Maybank2u Savers – A High Multi-tiered Interest Rates Saving Account

Maybank2u Savers is an online savings account that provides the convenience of opening, accessing and closing your account without visiting a branch.

You can also enjoy higher interest rate  than the normal saving account with this Maybank2u Savers account. The interest rate is lower than a fixed deposit’s but it gives you the flexibility of withdrawing any amount and any time from the account without giving up the accumulated interest.  Interest is calculated on a daily basis and credited on a monthly basis.

If you are a Maybank2u user, Maybank2u Savers is a very convenience place to park your extra money temporary and earn some peanuts from it. For example, you want to pay your credit card bill of amount RM5,000 and the payment due date is 10 days away, you can put the RM5,000 into your Maybank2u Savers account for 10 days. You will earn about RM3.08 of interest for that month and you can buy teh tarik for yourself and your friend.

Pros

1. You can apply online without needing to submit any document. You just need to have a Maybank2u account.
2. High interest rate than normal account.
3. Can withdraw money any time.
4. No passbook and can be linked to your current saving accounts so that you can withdraw money via ATM from this account.

Cons

• High initial deposit – RM250.
• High minimum amount to maintain – RM250. Important!
• High minimum amount to enjoy interest – RM250.
• High service charge if you close the account within 3 months from the account activation date.

What are the interest rates

• 2.25% per annum for saving of RM2,000 to RM50,000.
• 2.45% per annum for saving of RM50,000 and above.

How to apply

1. Log-in to Maybank2u account at Maybank2u.com.my.
2. Click Apply Online at the home page.
3. Select M2U Savers.
4. Fill in the details and click continue (You will need to transfer RM250 from your existing account).