If that is the case, another condition to consider, i.e. your balance as of 31 December 2011. And if you did deposit money this year, maybe you can get the 2% extra comes 14 Jan 2013


yah lah, wasting time with OCBC and UOB Promos, haha. but generally most of us do not go for Islamic promos. Last time OCBC GIA-i promo, many has reservations if the dividend are guaranteed.

or maybe the people who did go for this promo was smart not to inform us earlier as they may be afraid that the promo will end faster if too many takers, hahaha.

Ok, here is the latest on PMA-i

1. we are not getting 5% if we deposit now because the current 1 Month GIa-i rate is 2.75%. So max 4.75% unless there is further changes in the GIA I month rate.

2. If we deposit now till end of the month, the dividend rate will be based on tier rate and not GIA-i 1 month rate. The GIA-i rate only applies if fund was sitting in the account for one entire month untouched. But you still get the extra 2% on top of tier rate.

3. If you deposit now, only beginning next month you get 2.75%+2%.

Good news is offering new Maybank FD Promo for 3, 6 and 9 months where the interest rates are 3.4%, 3.6% and 3.7% respectively.

For more info - click here to my Fixed Deposit Promotion Page.

This post has been edited by Gen-X: Oct 17 2012, 12:07 PM

If a bank staff can tell you that the dividend rate is "guaranteed", that person should be sacked, haha. Stardard reply for Islamic products - profit sharing.

Anyway, I just posted at my Fixed Deposit blog a short post on the Maybank Premier Mudharabah Account-i - Up to 4.75% Dividend. Take note from the image I posted, the GIA rate changes mid month!!! I wonder if the GIA-i rate will change next month if BNM decides to lower interest rate in their coming meeting.

Well, aeiou228, you are right, we aren't getting 5% effective

I think I will take a miss on the MBB PMA-i offer and instead go try luck and play USD since AUD is like going up.

This post has been edited by Gen-X: Oct 17 2012, 11:54 AM

Bro, your above situation is a classic FD Musical Chair situation, hahaha.

Actually, I think you still can qualify for the PMA IF you go deposit cash into the account BUT what was your balance as of 31 December 2011 in the PMA-i, this is extremely crucial as pointed out by aeiou228 below.

Bro, now that we know the amount as of 31 December is crucial, like you say, don't open account this year to earn a mere 2 months when we can get 12 months if they have this promo again next year

Anyway, thank you so much eugenecctan as we now have another account to look out for.

This post has been edited by Gen-X: Oct 17 2012, 08:28 PM

Bro, unless one already got OD facility, opening an OD account just to play FD does not make sense. If pledge FD, than that amount can't be use to play FD Promo and stuck at board rates.

And since we talking about OD to play FD musical chair, here was my case.

Early this month wrote a HLB cheque from my OD account to my son's account for UOB 3 months Promo because it will mature a day before my son goes back to US in January. So he can go decide what he wants to do with his money and or open a new account with another bank if got FD promo.

Same day transfer money from my HLB Junior account to the HLB current account, but still short about RM30K

Next day, my son's FD matured, withdraw part of it in RM30K cash and deposited into my HLB current account.

Got my statement last week, no interest was imposed for the 1 day RM30K overdraft

1. You can go apply PMA-i anytime.

2. If you are referring to the extra 2%, there is no clause to say that we need fresh fund.

3. Take note of the Tier Interest rate if you are opening this month.

Anyway, I would think Maybank to Maybank Islamic should be considered as fresh fund since they are different entities.

This post has been edited by Gen-X: Oct 17 2012, 10:35 PM

Bro, why you never read my post Maybank Premier Mudharabah Account-i - Up to 4.75% Dividend at my new Fixed Deposit blog?

First of all you not getting 5% because the GIA-i 1 month rate is not 3%

Secondly, in the same post mentioned above, I did advise that one opens the account and deposit RM50K prior to November in order to get the GIA-i 1 month rate in November.

And last but not least, for CASA, unless you are depositing cash, the money needs to be cleared so opening an account on 1st November to get the Gia-i rate will depend on how you deposited your fund.

Once again, you are NOT going to get 5% no matter how you calculate because the GIA-i rate is not 3%. IF for less than RM50K, no brainer, go for HSBC 5%.

Once again, nobody is going to get 5% for November and December 2012 based on GIA-i 1 month current rate.

Very true, with the 2% interest this account is very good for those who open it this year but it is not necessary the highest interest rate for RM5K and below. Click here to my article The Best Savings Account in Malaysia to see savings account offering 2.85% and above with RM50 deposit monthly.

