Financial Independence

Best credit cards in Malaysia: Earn cashback & air miles with a hybrid strategy

By Leigh
Updated May 24, 2025 Filed Under: Credit Cards, FI/RE, Financial Independence, Financial/Life Hacks 18

In today’s fast-paced financial world, choosing the best credit cards can mean unlocking rewards that not only ease your everyday expenses but also pave the way for your dream travel destinations. I personally think that credit cards are a great companion in one’s financial journey. You just have to make sure that you make prompt and punctual payments every month. You do not want to pay the 18% p.a. interest that comes with late payments.

If you struggle with self-discipline and all you see in a new credit card is more spending, there is no need to read on. Stick with your debit card, e-wallets and cash. However, if like me, you see credit cards as a smart way to defer payments and enjoy a month of interest-free benefits, then keep reading!

A small note is that ALL credit cards are charged RM25 SST by the government per card. This is a given and there are no two ways about it.

My credit card strategy – RM5K spending a month

CIMB Visa Infinite – I consolidate the bulk of my spending here. And when I hit RM5K per month, I get additional bonus points.

AMEX Maybank 2 Cards – I aim to spend at max RM1K a month here on weekends only to take advantage of their 5% weekend cashback. Mostly on petrol and shopping on weekends.

Alliance Visa Infinite – I use this to top RM3K into my e-wallet. Shopee Pay mostly and TnG (1% fee). Maxing this out every month can net me a round trip to nearby countries once a year – think Thailand, Singapore or Indonesia.

I have more details on the above 3 cards I use, and more down below. Feel free to customise and pick the best cards for yourself.

The best way to earn and rack up credit card points WITHOUT going into debt

Let me emphasize that you should not be looking to get too many cards and you should ALWAYS pay your credit card debt on time. You should all know that credit card’s late payment interest is the highest, which is why you settle them first.

The best way to rack up credit card points without going into debt is to treat your credit card like a debit card and only spend what you can afford to pay off in full each month.

Here’s how you can maximize points while staying financially responsible, remember these 10 golden rules:

1. Use your Credit Card for everyday expenses

Use your credit card for expenses you would have paid in cash or with a debit card anyway.
e.g. Pay for groceries, dining, petrol, utilities, and subscriptions with your credit card.

2. Always pay in full and on time

Avoid interest charges by paying your balance in full before the due date.
A good idea is to set up auto payments to avoid late fees.

3. Optimize bonus categories

Choose a card that rewards your spending habits (e.g., cashback and air miles – more on this strategy later).
Some cards offer 5X points on dining and travel while others focus on cashback for shopping or fuel.

4. Stack rewards and promotions

Use credit card promos, cashback apps, and e-wallets to double-dip on rewards.
Pay via ShopeePay, GrabPay, or Boost if they offer extra points for top-ups (e.g. Alliance Visa Infinite, Affin DUO Visa)

5. Take advantage of welcome bonuses

Many cards offer sign-up bonuses if you hit a spending target within the first few months.
If you were planning a big purchase, time it with a new card application. Look no further than websites like RinggitPlus and CompareHero.

6. Pay bills and large purchases with your card

Consider using your card for insurance, rent, or tuition fees, if there are no extra fees.
Some banks allow you to earn points when paying government bills via their online portals.

7. Use supplementary cards wisely

If you have family members, get them supplementary cards to earn points faster.
Ensure they follow the same pay-in-full policy to avoid unnecessary debt.

8. Convert points into valuable rewards

Redeem points for air miles, cashback, or travel perks (make sure you do the math and not just redeem random RM10 vouchers).
Some cards allow you to transfer points to airline or hotel loyalty programs for better value.

9. Be strategic with multiple cards

Use different cards for different spending categories (e.g., one for travel, one for dining).
Ensure you track your spending so you don’t overspend chasing points.

10. Avoid cash advances & unnecessary fees

Never withdraw cash as an advance from your credit card—it incurs high interest and fees.
Be mindful of annual fees and only pay if the perks outweigh the cost.

A sidenote – Maybank 2 Cards Premier AMEX Reserve is the worst card to have now

I’ve spent the past week researching ways to restructure my finances and optimize my credit card usage. I talked about my Maybank 2 Cards Premier previously here and even touted the cards as the best card for air miles.

They’ve since fallen from grace and are not worth it anymore. If you did not already know, Maybank has recently implemented a shared monthly quota of 100 million air miles across the board for ALL their users. The quota is often exhausted within minutes of the new month. This is ridiculous and no one is happy about staying up on the 31st and waiting for the clock to strike midnight to convert their friggin miles.

I foresee Maybank slowly increasing the 100 million point cap but it may be too late as everyone I know has moved to greener pastures. We’ll get to which card would be best for air miles in a bit, but let’s talk about cashback first as I believe that should be a priority.

The hybrid approach – Comparing the best credit cards for cashback and air miles

We will look at a few criteria for credit cards.

Annual fee and waiver requirement
Income requirement (no exorbitant invite-only cards for the ultra-rich etc)
Cashback rate and point conversion rate
Lounge access and travel insurance
Recommended way to use said card and other terms and conditions

The best credit cards in Malaysia for Cashback

Maybank 2 Gold/Platinum Cards Review – Best Maybank Credit Card

Link to apply

Annual fee: Free for life
Income requirement: RM30,000 (gold) or RM60,000 (platinum) p.a.
Cashback rate: 5% (RM50 monthly cap)
Point conversion rate: 5x TreatsPoints for spending with AMEX, 1x TreatsPoints for spending with Visa/Master
Travel insurance: Coverage of up to RM700,000 when you charge your travel tickets in full (make sure to read the terms of the insurance in full and what it covers specifically)

Alright, so this one here has always been the OG and holy grail of cashback credit cards. Maybank 2 Gold Card is often considered the best entry-level credit card here in Malaysia. Also, there is no difference between the Gold and Platinum other than the fact that you get a higher credit limit with the Platinum. You get two cards from Maybank here – 1x AMEX and 1x Visa/Mastercard. We’ll mostly be looking at the AMEX card as it gives you the cashback and most points.

Previously, there have been cases where cardholders only activated their AMEX and left their Visa/Master dormant to avoid paying the RM25 SST on both cards. And as of 2018, we are unable to do this anymore.

“If the card is not activated within 3 months, the Service Tax will be imposed on the 3rd month.”

best credit cards in malaysia Maybank 2 cards AMEX SST

So be prepared to pay RM50 in SST to the government for both cards. Fret not though, read on and you’ll realise that the benefits outweigh the RM50 charge.

First and foremost, Maybank does not charge you any fees for both cards, it is free for life without any conditions. I plan to keep this card for life and never cancel it unless Maybank starts messing around with the fees or cashback.

With the Maybank 2 Cards AMEX, you get a guaranteed 5% cashback and 5X TreatsPoints.
A few things to note:

You get the 5% cashback only on weekends
There is a cap of RM50 per month. This means a maximum spending of RM1,000 per month.
You get 5X TreatsPoints if you use it during weekdays
No cash back for transactions related to government, utility bills and eWallets top-up.

