As far as OCBC is concern, personal cheque is as good as banker cheque and the FD starts the moment you open FD. Early morning rentas into Bank X, afternoon when fund available, use personal cheque from Bank X to open FD. Rentas costs RM9.

Thanks for the great summary and have a god trip

I thought i read somewhere in this forum that the fd open in oct only starting nov will get the interest or dividend.?

If a husband already premier account holder, can the wife apply a separate premier account under joint name with the wife as principal account holder?

Ge-X did mention it and I was trying to apply it in next month. I remembered I read in this forum someone has done that and he mentioned he has enjoyed 3 months 5 % for two times ( husband and wife)

the only bank I know is Am Bank which allowed transaction not at home branch. Anyone know any other bank?

I think what he meant option 3 and 4 is not applicable to open premier account.

Can only start with option 1, husband open premier account. After 3 months, wife open premier account (with the husband closing the account, I guess this s what he meant delist). After three months, wife close account and wait for 1-3 months to start the cycle again.....hopefully the offer is still available

All banks allowed joint premier accounts. My understanding based on what the other member wrote is having single name account is more clear cut to enjoy the 5% for 2 times (husband once and wife once)

Thanks for the input. Step up plus possible "revise" rate... : ..MBB Islamic already done that from 3 to 2.75%.

Went to ocbc, confirmed that if spouse never registered with bank then can open premier account with joint name and enjoy the promote premier rate. Need to buy three products. RM said no recommendation "coupon" as the offer was closed in first quarter

This post has been edited by gsc: Oct 24 2012, 12:44 AM

I did it last month. very simple just like you open FD in any bank. Since I already have e$aver, I just straight open the FD account. The customer service will fill in the form and get you sign then you will proceed to teller counter to deposit the money. The counter will give you a blue color type of FD slip/cert. On it written the initial period of FD rate. The renewal on the step-up is auto.

Now still available but on the safe side, call your nearest SC bank (was wrongly typed as ocbc) to confirm

This post has been edited by gsc: Oct 27 2012, 11:20 PM

I am trying to find out various bank practices on FD matures on non-working like Saturday, will bank calculate the interest for Sunday or non-working day when we withdraw on Monday or working day.

OCBC
The bank will include the interest on non-working day

Standard Chartered
No interest given on bank non-working day

Public Bank
No interest given on bank non-working day. My personal experience is if you make noise, the bank will then include interest on non-working day.


Wonder what is bank negara ruling on this? The interest is significant if the FD amount is big and when the public holidays is n a stretch like Festival holidays. Example FD matures on last Friday which is a public holiday, two days interest lost (Sat/Sun).

If you can consistently put aside 1k every month, may be ocbc builder express is suitable for you. It is not FD but kind of saving plan, hence will not elaborate here. Best you drop by the bank and find out detail.
Currently there is no bank offers 1 month FD promotion, usually bank offers 3 months promotion. The only banK I can think of is Hong Leong Junior saving account which provides monthly interest equivalent to their 1 month FD rate.

Just curious why BR not joining as member of PIDM or there are some minimum "qualification" required to join as member which BR is not qualified?

Even there is a black and white, you think the present government will honour it?

Welcome back. I was trying to find what are the best 3 products sign up in your prioprity banking blog. But couldnt find it. May be I went into wrong site?

Was told by RM, ocbc Klang still give gift if you recommend friend to be their premier account holder. She told me last week but now already Nov, not sure is it still going on.

thanks. saving combo plus saving account. in your step two, should be 25k deposit into smart saver not 12.5k

biggest risk is exchange rate loss. Just look at any bank on the foreign currency exchange rate on buying and selling. Buy now and sell immediately will cost you 2.7% tp 3%. Currently only Aus $ interest rate is slightly better than local interest rate. Earlier RM advised to go in when Ringgit to AUS$ was 3.15 but I didnt.

below 3.1? happen this year?

The interest calculated is based on days. 10000 x (3/100) x (30+31+30)/365..... assuming Nov (30), Dec (31)....

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.