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.

. And Unless you can read the future, how you know you will be getting 5% after the promo ends?

it is not FD rate. Example if you have RM300k loan, and if BLR is 6.6% and bank offer -2.4%, so the interest bank charge is 4.2%. But if you money say RM20k to dump into that current account, bank will give you back 4.2% for that RM20k. So, it is indirectly 4.2% p.a. Am i right? 

ya lo, this is what i mean. of course, the remaining still need to charge for that 4.2% interest la.

Latest UOB Promotion update

3 months - 3.5%
12 months - 3.7%

Thats means u can get the news faster than uob..hehe

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Added on November 8, 2012, 5:56 pmJust to ask,im working in singapore and earning dollar,which country shud i keep my FD?coz singapore here bank only offer about 1% p.a..which i think is quite lower than in malaysia,but somebody told me that better dollars than myr coz myr value drop faster than dollars,is that true??correct me is im wrong..thanks

Currently cimb sg only offer 0.83% p.a fd..which i think much more lower than my is 3.x..now $1=rm2.5,max is 2.52,mini  2.45,whats ur opinion??

For OCBC premier banking, the 5% p.a 3 months promotional rate in one of the T&C mentions that :

3.5.8. This Premier 3-month FD Promotion is limited to one FD placement for each Eligible Premier Banking Customer.

Does it mean that if i transferred subsequent fresh fund after the first placement, i am not entitled to the 5% p.a promotional rate for second batch of transfer?

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.

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. 

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

OCBC 80/20 Saving FD Promo thing is quite confusing. 
It's best if you guys just wanna put in as a one off thing.

Currently I have put money into this promo twice already, one maturing 15th December and the other one 15th January, so the 20% in my Smart Savers account cannot withdraw until 1st February or else it'll be 0.5% interest. And have to top up RM1000 every month to get 3% or else it's 2.5%.  Today actually wanted to put in for the 3rd time but if I do it then I can only withdraw the amount from the saving account on 1st March. So complicated...

These OCBC 80:20 thingy make me go to OCBC many times.

Heads up Guys, courtesy of Jes88.

MBSB FD rates until 31 Dec 2012

6 mths - 3.80%
9 mths - 3.90%
12 mths - 4.05%

If open Cashrich Account min RM1k FD rate added 0.05% 

Now I wonder, MBSB is registered under Cooperative or Bank..

Excert from its website
Quote "MBSB is 'an Exempt Finance Company'

MBSB is defined as a Scheduled Institution under the Banking and Financial Institution Act 1989 (BAFIA). The status of an Exempt Finance Company was granted to MBSB on 1 March 1972 by the Ministry of Finance and the status has remained since. This allows MBSB to undertake a financing business in the absence of a banking license."

For my point of view Unit Trust is one kind of low risk and high return investment, i would say as liquid as FD because only a week to withdraw~ but a lot people think that unit trust can't generate a lot profit personally i think the main reason is the which agent you get advice from. Not to say all, some of the agents they just want to close the deal do the business, cincai cincai introduce any fund to aunty uncle, invest in lumpsum. If you dig into more details in unit trust, you will find that quite a numbers of fund giving more than 40% over 3 years or more than 10% in one year. If you clever enough to do switching, i believe even more return.

The other tools may be saving account like Hong Leong Income building, deposit RM25k per year for 6 years, will get RM6.5k every year for 30 years. and the risk to me is near 0~ It just a lot of people don't know there is actually such a good investment tools.

correct me if im wrong~

I m interested in doing the calculation for the builder thingy but really could not find any hard data. So secret one lah.. like scared WB learned about it will queue and buy all the quota. Secret thing no good. I did excel calculation yesterday and did try to find data , wonder whether anybody has real data on the builder scheme so can past the time exercising brain cells.

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Added on November 22, 2012, 9:27 am

Can try PMA-i at MBB, research first though..

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Added on November 22, 2012, 11:34 am

gsc, your year 2 calculation should be 53.04k..
end of year 6 should be 172k approx

This is not your normal bank bond like CIMB Innovative or PBB NIT issued few years back which are not refernced to any index. Which means you get the coupon rate fixed
6.8% and 7.2%, somewhere around there IINM., UNLESS the bank collapse.

This one  is more like structured product and return is referenced to an index in this case KLIBOR.
The index out of range you may get ZERO return, ie no interest/dividend payment during that period.So you can get ZERO return even when the bank is not collapse!

Besides the return rate of 4.8% is poor for such a long period. You can safely get 4.7% guaranteed month after month irrespective of whatever index up or down, with 5 years FD at MBSB.
so to me , this one is a risky product, not good. i had similar experience some years back with this, end up getting very little only over 3 years, worse than FD!!

It is not a safe product! When the index went out of range bank no need to pay interest and it will keep it going without call back.

When index keep within range bank cannot tahan the payment, bank can easily play dirty by call back and return your investment.

Yes, thank for the advice. i am kind of worry. MBSB, Bank Persatuan, Bank pembangunan, BSN, BANK MUAMALAT and Agrobank all under Koperasi and MOF, be careful. NO PIDM.

gsc,

Good point. I have been wondering wihat really is this PIDM, do banks pay to PIDM for the guarantee, how much, etc., etc.

Even with member banks paying for this service, I really doubt that the service fees will be sufficient to pay to the depositors if the bank(s) closes down. Maybe the final big brother at the end of the line is the govt to decide and bail out the troubled bank(s). Just my thought.

How much do banks pay for this PIDM service ? RM x million per bank per year ?

How much are depositors' total amount in a typical bank ? RM 100 million ? RM 1 billion ?

Something does not add up.

My 2 cents.