I plan to use the AMEX for the following expenses:

Petrol (Petronas)
Accommodation (hotels, Airbnb etc)
Telco (CelcomDigi)
Grab food – pay direct instead of top up to GrabPay

Of course, I’ll do my best to swipe the AMEX only on weekends for the cashback. The above expenses should get me to RM1,000 spend every month to get RM50 in cashback. Get used to asking every cashier and merchant you meet – “Do you accept AMEX?”
You’ll be surprised that many actually do.

Maybank Islamic Ikhwan American Express Platinum Card-i Review

best credit cards in malaysia Maybank Islamic Ikhwan AMEX Platinum Card-i

Link to apply

Annual fee: Free for life
Income requirement: RM40,000 p.a.
Cashback rate: 8% (RM50 monthly cap, RM100 cap for Ramadhan and Syawal months)
Point conversion rate: 1X TreatsPoints for Gov Utilities, Education etc. (see above image)

This is an excellent card for ONLINE spending. You get 8% cashback with a cap of RM50 per month (RM100 on Ramadhan and Syawal months). It is free for life as well.

I plan to use this solely for online transactions – Shopee, Lazada and Grab. Make sure you’re using the AMEX as a payment method and not to top up. I’ll be using the previously mentioned Maybank 2 Cards AMEX for over-the-counter transactions and then Ikhwan AMEX for online ones. The monthly spending cap is just RM625 per month to reach RM50 in cashback.

We’ll focus solely on the card’s cashback prowess and set aside TreatsPoints, which fall short compared to those offered by the Maybank 2 Card AMEX. However, if you have sizable government bills, the Ikhwan AMEX provides 1X TreatsPoints for government transactions—making it a smart choice for those specific payments.

AFFIN DUO Visa Cash Back Review

best credit cards in malaysia AFFIN DUO Visa Cash Back

Link to apply

Annual fee: Free for the first 3 years. (RM75, subsequently waived with 12 retail transactions)
Income requirement: RM24,000 p.a.
Cashback rate: 3% (RM30 monthly cap)
Point conversion rate: Not worth looking into

Look at the t&c and you’ll find that this is the card that gives you cashback for e-wallet top-ups! And we’ll be opting for the Visa Duo and not the Mastercard.

Since I won’t be spending heavily on this card, I’ll only qualify for the RM30 monthly cashback instead of RM50—which requires a minimum spend of RM3,000. I’ll primarily use the card for e-wallet top-ups (which will yield a net gain) and for my monthly insurance auto billing. Together, these transactions should total RM1,000, hitting the RM30 monthly cashback cap.

UOB ONE Card Review

best credit cards in malaysia UOB ONE Card

Link to apply

Annual fee: Free for the first year. (RM120 subsequently years)
Income requirement: RM24,000 p.a.
Cashback rate: up to 10% (RM10 monthly cap per category)
Point conversion rate: Not worth looking into

One of the best credit cards out there, the UOB ONE Card has a few categories eligible for 10% cashback, with a monthly cap of RM10 for each category. You’ve got to hit >RM500 minimum spend per month to qualify. Categories include:

Petrol – 10% cashback
Groceries – 10% cashback
Dining – 10% cashback
Grab – 10% cashback
Other Retail Spend – 0.2% cashback

Note: There is a higher tier card called UOB ONE Platinum Card which has a higher cashback cap of RM15 per month and monthly minimum spend of >RM1,500. The income requirement is RM60,000 p.a.

RHB Shell Visa Card Review

best credit cards in malaysia RHB Shell Visa Credit Card

Link to apply

Annual fee: Free for the first year. (RM195, subsequently waived with 24 swipes)
Income requirement: RM24,000 p.a.
Cashback rate: up to 12% (RM50 monthly cap per category)
Point conversion rate: Not worth looking into

If your go-to petrol station in Malaysia is Shell, then this is one of the best credit cards for you. With a monthly spend of >RM2,500 on your card, you get a maximum of 12% cashback (RM50 monthly cap). Spending RM417 on your petrol per month would get you to the RM50 cap.

Hitting >RM2,500 monthly spend, you also qualify for 5% cashback (another RM50 monthly cap) on the following:

Groceries
Online Spend
E-wallet reload
Utilities

Spending another RM417 on the above categories will get you to the other RM50 cap as well. This leaves you with RM1,666 left to spend and getting only 0.2%. I didn’t like that I’d have to waste the RM1,666 leftover. This is a pretty good card if you’re willing to spend >RM2,500 on this card alone. You could potentially get RM100 in monthly cashback with this card. Not too shabby at all.

Bank Islam Visa Platinum Credit Card-i Review

best credit cards in malaysia Bank Islam Visa Platinum, Visa Infinite, Visa Gold Review

Link to apply

Annual fee: RM388 – waived with 12 swipes in a year
Income requirement: RM36,000 p.a.
Cashback rate: 3% – 5% (RM30 monthly cap)
Point conversion rate: Not worth looking into

Bank Islam has some pretty good credit cards lined up. We’ll take a look at the more attainable Bank Islam Visa Platinum Credit Card-i. You get a 3% cashback on spending between RM500 – RM1,499. Anything above RM1,500 and you’re eligible for 5%.

What I don’t like about this arrangement is that you only get cashback above a certain spending and that’s a big no for me. But otherwise, the cashback is pretty straightforward to reach and it’s a pretty good cashback %.

Bank Islam’s card is not the best credit card out there and is a hit-or-miss for me. I’d go for the other cards mentioned above for cashback.
Also, as it is an Islamic card, you’re prohibited from certain merchants.

The best credit cards in Malaysia for Airmiles

Alliance Bank Visa Infinite Review

best credit cards in malaysia Alliance Bank Visa Infinite Card

Link to apply

Annual fee: Free for the first year. (RM438, subsequently waived with minimum spend of RM12,000 p .a.)
Income requirement: RM60,000 p.a.
Cashback rate: No cashback
Point conversion rate: 15,000 TBP for 1,000 Enrich Miles. RM2-3 – 1 Enrich Mile
Lounge access: 2X complimentary access to Plaza Premium lounge, 1X access to Travel Club lounge. Principal cardholders only

After talking about all the best credit cards for cashback, it is now time to look at air miles. Below are the Timeless Bonus Points (TBP) given for every RM1 spent.

8X TBP – online shopping and e-wallet reload (RM3,000 cap, 1X TBP after)
5X TBP – Dining, groceries and overseas transactions
1X TBP – contactless transactions, entertainment, auto-billing, and other retail transactions (including Instalment Payment Plan, Flexi Payment Plan, JomPay and FPX transactions)

At its peak optimisation, the Alliance Visa Infinite card will convert 1 Enrich Point for every RM1.875 spent online.

Why this card? Not every merchant accepts AMEX, and the previous three cards come with monthly cashback caps. The Alliance Visa Infinite will act as my filler card, given that Visa is accepted almost everywhere. I’ll use this card for all other categories—places that don’t accept AMEX, like food, accommodation, parking, and more. You get the idea.

