If you can convince your dad then mission accomplished. I think that there is a 7 day cooling period so pls ensure it is cancelled before the dateline.

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Added on October 12, 2012, 10:49 pmIts not only senior citizens but anyone of us could be the victims. Just check whether we have participate in any such schemes such as assurance, investment link, gold trading....oops.

Such is the persuasive powers of salesperson, with the help of ambiguos terms & condition, anyone including highly educated persons are caught. Most banks have such a scheme, but good or not is in the eye of the beholder. No right or wrong.

This post has been edited by magika: Oct 12 2012, 10:49 PM

No problem. Pls ensure that you accompany your dad when cancelling the scheme, as they will make a final attempt to convinced. There will be no second chances, as once convinced for a second time, ego will come into play. My 2 cents only.






This post has been edited by magika: Oct 12 2012, 10:57 PM

If not mistaken, your dad has to go along.

In that case why not deposit in online FD, as easier for upliftment, i think is faster. Or do not trust online banking?

Why make it so difficult wan, just give standing instruction for interest to be credited to savings. Just find FD that paid monthly interest, or if can wait, wait for maturity date with same standing instructions.

My online fd with OCBC maturing tomorrow, and still not decided wat to do. Think deposit back at BR if no other attractive offer. OCBC online FD still on offer?

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Added on October 16, 2012, 12:10 pmIts how much risk you are willing to take, or maybe a parking place for excess funds while waiting for future investment.

This post has been edited by magika: Oct 16 2012, 12:10 PM

Do mind refreshing me about Online FD deals? I check recently and it showes rates at 2.85 %..
If not mistaken it should be 4.5%, am I right ?
However total amount plus interest does tally and is shown eventhough maturity date is tomorrow..

I already have savings combo, issue is if add deposit into savings combo now and withdraw existing RM from previous deposit, then it constitutes a withdrawal for that month. So wat to do..

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Added on October 16, 2012, 4:28 pmRonnie, mind enlightening us about the booster deals. If existing has Combo Deals, then deposit in booster deals 20% has to be deposited into Smart Savers. If previously have RM in S/Savers then it constitutes a withdrawal later on..

This post has been edited by magika: Oct 16 2012, 04:30 PM

Bro, you a life saver..

Will look into MBB tomorrow too.

Still am confuse in the booster deals. Does it mean we can open two Smart Saver Acconts? Booster deals mention smart saver, or maybe I am wrong.

In your blog, its mention 3 mths FD at 5%, does existing OCBC PB customers qualify?

Gen-X
PMA account, is it current account?
Campaign period is Jan 2012 till Dec 2012, means entitle for November & Dec 2012, two months only?


This post has been edited by magika: Oct 16 2012, 06:40 PM

Bro, he just disappeared without any elaboration, do appreciate it though. The thing with complicated T&C, it would be extremely very helpful to explained it further, as most of are vary of being misinformed. Better earn less than being made a fool.

Just for info, I do have an existing PMA-i account which is a current account i.e cheque account with MBB. As seen from the link given, the offer is from Maybank Islamic a different or same offer i do not know. From MBB website, nothing much is shown, however Maybank Islamic website does show the deal.

Tomorrow is the maturity date for one of my OCBC Fd below RM50k, therefore thinking of transferring to my existing Smart Saver hopefully can get 3% for two weeks. By then a few of my other FD would reach maturity date then only can considered Maybank Islamic PMA 5% deal.

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Added on October 16, 2012, 11:12 pmQuite a number of red faces here, I would imagine. With our combined resources, its such a letdown.
Nevermind, next time let us check not only main bank, but also its islamic brothers website.

This post has been edited by magika: Oct 16 2012, 11:12 PM

Correction, Maybank Islamic website.

Last i check, 5% promo was not stated in MBB website but only in MB Islamic website. Islamic services should be available at MBB, but Maybank Islamic do have its own branches.

If not mistaken, the 5% promo was advertised in the newspaper before but due to its complicated terms and conditions, did not pursue it.

My online Fd has mature yesterday, and today I m transferring into existing Smart Saver Account. Deposits in existing Smart Saver will mature this week, but I am keeping until 1st November in order not to violate calender month withdrawal rule. Theoritically todays deposit will earn me two weeks 3% rate. Total deposits in Smart Saver will only be transferred on 1st November. It therefore disqualify me for PMA-i deal. Now what am i going to do on 1st November?

