Bro, I only briefly mentioned about the HSBC TD promo at my Fixed Deposit Promotion Page.

However, for the HSBC Amanah 5% Term Deposit, I did elaborate on it in my Fixed Deposit Malaysia blog.

Edited - for the HSBC Promos, you also need to open a CASA since the interest earned is credited into it.

And don't waste your time signing up for the Premier World MasterCard unless you cannot qualify for other better credit cards like Maybankard 2 Cards. Click here to read my article on HSBC Premier World MasterCard Benefits and please note the promos are expiring soon, thus making the HSBC PWMC kind of useless ybtil they coe out with better new promos in 2013.

This post has been edited by Gen-X: Dec 26 2012, 07:22 PM

This is not FD but it could be a good alternative for those above 55 years old to park their money at EPF. Since if you are above 55, you have the flexibility to withdraw anytime. Maximum rm60k per year. No need to go to EPF office. Can just go to those banks which are having business linkage with EPF.

The risks are :- lower than bank promotion interest rate (which is quite unlikely loking at the past record) and government may change the policy on withdrawal or add in some others clauses on full withdrawal.
If you are above 60 then the latter risk on withdrawal may not apply.

1M retirement program does not apply to those who are above 55. It is quite inconsistent, the government has raised the reirement age to 60 and yet the 1M retirement program is limit to those below 55.

Affin Bank's 3.63% p.a. for 4 Months FD tenure, will end on 31 December 2012:

(1) If FD amount is in between RM 20K to RM 200K, need to park RM 5K into saving account, will get 1.9% p.a. interest in saving account
(2) If FD amount is in between RM 200K to RM 500K, need to park RM 10K into saving account, will get 1.9% p.a. interest in saving account

OCBC saving combo -4% (effective 3.8% -20%FD has to be kept at smart saver at 2.9%) ----> this is only for new customer right?

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Added on December 27, 2012, 1:56 amHow much is this Parker pen worth?
It looks more like a inner ink refill with no pen cover, not comfortable at all to use it...

This post has been edited by BoomChaCha: Dec 27 2012, 11:14 PM

If just for fixed deposit nothing much. Actually most of the time I don't even go to the UOB PB tellers but do my FD related matters at the general hall as it would be faster. Having said that, there is an advantage if you have PB, you can always ask your RM (or even the Exec heading the PB tellers) to get HQ approval to be eligible for their FD Promo rates when renewing your FD without having the need to have fresh funds. Of course we are talking about substantial amount so that it is worthwhile for your RM to disturb their Senior Management.

And UOB PB customers, when in SG can drop by their Orchard Road branch for free drinks and pastries Click here to read my article Premier Priority Privilege Banking Accounts.

Thanks Bro, think I will give HSBC a miss. Now looking for the next chair to move my funds from MBB PMA-i.

For the 1M retirement program, believe it is applicable to those >55. The only portion not applicable is the government contribution of 5%. Below from EPF website:

"Apart from the yearly dividend, the 1Malaysia Retirement Savings Scheme will also receive the Government's contribution of 5% subject to a maximum amount of RM60 per year. This contribution by the Government will only be for a period of 5 years from 2010 – 2014.
Members with fixed employers' contribution (employed and have fixed income) are not eligible to receive the Government's contribution.
Effective January 2011, the Government's contribution is limited to members who are below 55 years of age only."

I called EPF office yesterday before publishing my post. Those above 55 only eligible for self-contribution program, not 1M retirement saving scheme. The staff mentioned have to fill in Form 61A for self contribution.

Anybody know how EPF calculate the payout cycle? From when to when ? If A person contribute now, will he get his dividend based on this year declaration or next year declaration?

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Added on December 27, 2012, 2:40 pmSaving applies to existing customer too. The promotion end 30 dec 2012.

Just found out yesterday when you bank in for example rm120000, not rm24k has to be in smart saver. It is rm20k in SS and rm100k inFD. My RM never told me this ever since I joined in the saving combo.


This post has been edited by gsc: Dec 27 2012, 02:40 PM

Will put my money in Affin 4-month deposit (3.63%) next Monday with a new Affin Gold Saving Acc (2.85%). After 4-mths, if no any other better FD promotion, then just renew at Affin for 12-month @ 3.6%. Ocbc & UOB too far and not really convenient.

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Added on December 27, 2012, 4:29 pmoh yeah, will deposit another small money in CIMB e-FD for 3 monthly basis. just in case need to use money for unforeseen matter. Convenient too.

