Ocbc 3.7% for 13 months, joint account

Official T&C (pdf)

went to OCBC today to place the 4.5% FD, but was told need to put 5k in savings to be eligible for the promo..and the amount in savings account will only yield 0.25%. what a load of bs....

You mean the saving combo promo?
What saving account did you open? They will usually recommend you to get their SmartSavers account where you have to deposit a minimum of RM1k and no withdrawals every month to get 2.9%. If you withdraw in the month then it's 0.5%.

If you have above RM200k for the 1/3 to be put into saving account, they'll recommend Premier Save Gold account, where you get an average of ~3%, without any monthly deposits.

i mean to be eligible for the 4.5% FD. eg. need to put 5k in savings, then 10k(minimum) in FD. so only the 10k will get 4.5% while 5k will only yield 0.25%

yep, i wud do that if not becos ocbc branch too far from i am usually.



confirmed, uob can give 3.65% for 12m, just you ask the officer/teller to talk to manager. not sure if min 50k or 100k.

smaller amounts, they can give 3.60%.

no need any sav a/c or curr a/c, no tie up with anything, no frills...

This post has been edited by AVFAN: Jul 17 2013, 02:29 PM

Yup, that's the saving combo deal which has been going on for some time already. 2/3 in FD at 4.5% and 1/3 in saving account, interest earned in saving account depend on which type of saving account you open.

One of their highest interest earning saving account is smart savers, which is why they usually would recommend it. Which type of saving account did you open? I have been putting FDs into OCBC saving combo promo many times already and the interest earn in saving account is usually 2.9%-3% depending whether smart savers or premier save gold.

i see..what are the criteria for smart savers? if like that averaged out the interest rate is not 4.5% loh..

You can check how it works here under "OCBC Bank - Combo Plan 3 Months FD 4.5% Ends 30 September 2013":
http://generationsxyz.blogspot.com/p/fixed-deposit.html

Smartsavers account details:
http://www.ocbc.com.my/personal-banking/Ac..._SmartSaversAcc

Average effective rate is usually around 3.9%-4%. Definitely not 4.5%, almost all the banks also will use all sorts of methods to attract customers to place FDs with them.

i see.thanks for the information.

You mean Premier Save Gold account requires a minimum deposit of RM 200K?

Yup, banks nowadays like to do this. But OCBC's combo is the best to me unlike the other crappy banks which give you way below 4%.

so many TnC read until headache.. on the smart saver account, it stated no withdrawal only will yield >2% interest, if perform 1 withdrawal, interest immediately reduced to 0.5%. like that mar not very reasonable..hmmm

This post has been edited by turion64: Jul 17 2013, 03:24 PM

question about bank rakyat, maybe this has been asked before, if want to place FD with BR, do we need to open an account with them ?

No. You do not need to open a saving account.

It's either RM100k or RM200k to get the highest interest rate possible, which is around ~3%. I don't remember where I put the product information sheet already. Better check with the bank or your RM directly. Good thing about Premier Save Gold is that no need to deposit every month compared to SS. But you need a minimum available funds of RM100k to keep that account open.

Ya, the problem with smartsavers is that you cannot withdrawal and you have to deposit at least RM1k every month to get the maximum interest. Very troublesome.

Hmm, didn't know about the Premier Save Gold. But I don't think this account is applicable as part of the promotion. Because I remember Smart Savers being the highest available option for savings under this CASA, so...maybe it's not included as an option.

I can confirm it's definitely applicable for the saving combo promo as I have been placing FDs for their promo using Premier Save Gold. Not sure about their minimum amount required to deposit though.

Ah, thanks. I'll definitely go check it out. Perhaps my minimum amount wasn't high enough, that's why that officer didn't suggest to me, lol

Yup, definitely go check with them. Save lots of hassle to deposit money every month for smart savers.
Earlier I was also told about smartsavers only, up until early this year when there was a larger amount then only they suggested premier save gold.