Oops, the scb step up promo is subject to a maximum rm100k fresh fund only.

Thanks for the correction. My aging eyes really hates to read those fine print. Pai seh.

This post has been edited by aeiou228: Apr 27 2012, 03:01 PM

Great info But I can't find the source of 0.5% additional interest for seniour citizen in BR site. Or is it only make known to you upon enquiry ?



This post has been edited by aeiou228: May 2 2012, 02:32 PM

Can negotiate but wouldn't guarantee you higher rates depending on banks. What i know is Affin can get slightly bit higher and OCBC no different from published rates. Limited time only promo rates sometimes better than negotiated rates. You have to visit the branch and nego. I would say for 5 years long term deposit, some banks may be hesitating to contract you unusually higher rates. But please go and nego and remember to keep us update of your findings.

Split the deposit to 5 receipts ie rm100k, rm200k, rm400k rm800 rm1.5m, incase of partial premature withdrawal you can withdrawal in any combination amount in mutilple of rm100k. And don't put all eggs into one basket to reduce risk but the downside is you can forget about negotiated rates as your deposit no longer BIG after splitting

use od is more worth it for 7 days to maturity.

This post has been edited by aeiou228: May 3 2012, 11:03 AM

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

Went to SCB Bandar Puteri Puchong today. According to the SCB staff, RM50k Step-Up program must be more than RM50K deposit each receipt. Anyway, today is the last day of the promo.

Didn't bother about the RM300 cash rebate thingy because still blur blur about it,

This post has been edited by aeiou228: May 4 2012, 07:19 PM

Haha, whenever I see INCREAMENTAL word, I lazy to read on liao. But since this topic is so actively debated and it slowly arouse my curiosity to find out what's this deal is all about. After reading the tnc, I think this promo gives good return but the downside is the return is capped at rm300 only.

Since this SCB RM300 cashback promo is so actively discussed, I also Beh tahan took time off to study the TnC.
After reading the tnc, below are my little understandings about the promo, please correct me if Im wrong.

Tracking period does not mean AB must count from 1st May to 31 July. Existing CASA customer MR A rugi a bit because he has existing April's baseline therefore AB must start from 1st May. Whereas new CASA customer Ms B untung up to 30 days in May because she is new and has zero baseline and AB can start from any day in the month of may as long as on 31th May closing date, her account shows a minimum Incremental AB of RM10,000 to satisfy the qualification criteria (for RM100 Cashback).
Of course if Ms B wish to earn the maximum RM300 cashback, she must top up more fund in the month of June and July to satisfy the RM30K Incremental AB within her tracking period of 83 days.


Yes. new CASA customer with zero baseline can wait till the very last few days of May as long as minimum qualification criteria of Incremental AB of RM10,000 (for RM100 cashback) is satisfied as at 31st May. If new CASA customer target the maximum RM300 cash rebate as her investment goal, she must deposit at least RM30,100 on or before 30th May. Rm100 is for ATM withdrawal.

My understanding of 4.10 is, Tracking Period not necessary means calculation of total day-end balances (AB) must start from 1st May or 1st June. So I think Example 2 conform to clause 4.10.

---

Added on May 6, 2012, 8:18 pmFor exiting CASA customer, assuming your April baseline is RM1000 and you want to qualify for the RM300 cashback, you must deposit at least RM34K starting from tomorrow, 7th May. The longer you drag the higher you need to deposit. eg if deposit on 30th May, you need to put in RM46K in order to achieve Incremental AB of RM30K over 62 days.

This post has been edited by aeiou228: May 6 2012, 08:31 PM

I make it simple to those who do not want to read the tnc but wish to invest and earn the rm300 pocket money.

For New SCB CASA customer only:
1. Open casa account and deposit rm30,100 latest by 30th May and keep it till 1st August.
2. Withdraw rm10 via ATM card within the tracking period. ( other options also available but ATM withdrawal is easier and straight forward.)
That is it. You have earned rm300.


For existing SCB CASA customer only:
1. Asumming your April baseline is rm1000 or lesser, deposit rm34k on 9th May and keep it till 1st August.
Note: for every single day delay in deposit, just add rm330 x no of days delay from 9th may to your deposit.
2. Withdraw rm10 via ATM card within the tracking period. ( other options also available but ATM withdrawal is easier and straight forward.)
That is it. You have earned rm300.


Disclaimer
Above is my personal understanding only. Please confirm with SCB staff when you are doing the placement.

This post has been edited by aeiou228: May 7 2012, 02:17 PM

I think kena rm8 per annum. So, net return is rm292.00

You are seriously need help indeed. Take post #1 as a reference than find out the actual rates with the bank.
Post # 1 is not a bank. It has no authority whatsoever to overrule or dispute the rates given by the respective banks

This post has been edited by aeiou228: May 10 2012, 04:32 PM

Interesting info.
MBB interbank rm2 giro to SCB and CIMB, what is the maximum daily fund transfer limit per M2U account ?



This post has been edited by aeiou228: May 16 2012, 11:06 AM

Thank you Ronnie.

oh ! I thought you did it online. Thanks for the info.

Received the same invitation letter today. The said offer is designed to encourage Sukuk account holder to retain the Sukuk fund in HLB savings account and any fresh fund topped up to the same sukuk savings account with the daily incremental balance of minimum RM1000 and capped at the maximum of RM20,000 will be entitle to additional 2.50% BONUS INTEREST.
I will be only interested to topup fresh fund IF the offer is also extended to Junior savings account where 2.9%pa + 2.5% = 5.4%.

May I know what is the reason you want to buy the FD ?? You may need to apply a banking license to do that which is quite troublesome.

This post has been edited by aeiou228: May 17 2012, 04:06 PM

Oh OK. But you don't need to "pay" the bank for FD. FD is FREE and it gives your interest. All you need to do is to "deposit" your money to the bank and the bank will give you a Fixed Deposit receipt. Please read the post above your 1st post for Ambank offers.

Not exactly, average Joe like you and me without deep pocket can only track FD promotion just for the fun of it only.

No, no good. Ambank UT never guarantee u ROI and fixed price buy back.

I would say they are master of deception instead of novices. Advertised 3.33% but actually pay 1.665% effectively. Auntie, uncle sure kena con left right centre.

Fuu..yoh !!! 12+% p.a. !!! sifu, all this while we all kena con by banks liau, non of the fd senior here ever provide such valuable info in this thread. Thank for the heads up, but we are still blur blur on how to go about it, can you share your knowledge on how to earn 12+%p.a from SCB ?