RHB has increased the interest rate for their Smart savings account to 3.35%, making it the highest in town. Keep in mind these rates are conditional on fulfilling specific criteria each month, but the good news is that these conditions are very easily met.
Here's how:
- Maintain a minimum RM1,000 average daily balance at all times.
- Deposit RM2,000 into the account once a month, either manually or via a standing instruction from another bank. This RM2,000 does not need to remain in the account.
- Pay any bill for any amount 6 times (even RM1) from this account each month.
By fulfilling the above criteria, you will get 3.35% p.a.
interest on your monthly average balance in the account, for up to RM100k, i.e.
keeping RM100k in the account gets you RM3,350 in interest per year, while having the
full flexibility of a CASA account.
Note that this campaign ends 31 December 2023.
Verdict - Best choice for a conditional savings account in town, good for temporarily parking cash in transit and let it earn some interest.
More info:
https://www.rhbgroup.com/smart/index.html
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