For EON Bank FD, last time they have this FD that pays u interest upfront. The T&C says, if u withdraw before maturity, they will deduct from your principal the interest that u are not entitled to but already paid to u.

E.g.
RM10,000 3% paid upfront
U get RM300 on placement
Next month u withdraw the FD
U will get back RM10,000 - RM300 = RM9,700

I believe Bank Rakyat should be doing the same

Very good question, i will ask this week as have some maturing from 13_15 this week..

Thanks for the info bro.
Here is my take so far after trying to play musical chair.
Placing FD in local banks like MBB, Affin, AMBank & an exception of UOB is pretty fast.
OCBC & Standard Chartered is slow with many forms & even questionnaire to fill everytime I open an FD (thought the RM does it) & they always always try counter sell you other products, so each visit will take around at least 30-45 minutes even without queue.

Thus, do you know if KFH is similar to the 'typical' foreign banks?

Otherwise I may just stick or target local banks. Besides, I cannot change banks too often too as sometimes I have to go onsite outstation.

Bro, agree with you on the above.

Nowadays I find MBB and RHB nowadays are pretty fast since deposits and withdrawals can be done with machines. AmBank I don't know since I don't have account with them. Affin, sometimes can be kind of crowded at my branch but reasonable wait time.

And I agree with you the "slow ones" are SCB, HLB, UOB and OCBC because they have freaking lots of PB customers. Click here to read my article on UOB Privillege Banking & Retirement where mentioned I would go to PB Centres to get a cup of coffee and then do the general banking hall for my transactions, haha.

Going with OCBC Promos does take a lot of one's time because as you mentioned got lot of forms to sign; and, longer wait if Promo need us to open new account. But, understandable lah, SG bank mah, so Kiasu, hahaha. Once I thought it'll be faster to just go to the teller for a straight forward FD Promo at the general banking hall and when it was my turn, I was told by the teller I need to fill in form prepared by a Personal Banker as she can't just accept my cheque So I asked her how come cashier at PB centre can accept deposit (sometimes, I go straight to the PB cashier and bypass the RMs), she told me the PB cashier by right cannot fill the deposit forms but because maybe RM busy, no choice.

As for SCB PB, I also find they have lots of customers and have to wait like UOB.

HLB, as gsc has mentioned, the wait is long. I only have been to my HLB Centre twice. 1st time to request for Priority status because needed to get an ATM card to sign up for online account to activate my daughter's Junior Debit Card for online transactions. Technically I don't qualify for HLB PB because most of my funds with them are in Junior FD, but HLB have always entertained my request, unlike others, I am one happy HLB customer. Second time there, saw so many people waiting for the PB cashier so went to the general banking hall instead. Now with HLB PB card/status, I can go to any HLB Branch and be served almost immediately at the Priority Counter:)

Same as for my Alliance PB, if the cashier is with a customer, I'll be served faster going to the general banking hall.

But none of my RM disturb me with other investment schemes because from the very start I told them I am only interested in no frills FD promos.

And the worst of all is Citibank if you are new with them, can take about an hour or more to open a new account.

KFH branch location kind of inconvenient for me and as such not interested to even check them out.

Yah, playing musical chair one must have the luxury to waste time during working hours and it's not for everybody.

OT.
Bro, I just "declared" my net-worth and my source of income to the online community in my new post which has no value whatsoever - About Me & Definition of Words Used. But then again, all my articles are just me going blah blah blah only, hahaha.

Bro, cant seem to accesed your blog for a few days.

Just check my FD cert, woah my data is wrong a few already expired, going to OCBC tomorrow..

---

Added on August 14, 2012, 10:07 amJust an update from BR. Went for upliftment, counter clerk says has to split to a few Banker Cheque, as Manager is not around so asstant cannot sign above limit. Each cheque willcost around RM2.xx. Silly bank, i ask who is going to pay for the extra cheque or my daily interest if i wait for the manager to be back. Then only do they agree to waive the charges.

For premature withdrawal at BR there is a premature withdrawal rate table. I will post later as still at Bank.
Premature withdrawal rates for 60mths deposit is 2.94%..better 0% for most banks..

Just a precautionary note to musical chair players, pls calculate actual principal plus interest before upliftment. In my case I was promised extra 0.05% although the interest in RM printed on the cert stated board rates. The staff had assured me before that their system has already recorded it. Being cautious, I tally up the amount on the Banker Cheque and lo behold the extra was not in. Have to wait half an hour again for new cheques.

This post has been edited by magika: Aug 14 2012, 10:56 AM

Just back from MAYBANK and they tell me the 6+6 campaign already end. i Fail to place FD = =

Just deposit today OCBC Combo with Smart Savers.
Did my calculation approx 4.2% pa for 3 months in total.
Initially when met RM for 3 months rate she quote me board rate, and after that only I ask about Combo and Internet FD then did she elaborate.
Thats the reason we have to have to be ready with our homework before depositing. Then after that her assistant was assigned to do all the paperwork. Relationship Officer (as to her title) was more than helpful & efficient, she did all the explaination & recomendation not only the pros but the cons too. 1+ up for her. The RM1k per month deposit I plan to do it via Giro RM2.00. Less hassle..

Also deposit in the Internet FD thingy, and quite good at max RM25k 4.5% pa rate. Only thing is that the Bankers Cheque must await clearance before deposit thru Internet FD.

One thing about OCBC is, all transfer within own account (internet banking) are subjected to RM2.xx fees.

All in all, upliftment at BR plus depositing at OCBC took me 4 hours (2 hour - BR make mistakes in Bankers Cheques . 2 hour at OCBC)
So its quite a time consuming process for those intending to play musical chairs.

Just an update, someone was asking OCBC online giro, its max RM5k only...

