Sahabat Agro

Sahabat Agro is an interesting concept that is launched by Agro Bank. This is perhaps on of the first MLM saving scheme ever launched by a Bank in Malaysia. So is this scheme sustainable or legitimate?  Agro Bank fully is owned by Ministry of  Finance which makes this a legit bank unlike other hanky panky MLM scheme that you find in Malaysia. This saving program is also Shariah compliant

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How does Sahabat Agro Works ?

Sahabat Agro works based on MLM or refferal concept. With a sahabat Agro account, you can refer your friends or family to become a depositor under the same scheme. With just a minimum of RM 500 deposit for 12 months for Sahabat Agro and RM 20 deposit for Agro Savings account, this would enable you to earn a 0.25% interest which is pretty low. The beauty of the system is that you can earn extra fraction of 0.7% interest based on whatever your referred depositor placed. The calculation is not exactly 0.7% and depends on referred level.  If your referrals referred their friends, you will also get to enjoy interest up to a maximum of 4 levels.

According to some marketers, you can earn as much as RM 21,668.49 passively. Yes it’s possible however you will need a lot of referrals and deposit amounting to 160 million !!!

 

Is this scheme legitimate ?

From our calculation, this scheme is totally legitimate unlike other ponzi schemes which are offering as high as 20% per month return. The Interest rates offered by this scheme is just 0.25% p.a + 0.7% x (number of referred depositors) x (percentage of level). The interest is very low even lower compared with high interest savings or fixed deposit account in Malaysia. There are not much incentives from the interest. You can only earn a lot if you referred a lot of depositors and your refereed network is strong.

You will only need to deposit Rm 500 to join the scheme while the interest will only be credited to your saving account after 12 months.

 

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Requirements

  • Malaysian citizens or Permanent Residents who are 18 years and above
  • Minimum deposit starts from RM 500 for Sahabat Agro
  • 12 Months minimum deposit

Pro

  • Very good concept using MLM to earn passively
  • Income can be check online montly via Agronet

Cons

  • Manual referral where your ID must be written on the application form during submission, it would be nice if have your own online URL where it can be tracked automatically by Agro bank for refferal
 

RHB Credit Card

RHB Bank offers 8 different types of credit cards and they offer 0% interest for 6 months if you signed up for any of their credit cards. Below is a list of different cards for you to compare to see which type of card is suitable for you.

 

RHB Platinum Business Card

  • Minimum monthly income: RM10,000
  • Interest rate: 15% per annum
  • Balance transfer: 4% per annum (one-time upfront fee)
  • Annual Fee: Free
  • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
  • Enjoy 1% cash back on shopping, groceries, dining and entertainment expenses
  • Travel insurance coverage of up to RM1,000,000
  • Purchase Protection Plan coverage of up to RM30,000 per annum against damage, loss and theft for up to 30 days from the purchase date

 

RHB SOGO-RHB Credit Card

  • Minimum monthly income: RM2,000
  • Interest rate: 15% per annum
  • Balance transfer: 4% per annum (one-time upfront fee)
  • Annual Fee: RM88
  • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100

 

  • Enjoy 5% cash back for spending RM1,001 and above, 3% cash back for spending RM501 to RM1,001 and 1% cash back for spending less than RM500 on shopping and groceries
  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB Signature Credit Card

  • Minimum monthly income: RM8,334
  • Interest rate: 15% per annum
  • Balance transfer: 4% per annum (one-time upfront fee)
  • Annual Fee: RM600
  • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
  • Enjoy unlimited 0.5% cash back for all local transactions and unlimited 1% cash back for all overseas transactions in dining, shopping, groceries, utilities and entertainment
  • Exclusive 20% discount at all Plaza Premium Lounges worldwide
  • Complimentary golf privileges are available worldwide
  • Concierge service
  • Travel insurance coverage of up to RM2,000,000

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB World MasterCard Credit Card

    • Minimum monthly income: RM8,333
    • Interest rate: 15% per annum
    • Balance transfer: 4% per annum (one-time upfront fee)
    • Annual Fee: Free
    • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
    • Enjoy Up to 6% cash back for local transactions, up to 2% cash back for overseas transactions
    • Golf privileges are available worldwide
    • Five complimentary access to Plaza Premium Lounges in Malaysia
    • Travel insurance coverage of up to RM600,000 if you use this credit card to purchase your airline ticket

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB Visa Infinite

    • Minimum monthly income: RM20,000
    • Interest rate: 15% per annum
    • Balance transfer: 4% per annum (one-time upfront fee)
    • Annual Fee: Free
    • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
    • Enjoy up to 3X reward points from retail spending in shopping, groceries, dining, petrol and utilities for local transactions
    • Enjoy up to 5X reward points for oversea transactions
    • Four complimentary speed pass at Soekarno Hatta Airport, Jakarta, Bangkok Suvarnabhumi Airport, Thailand and Ninoy Aquino International Airport, Manila
    • Eight complimentary access to Plaza Premium Lounges in Malaysia and Singapore effective from 1st of October 2016
    • Complimentary 1-for-1 privileges on selected spa treatments at Angsana Spa and Mandara Spa and an additional 20% discount on other spa packages
    • Complimentary tee off at over 11 international golf courses worldwide
    • Travel insurance coverage of up to RM3,000,000 and get Travel Inconvenience Coverage if you use this credit card to purchase your airline ticket

