yes this is kinda interesting but is it always 4%. the t&c said up to 5%.. so far anyone get 5% before??
what's the benefit beside this? do they have any lego or any activities around on that day itself?

After opening up 9 mths FD baru saw the banner....wonder when will this mighty saver end?

Even last year also have similar promotion...

under china communist govt any financial institution goes down will bad for the economy, govt and communist party image worldwide as well as now they can bragg about how bad capitalism, western economies, socities, financial institution

ambank i believe would b at market rate

rm5k usually for a month tenure

rm500-1k for 4months or more

Should be Rm 1000

The other day I opened the OCBC GIA 4% FD on a Saturday.
The cheque cleared 2 days after the start date.
Would it still use the original start date on the certificate ?

I opened mine on Wednesday 08/02/12 with a Banker's Cheque and through my previous experiences
with all the Banks, they always follow the date on the certificate itself so I presume it does not matter when
your cheque clears.

that will be good. Can transfer those 3 mth FD when mature to this ..

Your cert dated last Saturday?

As nomen said, usually cert start date same as the day you deposit for FD; however, previously UOB had a special promo after working hours i.e. after 4.30pm and the cert starts the next day.

Most of the promotions end this month. I wonder if we still can get 4% after March 2012.

Next week I am going to shift some of my children's fund to UOB 12 months @ 3.75% since they have existing FD account with UOB (had to obtain "special permission" from UOB manager to open children FD last time). Was considering the OCBC GIA-i 4% but too rush as they finish school close to 4pm, also I got no idea if OCBC allow children to open GIA-i "FD" account.

Oh, to update you guys, got my OCBC FD Statement and it states 5%, same as cert, for the entire amount I deposited in January
sylille, if you are still following this thread, did you get the same?

This post has been edited by Gen-X: Feb 11 2012, 09:30 AM

I checked OCBC website, it said for GIA-i account:
"Minimum age of 18 years old. Trust Accounts can be opened for minors below 18 years old."
Their brochure stated that:
"Any loss arise will be borne solely by the customer." Not sure they mean you could lose the principle amount deposited or just may not get the indicated profit rate ? http://www.ocbc.com.my/OCBCAl_Amin/busines....03.2011%29.pdf
Are they still indicating 4% or 5% as Gen-X mentioned ?

Nope... it dated 8-Feb, but cheque cleared on 10-Feb. I expect the cheque to be cleared on 8-Feb (As with SCB's case)

No, I didn't get any statement from OCBC. Found out consolidated statement sent only to customers who have current accounts. So, will wait till maturity to find out if full interest is paid on all the FD slips showing the 5% rate. On Wednesday, 8th Feb, I uplifted my one-month Islamic GIA deposit which matured on 4th Feb and was surprised to learn that OCBC does not give back-interest for the 4 days public holiday. They said back-interest is only given for conventional FD but not Islamic GIA deposit.

Also found out that Mighty Savers weekend promo rate of 4% (3 mths-conventional FD) is not restricted only to children below 18 yrs old. Adults also can enjoy the promo rate provided they open a savings account as well. Min placement is 10K and max is 50K. The FD will start on the next working day, meaning if you issued a cheque for 50K to open FD on Saturday, 4th Feb 2012, the term will only start on Wednesday, 8th Feb 2012 (minus the long weekend holidays). It does not matter when your cheque is cleared.

A strange thing about OCBC is that kids above 12 yrs old can open savings account in their own name if they have an IC. But, if you are to open a Trust Savings Account, meaning parent/legal guardian in joint names with the kid, OCBC need the child's original birth cert even if he/she has an IC. The parent/guardian can enjoy the promo 4% FD only if they open the Mighty Savers Account which is a Trust Savings Account. Unless you are really intent on opening a Trust Savings Account for your children, I think it is much more straight forward to just go with the adult version of the Mighty Savers Weekend promo which is on every first Saturday of the month.