Now, this is by far not the best card for airmiles but it fits my strategy and needs. One of the best for miles is actually below – Maybank’s Singapore Airlines KrisFlyer AMEX Platinum Card.

CIMB Preferred Visa Infinite

Link to apply

CIMB Preferred Visa Infinite Points and Bonus Points

Note: auto-debit/recurring transactions do not count towards points.

Annual fee: Free for life (as long as RM250K AUM is maintained to remain a CIMB Preferred client)
Income requirement: Nil. You just need the RM250K parked with CIMB
Cashback rate: No cashback
Point conversion rate: RM2 – 1 Mile
Lounge access: 8X unconditional access to Plaza Premium lounge including for supplementary cardholders. Special access to prestigious lounges like Plaza Premium First in Malaysia.

This is one of the best cards in terms of Premium Plaza Lounge access. They have campaigns too where you can earn 35,000 bonus points by meeting a few conditions. If you’re eligible and have RM250K to park with a bank, then by all means, go for it.

Also, if you’re spending RM10K a month consistently, this will be the card to charge all your expenses too. But I think for the average Malaysian, RM10K a month in spending is a little high. So if you’re like me and spend maybe close to RM5K a month, look at CIMB’s Visa Infinite below.

CIMB Visa Infinite

Link to apply

Note: auto-debit/recurring transactions count towards points!

Annual fee: Waived
Income requirement: RM60,000 per annum
Cashback rate: No cashback
Point conversion rate: RM2.5 – 1 Mile
Lounge access: 5X access to Plaza Premium lounge (NOT for supplementary cardholders). Spending of RM60,000 required.

This is the card I’m using as my monthly spending is in the range of RM5K – 6K.
To keep things simple, I consolidate the bulk of my spending here.

Maybank Singapore Airlines KrisFlyer AMEX Platinum Card Review

best credit cards in malaysia Maybank Singapore Airlines KrisFlyer AMEX Platinum Card

Link to apply

Annual fee: Free for the first year. (RM300 for subsequently years)
Income requirement: RM60,000 p.a.
Cashback rate: No cashback
Point conversion rate: RM2-2.5 – 1 KrisFlyer Mile
Lounge access: 5X complimentary access to Plaza Premium lounge

With this card, the biggest benefit by far is that you bypass Maybank’s ridiculous monthly 100 million miles cap that ALL their cardholders face. With this card, your Krisflyer miles are credited directly to your KrisFlyers account every month.

If you’re into miles, this card here would top the list for me. However, I decided not to sign up because after using my Maybank 2 Cards AMEX and Ikhwan AMEX, I wouldn’t have much left over to maximize this card’s benefits. I prioritize cashback first, and then any additional spending goes towards earning miles.

To keep it simple—following my hybrid strategy—if you’ve maxed out spending on your cashback cards and still have extra funds to spend, this card is an excellent option. Personally, I chose the Alliance Visa Infinite instead to serve as my filler card.

The 4 best credit cards in Malaysia – 2025 hybrid strategy

I spend an estimated RM5K per month using my credit cards. And these are the best credit cards that fit my hybrid strategy.

Maybank 2 platinum cards AMEX – 5% cashback (RM1,000 spending)
Petrol, accommodation, telco, Grab (weekends only)
Maybank Islamic Ikhwan American Express Platinum Card-i – 8% cashback (RM625 spending)
Government transactions and online spending – Lazada, Shopee
AFFIN DUO Visa Cash Back – 3% cashback (RM1,000 spending)
E-wallet reload and insurance auto-billing
Alliance Bank Visa Infinite – Filler card for everything else
Food, accommodation, parking, meta ads top-up etc. Anywhere that doesn’t accept AMEX.

These 4 cards make up my hybrid strategy. If you’ve got any ideas or suggestions that will help, please feel free to comment and let me know how I can improve and up my credit card game. Would genuinely love to be able to improve and let everyone know at the same time.

If you’re exploring credit cards, you might also be interested in Premier Banking in Malaysia. Discover the best Premier Banking options from Malaysian banks here.

As always, follow my Facebook and Instagram to keep up to date!

Car Loans in Malaysia: Choosing the Right Tenure and Avoiding Costly Mistakes

By Leigh
Updated February 6, 2025 Filed Under: Financial Independence, Personal Finance 2

In this article, we will be looking at the personal finance side of car loans in Malaysia. I recently financed the purchase of my car and did some short calculations. Asked myself questions such as:

Should I be paying 100% cash?
When to take a longer-term loan and when to opt for a shorter one?
TLDR – We want to positive carry the loan.

How to Look at Car Loans in Malaysia

Almost all cars are depreciating assets. When purchasing a car in Malaysia, many people rely on car loans to help finance the vehicle. While car loans are a common solution for vehicle financing, understanding the terms and conditions of the loan is essential to making a sound financial decision. In this article, we’ll explore the key aspects of car loans in Malaysia and discuss how to approach them intelligently.

Understanding Car Loans in Malaysia

Car loans in Malaysia are generally offered by banks and other financial institutions, with terms that range from 5 to 9 years. The interest rates vary depending on factors like the length of the loan, the borrower’s creditworthiness, and the car’s value. While car loans may seem like an easy way to own a car, understanding the long-term financial impact is crucial.

Loan Tenure

The Pros and Cons of Long Loan Tenures

A significant consideration when taking out a car loan is the loan tenure. Many borrowers opt for longer tenures because they offer lower monthly payments, which can make the loan more affordable on a month-to-month basis. However, longer loan terms come with their drawbacks. One of the major downsides is the higher total interest paid over the course of the loan. While the monthly repayments may seem manageable, borrowers often end up paying far more in interest compared to a shorter loan term. Moreover, cars lose value quickly, and with a long loan tenure, the vehicle may depreciate faster than the borrower can pay off the loan, leaving them owing more than the car is worth.

The Advantages of Shorter Loan Terms

On the other hand, shorter loan terms, typically ranging from 5 to 6 years, come with higher monthly repayments but offer significant advantages. With a shorter loan term, you’ll pay off the loan more quickly and incur less interest overall. This is financially advantageous in the long run, as the total cost of the loan is reduced. Additionally, because you’ll owe less on the car as it depreciates, you’re less likely to be “upside down” on the loan—owing more than the car is worth. However, the trade-off is that monthly repayments are higher, which may put a strain on your cash flow.

How to Choose the Right Loan Term

When deciding between a longer or shorter loan term, it’s important to assess your personal financial situation. If you can afford the higher monthly repayments, a shorter loan term is usually the more cost-effective option. It helps reduce the total interest paid and allows you to build equity in the vehicle more quickly. However, if you’re on a tight budget and need to keep your monthly payments low, a longer loan term may be a better fit, even though it will ultimately cost you more in interest.

Why Stretching Your Loan Tenure Is Bad Advice

You may have heard someone say this, “You should always take the maximum loan term because your instalment for 9 years is going to be lower than your 5-year instalment, you will have more cash flow.”

