Thanks. Did the calc OD more worth it. How to arrange OD facilities so it could be used when needed ? For instance OCBC needs 7 days notice which could be troublesome when needing instant cash.

that dependents on your OD rates, FD amount and interest rates, any penalty on pre-mature withdrawal, do you need to use the full amount of FD?? (Citi bank allowed partial withdrawal) etc

Found out from SCB branch once you have Stepup FD of >rm50k, you can later topup any amount (not necessary rm50K) to enjoy the same rates.

This post has been edited by MGM: May 3 2012, 12:24 PM

OCBC quote me Blr-1 i.e 5.6%. As calculated, will be more worth it using OD. Now trying to find out how to arrange OD to be instantly available when needed.

thought promo end 6 May?? Do you mean after 6 May can still top up to get 4% interest? Then when will the top up promotion ends?

The T&C http://www.standardchartered.com.my/person...eposit/tnc.html did not mention whatsoever of this 'top-up'.

Heck even their T&C have errors - look at their clause 6.3 example.

Generally i find that front-line bank staffs usually don't know much about anything. The SCB chap i spoke to at a branch did not even know the URL of their SCB malaysia website!

This post has been edited by ascend: May 3 2012, 01:03 PM

I though you already have an existing OD facility.
The fastest is FD pledge against temporary OD on your current account. But must find out the processing fee of this option first to see if it still worth it.
It is good to have an OD (pledge against your property) facility for occasional ad hoc "deployment" (I quote the term used by one of the forumer here) of some contingencies. With OD account, one can take advantage of chq clearing time too (Off topic, I wouldn't elaborate it here).
I always advise my friends when they buy their first house to split the housing loan to 2 types of loan ie term loan and OD. The banks normally allow up to 50% of the total loan amount in the form of OD facility. Just make sure you have enough spare cash to cover up the OD upon final loan disbursement to save interest ( you spare cash now work harder to give you better return in OD rather than in FD).

This post has been edited by aeiou228: May 3 2012, 03:16 PM

But just have conversation with bank personal financial officer,
the bank officer said other wise.
Each placement at least 50K.
Once placed cannot top up like 10k, 20k, next placement need at least 50k.

This post has been edited by cherroy: May 3 2012, 03:19 PM

Thats what OCBC quote me is FD pledge. No processing fees n BLR - 1. Trying to see what option is open to me as occasionally n unpredictably i need large amount of cash. OCBC needs 7 days. Trying to find out whether any FD deposits came with OD options which can be instantly mobilised.

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Added on May 3, 2012, 5:06 pm How does this work? I thought banks will disburse total sum to developer.

This post has been edited by magika: May 3 2012, 05:06 PM

What I meant was once you have put in >rm50k in a stepup FD account, you can then put in an amount <RM50K subsequently and still enjoy the stepup rates before the promo ends on 6May.

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Added on May 3, 2012, 5:19 pmLast week I put in >RM50K into SCB Stepup FD, and today I have just put in a placement of rm40k and still enjoys the stepup rates. Did it at SCB Damansara Utama.

This post has been edited by MGM: May 3 2012, 05:19 PM

Look like we have contradict info.

Where did u get the info, DamansaraUtama branch?

No, just get the info from the northern region office.

UOB Bank Fixed Deposit Rates Promotion May 2012, as usual minimum RM10K Fresh Funds.

1 Month - 3.2%

3 Months Step Up FD - 1st and 2nd Month 3.2% and 3rd Month 4.2%. Average 3.53% (Better than OCBC)

6 Month -3.5% (same as previous month's offer)

To see more FD promos, please read 1st post or click here to my Fixed Deposit Page at my blog

To see previous promos, read 2nd post of this thread.

5.6% OD versus 4% FD, on paper may not worth it....as I said dependent on your FD amount..

SCB 's latest campaign (cashback reward) gives up to rm300 (4% return - annualised) if your average daily balance is rm30000 or more for a period of 3 months in the CASA. Presumably you would still get the usual 1.6% pa for the supersalary casa.

This post has been edited by ascend: May 4 2012, 08:45 AM

its ok as using less than 10 days vs uplift my fds. Any better rates offer for OD.

E.g : FD RM150k - 3.26% Expected returns RM401.92

OD RM150k - 5.6% 7 days OD RM184.11

n thats just for 1 mth FD

This post has been edited by magika: May 4 2012, 09:53 AM

Not quite understand their cash back reward but it sounds good:

http://www.standardchartered.com.my/person...aign/index.html

Both existing CASA customers and new CASA customers are eligible. I think we don't need to put in RM30,000 right away, just add RM10,000 each month for three months something like that.

average balance growth5 of RM10,000

That is the keyword. Where do u get the 4 % return ?

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Added on May 4, 2012, 9:28 amit does not sound good when there are too many tricky words in the terms n conditions.

its 1% cashback when u use the debit card, but if looking at the example(T&C) only ADB min 10K (per mth 300k)

Ps: I think u posted on the wrong thread. Sould be Credit Cards thread.

This post has been edited by magika: May 4 2012, 09:41 AM

Plz help me on this issue :

The rates paid based on monthly or per anum ?

Lets say i put 1000 and the rates is 3%

Will i get 3%x1000 or 3%x1000/12 ?