This is the third time Affin revises down its saving account interest rate this year. Other banks like OCBC & Ambank are introducing new saving accounts with high interest rate while Affin keeps cutting the interest rate. Take note that Affin interest rate is based on deposit band tier. Meaning the effective rate is lower than the one shown. Affin used to have 1 of the highest interest rate saving accounts but not anymore.

UOB revised their eAccount interest rate to 3.08% from 2.78% for account balances above 20k. Most of the banks reduce their rate, so it's good to see a bank increasing their rate instead.

Most banks do not need those supporting documents to open a savings account. Only selected banks' branches / staff want to be so particular about it. Some staff like to make it difficult for customers while other times it is their superior who issued the instruction. It is not a valid reason for an unemployed to be denied opening a savings account although I have heard that excuse before. Where do you expect people like housewife to keep their money in? Milo tin? You can actually complain to the bank's HQ or Bank Negara if you don't mind the hassle. I suggest to try another bank / branch though.


Btw, it's 8x/month.

Which bank is that? Are you sure your account is a BSA? For all BSA, the min. is 8x/month.


Really? I have an islamic BSA with CIMB, I am able to transfer money using CIMB Clicks.

Did you contact customer service about this issue? Did CIMB staff tell you that this basic savings account cannot do online transfer? As far as I know, most if not all basic savings account (conventional or islamic) from the other banks can do online transfer without any problem.

Did you tell the staff that you wanted to open a fee-free basic savings account (with limited ATM withdrawal)? If not, the staff probably open a basic savings account with annual fee for you with unlimited ATM withdrawal.

Sorry to hear that. If your account is BSA with fee, you will be charged every year regardless of whether or not you have an ATM card. The staff should have opened the non-fee BSA for you since you are not using the ATM facility at all. Problem is, sometimes they don't ask you what option you want. They just simply choose the default option for you if you did not specifically mention the option you want.

This post has been edited by Nom-el: Jan 18 2017, 12:40 PM

I don't know but you can try. What I do know is you cannot convert a non fee-free BSA to a fee-free BSA and vice-versa. The only way to do that is to close the existing account & open a new one.

Hong Leong Bank's 7% p.a. CASA/-i Bonus Interest/Profit Promotion (7/7/2017 - 13/7/2017)

https://www.hlb.com.my/content/dam/hlb/my/d...branch_CASA.pdf

How do you get 3.60% p.a. for OCBC 360 Account? It should be 2.90% p.a. only if fulfill 2 requirements.


Yes.

New savings account from OCBC - Booster Account

Balances below 30k - 0.25% p.a.
Balances of 30k & above - 3.25% p.a.

https://www.ocbc.com.my/personal-banking/Ac...ster/index.html

There is a Wealth Bonus promo going on as well.

Affin Bank revises down their Savings Account / Current Account rate again effective 1/8/2018. This year alone, the rate has been revised down multiple times.

http://www.affinbank.com.my/General/Rates-...erest-Rate.aspx

Anyone has any idea on the daily cut off time for bank's interest calculation for savings / current account? In other words, by what time the fund must be in the account for it to be considered as part of the balance for that day? OCBC's cut off time is 9:45pm for e.g. What about HLB, UOB, MBB, CIMB, PBB, Affin etc.?

Can a bank close a customer's deposit account without providing any reason? Anyone experienced this before? I have been informed that the bank would like to close all my deposit accounts and asked to go to branch to facilitate that. If I do not act within a certain time frame, my accounts would be automatically closed. When I asked why, I was told they don't really know the reason as it was HQ's order. Can the bank really do that? This is so unfair.

All my accounts are active.

I requested an official letter from HQ from the branch's staff who contacted me and did receive a letter from the bank a few days later. However, it was not from HQ but from my home branch instead. No reason was given either in the letter.


The problem is the bank is not disclosing the reason for their actions. So, we could only speculate. Almost all the transactions in the accounts were among my own bank accounts. They don't even need to tell me why? That is so unfair. So much for Treat Your Customer Fairly charter. Maybe I should demand for an explanation from HQ? Can they ignore my demand? I cannot appeal or explain myself if I do not know what I did wrong (if any).

The terrible bank, UOB.

Is this your recent experience or was this some time ago?