No. You are NOT going to get effective 5% for sure.

I would think the more money one have, the more sensitive one would respond to even a slight increase of interest rate in FD musical chair.

The tier rates confused me , maybe eugenecctan can explain more in detail.

Since this peice of info provided by Bro eugenecctan is pretty interesting, I decided to kill some brain cells to read the tnc
According to my little understanding, YES, maybe possible for 3% + 2%
* Deposit min RM50k and no withdrawal till 31 Dec 2012. Thus fulfilling the 3% tnc.
* Assuming your are new to PMA-I, your 31.12.2011 balance is zero, thus you fulfill 2% tnc for the incremental avarage daily balance of min RM1k with the RM50k deposit in October.

Pleas ask maybank these questions:
1. If deposit RM50k on 17th October, the profit sharing starts from 17th october or 1st november similar to that of Amanah Saham Malaysia.
2. Maybank didn't use the term Tracking Period, therefore Kindly reconfirm the tracking period is from 1 jan to 31 dec 2012.

Aisay, you never give credit to the first informer eugenecctan ar ?

So the Tracking Period is the whole calendar year of 2012 ?

Need to plan carefully on this promo coz if hentam kau kau to earn 4.75% for mere 2 months this year, my PMA-I balance as at 31st Dec 2012 will be high and IF the promo extend to 2013, I'll need to top up more fresh fund to fulfill the INREMENTAL average daily balance for 2013. In this scenario, my exiting balance can only earn the GIA 1 month rate and only the INCREMENTAL amount can earn GIA + Extra dividend ( If promo still on lah)

Unless use different names for 2013 promo.

Music STOP ! Here's the chair !!



Hong Leong Pay&Save Account

Introducing the 1st Savings Account that gives you up to 3.1%p.a. interest when you pay your bills.

Get paid as high as fixed deposit on your savings balance when you make e-Payment for utilities, phone, Astro, Credit Card, Housing Loan, Car Loan or even Personal Loan from your Hong Leong Pay&Save Account. What's more? The more bills you pay, the more you save with extra interest! How to make e-payments? Simply sign up for a Standing Instruction, perform IBG or online bill payment.

http://www.hlb.com.my/pfs/dep/deppaynsave_...lag=deppaynsave

I leave this chair vacant for our OCBC Ti expert Mr ronnie to do an in-dept analysis and comparison review between OCBC 5% rebate online utility payment and the above promo.

This post has been edited by aeiou228: Oct 17 2012, 04:19 PM

That's 14.50% p.a. effectively.

The RM50K gets only 3% and the RM250 gets 5%, So for the total deposit of RM300K, your are getting RM4.5% p.a. EFFECTIVE rate.

Take a look at the sample calculation you attached.

Total savings is RM300K for 1 year.
Total Dividend earned is RM8,631.09 (3%) + RM4,883.50 (2%) = RM13,514.59 per year.

A rough backward calculation, you will get the annualized effective rate of 4.50% (ignoring the 14 days late deposit in Jan).

Another way to look at it is picture no.2, where it stated clearly that only RM244,174.95 (Incremental Average Daily Balance) gets extra 2% dividend. NOT RM300K gets extra 2%.

And one more counter check you can do is, if it is 5% on the entire deposit balance of RM300K, then you should get RM300K x 5% = RM15,000 dividend per annum instead of just RM13,514.59 per annum.

5% p.a. is correct only for RM250K deposited in the calender year of 2012 only.

This is when an OD a/c comes handy
Grab the PMA-I promo in late October with OD fund then cover it up on 1st November.

We ? Gee, you are from maybank ?
If it is 5% effective, rm300k should get rm15k dividend. But in your illustration above, it was clearly 4.5%. (ignore the late 14 days deposit)

I think you have forgotten about the rm50k balance as at 31.12.2011 which is not entitle to extra 2%.

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Added on October 18, 2012, 11:21 amIt is correct only for the new to PMA investment deposited in calendar 2012. But he was referring to the investment illustration posted above as 5% pa. which is incorrect.

This post has been edited by aeiou228: Oct 18 2012, 11:21 AM

No, I don't have existing PMA-I account yet. I appreciated your sharing of PMA-I in this thread and it prompted my interest and that's why I actively participated in the discussions pertaining to this promo

I care because I found a discrepancy of 4.5% being defined as 5% (assuming the GIA-I is fixed at 3% and Extra dividend is fixed at 2%) and I wish to debate about it . And I was referring to the sample calculation posted by you.

