Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.

views
     
lkcheng
post May 4 2012, 12:30 PM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(magika @ May 4 2012, 12:27 PM)
No offense, but is it possible that u print this simple statement n ask the manager to countersign.


Added on May 4, 2012, 12:28 pm

1 am a millionaire.  rclxm9.gif

Pls check your calculation, should be divide not multply. whistling.gif
*
Will ask them when I'm free. Anyway the total day-end-balance will go over million when your deposit more than $11k in. It is just used for calculating the Incremental AB. Don;t get confuse. You may refer back to SCB site.

This post has been edited by lkcheng: May 4 2012, 12:35 PM
lkcheng
post May 4 2012, 12:45 PM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(magika @ May 4 2012, 12:39 PM)
i said simple n sure boh..

assume u deposit RM36,500k on first of May = 31 days =ADB = RM1177.00 only mah rclxub.gif
*
I assume you say depositing RM36,500 not depositing RM36,500K which is RM36 millions plus plus.

Ah friend, if you deposit in RM36,500 first day of May and leave till the end of May, the total day end balances for May month is 1,131,500.00 (it's million already) and the average daily balance is RM36,500.

lkcheng
post May 5 2012, 07:34 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(MGM @ May 4 2012, 11:39 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%.
*
According to the explanation from SCB site, if opening an account on 31 May, bank in RM30,000 and on the same day you perform an online billing transaction, or use debit card or do a withdrawal from ATM, you would meet their criteria and eligible for the offer. Since you started on 31 May, your tracking period will be 62 days instead of 92 days. At the end of the tracking period, your AB for the entire 62 days tracking period will be RM30,000, thus will be rewarded RM300. This really sound good.

This is according to their term written in their site, but to confirm it, I think it is better to walk in and talk to their officer.


lkcheng
post May 5 2012, 09:59 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(MGM @ May 5 2012, 09:31 AM)
If I open a CASA account on 31-May(Thurs), get an ATM card and bank in rm30k by other bank's cheque which will take a few days to clear, then the ADB for May would not be rm30K? Then must do a Rentas in the morning of 31-may.

BTW does one need to be employed to open a SuperSalary acc? What about fulltime housewife? Can't find the requirement on their website.
*
If you use banker cheque, you need to bank in on 29th May before 2.00pm so the cheque will clear on 31 May. It is not like the usual FD where your FD period started at the time when you give the bank cheque to the bank staff. If you decide to use ATM card, you need to make a withdrawal to meet the criteria. But I still think it is better to ask SCB to confirm if you will get RM300 for putting in RM30,000 on May 31 though their example told us so.

Not so sure about this Supersalary account but I know that the eSaver account can be opened by anyone.

This post has been edited by lkcheng: May 5 2012, 10:14 AM
lkcheng
post May 5 2012, 11:49 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(MGM @ May 5 2012, 11:12 AM)
If open acc on 29-may with initial deposit of rm30 then must bank in cheque of rm31970 (which will only cleared on 31-may), your ADB for May would be rm10667 and ADB for tracking period from 29-May to 31-July(64 days) would be >rm30000, hence will qualify for rm300 cash rebate. Someone pls reconfirm.

Supersalary enjoys better interest rate than e$aver.
*
I think you are right, the tracking period will be started from the date your account created. But it is still good to put in RM31,970 for RM300 interest for 64 days. It is equal to 5.63% pa. I did some calculation, I think you need RM31,000 only if you create acc on 29th and cheque clears on 31 May.
lkcheng
post May 6 2012, 08:15 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(1282009 @ May 5 2012, 05:04 PM)
How long do we need to keep the 30k in the account, till 31 July (64 days from May 29)? Thereafter we can request the banker cheque and open a new FD in another bank?
*
From the info and example given by SCB site, if you're a new customer and open a SCB current or saving account on 29th and bank in cheque amounting RM31,000 before 2.00pm on 29th, then after that you leave the money in the account until 31 Jul, you would get RM300 cash reward. In between 29 and 31 May, you need to either do a ATM withdawal with your SCB card or charge your SCB debit card once or simply make an online bill payment. You must do one of these transactions to entitled the offer.

Anyway, please confirm this with the bank. You need to walk in. If you call them, probably their customer executive can't give you the answer.

After 31 Jul you could transfer you fund right away to another bank.


Added on May 6, 2012, 8:18 am
QUOTE(smsbusiness2u @ May 6 2012, 02:08 AM)
same question
can i get 2 time of RM300 cash rebate?
*
One person only get one time the rebate.


Added on May 6, 2012, 8:22 am
QUOTE(echoesian @ May 5 2012, 10:36 PM)
It's seem complicated.

In a lay man term, how much should I deposit let's say today until July in order to get the RM300 cash back?
*
Should be about RM31,000 if you are a new customer banking cheque. Please confirm with the bank. You question is straight to the point, if you ask the bank and get the answer, it would be nice if you could share here, so then everything can be confirmed.

This post has been edited by lkcheng: May 6 2012, 08:32 AM
lkcheng
post May 6 2012, 10:25 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(ascend @ May 6 2012, 09:33 AM)
This tracking period applies to existing account holders.

For  new accounts, the tracking period isn't CLEAR. While their T&C states the above is the tracking period (does not differentiate between new or existing account), an example in the T&C clearly shows for new accounts the tracking period starts from the day on which it is opened.

I suspect the 'example' is INCORRECT, because SCB would in effect (foolish) be giving out 6.1% pa interest.
*
They didn't mention the tracking period is just for the existing account holders. Their term says the tracking period is for the customers. New customer are customers and existing customers are also their customers.

Yup, their example for the new customers is really sound too good. Hope to find the answer for this soon.
lkcheng
post May 7 2012, 08:15 AM

On my way
****
Senior Member
589 posts

Joined: Nov 2010


QUOTE(smsbusiness2u @ May 6 2012, 12:19 PM)
Which statement in term and condition mention only 1 time for 1 person?
*
The example 1 showed a single person having two accounts with SCB and got only one rebate.

3 Pages < 1 2 3Top
Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0416sec    0.61    7 queries    GZIP Disabled
Time is now: 1st December 2025 - 12:52 PM