Some people may suggest that stretching your car loan to the longest possible tenure—such as nine years—is a good financial move because the monthly instalment is lower compared to a shorter loan tenure. They argue that this provides more cash flow flexibility, and if you have extra money, you can always pay more or even settle the loan early. While this may sound logical on the surface, it’s actually bad financial advice.

Yes, increasing your loan tenure will result in lower monthly instalments, but good financial planning isn’t just about minimizing your short-term expenses. A crucial factor to consider is the total interest paid over the life of the loan. The longer your loan tenure, the more interest you will pay, making the overall cost of your car significantly higher.

Another misconception is that making extra payments will help you save on interest or shorten your loan term. However, the way car loans in Malaysia are structured—especially with the Rule of 78—means that early payments do not proportionally reduce your interest burden. Under this system, the bank front-loads the interest, meaning you pay a larger portion of interest in the earlier years of your loan. If you decide to settle your loan early, say after two years on a five-year tenure, your savings from the remaining interest will be far lower than expected because you’ve already paid most of the interest upfront.

Yes, early settlement does save you some money, but the savings are not as significant as many assume. Banks are not charities—they structure loans to maximize their profits. Your goal in financial planning should be to minimize how much banks earn from you and maximize your own savings.

At the end of the day, the best approach is to avoid unnecessarily long loan tenures and instead choose a term that balances affordability with minimizing interest costs. Being mindful of the total cost of borrowing—not just the monthly instalment—is key to making a smart financial decision.

Positive Carry – The Best Way to Look at a Car Loan

The ONLY time you should maximise the tenure of your car loan is when you have the loan amount in cash already. Ie. you’re able to afford to buy the car 100% cash.

Car loans in Malaysia are relatively low, effective interest rates could be 5+% for new cars. And if you put that cash into FDs (3-4% return) or even into REITs (5-6% return), you’ll be earning a positive return.

For example, let’s say your car loan’s effective interest rate is 5% and you invested your money in REITs for a 5.5% return. This gives you a positive carry of 0.5%. Effectively, you’re getting a free loan AND a return of 0.5% for driving the car. In all other cases, you do not want to increase and maximise the tenure of your loan.

Now, I do understand that not everyone would have the ability and capacity to have that much cash lying around. I’m just saying that positive carry is the best possible way of taking a car loan.

Side Note: What is Effective Interest Rate

Car Loan Effective Interest Rate (EIR)

Car loans in Malaysia typically use a flat interest rate system, which may seem low at first glance (e.g., 2.5% to 3.5% per annum). However, the actual cost of borrowing is much higher due to how interest is calculated. The Effective Interest Rate (EIR) is the true cost of borrowing, taking into account the fact that loan repayments reduce the principal over time.

For example, a flat rate of 3% per annum on a 7-year car loan actually results in an EIR of around 5.5% – 6.5%, depending on the tenure. This means that while the flat rate looks low, the real cost of the loan is much higher when considering how interest is spread out.

Additionally, Malaysian car loans often follow the Rule of 78, meaning that most of the interest is front-loaded in the early years. This makes early settlement less beneficial than expected because much of the interest has already been paid upfront.

Conclusion

In conclusion, taking out a car loan in Malaysia is a significant financial decision that requires careful consideration. It’s important to strike a balance between affordable monthly repayments and minimizing the total interest paid over the life of the loan. By assessing your financial situation, comparing loan offers, and understanding the full cost of the loan, you can make a smart decision that benefits you in the long run.

You’ll want to take a look at articles on car loans from both Carro and Carsome. They lay out additional tips that I decided not to cover here as we’re looking at the personal finance side of it.

Tiger Brokers Review: Platform, Fees & Features

By Leigh
Updated February 18, 2025 Filed Under: Investment, Dividends, FI/RE, Financial Independence, Investment Portfolio, Sponsored, US Stocks 2

As of 2025, I am now using only MooMoo Malaysia and Rakuten Trade for my stock trading needs.

I have had an account with Tiger Brokers since 2020 but have yet to utilise it apart from trying out their interface and depositing a small amount in there.

If you are looking to trade international stocks and have yet to open an account with Tiger Brokers, you will be glad to know that there are huge perks to opening an account now.

Tiger Brokers Account Opening Referral and Promotion

1 unit of Grab share
Unlimited commission-free trades for HK, SG, and China A-Shares for 365 days.
Unlimited commission-free trades for US stocks for 180 days.

Account Funding Reward (Initial Deposit of SGD1,000 or more + execute 5 BUY trades)

SGD88 cash

The full T&C can be viewed hERE. The promotion lasts till 12 October 2022.

Why Tiger Brokers?

Fees

First off, as always, fees. Tiger Brokers’ zero-commission trading is huge and beats many other international brokers.

Now, zero commissions do not mean that trading of US shares is totally free because there is, of course, a platform fee of USD0.005 per share or a minimum of USD1 per trade. It is a fee, but it is cheaper in comparison to many other brokers. So, keep that in mind.

As I’ve mentioned many times, fees are important because they eat their way into your investment and you’ll find yourself paying a lot more than 1% at the end of day, say, 20 years.

You may think a 0.1% or a 1% fee is of no significance but with the compounding nature of long-term investing, we, as average investors, are looking at hundreds of thousands to millions of dollars in our investments at the end of the day.

Regulation and Protection

Tiger Brokers (Singapore) Pte Ltd is regulated by the Monetary Authority of Singapore (MAS).

Elsewhere, they’re also regulated by the SEC in the US, ASIC in Australia and HKSFC in Hong Kong. They’re compliant in all the countries they operate in so they’re safe. Apart from that, customer funds are held in a segregated trust account with DBS Bank Ltd. Custodian of investors’ shares is with the Central Depository (CDP) as well as overseas brokers.

Another important safety factor is that Tiger Brokers is listed on NASDAQ and under the ticker TIGR. This, in my book, adds credibility to Tiger Brokers as a brokerage platform. Their books and reports are easily accessible should you feel the need to refer to them as well.

Rewards

There’s a built-in rewards system for users of Tiger Brokers – Tiger Coins. By completing certain tasks (which aren’t all that hard) you’ll be credited with Tiger Coins which can be used to redeem rewards such as commission-free trades.

Account Opening and Registration

So, you’ve decided to open an account. Two types of accounts are available at Tiger Brokers – Margin and Cash Upfront. I’ll always recommend a cash upfront account to start with. If you’ve been trading and investing for a long time and are confident in your abilities, you can always move up and open a margin account.

Link to register hERE.

Funding Your Tiger Brokers Account

The are many ways to move your funds to Tiger brokers but the best I’ve found and that’ll save you fees in the future is this: You’ll have to open a bank account in Singapore. Basically, you transfer your monies to an SG bank account (you can use services like Transferwise etc to save on fees) and then from there into your Tiger Broker’s account.

Another transfer method to note is to use Wise which is integrated directly into the Tiger Trade APP, as part of a collaboration with Tiger Brokers. This method is fast and easy once it is set up. More info can be found here: https://www.tigerbrokers.com.sg/help/detail/87168024.