Anyway, you are right about 5%p.a (assuming the GIA-I is fixed at 3% and Extra dividend is fixed at 2%) only if customer is NEW TO PMA-I in the calender year 2012 with zero balance as at 31.12.2011.

Since you mentioned that it only applicable to you as an existing PMA-I customer with balance as at 31.12.2011, perhaps you can share with me what is my effective % for the entire calender year of 2012, if :-

My existing PMA-I Balance as at 31st Dec 2011 = RM30,000
I top up on 1st Jan 2012 = RM70,000
Balance as at 31st Dec 2012 = RM100,000

Assuming:-
No withdrawal thru out year 2012
GIA-I and extra dividend fixed at 3% + 2% thru out year 2012.

Thank you

This post has been edited by aeiou228: Oct 18 2012, 03:15 PM

Thank you for time Bro.

My old tool of trade (financial calculator) still working fine abide covered with dust, I still agak-agak remember how to do some simple compound interest calculation . Let me complete the equations for you.

With the assumptions that:
GIA-I rate is 3% pa compounded monthly.
Extra Dividend is 2% compounded monthly. (Actually extra dividend is paid yearly but I assumed paid monthly for easy calculation)

For the 30K, the compounded dividend for 2012 is = 912.48
For the 70K, the compounded dividend for 2012 is = 3,581.33

Therefore total monthly compounded dividend for calender year 2012 is RM4,493.81. Right ?? Hence 4.49% p.a effective return out of RM100,000 investment amount. I really couldn't figure out where is the other supposedly 0.5% came from.

Above is based on your formula ie split to two account.

That was not my calculation, it was Bro eugenecctan punya formula as below. I just help to calculate the compound interest and complete the equations saja.


This post has been edited by aeiou228: Oct 18 2012, 06:05 PM

5% COMPOUNDED monthly. As per Bro eugene formula of "accumulating...." Please read above post again.

This post has been edited by aeiou228: Oct 18 2012, 06:25 PM

What do you mean by The extra 2% interest is on incremental of RM1K.

Isn't it minimum RM1k to RM2M Incremental Average Daily Balance will entitle to 2% ??

---

Added on October 18, 2012, 6:49 pmIt was based on the below assumptions for easy calculation if you missed out this part.




This post has been edited by aeiou228: Oct 18 2012, 06:49 PM

If not mistaken, TnC stated Average Daily Balance for 2012 minus Balance as at 31 Dec 2011 = Incremental Daily average Balance

And the Incremental Daily average Balance must be more than 1K up to the max of RM2m to qualify for the 2%.


Aiyo....whatever la...........

---

Added on October 18, 2012, 7:37 pmI dont think so.

I would agree with the following:-

Let say, Incremental Average Daily Balance is 1,588 then the whole sum of 1,588 entitle to extra 2%.

Another example, Incremental Average Daily Balance is 999 then the whole sum of 999 WILL NOT entitle to 2%.

The maximum Incremental Average Daily Balance entitle to extra 2% is RM2million.

The minimum Incremental Average Daily Balance entitle to extra 2% is RM1000.

This post has been edited by aeiou228: Oct 18 2012, 07:37 PM

Yes. Can. you can have up to 3+1 premier accounts

1) Husband name
2) Wife name
3) Husband or/and wife names (Husband name as principal account holder)
4) Wife or/and Husband names (Wife name as principal account holder)

As for the +1, I'm not sure whether you can have two separate accounts for for the 3rd and 4th join account type. Please check with the bank and give your feed back to the forum.

Agreed, a step up rate from 3.2% to 4.4%. Average rate is 3.67%.
The step up rates was clearly illustrated in the adv.

This post has been edited by aeiou228: Oct 23 2012, 10:27 AM

http://biz.thestar.com.my/news/story.asp?f...35&sec=business

No wonder sounds familiar. Lol.

Mnet, just type out what's in your mind, your opinion and thought. That would be a much more meaningful forum participation instead of just c & p.

This post has been edited by aeiou228: Oct 23 2012, 11:59 PM

To further mitigate the lost of interest in the event of partial prematured withdrawal, you can split the FD in the following combinations:

10K FD split to 1k+2K+3K+4K
20K FD split to 1K+2K+3K+4K+10K
30K FD split to 1K+2K+3K+4K+10K+10K
40K FD split to 1K+2K+3K+4K+10K+20K
Do the math for the next level........

Now you can withdraw just any amount needed in multiple of 1K.

By the way, these combination methods has a name....it's called "Kiasu FD Split."