ah.. I wish I have 1 million!!

Yea, it's true. But if you have 1 mil, you wont bother about rm2465 passive income ady. Too little to mean anything to you by then.

Having RM1 million is peanuts nowadays with high inflation....

if you have RM1 million , your passive income is no longer RM2465 only.

It could well be in the range of RM5800 a month.

Even though RM 1 million is considered peanut, we must not forget alot of people dont even have 500k by the end of their life.

I think percentage of ppl here in this Finance forum already having 500K in their investment...

Very true

Correct. Higher capital may yield higher interest rate, can the rate can nego with the banker.

Even if you have 500k at the end of their life, it would turn it to property form ady, not cash and cash equivalent. I think most generation Y would have the same faith

Current OCBC Savings Combo

Am happy to add to the confusion over whether FD and SS top-up is allowed, using already opened Smart Savers (SS) account.

The answer is yes, according to the RM at Masjid Jamek Branch. She confirmed this with the product manager. The T&C will also be revised to reflect this soon.

Weird thing is when you open the SmartSavers account, they don't give you a copy of the account opening form (to show proof of account opening and ownership), even when i request for one, as this account does not have a account book and i did not request for an atm card. I wonder if this is inline with standard bank practice! other banks will provide a copy automatically.

This post has been edited by ascend: Jul 16 2012, 12:32 PM

Anybody knows if I can take out my FD from another branch? Lets say I ut FD in SS2 branch and want to take out at Uptown branch, can it be done?

Not allowed for PBB, MBB and CIMB based on my experience, not sure about other bank.

Mine is Am Bank.. ah, I need to go ask like this.

Current OCBC Savings Combo

I was under the impression that the 20% of total deposit that went into SmartSavers account is 'earmarked' for 3 months. However, the RM said it isn't and this is backed up by the T&Cs which did not have such a clause.


Anyone else had the same impression?

You are right, it is not in the T&C this time. Prior to the latest T&C, we referred to the previous Combo T&C which did state that the amount in the savings account is not to be withdrawn for 90 days. Thanks Bro for the update.

As for top up, did you clarify again if that is possible?

you can withdraw from your smart saver and yet the FD interest is still maintain. I was actually wanted to withdraw after a couple of days of opening the combo but since RM has been very helpful, I take her advice to maintain for a month to get 3% first then see how the situation develops.

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Added on July 16, 2012, 2:32 pmAm bank allowed. most banks , no

This post has been edited by gsc: Jul 16 2012, 02:32 PM

repost (#2278)
Current OCBC Savings Combo

Am happy to add to the confusion over whether FD and SS top-up is allowed, using already opened Smart Savers (SS) account.

The answer is yes, according to the RM at Masjid Jamek Branch. She confirmed this with the product manager. The T&C will also be revised to reflect this soon.

Weird thing is when you open the SmartSavers account, they don't give you a copy of the account opening form (to show proof of account opening and ownership), even when i request for one, as this account does not have a account book and i did not request for an atm card. I wonder if this is inline with standard bank practice! other banks will provide a copy automatically.

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Added on July 16, 2012, 3:25 pmI suspect the earmark clause was 'forgotten', much like the top-up clause. Thanks for your input.

This post has been edited by ascend: Jul 16 2012, 03:25 PM

Please elaborate how RM5800/month comes about? Nett interest of 5.8% for RM1mil? Which bank?

I guessed he just plug number from the air by doubling the number.....may be what he is trying to say is if you have one million cash, you won't be putting it into FD

thanks for the info bro!

Most of us will be very happy indeed to get such a return..

What is Maybank's Private Banking...
Is it Preferred/Premier Banking Service like Citigold Ac.???
Can somebody can tell me that

This post has been edited by fly126: Jul 16 2012, 10:10 PM