This post has been edited by jacklew77: Dec 27 2012, 04:29 PM

From discussion with some friends, the general consensus is that quite a number are interested in EPF voluntary contribution and 1 Malaysian Retirement Scheme. Gone are the days where people fear for fund safety, maybe due also to the Mayan debacle..ha..haa.
EPF have given quite good returns lately that are more than competitive to banks FD rates. I would think that these schemes would attract most contributors middle age and above as the most feared is the withdrawal age clause.

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Added on December 27, 2012, 5:04 pmMost of the time I would deposit in e-FD until reach a sum of 50k , then only would place it out to better rates FD, or timed to reach maturity dates of my current FD.


This post has been edited by magika: Dec 27 2012, 05:04 PM

ya i think i posted earlier - 20% of sum in FD to be deposit in SS instead of 20/80 split.

I checked the below EPF website, did not see any restriction on >55 years for 1M retirement saving scheme. The only portion not applicable is the government contribution of 5% for >55 years.

http://www.kwsp.gov.my/portal/en/general/1...-savings-scheme

Beginning paragraph mentioned.... ..ensure that the self-employed and individuals without fixed monthly income have their own savings plan upon reaching the retirement age.........This scheme is effective beginning 3 January 2010.

Upon reaching the retirement age ......the retirement age for self employed is 55......unlike public servant (60) and public sector employees

anyway , there is nothing great for those above 55 to join in the 1M retirement saving since they are not entitled to the government contribution

Yes, for those >55, go for the self-contribution program. The 1M retirement saving need separate application. Thanks !

Banker's Cheque Fee for FD Withdrawal - UOB is RM0.15, just did it at their cheras br

Hold till next wednesday 02/01/2013 , wait for OCBC Promotion

Received call from Ocbc RM, new FD combo, higher interest then current ending 31/12.

My relative is below 50 years old, he has deposited money into self-contribution (Form 61A) for several times since a year ago.
No problem so far.

Really...? My RM never told me about this either..

So according to what you said, after our FD is matured from Premier account, we can straight mover our fund
to Saving Combo immediately to enjoy 3.8% effective rate?

But this Saving Combo FD is only good for 3 months period right?

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Added on December 27, 2012, 10:56 pmI am talking about Self-Contribution (KWSP Form 6A1) here:

Only if reach or above 55 years old, all money from Account 1 and Account 2 can be withdrawn fully or can make a partial withdrawal.

If reach 50 years old and below 55 years old, only Account 2 can be withdrawn fully or can make a partial withdrawal - this allows for only
one time of withdrawal arrangement with KWSP; whereas the Account 1 is "untouchable" until reaching 55 years old.


In overall, KWSP interest rate is always better than banks' interest rates.

I agree the risk is that KWSP may add or change some unforeseen clauses on withdrawal policies.

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Added on December 27, 2012, 10:59 pmPlease let us know when you hear any latest news from OCBC.. Thanks

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Added on December 27, 2012, 11:11 pmUOB is always charge me RM 2.15 when issuing a banker cheque during FD withdrawal.

Thinking to switch to another UOB branch...

This post has been edited by BoomChaCha: Dec 27 2012, 11:33 PM

agreed. I m putting 50k on affin and another 20k on cimb e-fd. Thanks for sharing.

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Added on December 27, 2012, 11:37 pmThanks for the info. The affin 4-month promotion will end on next tuesday. Ocbc a little inconvenient due to its location. If really a good deal then after the affin 4-month mature in april will switch all fund to ocbc. Thanks again.

This post has been edited by jacklew77: Dec 27 2012, 11:37 PM

There is a new FD Combo ending 31/12? The current FD Combo promo started way back in October.

Bros, why you guys need RM to tell you, it is clearly stated in the T&C that 20% equivalent of FD amount to be deposited into SS. So if you deposit RM100K into FD, then 20% equivalent is RM20K right? I even showed it in Step 2 in my article on OCBC Booster Deal at my Fixed Deposit Malaysia blog

Anyway, those of you who has more than enough to live in comfort for the rest of your life and running here and there playing FD musical chair, and at the same time being a scrooge, if you got time to waste, check out my freaking long article Spending Your Children's Future Inheritance.

This post has been edited by Gen-X: Dec 27 2012, 11:41 PM

I noticed that CIMB e-FD cannot open a joint account:
http://www.cimbclicks.com.my/faq_efd.htm

Captain, the OCBC FD brochure stated this: When you open an OCBC Smart Saver or OCBC
Premier Save Gold Account.....

So I assume that this OCBC Savings Combo 4.00% FD promo is only available for new customers, but not for existing
customers..

Please check the attached file:




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