Sorry , it is from RHB which I have mentioned last Friday. A member from this forum mentioned there is a confusion (from other forum) on existing and new customer rate. Took the picture and post it to share

New customer also eligible but need to put 10% of FD into CASA. Effective rate is 3.75% if able to place the 10% of FD (after 3 months) at a rate of 3.5%.


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Most banks dont allow partial withdrawal. If not mistaken Citi allow this sometimes back....

Penalty or not all bank specific.
Some gave zero interest,
some give some "token" interest provided you have kept for few months,
Some no deduction of interest but pay full interest provided you withdraw the fund and buy another products from banks...

If you plan to withdraw then split your FD, eg one 7k and the other 3k. When you withdraw the 3k on 5th month, the lost is minimized

I am not that high tech lah.....the 3.8% is KFH and min is RM20k...I just let him know, FD can be split into a couple of FD certs as long as he meets the bank requirements....but if he prepares to sacrifice the interest by having premature withdrawal, he might as well put into high interest saving account...such as HL junior SA or Ocbc Smart saver

Yet to come across a person fall asleep while counting money...

Glad to know Mach HL is in Penang.....it has advantages different from conventionak FD

https://www.machbyhongleongbank.com/mach-fixed-deposit

Maybe Mach FD is suitable for you..

https://www.machbyhongleongbank.com/mach-fixed-deposit

Yes..this is what I did last Monday

Promo ends 31 Aug or when RM300m target reach

Agreed...that applies to top depositor too...


This post has been edited by gsc: Aug 9 2013, 11:02 AM

Please refer to my earlier post for detail....min. RM10k

Cat and goat are top depositors...

Was told Ocbc premier status will be withdrawn if bank account less than the qualified amount...for Citi bank effective Nov 2013, a service fee RM80 will be charged if less than the qualified amount..

If bank charges 5.6% and can still earn board rate, let say 3.1%, net net paying only 2.5% for pledging FD? That sounds attractive than housing loan

Bank unlike Ah Long, they wont throw red paint on your door....if not mistaken, .the housing loan a person took from bank can be "included" as part of the premier customer qualification....check with the bank pledge with FD or refinance old house for OD, which one has a faster rate of aproval...

Should be ok for joint account since it didnt state has to be a single account. I went to Beach St., RHB staff counter 15 is very helpful. Parking is difficult there and he is willing to deliver the cert to me in front of the bank. That was the first time I am dealing with him.

For those who are not existing customer, the rate is 3.88% but 10% of FD has to be kept in saving for 3 months. The return is not too bad if you can find a good rate after the 3 months period.

Example, 10k in FD, 1k in saving

10k FD interest after a year = 388
1k placed for 9 months at the rate of 3.5% = 26 (assuming at that time, other banks has promotion at 3.5%)
Total interest earn = 414 or 3.76%

If 1k placed for 9 months at the rate of 3.1% = 23.25 (worst case scenario)
Total interest = 411 or 3.74%

Of course a person can place the 1k released from the SA for 12 months instead of 9 months which could get slightly higher interest rate. It is much better than Ocbc smart saver where the money is locked there and earning the most 2.9%.

The quick and easy method member used here to estimate the effective rate is accurate only when the tenure for FD and SA are the same, i.e. both are 12 months or 3 months

If up to 500k might as well take up ocbc premier customer at 5% and HSBC as well, but not sure is the promo still on..

Thanks for the great info. All the long I thought SSPN is goving peanut. A very good option considering now can deduct up to RM6k.....for those paying tax bracket the return is much much better than the interest rate..

A question on tax, as of 30 April, SSPN balance 6k and reported 6k in tax filing. Can we withdraw on 2 May and then next year deposit again 6k on 29 April before tax filing? Any stipulated period that SSPN amount has to be kept? Of course getting 4.25% is a good rate if a person decided not to withdraw it...

Ocbc Ti RM50 rebate per month.....5% rebate for telco, utilities, assessment bill, petrol, certain dinning with qualified merchant code...




https://forum.lowyat.net/topic/2703542/+1740

This post has been edited by gsc: Aug 13 2013, 12:55 AM

Tq...which mean the latest deposit is 31 dec 2013 then only entitle to 2013 tax relief..

http://fyi-penang.blogspot.com/2013/01/ssp...-div-rates.html