Standard Chartered Preferred Banking is a banking facility targeted to mass affluent market. Mass affluent refer to those with monthly income of more than RM6,000 or those with investible assets between RM72,000 and RM250,000. Currently, there are roughly two million mass affluent Malaysians.
Preferred Banking offers points for customers who use the Preferred Banking credit card, and rewards them with more points if they make online transactions, or have an investment, or a deposit account. They can redeem prizes with these points. Customers also will be served by relationship managers.
Below are the benefits of Standard Chartered Preferred Banking
HSBC Bank, Malaysian largest foreign lender recently launched a new global offering called HSBC Advance. HSBC Advance offered customers an integrated account covering deposits, investments, insurance plans and credit cards. Customers would also be introduced to relationship-based banking.
It is aimed at supporting the growing pool of ambitious, financially-savvy mid-market customers aged between 25 and 45 to help them take control of their financial independence. HSBC Advance come with 2 variants namely HSBC Advance and its syariah-compliant version, HSBC Amanah Advance.
CIMB recently launched a new product called CIMB Prime plan. This product is targeting to a segment of customers who are at the stage of accumulating wealth. It is Ideal for graduates, young professionals, managers and business owners with household monthly incomes of between RM7,000 and RM8,000.
CIMB Prime Plan is offering a comprehensive package of banking products and lifestyle benefits including interest bearing saving account and credit card. With Prime Savings Account, customers can earn up to an additional interest rate of 1 per cent a year for a minimum deposit of RM200 a month. Customers also will be given standby overdraft facility and a home financing option that allows customers to re-price their housing loan every five years and enjoy preferential rates.