What I’ll be Using

As of 2025, I am now using only MooMoo Malaysia and Rakuten Trade for my stock trading needs.

As always, my Facebook, Instagram. Follow, keep up to date.

Because of Tiger Broker’s low fee structure, I’ll be looking to add a ton of long-term international stocks here. Especially US shares.

Love the rewards I get from trading as well in the form of Tiger Coins.

End.

Account opening rewards are looking good and you get rewards as you trade and invest.

If you’ve yet to sign up and want to, use the registration link hERE. Check out the full details of the promotion hERE.

Disclaimer

This post is sponsored by Tiger Brokers.

T&Cs apply. Please visit our website for other applicable fees: https://www.tigerbrokers.com.sg/commissions/fees.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Carsome Review – My Experience Buying and Selling My Car with Carsome

By Leigh
Updated February 17, 2025 Filed Under: FI/RE, Financial Independence, Financial/Life Hacks, Investment, Other, Travel, food and the finer things in life 9

This is my Carsome Review and my full experience of buying and subsequently selling my car with Carsome. I love cars and I’ve never bought a brand-new vehicle in my life. The car I just sold off was a 21-year-old BMW e46. I got the car back in 2013 and have been using it as my daily drive.

Carsome Review - Buying and selling BMW E46

The reason I had to let go of the car was the extremely high cost of maintenance. I had been consistently spending thousands of ringgit a year for part changes and enough was enough. This is why you shouldn’t ever keep an old continental car as your daily drive.

The options available to me were to sell the BMW and get another newer car or sell the BMW and use Grab. I decided on getting another vehicle as I actually like driving and after doing some simple calculations, owning my own car made more sense.

Carsome Review – Selling my Car to Carsome

I had been getting ads on Instagram from both Carsome and myTukar (now Carro) regularly by this time. Went car-browsing on both sites and spent hours sifting through them.

Some stuff to take note of, myTukar doesn’t accept cars over 20 years old. Carsome does.

Also, both of them gave me much higher prices compared to the local dealers you can find on Mudah. I predict a swift and timely death to 2nd hand car dealers all over Malaysia soon. They just can’t compete anymore.

So, took the plunge, sold my car to Carsome and got the best possible price (it was still a really shit price) and went browsing for my next car at Carsome.

Carsome Review – Buying a Used Car from Carsome.

For years now, I already knew the brand and car model I wanted (it is a hatchback). And that’s about as much as I’d like to disclose about my vehicle for now.

All I had to do was look out for one that had low mileage and was in good condition. I had already done my research on the car with all the known issues and what to look out for. There were only two real choices for me. The hatchback or the very compact and fuel-efficient Perodua Axia. Also a low mileage and good condition one of course.

I was in no rush to sell the car so I think I spent about a month or two just sifting through and browsing cars on Carsome and myTukar. I had about 6 tabs open on my browser every day on cars. The car I wanted came on sale in January on Carsome. It was the model I wanted and it had done about 50k in mileage. The same models were at 80-100k mileage and priced the same on sites like Mudah.

Made the call, went through the process and paid a refundable deposit of RM1,000 for the car. I had the salesperson bring the car over to KL all the way from Johor for a viewing.

Steps to Buying a Secondhand Car

Now I’m sure there are plenty of resources on buying secondhand cars online you can go through. Heck, some of you here may even be veterans and are better at it than I am. But here is what I did.

1. Inspection

One of the reasons I chose Carsome was for its inspection and checking system. There is a detailed report on the problems found on each car listed on their website.

Despite this, the very first thing I did was bring the car to a friend’s workshop and garage for a full inspection. Did an Onboard diagnostic (OBD) to make sure the car wasn’t tampered with. Paid RM150 for the inspection.

We checked for rust at the bottom and made sure no rust was found on the car’s mainframe. We noticed significant rust on the car’s front right absorber and mounting.

The salesperson from Carsome was a really good one and a friend of a friend. He agreed to have the car sent back to their workshop and to change the parts if there were issues found.

2. Test Driving

After waiting for about a week for the car parts to be fitted, I brought along a very kind friend who was a mechanic for the first viewing and test drive. Let him take the wheel and right off the bat, we heard weird sounds coming from the front whenever the car went over a speed bump.

And guess what? It was back to the workshop again! In total, I think I went for 3 test drives because of the sound from the front. Carsome changed: Absorbers, Mounting, Dust Covers, Bearing and even did the alignment for the wheels. At the end of 4 test drives over the span of a month, there was still some sound coming from the front over speed bumps but it was significantly less, I was already feeling really embarrassed for the back and forth and decided to just go ahead with the purchase. I decided that I would refit the parts on my own time later.

I think only companies like Carsome and myTukar will do this for you. If you’re purchasing from a secondhand car dealer, forget it.

3. Loan Application and Payment

I got the salesperson to submit my hire purchase application to a few different banks and settled on CIMB as they offered me the lowest rate at 3.1% for a 7-year loan. The loan came with a few conditions.

Open a savings account with CIMB;
Take the first year’s motor insurance with them; and
Snatch Medz for one year.

Snatch Medz is a sort of life insurance where if I were to die or suffer a total disability, the loan would be paid off. This one cost me RM430 for the first year.

Used my credit card for the deposit, but had a problem increasing my credit limit with Maybank so I had to delay the purchase for another few days. Managed to get it settled eventually so a tip here is to get ahold of your bank earlier if you’ve already decided on the car. Get your points from the deposit! It is worth it.

Also, you may be interested to read about how long of a loan period you should go for, and what is a good way to look at car loans through a personal finance lens here.

Additional Stuff I Asked For

If you’re going to get a vehicle from Carsome or Carro (formerly myTukar), don’t forget to ask for additional freebies!

You can check out Carsome hERE.

Change all faulty parts!

Change in parts that were broken. As mentioned earlier, I got a lot of parts replaced. If you’re getting your car from a dealer like Carsome, you should do your inspection and ask for a change in faulty parts. Ask for everything!

Car plate number interchange

I got a discount for the exchange of my car plate number. I bought my own number through JPJ’s auction and had Carsome replace it at a discount. I think it was around RM200 cheaper to do it through their agent.

Promotions

Always remember to check what promos the dealer is having. It so happened that Carsome was having a TnG wallet promo and I asked for that.

They were also giving an RM1K discount if you sold your car to them and subsequently bought from them afterwards. I qualified for that and got RM1K off as well.

Petrol vouchers

And after getting everything sorted, I got my guy at Carsome to get me petrol vouchers! I got about RM300 worth of it.

End.

So I’ll most likely be using this car for at least another 10 years. Will be keeping it in good condition. I have still yet to buy a new car for myself. This article has taken a pretty sharp turn away from investing, but hey, buying a car costs money and making a good decision here is vital to investing too.

If you’re looking to sell or buy a car, head over to Carsome’s website. I’ve had a good experience with them. I can even get my salesperson to give you a call so drop me an email or a DM on Instagram.

