You did the same method as aeiou228, i.e. for your case wrote a MBB cheque to into OCBC promo? If you don't have OD with MBB, risky....

True... but you mentioned previously if you don't have funds standby for your emergency use, then bad planning, hahaha

This post has been edited by Gen-X: Oct 4 2012, 11:14 AM

If purely for FD withdrawal is FREE if you want to combine with other accounts, e.g. Savings Account, make sure you doucle check if the banker cheque is still FREE. gsc reported sometime back he was charged for his OCBC banker's cheque when he combined it with his Savings Account.

And for information, I did open a OCBC DCI Account (for AUD purposes) recently, and when I asked my RM how much OCBC will charge me for the Bank Draft in AUD in my name, she said it is also FREE Also, opening the OCBC DCI account is 100% FREE unlike UOB where I had to pay for the stamp duty.

This post has been edited by Gen-X: Oct 4 2012, 11:38 AM

Wah so fast ar.... previous offer 3.7% also closed before scheduled date. And did I not tell you previously not to call me unker. Only pink spider who doesn't know how to spell uncle correctly has the privilege to use it (even tho I know he was being disrespectful)
And thanks for reporting, updated 1st Post.

Your Majesty, don't lah demote me to god knows what unker means (no such word in the English Dictionary) just because I said no good planning, hahaha

Anyway, for those of you with OCBC PB or thinking of getting PB status, in my Fixed Deposit page I have shown how one can combine the 5% 3 Months FD with the Combo to earn maximum interest. And you can continue to do so with this option if your FD matures before end of this year IF you have joint account. The trick is, when you sign up the first time, make sure only the first name applies for PB status. After 3 months, deposit the money again and earn 5% for half AUM but this time the joint account holder name shall be first and get him/her to apply for PB status

This post has been edited by Gen-X: Oct 4 2012, 03:13 PM

If you got a child above 18 or use your mother's, father's, grandfather's or grandmother's name Brothers, sisters, bf and gf not advisable

tomorrow last day....

if really interested, call your local branch and you will know for sure.

thanks for the tip.

This post has been edited by Gen-X: Oct 4 2012, 03:55 PM

Bro, your Citibank cheque cleared?

Next time can consider munkeyflo method, pass the cheque to RM and sign all document before hand. Once OCBC cheque cleared, call RM

Interest earned from Savings, Current and Fixed Deposit is 100% tax free for any amount for individuals. However, for companies it is taxable under income tax.

I have two current accounts with OD facility and they are the same account, i.e. no spearate account number or statement for the OD facility. So not necessary to transfer funds into the current account from another account as the OD will be automatically utilized to cover the insufficient fund in the current account, of course one can only utilize the up to the limit of the OD.

This post has been edited by Gen-X: Oct 6 2012, 01:19 PM

If you got time to post above and sign up a a member, I am sure you can spare some time reading Post#1 and the last few pages of this thread. After reading them, if you need clarification and to discuss further, then post your question.

Bro, you have two options based on getting OD facility by pledging FD.

1. You can go pledge FD with MBB and get OD for your existing current account.

2. You can open a new current account and pledge FD at most banks.

But like I said Bro, the FD pledged won't be able to enjoy future promo FD rates.

This post has been edited by Gen-X: Oct 6 2012, 02:06 PM

Can you link it to current account? It would save you one step and time too.

Bro, the UOB Promo still on since it was just revised on 1st October. Actually, based on previous promos, UOB promoes usually runs until the date they announced. They may change the rates up or down and they have been offering FD promo rates continuously for the past 2 years without fail.

And before you go to the bank, you can always call your local branch to reconfirm.

AUD low? In Feb 2009 and July 2011, it was AUD1 = RM2.33 and RM2.74 respectively.

The 5% extra interest not even enough to cover the exchange fee by the bank.

And Bro, have you checked the Time Deposit Rates for AUD recently? It's even lower than Affin's board rates!

I am betting it will go lower being influence by all the analysts' comments that RBA going to reduce rate to below 3.0 by 1st quarter next year. Today's report, ad for new jobs in Australia down for the 6th consecutive month. Last week construction index down the most for 12 months. However, there is another report saying that AUD is going to strengthen because of its AAA rating. I am hoping it will go down to below 3.

