Then no need to think too much, just deposit it in OCBC for 1 year to get 3.7% first to avoid losing
daily interest.

After deposit this money while earning 1 year interest, you and your father can take this 1 year
time to think what you should do next with this money in 1 year later.

I am afraid 50-60K is hard to negotiate.

Or you can consider OCBC's 3 months FD at around 3.96% rate

2/3 of fund put in 3 months FD at 4.5%
1/3 of fund put in Smart Savers account for 3 months at 2.9% (need to deposit RM 1000 in Smart Savers in 2nd and 3rd month to get 2.9%)

Average is approximately 3.96%

I forgot to add:
The Premier Manager also mentioned how soon can receive fund in current account
also depend on the bank (fund recipient).

According to her, Maybank is the fastest to receive fund via wire.

By the way, there is a always a security guard inside the Premier room, is it necessary?

No...

Let's say if deposit RM 50 in total:

(1) 2/3 of fund from RM 50K = RM 33333.34
This RM 33333.34 will put in 3 month FD at 4.5%

(2) 1/3 of fund from RM 50K = RM 16666.66
This RM 16666.66 will put in Smart Savers account for 3 months tenure at 2.9%

In order to get 2.9% for RM 16666.66 in your Smart Savers, you have to deposit
at least each RM 1000 during any working day of the second and third month in your
Smart Savers account, upon open your Smart Savers account.

Please look at this Smart Savers Interest Table - Only look at Revised Interest Rate with Yellow Background:



You cannot withdraw your money from Smart Savers until your FD is matured
in 3 months later.

This post has been edited by BoomChaCha: Jun 6 2013, 10:46 PM

And do not forget to have your father to put down the beneficiary name
in his EPF account.

Sorry, I did not make it clear:

One security guard is standing inside the locked Premier room (I think with a rifle), and there is one more
security guard without armed standing outside the regular counter office hall.

I was wondering is it necessary to have a security guard with a rifle stays inside the premier customer room?
Will premier customers feel comfortable to see an armed security guard watching them?

Or what if the armed security guard inside the premier room open fire to the robber, and the robber return fire to the
security guard inside the premier room, what if premier customer get a misfired bullet??

OCBC should take this into consideration for premier customer ma...

This post has been edited by BoomChaCha: Jun 6 2013, 11:24 PM

You need to talk to the head of the FD department in the branch to negotiate for a better rate.
Negotiate on the phone first before you make your final decision whether to put it there or not.

But don't expect much from this UOB FD promo for 200K deposit.

Maybe they will offer you 3.7% or maybe they do not offer you anything.

You have another option to put your money in OCBC at 3.7% for 1 year.
Also, Kuwait Finance House offers 3.88% for 6 months, 1 year, or 2 years

Good Luck

This post has been edited by BoomChaCha: Jun 7 2013, 01:02 PM

Try to ask if OCBC can give you any free gift.

The most stingy bank I would say is UOB

This post has been edited by BoomChaCha: Jun 7 2013, 02:23 PM

I said: Try only... like a free umbrella

You have nothing to lose to ask for it

If they do not have it, please do not fight with them..

Good luck..

I think this FD promo is targeted on old aged and loyalty customers.
But not for Musical Chair like us..

I heard UOB requires a minimum RM 500K to be a premier customer, if I did not hear it wrongly..

The interest rate for 3 months for new OCBC premier customer is 5.5%, but need to buy
an investment product which is a bit hassle..



This post has been edited by BoomChaCha: Jun 7 2013, 11:00 PM

I agree with gsc. If I was fylon, I would put the money back to EPF.

But if fylon's father does not like EPF for somehow, then it is no point to ask his father to put FD in MBSB.

Yes, MBSB's 5 year FD is 4.7%, interest will pay every 6 months..

Oh...this happened just last year.

What was the minimum before RM 500K?

So we can foresee OCBC will eventually follow UOB's step to increase
premier account minimum deposit requirement to RM 500K very soon.

Also this indicates that our Ringgit value is depreciated.

Actually what are the benefits of being a premier customer?
I do not see the practical advantages of being a premier customer so far.

No, my FD interest rate follows the brochure, nothing special.
Yes, faster counter service to save time.
No, no coffer nor tea, only 310ml mineral water.
Not really, outside counter also can give investment advice.

I am talking in general, but the above comments is about OCBC.

I was wondering can ask for better interest rate from their FD promotion in OCBC as a premier customer?
For example: their FD promotion: 3 months FD 4.5% + Smart Savers..?

What do you mean? ----> Using means the person is loaded so dun wan the trouble...



This post has been edited by BoomChaCha: Jun 8 2013, 11:50 AM

Check out this:

http://www.ocbc.com.my/assets/pdf/branch-listing.pdf

Can explain this in more detail please?

I received a call this afternoon and asked me to buy their holiday package.
This caller said he called from YTL Holiday & Resort...

I suspect the bank is selling our personal info.

Why hard to approach foreign bank for higher FD?
Can share with us what happened..?

As long as when we open premier or regular FD account, bank will know our personal info.

You can request the bank officer not to disclose your personal info to 3rd party on the
sign-up form. But we do not know whether the bank really follows this rule or not.

Last time when I had FD in Hong Leong Bank, I received phone calls from Hong Leong and
they asked me to apply for their credit card, and deposit money in their 5 years saving plan.

When I want to get a car loan, I will submit my personal info straight to the bank rather
pass it to the car salesman, by doing this I can minimize to disclose my personal info to
other party.

I am afraid Malaysia's civil law does not include lawsuit for invading privacy.

Telco? What do they do?