Suggested to my wife to open a new fd joint-account with my son and then cash out the existing fd and bank in cash to the new fd acc, but OCBC offficer said will still not enjoy the promo rate.
Looks like I have to ask her to IBG to my MBB cheque account before 12noon so that I can issue a cheque to OCBC or Bank Rakyat same day after 3pm.

Two questions:
Different banks have diff limits on the IBG amount?
Funds IBG in the morning should be available in the Beneficiary Bank latest by 9.00am on the next business day for all banks?

Thanks for the reply, but 5-May is Wesak Day

Thanks and you are right, not worth taking the risk of cheque bounced.

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Added on April 17, 2012, 11:05 pm•On 15 April 2009, after the cabinet restructuring, Bank Rakyat was absorbed under the Ministry of Finance and was later placed under the Ministry of Domestic Trade, Co-operatives and Consumerism.

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Added on April 17, 2012, 11:08 pmWhat is the latest FD offers from Kuwait Finance House?

This post has been edited by MGM: Apr 17 2012, 11:08 PM

I think this is not a promo, it is just their standard rates. Just put in today on the flexi rate, and manage only to ask for additional of 0.03%. After 3 months if return is as indicated then don't need to transfer here and there and still enjoy a good rate, even not new funds. The flexi rate is better if the trend is for interest rate to move up.

Qiradh 3-month , negotiated rate=3.68% (not printed on FD slip but on another attached sheet), subsequent deposit would get additional 0.05% as promised by the asst. manager.

Looks like I have to take my funds out from Bank Rakyat and move to SCB, losing 5 days interest.

Too rush to do that, cash out from Bank Rakyat (free banker's cheque) and JIT to put in SCB FD. All for savings of rm150.

Thanks Genx for your postings here and your blog and also other forummers in this wonderful forum esp "Finance, Business and Investment House". Has been earning some pocket money and some savings. Would have earned more if I have discovered this forum earlier instead of 2010.

Have to open a SCB CASA

I think he is getting his cash back in the FD cert.

Shy leh. I took out the money after 5 days and did not return the gifts, an umbrella, a small backpack and a cap.
In return BR has a 5-day free use of my money.

Not true.

Are you sure? Could it be an additional 0.05%, wasn't offered this the last time, was told rates are the same for seniors or non but minimum deposit is lower.

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

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

Where did u get the info, DamansaraUtama branch?

Total end-of-day balance(TEB) is not total deposit. Say if you keep RM30k for the whole of May your TEB for May is RM30000x31=RM930000, not that you must deposit RM930000 in May.

Which SCB CASA enjoy the best interest? Is it the SuperSalary acc?
Then can ask my wife, mother in law to open new account to enjoy the benefits of this promo?

After going thru SCB website looks like SuperSalary gives the best interest.

But also found this:
General
9. CASA of Eligible Customers who are entitled to CashBack Rewards or Contest Prizes will not be eligible for any other SCBMB and SCSB campaigns and promotions during the respective Tracking Periods.

With this condition, does it affects our money in the StepUp FD promo?

This post has been edited by MGM: May 5 2012, 10:36 PM

Example 2:
Ms B is an Eligible Customer who is a New CASA Customer. She opens an e$aver account on 9 May 2012 and her AB in that account in May 2012 is RM20,000, which satisfies the May minimum AB requirement.
As Ms B is a New CASA Customer, her Baseline is zero, and her Tracking Period runs from 9 May 2012 to 31 July 2012 (83 days).
Ms B pays her telephone bill from her e$aver account via Standard Chartered Online Banking, which means she qualifies for CashBack Rewards.
The total of day-end balances in her e$aver account during the Tracking Period is RM1,200,000.
Her e$aver AB during the Tracking Period = RM1,200,000/ 83 days = RM14,457.83, which means Ms B is eligible for RM100 CashBack Rewards, which will be credited to her e$aver account.

Above taken from SCB website.
Does that mean if a New SCB customer open a new SuperSalary account and bank in rm30k on 31-may, he will qualify for the rm300 cash rebate?
The AB for May would still be rm30000 even for one day right? If that is the case, the returns(rebate+int) is rm300+rm75 ie 7.5%.

This post has been edited by MGM: May 4 2012, 11:46 PM

No need to wait for cheque to clear. FD will start on the day you give them the cheque