@ aeiuo228
Still cannot even key in my wanted strike price of 3.09 for my DCI account before 10am today even tho the spot rate was about 3.109 because OCBC system shows the spot rate at 3.11x!! Tomorrow last day for me to try to bet because the funds will be stuck for 7+2 days and I am going over to downunder after that.

This post has been edited by Gen-X: Oct 8 2012, 09:22 PM

haha, I only want to convert if the rate I get is less than 3.10, so took your advise and cherroy's by using DCI method. The thing is I am willing to wait because difference of 0.1 is like 3.1-3.2% savings (equivalent to 1 year FD board rate or current AUD Time Deposit rates). Worst come to worst, between now and until end of the month, I can use my Citibank Global Fund Transfer for instant transfer when rate goes to 3.05 (if ever) and it will still be just below 3.1 after the exchange fee. Next month I'll be back and then see how. Still got spare AUD to burn with my Australia Debit Cards where I have deposited funds into the accounts back in May when the rate was below 3.1, so if AUD strengthens this or next week not an issue for me.

I have allocated a certain amount to be converted if and only if the rate is below 3.10. If it goes below 3.0 more will be converted and so forth. If goes to 2.75 before February 2013, I would be a very happy man because it's like 16% savings (in a matter of 4 months from 3.2). If it strengthens, then too bad for me, like I said betting.....

2011 was a still a mining boom year for Australia

This post has been edited by Gen-X: Oct 8 2012, 11:28 PM

Was informed today that HLB 3.6% 12 Months FD ending today. So call before going to reconfirm.

Bro, the PBB Wise account only allows FREE 6 withdrawals within 6 month. But you get 5% Bonus on interest if no withdrawals - but if do not need to withdraw from Savings Account, like you said, why want waste time with Savings Account? Straight away go deposit into Affin 3.6% and earn more interest.

Anyway, I have published an article title The Best Savings Account in Malaysia where I have prepared a table comparing Savings Accounts from different banks, i.e. withdrawal conditions, interest rate and interest credited. OCBC Junior SA interest rate is good but need some planing because if you don't withdraw early of the month, one would only earn 0.5% interest.

Click here to read my post The Best Savings Account in Malaysia

The best combo in my opinion if one has a child is go with HLB Junior FD + Junior Savings Account. HLB offering 3.65% for 12 Months Junior FD and interest credited monthly into the Junior Savings Account to earn another 2.95% pa. And once you hit the minimum amount to be eligible for Junior FD, deposit again (withdraw as cash and redeposit with another teller to consider fresh fund if necessary) and start earning higher interest rate.

This post has been edited by Gen-X: Oct 11 2012, 12:37 PM

Bro, if you have RM300K, I suggest before you go and deposit into HLB, look into OCBC 5% Premium Account Promo + Combo Plan (4% FD + OCBC Junior SA) and earn minimum 4.27% for 3 months. Click here to see how to go about earning the 4.27% at my Fixed Deposit Promotion Page. After 3 months, join us in playing FD Musical Chair game

Please refer 1st page. Any changes reported by members are updated accordingly.

Today, one of my HLB Junior FD matured (first one) but I could not withdraw it because I did not bring the savings book

I wanted a banker's cheque and they have to deposit the FD funds into the savings accounts first (which was done), but since I did not bring my saving book, I could not withdraw or transfer to my current account.

I was at RHB too, was informed the staff nowadays no longer enjoys 1% extra over board rates but it ranges between 0.55%-0.75%.

Anyway, it gave me an idea, those of you who opt for early retirement can join a bank and earn 1% extra from your FDs No need waste time playing FD musical chair.

This post has been edited by Gen-X: Oct 16 2012, 12:27 AM

Bro, for example, government servants can opt for early retirement after certain number of years and are still eligible for full pension. For private sector, not many have this options but if one gets VSS, can also consider joining a bank. Or if you strike jackpot, hahaha.

yah, that's what I meant.

I wonder if there is a limit/cap imposed on the amount for the extra interest. I must go ask next time.