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB Platinum Credit Card

    • Minimum monthly income: RM4000
    • Interest rate: 15% per annum
    • Balance transfer: 4% per annum (one-time upfront fee)
    • Annual Fee: RM212
    • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
    • Enjoy 15% cash back on weekend dining transactions
    • Enjoy earning up to 2X reward points on retail spending in dining, shopping, groceries and petrol
    • These points can then be exchanged into Enrich points or Singapore KrisFlyer Miles points for travelling
    • Enjoy complimentary tee off at the Glenmarie Golf & Country Club and Perangsang Templer Golf Club

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB Smart Value Credit Card

    • Minimum monthly income: RM2,000
    • Interest rate: 15% per annum
    • Balance transfer: 4% per annum (one-time upfront fee)
    • Annual Fee: RM74.20
    • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
    • Enjoy up to 5% cashback from spending in shopping, groceries, online, petrol and utilities
    • Enjoy up to 0.2% cashback from other types of spending like dining and entertainment
    • Travel insurance coverage of up to RM100,000 if you use this credit card to purchase your airline ticket

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

RHB MyEG-RHB Credit Card

    • Minimum monthly income: RM2,000
    • Interest rate: 15% per annum
    • Balance transfer: 4% per annum (one-time upfront fee)
    • Annual Fee: RM88
    • Late payment charges: 1% of outstanding balance or RM10 up a maximum of RM100
    • Enjoy earning up to 5X reward points when you pay your utility bills, renew your road tax or purchase any services available on MyEG website and counters with your credit card
    • Enjoy earning up to 1X reward points for other types of spending like groceries, shopping, dining, petrol and utilities

 

  • Enjoy 0% interest on instalment payment plan at all participating merchants

 

 

Additional Ongoing Promotions

Here are some of the ongoing promotions that you can take advantage of if you are a RHB credit card owner or planning to sign up for one:

  • Get 2 cups of coffee for the price of 1 at Espressolab for dine-in only with RHB Credit and Debit Cards (Valid until 31st December 2016)
  • Get RM50 Madam Kwan’s Voucher with a minimum spending of RM200 with your RHB Credit & Debit Cards (Valid until 30th of November 2016)
  • Get a complimentary dessert at Madam Kwan’s restaurant with RHB cards (Valid until 31st of March 2017)
  • Get your Samsung Gadgets with the RHB 0% Smart Instalment Plan (Valid until 1st of December 2016)
  • Buy 1 Get 1 bowl of Soup at Din Tai Fung with RHB Cards (Valid until 31st of October 2016)
  • 1 for 1 Movie Ticket on Every Friday with RHB Cards (Valid until 28th of February 2017)

For the specific details on each promotion, please kindly refer to RHB Bank’s official website.

 

 

Alliance Bank Fixed Deposit Promotion ( 6 months and 9 months)

Great news, Alliance Bank has finally launched a few Fixed Deposit promotion. Depositors can enjoy a great 4.25% p.a with 6 months deposits and a high 4.35% p.a with a 9 months deposits.  This is a conventional and not an Islamic Fixed deposit.

Things you should know

The fixed deposit campaign starts from 20 Nov 2015. This campaign is available to new and existing Alliance Bank customers. As of a lot of Fixed Deposit promo in Malaysia, this promotion will require depositor to deposit fresh funds which means that the source of the funds must not be from any Alliance or Alliance Islamic bank accounts. This applies not limited to existing savings, currents ,fixed deposit or any other accounts . The minimum deposit in order for you to enjoy the promotion would be RM 25,000 which is rather high as compared with other FD promotion in Malaysia.

There are 2 choices of the promotion which is at 6 months and 9 months. Depositors can enjoy a 4.25% p.a for 6 months while 4.35% with 9 months period. Personally, I would opt for 6 months for less lock in period just in case there are any other interesting promotion in Malaysia. Upon maturity of the promo, the fixed deposit would than be automatically reverted to standard board rate. There are no written terms on the early upliftment of the loan so do expect the bank for forfeit the interest if you are planning to do withdrawal earlier than the campaign period. This promotion is eligible for protection from PIDM.

E-FD

Alliance Bank is also running a concurrent promotion with the 6 months and 9 months promo. All terms are the same except that the E-FD promo is valid for Alliance Bank E-FD deposits only.

Campaign period ends at 31st of March 2016. Do hurry up to deposit if you are keen to enjoy the rates !