I was told this OCBC premier 5% FD is only applicable to 50% of the fresh funds. the other 50% will enjoy their normal 3.x rate.

its in their T&C when you pledge the FD. you should verify with your OCBC premier RM. No longer enticing but still one of the highest FD in the mkt now even after you average with their 3/9 mth promo rate.

chief, i have read the link u have provided. perhaps you can look at clause 3.1.3?

3.1.3. The minimum FD placement under this Promotion is RM10,000 and maximum FD placement is 50% of customer’s (AUM) on the date of the placement (including the FD placement amount) or RM1 million whichever lower.

the stack of docs which u have signed doesnt have this clause?

2.2.1 talks about eligibility, ie for new customers like u. but u r still subj to clause 3.1.3. no?

i already grilled the rm earlier, they kept saying 50% only. then they let me looked at the t&c. i donwan to put all the funds there and then later they come tel me this is what u sign so heres your reduced interest sum.

so did u get a slip with full 5% on the full sum?

good for u chief!

now its my turn to try me luck tmr. cheers!

The other day i met this bunch of ppl, who are active into pledging FDs. But i also got to know these ppl have tons of loans (including housing) which are not paid off and the loans are much more than the FD sums. Wouldnt it be more prudent to park the moneys into the housing loans to enjoy the "savings"?

Anyone here who does the same care to enlighten me a bit?

if i read this right, this hsbc u have to leave the total funds (the part which is not in FD) with the bank for 3 months, to enjoy up to 6.88%.

whereas for ocbc, u can enjoy 5% but the funds not in FD u can take it out and use it elsewhere.