No offence, but SERIOUSLY your understanding of FD is TOTALLY FLAWED and yet u talk like everyone else is wrong

*ignore silly questions from MNet from now on*

My answer already given in the previous page, I don't wanna repeat anymore

My answer already given in the previous page, I don't wanna repeat anymore

Same I think there is an ignore button somewhere like previously we did for a bad apple..

n yet moderator allowed known troll to destroy what is supposedly a thread that benefit most of us..

oh u mean this ?

If u place 5 years i.e. 60 months FD at 4.5% at then withdraw after 2 years, u get 4.5% x 1/2 x 2 years (applying conventional banking FD rules), NOT 4.2%

basically the u get the half of the interest rate stated at the fd slip?

if WD @ 3rd yr then calculate

4.5% x 0.5 x 3 ?

(1) Trolling
(2) Not trolling but is like a glass full of water

Either way, it's ignore button for me.

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Added on August 14, 2012, 11:50 pm

Yes

I always ignore MNet posts... waste time and bandwidth
p.s. uses FEMALE tag but signature says MALE....

Back to FD at OCBC, I was to closed a savings account that was not used when the RO pointed out to me that I needed that account for keeping the funds for online FD. The recently opened smartsaver account must not be used as that constitutes a withdrawal.. Hope forummers are aware of it..

I always ignore MNet posts... waste time and bandwidth
p.s. uses FEMALE tag but signature says MALE....

+100

Then with that face

Ok, at least I know I'm not alone, I don't need to seek anger management help

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Added on August 15, 2012, 12:00 am

Bro, I'm interested to open an account with another bank (I already got one) that has online FD placement function. Can u help me with a few questions on OCBC e-FD?

(1) e-FD can be placed/uplifted anytime, anyday, including on a non-working day?
(2) Is placement/upliftment effected immediately? So that if I uplift now, next minute I can use the funds already?

Please advise

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Added on August 15, 2012, 12:07 am

Sorry, my bankers cheque needs to be cleared to my saving account first before i i can do online Fd. I have done with MBB before but has not find a reason to withdraw prematurely. The principle behind eFD/online FD is for this purposes. Just that havent tested early withdrawal before.

Problem is how u know mine is flaw?

To answer ur Q

if a person open 12 month FD and decided to withdraw prematurely

after 3 month will get 3.5%
after 6 month 3.6%
after 9 month 3.8%

If withdraw premature
@3 month
Profit rate is
10k x 3.5% x 30/365 x 3 = ur profit rate

@6 month
Profit rate is
10k x 3.6% x 30/365 x 6 = ur profit rate

@9 month
Profit rate is
10k x 3.8% x 30/365 x 9 = ur profit rate

Assumption 1 month = 30 day

Am I right or u have better calculation ?

well it took up a lot of my time enquiring for the person queries. it makes me think to really considered who to help next time.. my bad for thinking since i am at the bank might as well ask for info to help others. even received a pm, from some forummers to ask on some issues. hopefully this will be a lesson learnt and also a lesson to forummers not to divulge their net worth..

It need not be premature withdrawal

e.g. Your e-FD is maturing on 16-Aug-12, u selected auto renewal previously, then on 16-Aug-12 (maturity date) u decided to withdraw.

Is the fund available for use/transfer immediately?

Or e-FD at OCBC is still new, u haven't encountered a maturity before?

I must say that your actions did show your sincerity wanting to assist others. But since you are new here, you are at the beginning of the learning curve and with time you will know who are spammers, post count hunters, non contributors (but claim themself to be one just because they posted an uninformative post), who you should just ignore and who are long winded persons (like me, hahaha). If a person keep posting questions, then you should take note.

As for PM, beware of those who sent you a PM, they are many lurkers here out to con people or insurance agents and credit cards agents trying to cari makan   
Forum Rules and Regulations
Do not abuse the PM system. Do not send unsolicited messages, however well intentioned. A single PM is sufficient to constitute spam.

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..

Thanks for your concern, I am very careful on this security issues. There were some post in the forum asking the locality of my bank, that also I do not answer. Insurance agent and credit card agent wont find me that compliant. Till today I am insurance free except for mandatory vehicles and mortgage insurance..

Heard from my Banker that OCBC current Booster Deals which include the "Savings Combo Promo" is ending prematurely on 31st Aug 2012. Please be aware for those who plan to benefit from it during Sept 2012.