To further mitigate the lost of interest in the event of partial prematured withdrawal, you can split the FD in the following combinations:

10K FD split to 1k+2K+3K+4K
20K FD split to 1K+2K+3K+4K+10K
30K FD split to 1K+2K+3K+4K+10K+10K
40K FD split to 1K+2K+3K+4K+10K+20K
Do the math for the next level........

Now you can withdraw just any amount needed in multiple of 1K.

By the way, these combination methods has a name....it's called "Kiasu FD Split."

Just wanna confirm, if my PMA-i account has 50k, but I need to issue cheque for let's say 10k, therefore I would deposit another 10k into my account and the total balance would be 60k. After my cheque is cleared, the outstanding balance becomes 50k. With this, am I still entitled for the 5% promotion?

Aiyo.. one can go crazy trying to manage all these certificates.

Try different TIME of entry lah.. put one FD on 1st month, and skip to month 2, month 4.. etc.
Then try to take out the one has matured or closest to maturity first.

Also, plan for some emergency money in savings account. At least FD interest can be protected..

No, you won't get the max interest if there is any withdrawal.

OCBC SmartSavers monthly top-up... does it need to be FRESH Funds ?

This post has been edited by ronnie: Nov 3 2012, 10:28 AM

please drop a line if it deeps again, thank you. I am interested to capitalise on OCBC offers on foreign currency deposit when the exchange is favourable. When RM told me to go in at 3.15 last month which I didnt.

Wah lau if all split like that.. mah many many FD accounts? For me i split into batches of 10K, 25k and 50k..no need so many FD accounts.

This post has been edited by gark: Nov 3 2012, 10:39 AM

my earlier batch of FD at OCBC are matured in Oct and some in Nov, RM told me the FD can be renewed at 3.5% for 3 or 6 or 9 months, no need to be fresh fund.

Bro, split yours to RM1K, when go to the bank to renew, you have a stack of FD certs and people would be going WOW! That guy is freaking rich. hahaha. I have seen many time old grandpas and grandmas holding a stack of FD certs at banks.

People at the back of your queue may be cursing.

Imagine,
20 cert.
1 cert takes 1 min to print/process.
20 mins gone.

If one Q at the back 3 person like this, need to wait 1 hour.

Any new promotion for this month? especially UOBank? or maybe HLB, AmB, PublicB, Stand Chart, HSBCetc... Thanks.

That's the bank's fault for not having more counters to serve customers

Or worst scenario, others may tail one home and look for potential kidnap target.... and later to find out one don't have much money but just many certs, haha

Talking about queuing for 1 hour, PB customers also have to wait 1 hour or more when his/her RM is opening new accounts (e.g. savings) for some other client, hahaha

This post has been edited by Gen-X: Nov 3 2012, 12:15 PM

I think my post not clearly illustrated and created misunderstanding if not reading it properly.

Depositor A with 10K FD in one account : split to 1k+2K+3K+4K total 4 receipts only
Depositor B with 20K FD in one account : split to 1K+2K+3K+4K+10K total 5 receipts only
Depositor C with 30K FD in one account : split to 1K+2K+3K+4K+10K+10K total 6 receipts only
Depositor D with 40K FD in one account : split to 1K+2K+3K+4K+10K+20K total 6 receipts only
Depositor E with 100k FD in one account : split to 10K+20K+30K+40K total 4 receipts only
Depositor F with 1m FD in one account : split to 100K+200K+300K+400K total 4 receipts only
Do the math for the next level........

The above combinations allows withdrawals in multiple of 1K or 10K or 100k with minimum split receipts

@danmooncake
Monthly FD maturity dates has the following downsides:
The money hold back for the following months FD placements losing out on better interest income.
For small time depositor, the deposits are split to even smaller amount, thus he may not grab promotion rates which requires a large deposit amount.

Really ah.. lucky i use e-FD.. save on the hassle... otherwise if split all into 1K into physical cert, don't know where to put in the house leh?

If later the stack of FD cert get eaten by termites lagi 'suay'.... I used to print out the e-FD receipt ... now don't bother already just do a screen print to PDF.

Seriously got ppl really bring whole stack of FD cert to bank one meh? The teller see also 'pengsan' already...

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Added on November 3, 2012, 1:24 pmWait one hour is ok.. that day the RM told me the clerk all went out for lunch, you 'sendiri' go outside and take number...terrible...

This post has been edited by gark: Nov 3 2012, 01:24 PM

Thanks for the info

Anyone knows if UOB 3 mth FD tenure of 3.65% is still effective in Nov?

For PMA-I, the caculation of interest starts when one bank in other banks' cheque and not when the cheque is cleared.

Are you sure? In that case, it seems like my PMA-i cannot use for issuing cheque and the account is stagnant for 2 months?

That is my understanding as per the "RM50k and above with no withdrawals for the month" - the last item in the table here.
Do contact the call center to verify if you really need to issue cheque, maybe they have exception for such situation. Share with us your findings. (Anyway for my case, I didn't requested for cheque book.)

This post has been edited by tbheng: Nov 4 2012, 09:00 AM

If you want high returns of >4% treat it like an FD account with no withdrawal. At least it also gives you the benefit of withdrawal but with less interest.

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Added on November 4, 2012, 9:35 amDidn't request for chequebook for my newly open PMA-i account too cos have an existing MBB CA.
Tbheng just want to reconfirm with u, once the Pma-i has balance of >rm50k brought forward from Oct2012, any amount deposit in Nov and Dec (assuming no withdrawal for this period) will also enjoy the 2.75%+2% right?

This post has been edited by MGM: Nov 4 2012, 09:35 AM