put in 50k then when can take out all money?

A better alternative to FD (esp for those who qualified and > 55yo) is 1Malaysia Retirement Savings Scheme.

This post has been edited by MGM: Dec 20 2012, 10:27 PM

http://www.theborneopost.com/2012/03/20/ho...savings-scheme/

The 50k will be earmarked for three (3) months from the date of the deposit placement. Should you withdraw any part of the earmarked amount prior to the expiry of the (3) months Tenure, UOBM reserves the right to deduct RM125 for the gift. If the 24-karat Gold-plated Snake Figurine is only worth RM125, I would rather go for the 3-month Fortune FD instead.

Just an afterthought, I wonder whether banks limit cash withdrawal for FD upliftment ?

If a commercial bank limits the amount of cash you can withdraw from your FD account, then it means they are in deep water Need a bodyguard or boy to carry your suit case? Let me know

I wonder if BNM will investigate why one withdraws RM1M in cash or source of the cash if one makes more than RM1M deposit.


This post has been edited by Gen-X: Dec 23 2012, 12:47 AM

I would think that BNM , IR will track large movement of funds transfer. Even PDRM will be interested.

Regarding my question, for large immediate cash withdrawal, is there any rule that limits the amount , or can they insist for advance notice. I dont have so much funds to withdraw so just for info puposes only. If it happens to me, I will just stand in the banking hall yelling that the bank have no money.. it will be effective.

I do need a lenglui bodyguard..ha..ha..

This post has been edited by magika: Dec 23 2012, 09:25 AM

can students join too???

but when it comes to withdrawal, it follows the EPF procedure, that means only can withdraw from account 2 right??

Has anyone received a hamper + tupperware from BR for FD placement?

Does the FD amount have to be more than RM50K?

This post has been edited by HJebat: Dec 23 2012, 02:41 PM

Ex-Selangor MB carried big amount of cash long ago, BNM, IR, PDRM all buat tak tahu...so dont worry if you carry a lot of cash..


By the way, effective 19 nov, Public bank charged RM50 for RM 10000 cash deposit.

This post has been edited by gsc: Dec 23 2012, 02:55 PM

Well they are somebody and I am nobody...ha..ha dont mind if they let me carry their cash..

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Added on December 23, 2012, 4:45 pmThe hamper mostly consist of tidbits probably worth around RM50.
Since you know they have those as gifts why not ask ?

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Added on December 23, 2012, 4:56 pmGomen will contribute a max of RM60 . Total self contribution is cap at RM60k per year including those currently contributing ie is employed. This is a better alternative to FD . However the catch is withdrawal subject to current kwsp members t&c at 55 years subjected.



This post has been edited by magika: Dec 23 2012, 04:56 PM

Total self contribution is cap at RM60k per year starting only 1-1-2013, currently no limit right?

Looks that way, RM60k ceiling implementation date Jan 2013, not bad also.

I did. They told me every FD customer will receive the same gifts irrespective of the amount deposited.

I was like and at the same time.

So like that did they give you hamper ? It depend on the amount deposited, the larger amount the better. Hamper inside tidbits and soft drink only nothing much to say. Nowadays they give Parker Pen and a few regulat things.

Like that each day deposit a bit, so everyday get a hamper..he..he..


This post has been edited by magika: Dec 23 2012, 10:45 PM

So, if one is >55yo, can dump in any amount before 1-1-2013 and get consistent dividend just like ASNB funds with no withdrawal restriction.

I just placed a FD (<50k) at BR recently, they just given me a diary only, that's all.
The PJ Section14 BR branch is not generous enough, better don't go there.

This post has been edited by jojohoho: Dec 23 2012, 11:36 PM

Another saving plan from KWSP is Self-Contribution, it needs to fill out Form 6A (1).

For 1Malaysia Retirement Savings Scheme, it needs to fill out Form 6A (2).

I heard all members (depositors) from 1Malaysia Retirement Savings Scheme will get extra RM 60 yearly.

Print Form 6A (1) and Form 6A (2) from this link:
http://www.kwsp.gov.my/portal/en/web/kwsp/...er/all-epf-form

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Added on December 23, 2012, 11:57 pmWhat do you mean?

We need to pay RM 50 for a RM 10K FD placement?
Or we need to pay RM 50 for a cash deposit RM 10K in our saving account?

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Added on December 24, 2012, 12:00 amNow no limit until 1 January of 2013.

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Added on December 24, 2012, 12:08 amWe have 2 accounts in KWSP:

(1) Account A, can withdraw 30% of money when reach 50 years old
(2) Account B, can withdraw remaining of 70% of money when reach 55 years old

We can choose not to make withdrawal when reach 55 years old.

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Added on December 24, 2012, 12:10 amExactly...



This post has been edited by BoomChaCha: Dec 24 2012, 12:10 AM

Put >RM10k money in Public Bank also need to pay servivce charge ???!!!

I didnt ask the detail. I saw the notice on the counter at Sg. Nibong Penang branch. It just stated effective 19 Nov 2012, RM50 will be charged for RM10,000 cash deposit. I guessed the branch is encouraging cashless transaction and probably applies to all transactions.