Bro, for your case joining a bank good mah

Nowadays working in the bank branch is not like yesteryear where a bank manager is like big shot where people have to "beg" for them to recommend loan. Now the branch people come and "beg" you to take their loan, and these marketing people have titles like Vice President or Managers. Those dealing with public has quota this quota that to fulfill monthly.

I was thinking more like back office jobs that does not need to entertain complains nor meet the public - e.g. IT support, Building Management, Security, Human Resource, Credit Valuation Dept, Credit Card Processing Dept (maybe I should apply for this), etc.

Not that I understand what the promotion is about and got no clue to the definition of Incremental Average Daily Balance, but does it works like the following?

1st month deposit RM50K - get 5%?
2nd month top up another RM30K, first RM50K earns 3% and the new RM30K earns 5%?
3rd month to up RM100K, first RM80K earns 3% and remaining new top up 5%?

In my opinion, playing FD musical chair has nothing to do with one's net-worth but more on the investment risk they can tolerate in order to sleep soundly at night.

This post has been edited by Gen-X: Oct 16 2012, 11:49 AM

Bro, after reading the T&C again, I think can really get 5% (not taking into consideration when the dividend will only be paid).

Ignore the tier thingy - I was also confused but if you look at the bottom, it clearly states that for RM50K above, the rate is 3% + 2%.

T&C:

Only incremental average daily balance of PMA-i for the entire 12 months campaign i.e. January 2012 up to December 2012 against the base outstanding balance as at 31 December 2011 shall be entitled to the special dividend.

Special dividend will be based on minimum incremental average balance of RM1,000 per account and maximum incremental average daily balance of RM 2.0 million per account.

Special dividend under the Campaign is payable within 14 calendar days after the end of the Campaign (i.e. 14 Jan 2013)

Must go MBB tomorrow to go check it out.

Bro, look into the above promo perhaps?

Open another SmartSaver or Junior Saver or Premier Gold Saver account

Booster Deals refers to OCBC Current Savings and FD Promotions which include the Combo Plan.

This post has been edited by Gen-X: Oct 16 2012, 05:33 PM

If yes, then fantastic, in the previous SCB offer, if we open a new account in October 2011, we were guaranteed the 5% interest.

As of now, I still don't understand in full especially the tenure of the deposit Will report back if I go to MBB tomorrow.

**Edited**

Anyway, I started another blog called Fixed Deposit Malaysia. Unlike my Fixed Deposit Page where I basically list the FD Promotions in town, in this new blog I will comment on FD promotions in detail and post any promotions relating to FD and CASA too. And you don't need a google ID to comment

And the very first "new" post is about OCBC Booster Deals which comprises of 4 different promos. For those of you who are new to OCBC Combo Plan where you can earn 4%pa for 3 Months FD but need to deposit 20% equivalent sum to the FD into a selected Savings Account, click below link to read my article.

OCBC Booster Deals - Up to 5% Interest Rate for Fixed Deposit Promotion 2012

This post has been edited by Gen-X: Oct 16 2012, 05:52 PM

Bro, if you have a joint account currently, very easy, open a new Smart Saver Account using the other person's name as first name and your name as second. Or like I said, open a new Kids Account or Premier Saving Account.

OR if you are not into joint accounts, then just leave your existing amount in the existing Smart Saver Account and earn 3% (of course, that means this amount cannot enjoy higher interest rate)

And yes, the 5% 3 month FD is for new Premier Account holder. I did mention last week that we can use our current joint name to apply for Premier Status, (i.e. the second name now becomes the first name in FD cert but that is subjected he/she did not apply for Premier Status earlier) and we get to enjoy 5% once again

the MBB PMA-i is like a hybrid account - from what I understand not necessary need to have a current account (need a introducer for current acct).

And yes, looks like we have only 2.5 months to get 5% with the MBB PMA-i.

If they really offer 5%, then I a bit headache, to deposit or not into the PMA funds I got standby to convert to AUD - expect it to start dropping in November if RBA reduce borrowing interest rate again.

If I got RM2M, deposit into BR 12 month "fd" can get RM6,683.333333333 (nice number) a month in dividend TAX FREE

That Bank tried to "cheat" me. No way I am going to serve them even if they give me 2% extra, 8% maybe, hahaha

This post has been edited by Gen-X: Oct 16 2012, 08:16 PM