Plan to go for MACH Hong Leong 12 months 4% but read about the TnC and not fully understand.

Since it is a paperless FD and manage using Money Box account, after 1 year (mature), how can I 'withdraw' all the money into a Banker's Cheque? If I don't do this, the interest rate will automatically fall back to board rate (3.25%). What is the procedure for closing Money Box account? If all FD withdrawn already, no point keeping the Money Box account and get charged RM8 yearly.

Can somebody shed the light?

Can't you do it manually at the branch?

You can opt for free IBG but it would be a PITA if the amount is huge.

Thanks.

Thanks for the reply. One question, anyone knows if MACH accounts are linked to HLB Online?

It is only my first account with HL

login page is via hongleongconnect.my

and there is this message Click on "View All Accounts" button to view remaining accounts that you have with HLB.

Presume it is a yes?

Thanks again for the reply. I shall go check it out tomorrow.

I saw this FAQ in MACH page (https://www.machbyhongleongbank.com/mach-fixed-deposit)
"16. Would I be able to withdraw my Mach FD via over-the-counter (OTC) transactions?
No, as this is an online fixed deposit account. As withdrawals from your Mach FD will automatically go into your Money Box Deposit Account, you can access your funds via your Money Box Deposit Account."

Since a debit card is linked to Money Box Deposit Account, does it mean I can have no choice but to keep spending the debit card?

If I go for IBG option, that mean I must have another normal HLB savings account and transfer the matured FD into that account. Only then I can withdraw the cash or buy a banker's draft using the savings account. I'm not sure.

This post has been edited by cactuscch: Feb 20 2013, 07:30 AM

Don't need the deposit monthly, the FD promo is a one time deposit only.

yeah..UOB 3.65% looking nice atm..went there 2day..
was trying to nego for higher rate for 1 year but fail..200k just doesnt look the same these day

ended with 3.65% for 9 months + freebies..


p/s: welcome back gen-x

any1 care to share which bank offers best rate by pledging FD?

i am surprised. last month they offered me 3.70% if i put 12 mths. deposit amount small than yrs.
this is after the officer made a call to manager of the branch.
i wanted only 9months, so did not take it.
moreover hlb 12 months is >3.95%, no reason to go for uob.


one thing... uob give you slip and paper envelope, hlb give you slip and nice fitting plastic folder!

HLB got 3.95% for straight forward FD placement (Except MACH which is inaccessible for some)?

I cannot find any.

This post has been edited by cherroy: Feb 20 2013, 02:23 PM

The closer I came across is HLISB.

3.8% for 12 month and 3.9% 15 months. http://www.hlisb.com.my/promo/deposit-i/index.htm

Is this like normal FD? Dont have to open a new saving account?

i was refering to the "4.18%", that one with 16.7% of totall earmarked 4 months in sav/jr sav.

i am not sure the reasoon why some view this 4 months bit that negatively... as i am sure i can park it at >3.5% later, overall is very good!

CASA linked can be hassle if one has multiple FD placement linked. Need to remember one by one when is the earmark release etc.

So always prefer no CASA linked.

Thank you thank you. Pretty good rates.

Great! I have a maturing FD on early March, and I've HLB account, so its convenient

This post has been edited by Pink Spider: Feb 20 2013, 03:32 PM

Yah, HLB pretty convenient because they consider CASH as "new fund" according to their T&C. So I guess withdraw your current FD in cash form

No, my maturing FD is with AmBank. Headache is, internet GIRO limit 10K per day, I think I gotta buy a Cashier's Order from AmBank

Nope - only upon maturity from what i understand.

i am just a small customer no freebies was offered. They did asked me if i want a carton of angpao packet but that was before chinese new year