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 Fixed Deposit Rates in Malaysia V3, Read 1st post to find highest rate.

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chloe999
post Jan 5 2013, 10:58 AM

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QUOTE(MGM @ Jan 3 2013, 08:40 AM)
within 14 days


Added on January 3, 2013, 9:02 am

From here: http://www.ocbc.com.my/assets/pdf/Accounts...NG_3DEC2012.pdf

I dont see anything similar to what you said.
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I wanted to know when should I deposit as well .

Just got this account by yesterday and the staff is noob , I want to deposit RM 1k ( toget 2.9% for the 1st mth) and after I deposited and got my atm , the balance left RM 992( where they deducted directly for the RM8 atm .. ==|| ) ... so my interest will be 2.75% ?

And, from what I understood from the staff , the interest will be paid as such :

1. RM 992 * 2.75% = RM27.28/12 = RM 2.273 for 4 Jan- 4 Feb .
2. (RM994.273 +RM 1k ) [if I deposit this amount , but pls advise me when should I deposit in] * 2.9% = RM 57.83/12 = RM 4.82 of 5th feb - 5th mac
3.


Pls advise smile.gif
chloe999
post Jan 5 2013, 09:28 PM

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QUOTE(magika @ Jan 5 2013, 02:03 PM)
The main question is when you have funds available, just put it in regardless of date as long as its a calender month deposit (any date will do) and you will get the max rate. Since you deposit RM992, just top up before end of the month as long as total deposit more than 1k. However must make sure the Atm deduction is direct and does not reflect in the account that is you should see your account as deposit RM998 without any withdrawal.
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now is 2.9% already , previously is 3% but 1st 3months have to deposit atleast RM 1k right ? Now no need to deposit for 1st 3 mth .. as long as deposit any amount will got the % according to the tier ( as what I understood ).

QUOTE(gsc @ Jan 5 2013, 04:38 PM)
I mentioned before that deposit into SS account need not to be on the 1st day of the month to enjoy max 2.9% interest. As long as you deposit within the month, the money in the SS will be entited to 2.9% interest rate.
Even though interest is calculated daily, the impact is not relatively high for the additional 1k that deposited.

1000 x 0.029 / 365 = interest earned daily.
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I got confused alr . So I have to top up how much for this month (jan) ? Another RM 10 so that RM992 + RM 10 = >RM1k?

I deposit RM 1k for new account , then when i got the atm card n check balance , left RM 992 only , I asssumes they direct deduct from the 1k I deposited.

If I deposit another RM 1k within this month ,then the balance = ( 992+1k) x 29% 365.

Then on 1st feb , or any day in Feb , I have to deposit another Rm 1K to get 2.9% again..


chloe999
post Jan 6 2013, 09:28 PM

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QUOTE(gsc @ Jan 5 2013, 10:47 PM)
For those opening up saving combo earlier or bonus saver,to enjoy 2.9% interest, they have to deposit 1k each month in month 2 and 3 only.
For those just purely open SS account, they need to deposit 1k any day in the month to enjoy 2.9%. And of course no single withdrawal. I remember earlier deposit RM1k is 3% and RM50 is 2.85%. Now 1k is 2.9% but not sure about now if deposit RM50, what will be the rate. Has to check bank website.

Any withdrawal will drop interest to lowest level. In your case rm8 is withdrawn, following bank rule will not enjoy 2.9% rate.
You better check with the bank whether the deduction by bank is considered as withdrawal. My guess is it is deem as witjdrawal because you probably has signed agreement to deduct from SS
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if deposit RM 50-999.99 , it is 2.45% ... I think I call back and ask for safe ..

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