Aaaaand, if you’ve been following me on Instagram, you would’ve noticed me posting pics of another vehicle occasionally. I invested in an old classic car and I’ll be posting much more about it soon!

Dividend Magic’s Yearly Review

By Leigh
Updated February 9, 2022 Filed Under: Financial Independence, FI/RE, Investment Portfolio 0

I’ll be using this anchor page to keep track of my overall investment portfolio. Updated yearly so I’ll be able to track and show a yearly gain/loss.

Moving forward, I’ll aim to keep my recording simple and clear-cut. So I’ll be able to track my yearly gain more easily. No more IRR, just simple yearly gain, including fresh capital and dividends reinvested.

The Year 2021

It has been a turbulent year. In terms of my portfolio, it has more or less stayed the same, which I am grateful for. The first half of 2021 saw prices plunge and then go up again in the latter part of the year.

My dividends have also increased ever so slightly to RM15,595.07 per annum in 2021. This is despite me having a smaller portfolio compared to 2020. Which is a win. Still, a long way to go to RM36K a year in dividends.

I’ve also managed to maintain a respectable savings rate in 2021 despite a drop in my income. Got a sizeable war chest ready to be deployed and I’m keeping an eye on a few local stocks as well as US ones. It has been a while where the Freedom Fund has been stagnant around the RM500K mark.

On the other hand, my crypto portfolio almost doubled in value from a year ago, this is after factoring in the huge year-end dip. I’ve also been consistent in putting money into my StashAway account. Returns have dropped compared to last year, but in the long run, I’m confident. My US portfolio has seen a drop come year-end, but we’re still positive.

My Investments

The Freedom Fund

Market value: RM501,858.09
Cash: RM100K
Dividends: RM15,595.07
Dividend yield: 3.33%

The Freedom Fund (US)

View this post on Instagram

A post shared by Dividend Magic (@dividendmagic)

Crypto Portfolio

Gross investment: RM10,273
Market value: RM67,004
Capital gain: +552.23%

StashAway

Dividend Magic – Risk (36% Risk Index)
Gross Investment – RM48,000.01
Current Value – RM48,575.13
Time-weighted return – 10.19%
Money-weighted return – 2.79%

Dividend Magic US – Risk (30% Risk Index)
Gross Investment – RM10,000.00
Current Value – RM11,433.23
Time-weighted return – 14.33%
Money-weighted return – 14.33%

StashAway Simple
Gross Investment – RM4,500.00
Current Value – RM4,769.28

TOTAL
Gross Investment – RM62,500
Current Value – RM64,777.64
Gain/Loss: +3.64%

My Overall Investment Portfolio

Freedom Fund: RM601,858.09
Crypto: RM67,004
StashAway: RM64,777.64
Total: RM733,639.73

Goals for 2022

I will focus on getting my dividends up. I’ll be adding more positions throughout the year. I’m looking at you Scientex!

Also, will be looking to do a monthly DCA into Vanguard’s S&P 500 ETF. As of now, I’ll be purchasing it through Rakuten Trade until a better brokerage becomes available.

The Year 2020

What a year it has been. My portfolio tanked in March when Covid hit. It even went into the red, a first for me. I missed the glove boat.

Bet on the recovery and my portfolio managed to sail through 2020 with an almost 10% gain y-o-y. As the portfolio increases in value and diversification, long gone are the days of 15-20% capital gains. I’ll be aiming to rebalance and refocus my portfolio next year. Cutting underperforming stocks and adding more winners.

I’ll also be focusing on my US portfolio moving forward. I’ve also made a decision to keep my US portfolio hidden to maintain some form of privacy. Don’t worry you’ll still be able to view it in percentage (%) form.

My Investments

The Freedom Fund

Market value: RM545,778.21
Cash: RM46,350.83
Dividends: RM15,415.64
Dividend yield: 3.33%

The Freedom Fund (US)

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A post shared by Dividend Magic (@dividendmagic)

Crypto Portfolio

Gross Investment: RM13,808
Market Value: RM34,424
Capital Gain/Loss: +149.30%

StashAway

Dividend Magic – Risk (36% Risk Index)
Gross Investment – RM14,001.00
Current Value – RM15,378.03
Time-weighted return – 8.01%

Dividend Magic US – Risk (30% Risk Index)
Gross Investment – RM10,000.00
Current Value – RM10,603.19
Time-weighted return – 6.03%

StashAway Simple
Gross Investment – RM12,500.00
Current Value – RM12,559.17

TOTAL
Gross Investment – RM36,501.00
Current Value – RM38,540.39
Gain/Loss: +5.6%

My Overall Investment Portfolio

Freedom Fund: RM607,544.68
Crypto: RM34,424.00
StashAway: RM38,540.39
Total: RM679,125.07

Goals for 2021

The Freedom Fund and StashAway performed solidly for me in 2020. Obviously, I’ll want to see my dividends go up in 2021. It dropped a little this year with a few companies in my portfolio electing to withhold dividends.

I hope to see dividends surpass RM20K per annum barring any unforeseen circumstances.

Also, I want to eventually have my total investments (excluding my US portfolio) reach RM750K in 2021 and RM1 million by 2025. Setting the bar a little low there I know but I’ve learnt that the key to happiness is low expectations. And with RM1 million in investments, I should be able to hit my dividend target of RM36,000 per annum.

On the other hand, I will also be pumping money into my US portfolio (which as mentioned above will be tracked only in %).

Now, to the best performing asset for me in 2020 – Bitcoin and Ethereum. Almost at a 150% return for me at the time of writing and it is increasing. I set out to keep crypto to a maximum of 10% of my portfolio. I’ll continue to hold onto them coins for now.

dividendmagic.com.my

I consider every one of you reading as a stakeholder of Dividend Magic. So an update of the website at the end of 2020 would be apt.

As mentioned on my About page, at the rate the blog is growing, we will definitely be hitting a million (and more) views next year. A big thank you to everyone that has been frequenting the blog and interacting with me on social media. I appreciate every follow, like, comment, and share you’ve been so generous with. I love the community we’ve built and the friends I’ve made along the way. We’re a small but tight-knit bunch in Malaysia.

If you haven’t already, follow me on Facebook, Instagram, and now to keep up to date.

To those that have been wondering if I’m making money via ads on the blog, the answer is finally a yes. But it isn’t much, unfortunately.

I’ve opted for the minimum amount of ads as well as the best-optimized placement for readers.

Right now, ad revenue itself is able to cover the running costs of the blog which I’m super grateful for. I don’t see this growing significantly, maybe I’m doing something wrong with the ads. With running expenses covered, Dividend Magic will be here to stay.

End.

That is all there is to update. 2020 was scary, thankfully, my investments are doing all right now. As always, it is important to stay invested and to attack when the opportunity presents itself. There will of course be some missed opportunities and lessons to be learned along the way. All my mistakes, all my wins, you’ll be able to see them here on the blog.

I’ll be updating my portfolios on a monthly basis as usual come 2021. Have a happy new year and I’ll see everyone in 2021.

