Till end march

Looks like 4.5% is only for 2 months only? A bit confusing here.

Promotion till end March - meaning you can still deposit by end of March

the FD tenure run for 3 months.

To clear the confusion esp for newbies, FD rates are ALWAYS QUOTED AS RATE PER ANNUM.

E.g. RM10,000 placement for 3 months at 3.2%

Interest u get at maturity is:
RM10,000 x 3.2% x 3 / 12 = RM80.00

thanks just done processing.

it states auto renewal with current rate? meaning after 3months still 4.5%?

Don't think so..

4.5% is like a teaser rate. for 3 months.
After 3 months, it goes back to their regular non-promo rate - whatever that is.
One doesn't know unless specifically ask them.

per the agreement you signed up with the bank , bank will pay you the rate as agreed upon for 3 months. Upon maturity you can have instruction like auto renew, deposit into Saving account etc. Bank of course want you to auto renew because your matured FD will only get the miserable board rate unless you take out and place into some other banks

whats the current board rate? i put in maybank for 2 years already, 3.05% only this year i cannot stand it anymore, slowly withdraw and deposit into other banks

Board rate ....refer to page one.......

OCBC Bank - 2.85%, 2.95%, 3% and 3.10%

so low =/ nvm la, after 3 months move to other banks

I placed a 3 months FD promo 4.5% - Bonus Saver Deal, (1/3 of the total amount put to Smart Saver or CASA) with OCBC this afternoon.

Below was the phone conversation with OCBC RM, before I went there to place my FD:


Me: I want to place my FD for 3 months

OCBC RM: Yes, the rate is 3.5% for 3 months

Me: Isn't the promo rate 4.5% for 3 months?

OCBC RM: oh..yeah. . yes, 4.5% promo rate for 3 months now

Me: ( ) Can you help me to place my FD?

OCBC RM: I am not in the office now, the outside counter can help you

Me: Okay

I know this RM for few months, this OCBC RM is only interested in opening new account which he can make
incentive; he will not help customer in anything that he cannot make money. Very pissed off with this
unprofessional RM.


OCBC FD Promo:

(1) Bonus Saver Deal - 3 months tenure
4.5% p.a. for 3 months, 1/3 of the money needs to put to Smart Saver or CASA for 3 months.
Effective rate is 3.96 % p.a.

(2) Fixed Deposit Deal - 6 months tenure
First 3 months will get 3.8% p.a., 4th, 5th and 6th month will get 2.85% board rate.
Effective rate is 3.325% p.a.

(3) Commodity Murabahah General Investment Account-i Deal - 1 year tenure
3.5% ---> I do not quite understand this, but the Customer Service said this is for 1 year tenure.
I did not ask for further since other bank like UOB beats this at 3.65% for 9 months tenure.
Mach offers 4% for 1 year, Kuwait Finance House offers 3.88% for 6 months - up to 2 years.



This post has been edited by BoomChaCha: Mar 1 2013, 07:52 PM

Affin Bank charged RM 5.00 for a banker check when withdrew
fund from saving account. Very expensive..

Bonus Savers Deal = 50% of FD value must be in CASA (not 1/3)

Affin Bank saving account interest rate table.



This promo offers additional 0.33% if maintain at least RM 20K in CASA account.
Promo is extended to the end of June 2013.

Terms and Conditions:
http://www.affinbank.com.my/news/campaign/...en-22022013.pdf

Good thing about this promo is we can withdraw and deposit money anytime but need to maintain minimum
RM 20K in CASA in order to get extra 0.33% of interest. Interest calculates based on daily basis.

I received my interest in my saving account at the end of the month -- 28 Feb 2013.

If we need to use money from time to time and to minimize the loss of the interest, perhaps this
Affin CASA promo is the best at this moment until the end of June.

And we can use it to consolidate the funds to generate our maximum return of interest, rather than use Smart Saver.

This post has been edited by BoomChaCha: Mar 1 2013, 11:14 PM

Bro, I mentioned 1/3 of the total amount, this means if the total amount of fund
is RM 9K, then RM 3K (1/3 of RM 9K) will put into CASA.

This is same of 50% of FD value, but I think to use 1/3 is more easy to understand.

Or to say "require to put additional 50% of FD value into CASA" also easy to understand.



This post has been edited by BoomChaCha: Mar 1 2013, 11:29 PM

If you put it that way... you are correct

You can ask for a change of RM that will trigger the higher management to ask why

When I was attempting to open my new premier account last year, this RM was extremely happy and exited, he called
me many times to make the appointment to meet me. At that time, he offered a good service to me.

After opened my premier account, this RM approached me for few times to convince me to invest in
something like "Callable" investment plan (an investment plan joint-venture with foreign bank , like Mercury Bank,
return rate was around 4.5% p.a.), when I asked for the information on hard or soft copy about this investment plan
so that I could study more before I made my decision, but he said he could not give me the information..
This did not make any scene at all when he convinced me to invest in something but he refused to give me the investment
plan information.

About 2 months ago when I wanted to place another FD on Bonus Saver, this RM asked me if I could open another new premier account?
He never mentioned about Bonus Saver to me. (I knew about Bonus Saver plan from this forum before I went there).

Apparently, this RM is only interested in doing what he can make extra money in OCBC, examples like to get customer to
open new premier account, get customer to invest in Uni-Trust and "Callable" investment plans. He will never and
ever talk about Bonus Saver Plan, since he cannot make money on this.

I have a feeling that he is no longer has the "mood" to entertain me since he is aware that I am not interested in OCBC investment plans.
(since no information is provided, who is going to invest..?)

So every time when I go to OCBC, I only go to regular counter (out side of the premier customer room) to do my banking, I do not
mind to go to regular counter, but I feel very embarrassed when every time all tellers ask me why I don't walk in to the premier
customer room since I am a premier customer? How should I answer them?

When I placed my FD on Bonus Savers in regular counter last Friday, the teller (actually customer service) asked me why didn't
I place my FD with my RM? I said I called the RM already, the RM said he was not in the office.

This customer service was quite helpful and friendly, she tried to sell me this investment plan - see below attached file (the
RM never showed me this), but she said she had to get the RM permission first before she could put it under her sales.

This is the recent investment plan from OCBC:



This post has been edited by BoomChaCha: Mar 3 2013, 11:46 AM

Hmm i wonder why all sifus here dont put in HLB mach 4% for 12 mths? Other banks offer quite competitive rate like ocbc 4.5 but only 3 mths. Any downside for hlb mach?

I am into HL Mach 4% FD. Low maintenance (no need to move fund every 3mth). Interest credited monthly.
I guess the only issue is the location. Mach branches are only in Klang Valley.
Some may not be here. The location is good for me.