Thanks for replying. I called to OCBC helpline this afternoon. Fresh fund is required for this 3 months FD promotion.

You can switch your fund to another bank's FD promotion after 3 months in OCBC.

There is no charge for Smart Saver if you do not deposit any money in your Smart Saver account, but you will get
0.5% of interest in your Smart Saver account.

here is OCBC's Smart Saver interest table:    [attachmentid=3290681]

No lah..    I do not work for bank.

Smart Saver is in between a saving account and mini FD, Smart Saver is not a current account.
Have a look at this table, it helps you to understand how does it work:  [attachmentid=3292276]

Let's say if you have RM 10K in your Smart Saver since December 2012, if you deposit RM 1K (in order to maximize interest rate up to 2.9%)
in your Smart Saver account in 6th of January 2013, your RM 10K in Smart Saver will get 2.9% interest p.a. for the whole month of January
(2.9% p.a. on RM 10K for 31 days); whereas your RM 1K deposit will get 2.9% interest p.a. calculate from 6th until 31th of January.
Smart Saver pays interest on daily basis.

Once you make a withdrawal, the interest in your Smart Saver will drop to 0.5% for the particular month.

Most banks do not needopening of saving account for opening up of FD account. But bank promotes good interest rate providec some portion of the fund is kept in saving account. Ocbc, HL bank are typical example....

In order to maximise interest on saving acccount,
For Ocbc, smart saver is a better choice
For HL, junior saving is a better choice

Of course you can have a choice of not opening up saving account by taking up their non promotional rate (board rate) FD or islamic FD