Thanks bro..

Just in case, I will also reconfirm when opening mine



This post has been edited by 1282009: Aug 8 2012, 02:18 AM

The OCBC combo FD only available at OCBC bank or both OCBC Bank and OCBC Al-Amin?

Hi all pros, may I ask if I happened to not 'renew' my FD of more than 10 years, is the money still there? Or it is frozen as claimed by certain ppl?

if you did not provide auto renewal instruction and money is not active for more than 7 years, under The Unclaimed Money Act 1965, your money supposed to be sent by the bank to The Registrar of Unclaimed Money in kl

What happens if the depositor pass away? even worse if it is e-FD where there is no paper trail?

I called SCB and confirmed we can withdraw the money, just like 1 other member here has confirmed. The guy said the 300 cashback will only be credited in Sept. Not sure how true. Let's wait n see ...

if owner passed away, depending on is there a will or not. If no will, more troublesome, the money could have divided by wife (if married) and children if there is any, or by the parents if still alive (depositor not married).

To claim the money, the person has to prove his/her relationship (depositor) or he/she is the legal will executor.

may be some other members here who have similar experience can help.

On the hand it is good to have a joint FD with the children for those senior citizen who does not have a will.

^ Thanks. Could be a good thing to start informing my family about my e-FDs

Here's a photo of Maybank Islamic FD-i promotion I just posted at my Fixed Deposit Page. Sorry for the low quality photo as I used my cheap Samsung Duos mobile phone to take it and did not check the quality as I was in a hurry. Downloaded it to my PC and then only realized it's "useless" Anyway if you are at Maybank Islamic branch, check it out.

For the 4.2% offer, it's a Step Up FD for 3 Months. OCBC Combo FD 4.5% 3 months way better.

What I do is, I print hardcopy of the placement receipt and keep in my personal file.

Even if you provide auto renewal instruction, the same thing will happen after 7 years. You can still claim back the money (not sure within how many years) but it is a tedious process.
It is advisable to go to the bank regularly (every 1 to few years) to update the auto renewal FD cert.

This post has been edited by bbgoat: Aug 9 2012, 01:18 PM

rajivshm, my comments on Bank Rakyat's accounts at my FD PAGE has evolved into an article thanks to your previous postings where it gave me some ideas for my contents. Click below link to read it

Bank Rakyat Qiradh General Investment Account-i

Just use online FD and get 4.5% pa for OCBC.? So good .. Any T&c beside min 5k n max 25k.

Btw, wat the board rate mean?

But for 2 months only..
Board rate is basically the rate u see on the board in the bank
ie. prevailing rate

is it better to hav current account with ocbc jus to enjoy the fd rate as it would be easier to take out the money compare to the saving account??

the Unclaimed Moneys Act 1965 and Amendment 2002 stated clearly on those FD which are not having automatically renew instruction will fall into unclaimed money after 7 years of inactive. As long as there is an auto renew instruction, the bank cannot redirect your FD to the registra. The bank will be considered against The Act if they send the money to the Registrar. Likewise if after 7 years of inactive, the bank still keeping the money, the bank is considered as against the Act.

The key word here is inactive, if there is auto renewal yearly, the bank cannot considered it as inactive.

My account in bank simpanan was inactive for more than 7 years. I went to bank simpanan and they told me already sent to unclaimed money. They asked me filled up the form and within two months I got my money back from the Registrar of Unclaimed money.

This post has been edited by gsc: Aug 9 2012, 04:44 PM

You can use giro for interbank transfer

with smart saver account you can get up 3% interest. How much interest will you get from current account?

if want to withdraw money from the account must go to the bank? or can use ATM card?

is there a max amount by interbank transfer?

OCBC saving combo applies to saving account thus current account is out of the question.

Or unless you take up the premium banking offer which provides 3 mth for 5% and need to 'buy' three products. One of the products can be your current account.