In mid November a few of my FDs will also reached maturity date. Subsequently in December, January will be a few more musical chair rounds..Now not very sure of best deals with recent turns of events i.e PMA- i debacle..

Thanks, Gen-x for the update.

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Added on October 17, 2012, 1:33 pmSo far for Islamic FD, no forumers has ever complained of getting lower or higher as stated, so I wonder why the reluctance. My FD from BR so far has paid out not one cent less or more, OCBC GIA-i will only reach maturity next year.



This post has been edited by magika: Oct 17 2012, 01:33 PM

Thanks.

I think I will apply for OCBC OD, then use OD to apply for Maybank Islamic PMA-i . Just a note, I was on the phone with Maybank hotline enquiring on PMA-i , it seems to confirm that its a current account thereby requiring an introducer. Gonna phone Maybank Islamic to confirm.

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Added on October 18, 2012, 9:58 amSame case here , been adding Rm1k via giro. Only thing is no matter wat date mature, better keep it untul the first of the following month..

This post has been edited by magika: Oct 18 2012, 09:58 AM

The more I look at it, the interesting it becomes.
Here is my evaluation though do kill a lot of brain cells.

1. No need introducer if apply thru website. How still not sure.
2. Its daily calculated based on the example by Eugene. Need to reconfirmed.
3. Does not matter which day of the month we bank in as its calculated daily. Needs further confirmation.
4. One is Monthly dividend calculated daily paid monthly, another is Special dividend paid after the tenure.

I m still waiting for Maybank Islamic manager to call me as their staff staff dare not commit anything..

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Added on October 18, 2012, 10:48 amEugene is correct.

The initial RM50k is assuming at 31 Dec 2011 your balance is RM50k, so it should be ignored. If you are a new account holder your balance would be RM0.00. So calculate based on that. Did not do the actual calculation though..


This post has been edited by magika: Oct 18 2012, 10:48 AM

Bro, need to ask you the One Million Dollar question...

If according to the table provided bu Eugene, anytime before 31 December 2012 will be eligible , calculated based on normal principles for FD rates.

As said a lot of red faces around including yours truly. Appreciate it, do share more here .

Forums are only as good as the quality of its contributors, nevermind if we miss a deal or two.

Bro Gen-x, I read your blog, showing 2.75%. However on Maybank Islamic website still showing 3%, i guess its rates should be shown on current rates. However dose not matter as its still highest available to us not from the Klang Valley.

Maybank Islamic Gia-i for 1 month FD which is the reference shows indicative rates at 2.75%. Still good to go.

This post has been edited by magika: Oct 18 2012, 01:55 PM

Bro Gen-x, I still could not find the tier clause thingy. Without that clause we (meaning interested forummers) still can get the ahem. .cough..supposedly 3% monthly and tenure dividend. My opinion only.
The indicative rate is based on Gia-i 1 mth tenure, but not necessary be exactly one month, as shown by the sample calculation, still can enjoy the rates no matter what day we deposit. I was thinking along Smart Savers line.

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Added on October 18, 2012, 5:46 pmStill holding on to the balance at 31 December for your calculation?
Your RM 70 k earned 5.11% already, omg must hurry to open..

This post has been edited by magika: Oct 18 2012, 05:55 PM

Actually today I called Maybank hotline, then was refer to called Maybank Islamic, after a brief briefing was told the manger would called me to elaborate. Nothing so far. Today has to attend meeting just came back. Let us see how tomorrow developement. I have already printed out Eugene calculation(provided by Maybank of course ) and have peruse it. If the calculation is correct then of course you are wrong. I am betting on Eugene so far.
Based on the calculation, actual dividend should be more than 5% if the indicative rate is 3% of course. He..hee lucky remember to put the disclaimer.

Hear..hear..

The other clause is the incremental thingy, does incremental means add deposit every month, and that deposit does not earn the 3% the following month. If you at Maybank Islamic websit it shows two columns, current and incremental. Based on my shallow understanding, existing deposit at present earns 2.75% and new deposit earns 3%. So for new depositor, the first deposit will earn 3% and subsequent months earn 2.75%.

However based on the calculation provided and also Eugene has stated that he received 3% monthly, then the calculation provided is the main key..

This post has been edited by magika: Oct 18 2012, 06:28 PM