OCBC 10k to open the 4% FD? MY MIL just opened it in Alam Damai's branch but they say min 5k
So for those with lesser funds maybe can hurry to this branch before they realise the mistake

OCBC Alam Damai may be having opening special

After reading gsc's latest post, I was puzzled and decided to call the hotline to confirm that the FD slip I have in hand is indeed a Mighty Savers weekend promo product. The CS said it is not issued under the Mighty Savers Weekend promo which is exclusively for children below 18. Now I don't know and don't care what promo it comes under so long as I get the promised 4% on maturity.

My sincere apologies to all who have been misled by my posts on the so-called adult version of the Mighty Savers weekend promo. (Think the 'bawah' officer should take part of the blame for this fiasco. She gave the impression that it was a weekend promo especially when she had to ask her higher up permission to let me have the 4% after I had to re-issue my cheque.)

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Added on February 15, 2012, 4:26 pmMy branch in an 'old' branch. So don't think it's an 'Official Opening' offer. Anyway, like I said, I don't know and don't care anymore. I am fed-up!

This post has been edited by sylille: Feb 15 2012, 04:26 PM

Commercial Banking ? Man, that's an even bigger fish

hi...
i have savings account in cimb and i do not have a check book. if i want to open FD account in OCBC, what options do i have to transfer the 10k with minimum cost?
if the FD rate for 3 months is 3.6%, would that mean the interest i will be getting would be 10000 * 3.6% * 3/12 = RM30 for 3 months?

sorry, never open FD before...

This post has been edited by smokey: Feb 17 2012, 11:33 AM

Option 1 - By cash
Option 2 - Withdraw from your savings account and ask for Banker's Cheque, but you will be charged between RM2.15 to RM5 bank commission, check with your bank.

As for the 3 months FD @ 3.60% interest calculation:
RM10,000 x 0.036 x No of days/366
(You will have to total up the No of days in the 3 months FD period as some months have 30 days and 31 days)

Kuwait Finance House International Commodity Murabahah(ICM) Deal
- ends 29 Feb 2012
- you need to open a Savings Account (with opening balance of RM250) or Basic Savings Account (with opening balance of RM20)
- ATM Card will be issued FOC (no annual charges)
- Upfront profit will be creditted into Savings Account within 10 working days.
- Banker's cheque cost RM2.15
- Current non-promo ICM rates (from 17 May 2011 until further notice)
3.45% for 3-month
3.50% for 6-month
3.75% for 12-month

This post has been edited by ronnie: Feb 17 2012, 11:09 PM

thanks..

I opened this last month.

Seems like OCBC is promoting that FD campaign on radios too! I heard it on one Chinese radio channel.

When do you think BNM is going to lower down the OPR?

Most probably maintain or lower the OPR next meeting, the regional banks has all lowered their rates except for Malaysia... but it is coming.

That means lower FD rates

Schedule of Monetary Policy Committee Meetings for 2012

1st ---- 31 January 2012 (Tuesday)
2nd ---- 9 March 2012 (Friday)
3rd ---- 3 May 2012 (Thursday)
4th ---- 5 July 2012 (Thursday)
5th ---- 6 September 2012 (Thursday)
6th ---- 8 November 2012 (Thursday)


Source: http://www.bnm.gov.my/microsites/monetary/03_schedule.htm

This post has been edited by BoomChaCha: Feb 20 2012, 02:19 PM

hi bro. thanks for reply!
erm, maybe a rm10k-15k? 1-3years

i'm a 23 yo fresh grad, i'm still new to investment, so i pick the FD first because market shares and unit trust im not familiar to so im not dare to take the risk since those money is my hard earned money ><

This post has been edited by Audiophilic: Feb 21 2012, 02:03 PM

Bro, where have you been after posting?

RM10K and above for 1 year, please refer to first page. You have options like UOB 3.75% or OCBC GIA-i 4%, where you no need to open any savings account to enjot the promotion.

If you want to go for up to 3 years, rates are negotiable. With Affin offering 3.6% for 1 year, I would think you should be able to get the same or maybe even higher than 3.6% for tenures up to 3 years. If you go to the major commercial banks websites, most of their rates for up to 3 years cannot match or beat Affin's current 3.6% for 1 year.

Having said the above, if you are willing to consider Bank Rakyat for 24 to 35 months, then click below link

http://www.bankrakyat.com.my/web/guest/126

or just for info http://www.mbsb.com.my/deposits_fixed.html

And before you ask anything about Bank Rakyat or MBSB, please read previous posts in this thread or at least search Bank Rakyat and MBSB to read the relevant posts. FYI deposits with Bank Raykat and MBSB are not insured by PIDM (someone please correct me if I am wrong).

haha, went for a long holiday and just back to hometown
ok sifu, i think i will go for 1 year FD first, so ocbc 4% is the best choice rite?at the end of the first year of FD i will get rm400 am i correct? is this hassle free or any terms and condition? i just cancelled my ocbc saving accoung last 2 weeks >< sorry for so many noob questions ><

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Added on February 21, 2012, 11:17 pmjust read the terms and condition at the first page. lol.
what is the promotional profit rate and board rate sifu?


This post has been edited by Audiophilic: Feb 21 2012, 11:17 PM

whats the rate for cimb and maybank fixed deposit ah?

BNM will never lower unless global recession or the euro n us go downhill a lot

plus ge is comin soon no doubt they will never lower it unless bn wanna lose

it would b maintain until 3rd quarter unless euro crisis hits n they need to stimulate local economy to grow then

10-15k savings as a fresh grad is quite impressive. I'd love to hear how you earned your "hard earned money" Mind to share?