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

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talexeh
post Dec 17 2012, 12:42 AM

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I might be slow can anyone confirm if the OCBC Mighty Weekend has come to an end? I went to OCBC early Sunday morning but the guard told me that OCBC no longer opens on weekends.
talexeh
post Dec 17 2012, 07:50 AM

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QUOTE(gsc @ Dec 17 2012, 07:26 AM)
Mighty weekend already ended sometimes back
*
Thanks for the confirmation. Now I gotta spend a day's worth of leave just to withdraw my FD then. sad.gif
talexeh
post Dec 18 2012, 09:10 AM

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QUOTE(gsc @ Dec 18 2012, 01:25 AM)
Withdraw FD ? From Ocbc?.
*
Yup. My FD reached maturity on December 3rd but due to my hectic schedule, I only got to visit the bank last Sunday, only to know that the Mighty Weekend was no more. sad.gif
talexeh
post Dec 18 2012, 10:50 PM

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QUOTE(eddie89 @ Dec 18 2012, 09:45 AM)
Hi Everyone,

I have some question.
1) Can I use cheque to open a fix deposit a/c or saving a/c instead of cash?
2) Let say I open a FD at ocbc branch A, after mature, may I withdraw the money from ocbc branch B?

Thanks in advance!
*
1) I've only dealt in cash but I believe the answer is yes. Do spank me if I'm wrong though.
2) Nope, you gotta go back to the branch you opened the FD.

QUOTE(gsc @ Dec 18 2012, 09:57 PM)
I always pre-arrange with the bank before maturity. For example in your case this is what I would do.

Go to the bank before matirity date and sign the necessary documents to IBG the FD to other bank.

If I want to open saving combo at Ocbc, I would ask Ocbc to IBG FD money to bank X and issue a bank X cheque on the same day (before maturity) and instruct to open saving combo on the date of maturity.

If I want to open FD in bank Y, then on the day of maturity using my own cheque open FD account at bank Y
*
Thanks for the advice. I was too busy to remember that my FD has matured until my reminder went beeping.

For the example you provided me especially "If I want to open saving combo at Ocbc...", may I know why do I still need to ask OCBC to issue a bank X cheque? Just trying to understand some of the methods since there are so many confusing terminologies out there. rclxub.gif

Thanks in advance for the explanation. smile.gif
talexeh
post Dec 20 2012, 09:09 AM

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QUOTE(gsc @ Dec 20 2012, 01:47 AM)
Sorry for the confusion. It should be asking Ocbc to IBG my money to bank X and I issue a cheque from bank X to open saving combo. Miss out "I".

I have been doing this way for quite some times. Last week two FD mature and I renewed in this way.
*
Ahh I see. I've yet to own myself a cheque book so I'll consider this method if I ever applied for one. Thanks for the great advice again! smile.gif
talexeh
post Jan 10 2013, 01:26 PM

One man's meat is another man's poison.
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QUOTE(newbiz2008 @ Jan 10 2013, 10:44 AM)
How about OCBC 3 months FD @ 4.5%, any one do research on this?
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4.5%? Can I have a link for that? As far as I know, OCBC do offer 4%p.a. for 3 months with 20% going into savings account.

Link here:
http://www.ocbc.com.my/personal-banking/ac...CBCBoosterDeals
talexeh
post Jan 10 2013, 04:20 PM

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QUOTE(Chigme @ Jan 10 2013, 03:39 PM)
Min is RM5000,  RM2,500 in FD and RM2,500 in CASA. The promo should be nationwide but the way this Personal Financial Manager defines fresh fund is different.  Last time they do consider fresh funds as those deposisted into OCBC a/c for 2 or 3 days ago  Now he strictly want cheques/monies that is not banked to the a/c.
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Pardon me for such an amateurish question, but can we circumnavigate this fresh fund requirement by simply withdrawing the necessary amount before registering for the FD?
talexeh
post Jan 10 2013, 05:14 PM

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QUOTE(Chigme @ Jan 10 2013, 04:43 PM)
Well, from the previous posts, it seems to be the case (musical chair). But the Personal Financial Manager with OCBC mentioned that this promotion will not be applicable if i do so.
*
Hmm... I'm wondering what kind of method they'll use to determine the eligibility. For example, if they found a large amount of withdrawal a week prior to the FD registration, you'll be deemed ineligible? hmm.gif
talexeh
post Jan 10 2013, 07:29 PM

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QUOTE(cherroy @ Jan 10 2013, 05:24 PM)
Generally eligible.

Fresh fund means, you deposit the money come from elsewhere, the money is not origin from the same bank,

aka, like you withdraw saving acc and deposit into the promotion FD then it is not considered as fresh fund, as bank still have the same amount of deposit from you.

Whether prior day before, you withdraw and transfer to other bank, only then deposit into the promotion FD, it doesn't matter,
as long as you deposit into the promotion FD with other bank cheque or cash, then generally it is eligible as fresh fund already.
*
Thanks for taking the effort in typing all those out. Just an example to confirm what I udnerstood:

I have RM11K in Bank A.
Today, I withdraw RM10K out from Bank A.
3 days later, I bring the said RM10K to Bank A again to register myself for the FD promotion.

Is this considered eligible? If no, is there a certain time frame when the said RM10K becomes "eligible"?
talexeh
post Jan 10 2013, 11:37 PM

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QUOTE(nomen @ Jan 10 2013, 10:53 PM)
Yes you are eligible. You withdrew RM11k out from Bank A  and deposited your fund into another bank (Bank B), subsequently you return with a cheque from Bank B to Bank A again to participate in the FD Promo, the bank would consider it as a fresh fund.
Everyone is doing that including myself. biggrin.gif

P/s
There is no time frame but make sure the fund in Bank B is available.
*
Ahh... that makes sense. I guess it's much safer to bring a cheque that bears the name of Bank B rather than bringing the whole stack of cash. biggrin.gif

Thanks again for the enlightenment! notworthy.gif
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