If I am not mistaken, if open your account on 24oct2011 and you bank in rm3000 on 25oct2011 and keep that amount until 31oct.
Days your account is opened in oct=8 days
Your total DB= rm3000*7 = rm21000
Your ADB = 3000 * 7/8= rm2625, so u don't qualify for the 5%.

Back to the respectively savings rate of btw .5 to 1.5% , i THINK.

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Added on October 25, 2011, 1:19 pmBetter calculate the ADB if the amt is closed to rm3000, just to make sure.

OCBC has taken down the promo from their website.

This post has been edited by MGM: Oct 25 2011, 01:19 PM

Opened 2 acc for this promo, SuperSalary and Saadiq$aver-I.
Got the interest at 5% exactly.
Interest calculated from the date of the transaction, NOT the date the cheque is cleared.

Using the flat interest calculation method, my balances are correct right to the sen. So I dont think SCB is using daily compound interest calculation.

Only for those account holders who participate in the promo in OCT2011.

Got my bonus interests for SuperSalary and Saadiq$aver-I accounts on 3Dec, normal interest for SuperSalary and Saadiq$aver-I accounts on 30Nov and 2Dec respectively.
Come 2-Jan-2012(Mon) onwards there will be an exodus of these funds out of SCB if there are better FD rates elsewhere. People here will be busy looking for better rates.

I second you. Just too lazy to comment on it.

Which promo ends on end of feb, ocbc, uob or affin?

Can we clear out our deposit (but leave a token sum behind) from SCB on 30dec and still earned the 5% interest(for 29 days) as long as the ADB is > rm3000?

I think can but just want to reconfirm.

This post has been edited by MGM: Dec 28 2011, 10:13 PM

8 months - 3.275%
10 months - 3.315%

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Added on January 2, 2012, 11:15 amAfter enquiring at CIMB, MBB, AFFIN, UOB, HLB, OCBC in JB which is not a holiday for 2/1/2012, the best rates still come from UOB and HLB as recommended by GEN-X at :

http://ringgitwisefool.blogspot.com/2012/0...ource=BP_recent

Bank Rakyat doesn't have the indicative rates for Jan2012, but their previous months rates were rather high and being Islamic the actual rate will only be known upon maturity of FD.

And GenX, read your excellent article on Priority Banking and would like to know the conditions to keep this privilege. Do you lose the privilege once you withdrew your investment?

This post has been edited by MGM: Jan 2 2012, 11:20 AM

Went to SCB JB this afternoon regarding my SuperSalary(PJ) and SaadiqSaver(JB) accounts, SCB rates are not competitive so have to move out the funds. Got their assurance that I can withdraw out my funds and still get all my interest on 3/1 or 4/1, only thing was to leave > rm1000 in my accounts.
After that went to HLB as they offer the best rate. Enquired about their Junior Savings Account(min-rm5000) and FD account combo to enjoy the 3.85% FD rate. Effective rate works out to be closed to 3.8% for rm160k. Only thing is the two acc are Islamic too and rates are indicative only. So finally decided to go for UOB conventional FD of 3.75% (12months).

and GenX, I receive a letter from Citi saying they will withdraw my citigold if my AUM is not raised to rm200k by 31dec2011. Actually my AUM has been under for 3year and Citi has been quite lenient but finally the time has come to bid farewell to my citigold.

This post has been edited by MGM: Jan 2 2012, 08:47 PM

The CS at the branch did show me the a promo leaflet indicating the products as Islamic called GIA-i. But after going thru HLB websites I think I was mislead by the imcompetent CS.

This post has been edited by MGM: Jan 2 2012, 10:23 PM

Called a personal financial consultant of OCBC Damansara Uptown this morning but was told OCBC does not have any FD promo. Where did you get the info? If it is true I might withdraw out my 1day-old FD at UOB and transfer to OCBC.

GenX, for the HONG LEONG JUNIOR ACCOUNT which T&C should apply regarding partial withdrawal of FD?

http://www.hlb.com.my/pfs/dep/junior_fd_account_tc1.pdf
allows partial withdrawal

http://www.hlb.com.my/promo/pfs/dep_fd_CNY/tcm_en.pdf
which doesnot allow partial withdrawal

Just check the SCB accounts, interests for both SalarySaver(31/12) & SaadiqSaver(2/1/12) are already in but not the bonus.

Maybe need to bring a lawyer to OCBC to understand the T&C of the 5% FD Promo.

May be they are afraid if all of us pull out our funds on the same day the bank will collapse, HAHA!!!

Yahoo!!! Just check my SCB accounts online and all my Bonuses are in, & right to the very last SEN.

One thing I learned from this episode is that most bank staffs ( or systems ? ) are imcompetent in the knowledge of their products including the managers.
And sylille welcome to the forum and what a debut.

This post has been edited by MGM: Jan 4 2012, 08:31 AM

Old news lah. Current trend in OPR is going lower.

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Added on January 5, 2012, 8:11 amDo you need to have a premier account first and a total AUM of rm300K ?

This post has been edited by MGM: Jan 5 2012, 08:33 AM

Some banks will offer u 50% of the interest if the FD is already held for more than 3 months.

Went to see a RM @OCBC D.Utama regarding the 5%FD promo, and according to her I need to open 3 accounts, put 150k on 5%FD, and 150k FD on board rate (can't put on another promo rate like 3.8% as the T&C 4.3 stated that the 5%FD Promotion is not valid with any other promotion or other promotions as specified by OCBC Bank from time to time). When I told her others have managed to enjoy both promo rates she said at the end of Jan when they discover the discrepencies they might do some rectification. Looks like diff RM have their own interpretation of the promo.