This post has been edited by Gen-X: Oct 18 2012, 01:31 PM

Share it here, it's freaking long and I have summarized it earlier, see below:

As as I said, there are accounts that pay you higher than 2.85% even if you do withdrawal and mentioned in this thread over and over again.

You may have earned 5% for previous months but you should not be misleading others that they can get 5% for November or December. Please check the GIA-i rate yourself at Maybank site if you do not wish to visit my blogs.

This post has been edited by Gen-X: Oct 18 2012, 02:05 PM

Bro, I agree it is a great product for 2012

But I guess you failed to grasp the terms and conditions of the Promotion which clearly states that for RM50K and above with no withdrawals, the interest rate is based on 1 month GIA-i rate which is also clearly stated in the link you gave above i.e. read the Note **

It does not matter if you have been a owner of the PMA-i account or not, what matters are the terms and conditions.

You keep stressing it is 5% which is not true if one opens the account now.

For those who are going to opened the account now till end of October, I have even pointed out to others that they will not get the GIA-i 1 month rate but tier interest rate no matter how much one deposit for October. Same condition applies for November and December if one does not have minimum RM50K credit beginning 1st Nov and Dec. And nobody was even aware of this; and if you did, you failed to highlight this important note.

The point is everyone here is thinking they getting 5%pa without reading the terms and conditions or checking with the bank before posting.

This post has been edited by Gen-X: Oct 18 2012, 02:57 PM

Bro, if just for the RM70K incremental amount, your calculation shows more than 5%

The Maybank PMA-i Extra 2% promo is applicable to incremental amount in 2012 (i.e. amount deposited in 2012 less amount as of 31 December 2011). No where did Maybank Islamic promised 5%.

And by the way, the calculation assuming one earns the GIA-i one month's rate on the first month is subjected that the RM70K deposited on 1st of the January is cleared and credited into the account on the same day so that one has minimum RM50K for a full calendar month to enjoy the 1 month GIA-i rate. And since 1st January 2012 is a holiday, there is no way you will earn the 1 month GIA-i rate for January even if you top up RM2Million because you only had RM30K as of 31 December 2011 and therefore the same as of 1st January 2012. In order to get the 1 month GIA-i rate in January, you need minimum RM50K as of 31 December 2011.

This post has been edited by Gen-X: Oct 18 2012, 05:45 PM

Bro, you are right, I also cannot find the clause thingy, hahaha I was informed of this condition by Maybank Affluent Banking Exec.

You still have more than a week to drop by Maybank and confirm this tier thingy I have been highlighting and prove me worng, hahaha.

This post has been edited by Gen-X: Oct 18 2012, 06:06 PM

The extra 2% interest is on incremental of RM1K. In other words, the probability of earning effective 5% (assuming that one gets 3% for the GIA-i) is very slim.

Anyway, we all must thank eugenecctan for highlighting this great product in 2012. And looks like he is the smartest of the lot and most likely earning more in terms of effective interest for this entire year versus us wasting time moving our funds playing FD Musical Chair, hahaha

Next year, first thing to check is Maybank Premier Mudharabah Account-i

No lah, it does not mean you need to deposit every month, just that the 2% interest will only awarded based on RM1K increment. Say you have RM52,999, the 2% interest will only be considered for RM52K



This post has been edited by Gen-X: Oct 18 2012, 06:32 PM

hahaha, noted lah you already clarified you are just "helping" him to calculate......

I reread eugenecctan post again and you know what, I just realised he has yet to get the extra 2% interest which only will be credited 14 days after promo ends. So how does one get the extra 2% compounded?

Bro, you making it more complicated lah. Or is it I making you confused when you refer to my image where I have edited it to 2.75% in red. But once again, take note of the ** (I have edited my image to both 2.75%)


Bro, you got me thinking again, does it mean the first RM1K does not enjoy the extra 2%?

This post has been edited by Gen-X: Oct 18 2012, 07:01 PM

Below is Clause 4 of the T&C

Customers may be rewarded with the special dividend of 2% per annum on incremental average daily balance between RM1,000 to RM2.0 million per account for the entire 12-month campaign tenor after comparing against the base outstanding balance as at 31 December 2011.

The key words are on and between

But Clause 6 states:

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.

Above clause 6 clearly does mentioned that one will get the special 2% dividend with minimum RM1K increment average daily, i.e. no mentioned of the word between. Therefore based on clause 6, I tend to agree with both of you.

Most probably the T&C was written by a lawyer.

SCB advertised their promo highlighting - It's Good to get one of the highest rates in town. See, they did not say it was the highest but one of the highest.

