an Alliance Bank Privilege or Personal tier banking customer, you are eligible for their premier banking sign-up campaign, where you can place FDs for 4.3-4.5% after qualifying at either tier. To qualify, you'll need AUM at RM100k or above for Personal tier, or RM300k or above for Privilege tier.

The maximum deposit for the campaign is RM100,000 @4.30% for Personal tier and RM1,000,000 @ 4.50% for Privilege tier.

Rakuzen Trade has announced last Friday that they have lowered the minimum brokerage rate to 1% and with a minimum broke...
17/04/2023

Rakuzen Trade has announced last Friday that they have lowered the minimum brokerage rate to 1% and with a minimum brokerage fee of RM1. This applies to all markets, and for all trades valued under RM700.

Does it really make RT the cheapest in town? Well yes in certain scenarios. Mostly it's when you're trading small amounts and will save from the lower minimum amount, even if it was at 1% , e.g. RM2 for a trade worth RM200.

More info - https://www.rakutentrade.my/

Standard Chartered Bank's online global stock trading platform is offering as low as 0% / RM0 brokerage rates for their ...
16/04/2023

Standard Chartered Bank's online global stock trading platform is offering as low as 0% / RM0 brokerage rates for their top tier premier banking customers, in this case the Priority Private tier.

Is a 0% brokerage good? Or course it is! Is it worth becoming a Priority Private banking customer? That's probably the better question, as you need to place at least RM3 million in deposits or investments with SCB.

For personal banking customers, the brokerage rate is 1% with a minimum of RM3 for Bursa Malaysia.

The below notice of Stashaway's revision of Simple's return from 3.3% to 4.1% came out 6th April, and came into effect t...
12/04/2023

The below notice of Stashaway's revision of Simple's return from 3.3% to 4.1% came out 6th April, and came into effect today. Deposits into this cash fund will gain 4.1% p.a. net returns. That's not too bad.

Verdict - with all the flexible savings and cash funds offering high returns these days, this is another good addition to your portfolio for diversification. Obviously, 5% is better than 4.1% but when the 5% promotion ends, or you have more funds than the cap on the 5% limit, then 4.1% is one of the next best.

Like Affin Bank did with A1addin, Al-Rajhi Bank in Malaysia has also launched Rize recently, which didn't attract much a...
11/04/2023

Like Affin Bank did with A1addin, Al-Rajhi Bank in Malaysia has also launched Rize recently, which didn't attract much attention earlier due to the lack of incentives to join, but have now revised their campaign to attract new sign-ups to open a Savings Account-i, by dangling a 5% profit rate for the first RM5,000 you place in this account.

That's a pretty good rate, and the campaign lasts until end-August 2023. Any amount above RM5k will earn 4% interest, which is still higher than 12-month FD rates with some banks! Interest is paid out on the 1st of each subsequent month.

Verdict - worth opening an account for the 5% + 4% profit rates, with no upper limits or caps. Delicious.

More info - https://rize.com.my/

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