Talking about ICs, please note that HSBC requires passports to open accounts with them even if you have a red PR IC. Also, their GIA deposit cannot be uplifted on the same day it matures. You will have to wait for the next working day. Thus, if your GIA deposit matured on Friday, 3rd Feb, you cannot touch your money until Wednesday, 8th Feb. That's about 5 days of 'lost' interest! I am sure they, like OCBC, do not give back-interest for GIA deposits as I have to 'lose' one day's interest when my RM made a mistake on my GIA deposit with them. After rectifying the mistake, she could not back-date the GIA deposit slips - the term starts on the next working day. She said she could have back-dated the placement if it had been a conventional FD. So, beware if you want to open GIA deposits.

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Added on February 11, 2012, 4:51 pmCheck out http://www.hlb.com.my/pfs/dep/depflexifd_f...flag=depflexifd

Has anyone have any experience with this type of FLexi-FD? I understand Citibank has the same but early partial withdrawal is in multiples of RM5000 instead of RM3000 in HLB's case. I think Citi's rate is also lower.

HLB's 12 mths rate of 3.25% or 3.35% for premier customer may not be very attractive but I think it allows you to quickly respond to a great promo like the SCB one (which is unlikely to happen again in the near future) or a good investment opportunity that requires you to move fast or any other emergencies that need cash fast without you having to forfeit the interest earned on the balance amount left behind in the account.

Was told that interest is paid monthly into your savings or current account and that pro-rated interest is paid for the partial amount you uplifted. You must also keep a mininum balnce of 10K in the account which continues to earn the 3.25% interest right up to maturity.

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Added on February 11, 2012, 5:14 pmSorry, wrong advice from call centre. OCBC do give statements - it just came in through the letter-box. Yup, interest on FD still 5% Fingers crossed that Gen-X and I can enjoy the full amount

This post has been edited by sylille: Feb 11 2012, 05:14 PM

My statement is as follow:

Summary of Your Fixed Deposit Account/Huraian Akuan Simpanan Tetap: XXXXXXXXXX
Deposit No, Principal Amount, Term, Rate, Maturity, Interest Due. Interest Disposition and Remakrs.

Fixed Deposit Transactions/Trasaksi Simpanan Tetap:
Deposit No, Date, Transaction Details, Debit and Credit.

I received a separate statement for my current account. Yet to receive statement for GIA-i 12 months.


Thank you for the above valuable info.

This post has been edited by Gen-X: Feb 11 2012, 06:14 PM

Thanks for the information. Did not know about this. All the while I thought it is for the kids looking from the banner.

This post has been edited by tifosi: Feb 11 2012, 06:46 PM

Maybank's FD Bonanza

Let's welcome the month of February 2012 with our exciting FD Bonanza Rates! This exciting campaign will commence from 8 February 2012 until 29 February 2012, or upon reaching the set target, whichever is earlier.

Read on further for more information on our latest campaign:

Eligibility
• Individual customers
• Resident of Malaysia and expatriate

Campaign Period
• Launch Date: 8 February 2012 until 29 February 2012

Minimum Placement
• The total minimum placement for FD Bonanza is RM25,000
• The placement will be split automatically to 80% into the FD (RM20,000) and 20% into the Kawanku Savings Account (RM5,000).
• RM5,000 in the Kawanku Savings Account will be earmarked/tagged in order to remain in the Kawanku Savings Account for the three (3) months of the FD Tenure.

Mode of Placement
• Over the counter only.

The special rates are offered only for new placement. Automatic Rollover of FD certificates from previous period will not be entitled for this special rate.

http://www.maybank2u.com.my/mbb_info/m2u/p.../PRO-Promotions

In this case, the champaign rate of 3.75% got to be prorated to 3.0% effectively.

Ya lah, what a joke since the amount inside the Savings Account (earning miserable interest) cannot be withdrawn or utilized for 90 days; might as well go for board non promo 3 months. Anyway, updated 1st post on this MBB Promo.

This post has been edited by Gen-X: Feb 12 2012, 11:11 AM

With the help of more sofisticated banking software, the banks can now putar belit the interest rate to make it artificially high like above or step up rate la or Incremental ADB la.... Etc etc..... So tiring to read the fine print....

Reading these small prints make us smarter....

No la, I don't want to be smart in fixed deposit. I just want to place the deposit only. I'm very lazy to read tnc one. I prefer the old days where advertised rate is the effective rate. No putar belit one.