03 Jul 08 Account Sedar

Sedar (Malay words which means realize), above is a Account Sedar Bank Book. This account introduce by Bank Simpanan Nasional. It is a special saving account which gives more saving interest to you.

It need you to deposit a least RM100 (USD32.2) each month before 7th to get the month interest. It only last for 24 months. So, let me so you how it works…

For example you deposit RM100 each month into account.
It gives you 4.5% for the total amount each year, (once you select RM100 for deposit each month, then you only can deposit RM100, not other amount. It based on the amount for the first deposit input)

End of the year, you will have RM1200 in the account and the bank will gives you RM54 as interest based on 4.5% per year. But for this account bank will additional gives you another 15% on the total interest (Not include the RM1200, only RM54), then you will get another RM8.1.

So, at the end of the 1st year, you will get~
RM1200 + RM54 + RM8.1 = RM1262.1

For the 2nd year, is almost the same but the additonal interest is 30% instead of 15%.

So at the end of 2nd year, you will get~
RM2462.1 + RM110.79 + RM33.2 = RM2606.1

RM2606.1 - RM2400(amount you actually deposit) = RM206.12

Is this great news to you?

For me, this is something better than normal saving account and Fixed Account. Do you have any ideas on any bank which offer better package?

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