NOtes regarding HLB Junior FD & savings

1. If you go to a different branch to open (from your existing account), u need to REOPEN a new SAVINGS account for this promo because their system cannot interlink with your old existing account becoz the savings acc is the one that generate a FD account for you.

2. Make sure you go to a HLB branch and not a Previously a EONBANK branch. They can only credit the interest semi-annually instead of monthly.  Before that i was asking the staff how come since my existing one is giving me interest monthly, but he kept saying the rules changed for this promo. Lucky for me the branch manager inform me becoz she felt bad and didnt want me to complain before i successfully open the account. She says their system not updated yet....proly in a year's time!

3. BRING your kid's birthcert eventhough you already have an existing account!! They will not accept just MYKID eventhough their leftlet says so! (just incase la...i think different branches diff policy but this thing just made me waste my time going twice!)

What a neat trick. Thanks for the info.

So if I like deposit RM10K in October and I deposit again RM3K in November, then I'll get 5% interest for the total RM13K in November?

Bro, she meant EX EON branches.

What time is SCB opened tomorrow?

Ermm.....thing is..they forced me to open 2 Junior kids savings acc due to the reason different branches.
ANyone encountered else this??

Regarding the MYKID.....i did have the MYKID when i tried opening the fd at another branch...they wont let me no matter wat 
And you are saying u got no probs??  arghhhhh this HLB problem is their processes are all SCREWED UP!

This HLB made me waste so much time!
1st i went to a EONBANK turned HLB bank....open acc halfway realised the interest is paid semi-annual (they accept the fact that i only have MYKID and didnt bring birthcert, tho they insisted that i bring the cert back another day). So i cancel application and went to a HLB bank, they rejected my application straight becoz i didnt bring birthcert eventho i have MYKID (eventho i already have a junior savings acc & fd with another branch).
Then i came back another day...and they say i have to reopen another Junior Savings acc for this FD promo if i wan to open in this branch @@

awah which branch no need kid and birthcert?

BTW HOR....the reason i didnt wanna open at the initial bank is becoz they are also very screwed up!
Told them NOT TO follow my IC address coz thats my OLD address........
suddenly letters appear at my old house..... :/ lucky my family still staying there.... 
Then call customer service to change add, they say need to go branch do.
Ok fine, took leave to do it at branch and made sure they change it.
1 week later called up customer service to check...walau UNCHANGED!! and say i need to go again!!
Arghhh then i complain laa say so mafarn i oredi do it once now u telling me i have to do it again???!! CS told me NOTHING can be done...go back to branch!
arghhhhhhhhhhhhhhhhh fedup....haha

SO this time open at another branch.....sigh, still as screwy.....
maybe its just me....badluck...
if its not becoz the fd and savings is attractive....i wouldnt give a hoot to this HLB...argh!! Cant blif they took over EON>..EON WAS SUCH A GOOD BANK!! now they r screwing EON together :/

sorry....venting anger

SC T&C requires a min of "ADB" of 3K throughout Oct (31 days). It means that if you deposit 3K on 1/10/11 and maintain it for 31 days,it's OK. If you open the account on 11/10/11 then you need 4.4286K. That is 4.4286 x 21/31=3. If you open the ac on 31/10/11 and it'll be 93K. Wah lau !

Better be quick if you want to take advantage of the promo.

then have to use cheque ?

open a Saadig $aver-i today 1/10/11 with a cheque deposit, according to the guy who help us with the opening of account, the deposit is counted as of today and not when the cheque is cleared. Wonder how true is this?

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Added on October 1, 2011, 11:07 pm
That's not how it works. As long as your ADB is >=3k you will enjoy the 5% bonus. Please look at the formula in the T&C.

Example from the T&C
Ms B opens her account on 22 October 2011.
The total of day-end balances in her account in October 2011 is RM150,000.
Ms B's account has been open for 10 days in October 2011.
The ADB in that account for October 2011 = [RM150000] / 10 days = RM15000.

For November 2011, the total of day-end balances in that account is RM200,000. There are 30 days in November. The ADB in that account for November 2011 = RM200,000 / 30 days = RM6,666.66

4. Eligible Customers will enjoy a total special interest of 5% p.a. on the amounts in their Promotion Accounts which satisfy the conditions set out below, for the months of October, November and December 2011 ("Bonus Period"). This special interest consists of bonus interest ("Bonus Payments") plus interest at the effective interest rate then applicable to the Promotion Account.
  i.e. Bonus Payments rate = 5% p.a. – effective interest rate p.a. on that account

The bank isn't going to use the ADB to calculate our Interest right?

Ronnie:

So if I were to only deposit RM3K by cheque on 1st October (Sat) and the cheque clears on 4th (Tues) earliest it means I cannot get 5% interest. I work out if I got RM10K only, last day for me to open an account is on 19th October (Wed) so that the cheque can be cleared on 21st October 2011(Friday).

ADB = RM10,000 x 10days (21st to 31st Oct)/31days = RM3225.806

Is this correct?

It seem complicated their interest calculation. Say if I open account on 1 Oct and bank-in cash RM10,000 on the same day. So the interest will be $10,000 x 5% x 3/12 = $125?

If you bank in a 3K cheque on 1/10/11 and gets credited on 4/10/11 (keep constant for 1 month) your ADB is technically <3K and not eligible for "bonus" interest. This is a very important point to consider.

SC customer relations officer mentioned that there must be an incremental of ADB of 3K each month to enjoy Nov and Dec's bonuses but I can't find it in the T&C.

to be safe, better deposit more than 3k. let say ADB for month of october is rm3000. i have to topup another rm3000 on nov 1st so that i can enjoy 5%p.a for the month of nov ?