Well, with average 4.01%, it's about the same as Bank Rakyat Qiradh General Investment Account-i 12 Months tenure board rate. The difference is that the SCB promo being a fixed deposit product, you are guaranteed to interest quoted versus Bank Rakyat's Qiradh General Investment Account-i product which is based on profit sharing and the dividend rate quoted is not "guaranteed".

In respect of the above, SCB should have advertised - It's Good to get the highest average interest rate for FIXED DEPOSIT in town for 12 months tenure, haha.

So if you guys miss this promo, don't worry, you still can get one of the highest rates in town with Bank Rakyat Qiradh General Investment Account-i account which may also pays you monthly dividend at 4.01% for 12 months tenure .

That will definitely come in handy since it is the raining season now, haha

If not mistaken, HSBC new branch promo do give you an umbrella. Also UOB Savings Account promo - but you earn miserable interest. Magika did say that BR also gives free gift to new customers but can't remember if that included an umbrella. Do a search bro.

This post has been edited by Gen-X: Oct 20 2012, 01:02 PM

Melbourne here I come for your wonderful coffee. I'll be away and therefore I won't be updating the Post#1 until I'm back.

So, for you guys that never read the Post#1, here is the summary of highest interest rates for Fixed Deposit:

3 Months
UOB 3.6%
OCBC Combo Plan 3.75% - 3.82% and OCBC NEW Premier Account 5% for half AUM and you can combine the promos.
HSBC 5% Time Deposit at New Amanah Branches at Cyberjaya, Kulai and Sri Gombak (see Post#1 for more comments from tbheng).

As for HLB, unless HLB is nearby and convenient to you, don't waste your time because the 3.95% 3 Months FD is limited to RM10K. And you need to deposit RM1K into the Savings Account which means you got to go to HLB again to withdraw it unless you willing to earn miserable interest from the savings account. And if you want to get a banker's cheque when you withdraw FD from HLB, it will cost you RM5.15; thus, the effective rate for HLB 3 months becomes 3.75% (if consider the RM1K needed to deposit into the Savings Acct, the interest rate will be lower).

6 Months - Maybank 3.6%

9 Months - Maybank 3.7%

12 Months
UOB 3.75%
Kuwait Finance House 3.85% (Dividend paid upfront next day into Savings Account)
Standard Chartered Bank Step Up Ave 4.01%

And of course, we have Bank Rakyat Qiradh General Investment Account-i - Similar to Fixed Deposit where the rates are competitive everyday and if you deposit above certain amount, the dividend can be paid on a monthly basis. Also magika has informed us that we can nego for extra 0.05% (with the Assistant Manager) and get FREE gift too for new account. And of course, opting to go with BR means you don't feel the need for your money to be insured by PIDM as you trust your money with our government.

This post has been edited by Gen-X: Oct 21 2012, 10:01 AM

Hi Bros,

If you guys recall sometime back a member reported that Bankwest was offering 10% for Kid's Account in Australia. Well, now it's 8%. Generally, as most of you are aware, interest rates have dropped in Australia but we still can get 5% or more for a few months when we open for new savings account. To learn more - click here to my article I'm Back From Melbourne where one of my new article is titled Australia Best Savings Account.


As for Premier Priority Privilege Banking Account, most banks require us to sign up for it - i.e. OCBC, RHB, HLB, SCB and UOB. Even if you deposit RM1M, you are not automatically granted PB status but you need to apply for it.

So, if you have joint FD with your wife, but only you are a PB member, you wife is not granted PB status.

So coming back to OCBC 5% 3 Months 50% AUM for NEW Premier Account, if you wife has yet to sign up for PB status, she is eligible for the promo when she applies for BP status.

Trick is - you and your spouse should never apply for PB status at the same time to enjoy the same promo for the same fund. For example, if promo is good for RM200K, and you have RM400K split it to 2 accounts i.e. 1 account you name first and the second accut your spouse name.

I guess you are referring to OCBC Premier Banking new sign up for the 5%. It was previously posted at my Fixed Deposit Page at my main blog but I have moved it to my new blog called Fixed Deposit Malaysia : www.fixeddepositmalaysia.blogspot.com where I can expand on my thoughts and share details of FD Promos. And the info you are looking for is in my article OCBC Booster Deals

your are welcome and you are right, my mental calculator must be screwed up, hahaha. Thanks

This post has been edited by Gen-X: Nov 1 2012, 07:14 PM

100% got penalty - you will get your capital but no interest.

What you should do is split the amount you have to several FD certs to minimize any damage. Example, you have RM10K, you can split it to 2 FD cert RM5K each.

This post has been edited by Gen-X: Nov 2 2012, 06:23 PM