it is fix balance transfer divide by 12, rite?
means, transfer 6k, monthly rm500?
not the one that can pay minimum payment with no int.

correct me if i was wrong.

thanks

Then you will be owing RM6000 .... that's crazy !!!

How would you take the balance out of CC ? Cash Advance ?

Wrong, you won't get full 3% or RM90 as you need to pay back monthly and most of the 0% is paid to CC account.
Please do not mislead others. HLB Balance Transfer is not 0%, lowest is 0.4% for 3 months and annualized it, it is 4.8% which is much higher than FD.

    you too wise for your own good, hahaha

Idea is there but I would say tricky because you need to wait for HLB statement and then apply and get it approve at CIMB side, if the entire process takes a month to be paid to HLB from the day HLB deposit your money, you would have incurred interest charges of equivalent to 6%, but still would be making a little bit money.

However there is a flaw in your assumption, you forgot about the repayment to CIMB.

So effectively, the interest you earn with a mere RM2800 is peanuts considering the fact you have to monitor two balance transfer accounts.

But if you talking about RM100,000, maybe can make some pocket money but I too lazy go figure out. you want to do the math for me? 

like I said, you expert in BT    so long you don't spend the cash away or you got funds to pay the BT then ok. But you should not post this kind of method here because unlike you, many do BT because they are broke and got no discipline when coming to spending money. Give them cash, habis in 2 days.

sorry for my poor english.
1st installment = i pay 1k
2nd installment= i pay 1k+RM50 GST.
does the RM50 i pay extra go to clear the RM50 GST.... or it's used to pay additional to reduce the BT on next month, march.

some bank  is very 'cunning', you have to clear all the BT first, then only followed by retail transaction. meaning to say, unless you can clear all the BT balance (also retail transaction) after you make retail transaction, otherwise you will sure kena interest on retail transaction.

any balance transfer promotion recently?

I am holding EON Bank, HSBC and CIMB card by the way

Plan to get a smartphone, act-smart

err, plan to grab HTC Incredible S

anyone knows any HTC / SIS promotion @ PC Fair?

Gen-X,

Agree. However, CIMB CC is charging me 1%, while Stanchart Mortgage-1 (home loan) is charging me BLR-xx% = ~4.5%
Hence, the interest that can save in short term 6-12 months.

OT again:

M1 is similiar like other banks flexi-payment, where you can dump in more money on top of the installment. The additional money will offset the interest chargeable on that amount. When you want to use the money, you can withdraw out the additional money that is dumped in.

e.g. If monthly installment is 1.5k and I dump in 2k monthly for 12 months. After 12 months, I can withdraw out the 500x12 = RM6k if I need to use it urgently. If not, I can leave the money there, and my loan will reduce by 6k.

The good thing about M1 is there is no limit on deposit/withdraw and the effect is immediate. I can even bank in RM10 or way over the loan amount through S&C Cash/Cheque deposit machine. I can withdraw RM10 or higher from ATM or write a cheque. No hidden fees/charges, except RM10 monthly. Other banks have limit as minimum deposit/withdrawal, charges per transaction, takes 1-2 weeks time, need to fill up form, etc.

OOT again:

Gen-X,

It is not OD. OD is additional loan that can use. The M1 amount that can withdraw, is ONLY the additional (on top of the monthly installment) that is deposited previously.

Already faxed CC application to CIMB. Pending CIMB response 
Correct.

Based on my daily-rest interest calculation @4.5%, you will save 6.164383 per day, which works out to interest of RM184.93 per month (30 days)
Annual (daily-rest, monthly compounded) = you need to pay RM2254.58 interest (not yet calculate the monthly-compounded interest) if you do not put in the 50k

If your 50k put in FD @3%, you only get RM1,500

But you still lose out extra interest paid for the homeloan if you put in FD
1500 - 2254 = -RM754

Therefore, my principle is, unless my savings/investment can return higher than my BLR-xx% , it is better for me to put all the spare/liquid money in M1 to reduce the loan+interest.

I know, what I am saying is that the rate pretty good if need cash compared to OD. But then again, as you pointed out, you are in debt whereas I am not if I do not utilize the OD.
I like the way you see a debt as an income, hahahaha

CIMB Balance Transfer Dept
Phone no. 03-20873422
Fax No. 03-20873588

Make sure you call the phone number ot check after 20 minutes upon faxed over.

guys, i'm a bit confused.
the 12 months 0% is for inter-bank BT rite?

from maybank website.
http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/CRD-Cards

under "other info",
quote
"The Balance Transfer promotion - 0% for 12 months and Balance Transfer within Maybank Credit Cards ends 31 December 2011."

so it's for within maybank credit cards?

guys, lets say

1. i do cimb BT amounting 2K 0% for 6 months, how much is the minimum for the 1st month?

2. ive paid the minimum for the first month, how much is the minimum for the 2nd month?

I think so.
Balance transfer account is attached to credit card account, because it withdraws credit limit from our credit cards.

Speaking of this, my mother managed to maintain her DirectAccess Premier Plus Account (PPA) despite the termination of her DA supplementary card. This PPA is indeed an ideal choice for those who have difficulty maintaining certain fund balance in the account.

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Added on June 28, 2011, 1:55 amI called and asked DA CS just now. Extension of 0% BT is confirmed. Black & white statement has not been published yet however.