Twins separated at birth, Maybank i-Savvy and StanChart e$aver accounts are almost one and the same, and one of the rare occasions one review covers two products. The concept is simple: deposit fresh funds into the account and you will receive almost 2% pa interest. No pesky spending nor income crediting needed.
The catch is that the near 2% rate is usually applicable only for 2 months before it reverts to a pathetic amount, but if you use these accounts together, you can get an ongoing, rather decent interest rate for your savings without having to fulfil the usual activities other bank accounts require. There’s a rather low minimum of $10,000 required, and the maximum is a staggering $1 million of cash savings!
How it works
As of today, the StanChart e$aver account will look at your balance in January 2020 – let’s call this the Assessed Month –...