Yes.. Only the batch that you joined in entitled to the promote rate. Only half that amount entitle to 5%. If you are married, after 3 months let your spouse join in as premier provided earlier you didnt register your spouse.

A few queries...

If I open Savers-i when I already have Savers, the T&C says that my ATM card will be linked via the M2U account that I applied from. Does that mean whenever I withdraw cash from ATM, it will now withdraw money from the Savers-i a/c and not the normal Savers anymore?

The 0.4% is the 5% Profit Sharing Ratio entitled to the a/c holder? Or does it need to be apportioned further 5:95?

I would like to ask which bank offers the highest Interest rate for FD ?

Thanks

Anything from Hong Leong recently? Just got a call from them asking to meet up at my office this Friday to show me their new promotion. The girl said something about guaranteed return and better than FD promo rates.

That's pretty clear hints already. Cancel the appointment to save your precious time unless you really interested in long term investment link product.

Ah okay. Nope not interested in long term. I shall go cancel appointment now. Thanks

This is typical tricks used by most banks, two parts -
Guaranteed return part will sure less than FD or same as FD rate.
Better than FD part will be the projected non-guarantee return

After I told her not interested, she told me this one got guarantee return in black and white and it's a saving account because they want us to save.

Anything claimed better than FD must be insurance type investment.

I think the sales person is referring to HL Cash Builder which you have to pay up to 6 years. OCBC has something similar called Builder Express which you have to pay for 12 years. Both schemes claimed better than FD rate but the trick is the return has two portions, one guarantee and the other is non-guarantee (projected return)

going to bank rakyat to open a new fd. 3 month, was given 3.7% after nego. Service is good and friendly. Ask about the person of recommend thingy but the manager said must be have full name and ic (also must have account with BR) which i do not have any. Surely mr. GenX shall be the person to quote.

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Added on November 15, 2012, 12:24 amI do not wanted to confused anybody here, after calculation of the total return, it come out to be 3.7304% (Duration is 09/nov/12 to 09/feb/13). I am using net amount i get on maturity (X) which divide by 3 and multiply by 12 which i get Y. Then Y divided by my original money put into BR to get Z. This Z will be multiply by 100 to get the 3.7304%. Hopefully some sifu here can explained more to this. Many thanks.

This post has been edited by ilovefdmalaysia: Nov 15 2012, 12:24 AM

I deposited yesterday at BR for 12 mths. The actual calculation is No. of days/366 x rate x principal.


This post has been edited by magika: Nov 15 2012, 08:50 AM

Whether guarantee or not is another issue.

If it is a saving plan, it is a long term commitment, means you cannot withdraw the principal/premium paid for 10, 12, 15 or 18 years without premature cancellation of the saving plan,
while premature cancellation of saving plan, may incur severe penalty depended on tenure served and result in loss in principal.

Saving plan is never a FD nor can be compared with FD.
I always shake head with those promoting agent try to compare with FD.

I get those calls often from HLB Assurance agents and even once an agent PMed me here in LYN! Should have reported him ,haha.

yah, and always do a comparison versus FD (compounded).

Bro, how much you depositing - no, I am not thinking how much I can earn from your kind thought (which is most appreciate) BUT if it is more than RM20K, asked if the dividend can be paid monthly.

Thanks magika. I recalculate the math, the year is base on (365 not 366) and the TARIKH MATANG did not included. For my case, (9/nov to 9 feb) will be 22+31+31+8 which is 92 days. Thanks Bro GenX, i had read through your post (http://genxgenygenz.blogspot.com). The dividend is credited monthly for my 5.5 years' tenure, but for 3 months the manager said can not. The 5.5 year interest is 4.65%. I feel ok about this.

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Added on November 15, 2012, 12:32 pmRelated to the Hong Leong Assurance thingy, i do the maths and found that the guarenteed return is 4.3% to 4.6% (depend on age of buying) for the span of 15 years. There is also divendend from the not guarenteed part. I buy this because i think only paying for 6 year and wait for another 9 year (when it become mature) take out all to enjoy. All sifus are welcome to comment. Thanks

This post has been edited by ilovefdmalaysia: Nov 15 2012, 12:32 PM

guys, anything about HLB FD promo. I saw banner at Hlb proclaiming 4.2x% but could not find any other info as today is public holiday..

Sorry Magika, i like to comment about this HLB. I personally do not have good experience with this bank. Now, become anti this Bank. I write in their facebook to urge people to close account at this HLB. Their service really bad. I had only one 10k FD there. Once mature. Closed it and NEVER return. This bank is SXXXXk.

in order for u to obtain 3.7%, the amount that u deposited, is it huge?
any free gifts?
which branch? if u dont mind answering thanks

I do not know how to answer you politely. Please re think your question as this thread read by many. Thanks.

1. BR 3-months tenure offer 3.65% interest rate. Some claim that if the amount is large enough, u can nego for extra 0.05%. (refer to Post #928) Some claim that the amount is 50k, some 100k... Would like to find out what is BR's policy.

2. It is very common for them to offer free gifts.

3. Diff branch may have different offer.

U can choose not to answer of course. Thanks for being Polite.