Best Priority and Premier Banking in Malaysia

By Leigh
Updated April 28, 2025 Filed Under: Fixed Deposits, Savings Accounts etc, Other Investments 12

Best Premier Banking in Malaysia 2025 – Who I’m Using Now

2025 Update

Fast forward to April 2025, I’ve again moved from HSBC Premier to CIMB Preferred. Reason – HSBC are closing all corporate accounts.

Also, after extensive research, I realised that the best Premier Banking for me right now is CIMB. And the main reason is the credit card they offer – the CIMB Preferred Visa Infinite. The T&C for lounge access is one of the best in Malaysia.

Early 2025 update

It is 2025 and I think this Best Premier Banking in Malaysia article deserves an update. I’ve left Maybank Premier and joined HSBC Premier. The requirement was RM200,000 when I first joined. As of 2025, it has increased to RM300,000 assets under management (AUM).

The main reason I made the switch was because they offered a better and more user-friendly corporate account. Maybank’s was really outdated.

Got a pretty good Relationship Manager and I was able to place my RM200K into bonds with HSBC. They’ve got a pretty diverse range of forex accounts as well. I used their USD account and subsequently was able to place them into US Fixed Deposits, capitalising on their 4-5% interest rates.

A cautionary tale here regarding bonds as I was encouraged to park my money into YNH Property Berhad’s bonds. I was extremely lucky I did not as they’ve since been embroiled in controversy after controversy. Please do your research and make sure the company is financially sound.

The usual perks were available, dedicated parking, a small lounge with coffee/tea, newspapers etc. Nothing to shout about.

Would love to hear about your experiences now that we’re in 2025.

Private Banking vs Priority / Premier Banking in Malaysia

The article is a work in progress and I’ll be updating it as and when new information becomes available. Thank you to everyone who messaged and emailed me with your experiences.

First, let me clarify that premier banking and priority banking aren’t the same. They are miles apart. You need to have RM250K and above to be eligible for premier banking. For private banking, it is at least RM3 million.

In this article, we will be talking about priority/premier banking primarily because I am only eligible for that and have experience with it. Hopefully, in the not-too-distant future, we can talk about private banking. I’ve also spoken to some of my friends and readers to collate their experiences here for you to decide.

If you’re considering upgrading from being a standard customer to joining the higher ranks in premier banking, allow me to burst your bubble – premier banking isn’t all it’s cracked up to be.

Premier Banking in Malaysia Ranked – The Good and the Bad

The reason I’m writing this article is because I myself am looking to switch away from my current bank – Maybank to one that offers better services. And since I’ll be doing my research on premier banking in Malaysia anyway, I might as well jot everything down here and share this with everyone.

The list below is based on my 2-year long experience with Maybank’s Premier Banking as well as the experiences of my friends and colleagues with other banks as well. The general good and bad are listed here and we will go into each bank’s good and bad later in the article.

As of 2025, CIMB is my favourite bank as a preferred/premier/priority customer. I’ve ranked them in order below.

No long queues

Let’s start with the good first. In the day-to-day running of my business, I require weekly (sometimes daily) cash deposits over the counter or through ATMs.

I get to skip ahead of the queue to conduct my usual banking. Oh, and you also get to park in a designated spot for premier banking customers. But this isn’t great because, at my branch, the parking is always occupied.

Better, faster and more secure service

With a premier banking card, and at branches where they have premier banking in Malaysia, I’m allowed to head to a specially designated floor to do my banking, deposits, and whatnot there. At some branches, you get coffee and canned drinks while you wait. You get WiFi if you’re lucky.

I’ve also seen some branches where they provide newspapers and a tv that reports on financial news. Some even have PCs for you to do your online banking or stock trading if you choose to.

If, like me, you find yourself depositing wads of cash, you get added security as there will be a bank teller assisting you with the counting and subsequent depositing of cash.

Better mortgage and loan rates

You’re able to procure slightly better rates when applying for mortgages and hire purchases. As a premier banking customer, you’ll also be afforded a less stringent loan approval process.

A personal relationship manager

I’ve been a premier banking customer with Maybank for about a year now. As a premier banking customer, you’re assigned a personal banker, also known as a relationship manager (RM) that acts as a liaison and caters to your banking needs. Instead of having to head over to the branch directly, you’re able to make certain transactions over the phone.

Your experience as a premier banking customer is highly dependent on the RM that’s assigned to you. Unfortunately for me, I’ve been assigned one that is very pushy and sales-oriented and sees fit to constantly bombard me with product offers every other week. And being the nice person that I am, I have to come up with excuses to politely reject his proposals.

The products offered to me have always been unit trusts, packaged products that consist of unit trusts and more unit trusts. Hence I see this as a double-edged sword. You just have to be firm and let your relationship manager know what you’re interested in and what you’re not.

You all know how much I hate unit trusts and their fees.

Idle Cash

Now this is the worst part for me. All banks in Malaysia will require you to either have cash/investments or loans with them to be eligible for premier-ship.

Personally, I place my cash in fixed deposits and treat this as my emergency fund. I practice FD Laddering. Yes, you often are able to get slightly better FD rates but still, I don’t like the idea of RM200K or more sitting in the bank generating measly returns.

1. CIMB Bank – CIMB Preferred

Service: Top-notch service.
Parking: Designated parking spot for CIMB Prefered clients at most branches
Requirement: RM250K AUM
Premier status extended to immediate family members: Yes. You can nominate up to 3 immediate family members, and all you need is a joint deposit account with them. Terms here.
Penalty if you drop below AUM: No, confirmed 2025 with RM
Special Credit Card: CIMB Preferred Visa Infinite – This is one of the holy grail invite-only cards to get access to premium airport lounges. Main reason that I moved to CIMB in 2025.
I write about the best credit card options in Malaysia here.
RM: Professional
Products and services :
1. FD (Slightly higher rates)

In 2025, I’ve moved to CIMB. And they take no.1 spot. Their CIMB Preferred Visa Infinite for Preferred customers is the main reason I park my money here. Lounge access is one of the best you can get. Supplementary cardholders share your access, and you get access to premium airport lounges. Zero annual fees.

If you’d like to join, drop me an email ([email protected]). We can split the referral fee!

2. Maybank – MaybankPremier

Best Premier Banking in Malaysia - Maybank Premier

Service: Good (Sitting area)
Parking: Designated spot, no sticker was provided to me, had to show my debit card to prove I’m a customer.
Requirement: ~~RM200K~~ RM250K AUM
Penalty if you drop below AUM: Unsure
Premium Credit Card: Didn’t opt for it.
RM: Pushy
Products and services :
1. CASA
2. FD (Mediocre rates)

I’m fortunate enough to be able to be eligible for premier banking. I park the minimum amount in fixed deposits as emergency funds and invest the rest. Maybank takes number 2 spot mainly due to being Malaysia’s largest bank and they have the most branches around.

The best thing about Maybank’s premier banking for me is actually being able to conduct my banking transactions quickly. What usually takes me 30 mins to an hour can be done in probably 10-15 mins.