BR FD upliftment Banker Cheque's free..

This post has been edited by magika: Aug 14 2012, 05:11 PM

Bro, must be something on your site as I have no problems to my blogs and so does others. Try to clear cache or history.

So how many days interest you rugi? The extra 0.05% can cover?

koperasi mah.

Yes, always calculate the interest before you go and withdraw your money. Especially if your FD matures on Saturday, Sunday or Public Holiday where the banks are suppose to pay you interest up to the next working day. Public Bank so far was the only bank which tried to cheat me and the teller and Exec refused to pay me the extra few days interest. Demanded to see their superior and was referred to the Service Manager (second below branch Manager) where she also refused to pay me. Insisted that she call HQ and if HQ also refuse to pay me, I shall then report to BNM, then only she called HQ and paid me the few days interest. No more PBB for me.

thanks for the update.

Transfer between OCBC also for fee. No wonder they promoting eFD.

4 hours = half day away from work, Bro, your company got vacancy ar? I want apply.

Bro, I am confused here, earlier you mentioned RM2.xx per cheque. First cheque FREE and second and subsequent cheque are imposed fee?

This post has been edited by Gen-X: Aug 14 2012, 05:28 PM

My RM confirmed that SmartSaver can be transacted by Internet Banking and ATM card. In fact I can see the account from Internet Banking plus all my other deposits & accounts.

Very true about OCBC, I asked the RM why each time I open an FD he needs to fillup the same forms & questionnaire manually, he said is 'SOP'.
I don't mind spending time but I think 3 months is abit too fast that I need to visit them again. Moreover, I was not happy the last time I accidentally uplift my FD prematurely & the teller didn't even warn me!

But upliftment of OCBC FD to a banker's cheque is free though.

UOB is ok as once you have an account with them, they just need to print the particulars & maybe fillup a form for the FD, that's it.

SCB, is abit scarry as they somewhat record your activities/transactions with them. They tell you, oh, you are a very safe person, only place FDs & never considered their other products bla bla bla..

I may consider Bank Rakyat or KFH but is abit far for me though, else I may just return to OCBC since they so frequently have promos.. hehehe..

Even in my workplace cannot access lah. Let me check further..BR did not pay me extra for Saturday/Sunday though , forgot to check, nevermind lah lazy already next time will check..

Extra 0.05% means my personal expenses for the day has been paid..

BR, I was reporting live lah like TV3, wat singh was that... he..hee. The counter clerk told me, then after I ask who is going to pay for the extra cheques, then it was waived. After I left, I went back again to enquire and then was told for FD upliftment it is free..wats going on...

For OCBC eFD transfer no charge.

Bro, sewerage company got vacancy want or not...

This post has been edited by magika: Aug 14 2012, 05:44 PM

Shits happens once a while, hahaha. You fault for not tracking the maturity date. If the teller ask me why I want to withdraw my money, I will taruk her instead why I cannot with draw my money, hahaha. So the teller was just following your instructions

Bro, you not yet open account in Citibank I guess, they worse off. Last year when I open CitiGold for the 5% interest promo, I said I was unemployed and the Personal Banker said I must fill something, then ask me where I got my funds from pulak

Bro, you now designated as FDMCGC Karam Singh Walia

BR... once again, koperasi mah.

Sewerage company...... can no problems with my qualifications and experience, can contribute to the environment by ensuring BOD levels in our rivers can have fishes breeding and living in them, hahaha

This post has been edited by Gen-X: Aug 14 2012, 06:06 PM

Thanks for the Honorary Title, hey wait a minute , I hear a lot of people cursing him..watde..

This post has been edited by magika: Aug 14 2012, 06:11 PM

it is true public bank is dishonest when come to FD matures on saturday Sunday or public holiday. You have to watch out and remind the counter girl. Same thing happened to me when FD matured on Saturday, the counter girl refused to pay the interest when I uplifted on Monday. The assistant manager came out and agreed to pay the two days interest. Wonder anyone of you had the similar experience?

Huh? Never seen that though.... I did an online FD placement from my saving accounts and no fees or whatever. Unless they charged it when the FD is matured?

Read the whole thread lah, i said fd placement no fees, transfer within normal account is charged...

for bank rakyat, wat mean by 2.94% ?

if i deposit 60 month get 4.6% pa.

if in the 2nd yr, i withdraw then the calculate not based on the board rate(4.20% pa) ?

if calculated based on 2.94 then its not fair.

When you commit yourself to 60 mths FD, you are very lucky to even get a single sen interest. For other banks even those with monthly interest remitted to savings, they will take back every single sen. If not who in the rght mind want to deposit in 1 mth, 3 mth, 6 mth, 9 mth or even 12 mth FD. We are also not that stupid lah..though low IQ maybe.. count your blessing you deposit at Bank Rakyat...

Ps: Pls dont make a fool of youself at the bank, plss...ase

The premature withdrawal rate I quote is not for public knowledge thats why you did not get an email reply, i think.
Its shown to me as I am on good terms with the officers.

This post has been edited by magika: Aug 14 2012, 08:12 PM

20k and above will be able to take profit monthly
Pelabur boleh mengambil keuntungan pada setiap bulan bagi tempoh pelaburan 6 bulan dan berjumlah RM20,000.00 ke atas

http://www.bankrakyat.com.my/web/guest/pel...4D3DD9303DD7EE8

The fact that the bank credits the interest to you on monthly basis does not negate the fact that u already committed the funds for 60 months.

Standard FD rules still apply, if u withdraw before maturity, the bank will only pay u half of the contracted rate for the period passed. And that's if at least 3 months have passed. Otherwise, ZERO interest.

It is only fair to the bank that it recoup the interest that u are not entitled to from your principal when u withdraw.