Perhaps I got a pretty pushy RM and also it is because I’m well-versed in finance and investing that the products offered were of very little interest to me. The only time I put money with my RM was when he offered the bundled ASM product to me where I managed to get some of the coveted fixed-priced units. I wrote about it hERE.

All in all, premier ain’t nothing much to shout about so the next time you see someone walking up the stairs or to the premier banking section, you know that it really isn’t that big of a deal.

Coincidentally, Maybank also happens to offer some of the best credit cards in Malaysia in terms of cashback – the Maybank 2 Cards. You can read more about them here.

3. UOB Bank – UOB Privilege Banking

Best Premier Banking in Malaysia - UOB Privilege Banking

Service: Top-notch service.
Parking: Designated spot, able to park with car sticker, no questions asked. Usable in all UOB branches. Limousine service available to pick up from home to the branch and from the branch to any other place in KL. (Contact RM to apply.)
Requirement: RM500K AUM
Premier status extended to immediate family members: No.
Penalty if you drop below AUM: Unsure
Premium Credit Card: UOB Privilege Banking Visa Infinite
RM: Professional
Products and services :
1. CASA (InvestPro account which gives 1.7% interest p.a. for deposits over RM50K)
2. FD (Slightly higher rates)
3. Dual Currency Investment

Special products: Yet to be discovered

This one was also provided by Mr. T, a fellow reader who wishes to remain anonymous.

If you can afford the RM500K AUM requirement, UOB will be a great place to park your money. Service is top notch and you get access to their array of very useful credit cards.

4. Hong Leong – Hong Leong Priority

Hong Leong Priority Banking Hong Leong Visa Infinite P

Service: Top-notch service.
Parking: Designated parking spot for Hong Leong Priority Banking clients.
Requirement: RM300K AUM
Premier status extended to immediate family members: No
Penalty if you drop below AUM: Unsure
Premium Credit Card: Hong Leong Visa Infinite P – This is a free-for-life card that gives you Premium Plaza Lounge access 4X a year. A good card and a reason to sign up. But as of 2025, CIMB’s card is better.
I write about the best credit card options in Malaysia here.
RM: Professional
Products and services :
1. FD (Slightly higher rates)

Number 4 because Hong Leong gives a pretty good credit card for their priority banking customers. But still.. for RM300K AUM, I’d rather go for CIMB.

5. Alliance Bank – Alliance Privilege

Best Premier Banking in Malaysia - Alliance Privilege

Service: Good
Parking: Designated spot, able to park no questions asked.
Requirement: RM300K AUM
Premier status extended to immediate family members: Yes, up to 3 family members.
Penalty if you drop below AUM: Unsure
Premium Credit Card: Alliance Privilege Visa Signature
Products and services:
1. CASA (2.25% for deposits more than 350k)
2. FD Slightly higher compared to standard board rates.
3. Dual Currency Investment
4. Foreign currency retail bonds

This one was provided by one of Alliance’s own RM.

Alliance bank provides a pretty decent credit card to earn Enrich Miles, so if you’re already a privilege banking member with them, ask for the Alliance Bank Visa Infinite. You can read more about the best credit cards here.

6. OCBC Bank – OCBC Premier Banking

Best Premier Banking in Malaysia - OCBC Premier Banking

Service: Excellent
Parking: Designated spot
Requirement: RM300K AUM
Premier status extended to immediate family members: No
Penalty if you drop below AUM: Unsure
Premium Credit Card: OCBC Premier Voyage Mastercard
RM: Pushy, salesman
Products and services :
1. CASA
2. FD (Mediocre rates)
3. Bundled UT with FD (FD slightly higher rates but high UT fees)
4. 24hr loan approval status!

7. HSBC Bank – HSBC Premier

Best Premier Banking in Malaysia - HSBC Premier Banking

Service: Good (Free WIFI, sitting area, financial channel, coffee, tea. Self-service coke, sprite, packet drink.)
Parking: Designated spot, able to park with car sticker, no questions asked. Usable in all HSBC branches, 2-hour limit.
Requirement: ~~RM200K~~ RM300K AUM
Premier status extended to immediate family members: Premier Family extensionto one legal spouse and all children until their 30^th birthday
Penalty if you drop below AUM: RM150 per month
Premium Credit Card: HSBC Premier Master Card (Free access to airport lounge)
RM: Professional
Products and services :
1. CASA
2. FD (mediocre rates)
3. Dual Currency Investment
4. Unit Trust (Birthday month 1% sales charges)

Special products: When you are an HSBC Premier customer, you are automatically a premier customer overseas as well. USA, UK, Singapore, Australia, Hong Kong, China without having to meet their overseas’ minimum requirements. When you transfer your funds between countries, it is a real-time transaction and does not include service charges. You can get a credit card in that country as well.
Oversea banking benefit: If you get an HSBC HK bank account. You can trade shares in the HK market (high fees). However, you can apply for HK IPO using margin. E.g. Ant Financial. You can apply for a 90% margin and pay only a 10% investment fund. This will increase your chances to get the IPO share as HK IPO is base on the size of the application to allocate the IPO. For E.g. If the allocation rate is 10% and 1 lot is 100 shares. If you apply for 100 shares, your chance is 10% to get 100 shares. If you apply for 1000 shares, your chances are 100% to get 100 shares. However, to use margin to apply, your address must be HK address.
You can get a credit card in other areas like HK. You get the credit line of HKD 200K. The bank requires no collateral.

8. Standard Chartered Bank – Standard Chartered Priority

Best Premier Banking in Malaysia - Standard Chartered Priority

Service: Good (Free WIFI, sitting area, financial channel, coffee, tea, hot chocolate
Parking: Designated spot, able to park with car sticker, no questions asked. Usable in all SC branches, 2-hour limit.
Requirement: RM250K AUM
Premier status extended to immediate family members: Yes. Immediate family members can enjoy Priority status and privileges globally. Terms h e re.
Penalty if you drop below AUM: Unsure
Premium Credit Card: Standard Chartered PB Priority VISA Infinite (Free access to airport lounges. Free airport taxi. Hotel dining 50% cashback until 30 Dec 2020. Must maintain AUM of RM250K)
RM: Professional
Products and services
1. CASA (Privilege account gives the best current account interest rate – 2.6% T&Cs Apply.)
2. FD (Mediocre rates)
3. Dual Currency Investment
4. Discount on safe deposit boxes

Special products: When you are an SC Priority customer, you are automatically an SC Priority customer in other countries such as the UK, HK, and Singapore without having to meet their minimum requirements. When you transfer your funds between countries, it is a real-time transaction and with no service charges. You can get a credit card in that country as well.
Oversea banking benefit: Same as HSBC HK for IPO. Need to go over to HK to open an account. For SC Singapore, no need to go to Singapore to open an account. Can trade world stock (USA, Germany, France, Japan, Hong Kong, Switzerland, Australia). For priority banking customers, 0.2% with no minimum. No custodian charges and no charges to receive dividends.