Yah many variables in play... late last year I mentioned I will take the gamble and wait till AUD drops below 3.1 before I convert more to AUD to pay my daughter's tuition fee in Feb. But it went up continuously instead until just before RBA meeting early this month. But the bright side is my daughter and son tuition fees are due again next month so average out I can get below 3.1, hahaha

Standard disclaimer for most investment instruments that are not guaranteed - Past Performance Does Not Guarantee Nor Reflects Investment Returns

5% for 1 month can hardly cover the exchange loss and commission

Anyway we should stop discussing on Foreign FDs as there is a specific thread for it.

This post has been edited by Gen-X: May 23 2013, 11:58 PM

check out aeiou's thread https://forum.lowyat.net/index.php?showtopic=1836833&hl=

Also go to FD V2 Thread and do a search on "Foreign FD" where we had the same discussion on Foreign FD and read cherroy's comments.

This post has been edited by Gen-X: May 24 2013, 04:32 PM

AVFAN, just to add, gone are the days where we can get above 4% interest for AUD FD with our local banks. Nowadays, the interest rate for AUD FD offered by commercial banks are even lower compared to that for RM FD board rates. E.g. 12 months AUD FD is now in the range of 2.5% to 2.7% versus RM FD board rates in the range of 3.1% to 3.6% (if you can consider BR a bank, it's above 4%).

However, in Australia, the banks are still offering above 4% for internet savings account with bonus interest e.g. NAB 4.25% (promotional rate for 1st four months) and ANZ 4.41%. Those of you who wants to continuously enjoying the NAB promo rate, there's a simple way to go about it by simply opening new accounts online

This post has been edited by Gen-X: May 27 2013, 03:09 PM

Oh Bro, CIMB and RHB do offer higher rates than OCBC or UOB for their Foreign Currency FD (AUD). Reason being CIMB and RHB Exchange Rate is also higher, i.e. about 1.5% above spot rate as compared to UOB/OCBC close to 1%. Just go check online the Exchange Rates for today and you shall see the difference. And most banks can offer you slightly lower rates if you purchase above a certain amount.

This post has been edited by Gen-X: May 27 2013, 04:50 PM

Like I mentioned earlier only god knows... too many infinite variables at play. Not too long ago it was AUD/USD 0.65!!! Go check it out if you don't believe me.

Only a month ago it was 3.2 and now it's below 3. If you are into technical analysis, you could probably read the trend in the next couple days and take note of what RBA has to say early next month.

It's like FD and the terms and conditions can be easily obtained at BR's website.

It's not protected by PIDM but by your government

Go to FD Thread V2 and V3 and do a search on Bank Rakyat or BR where we had many discussion on it and many of the members here deposit their money with Bank Rakyat and therefore not have to go waste time chasing after FD promotions.

This post has been edited by Gen-X: May 28 2013, 12:09 AM

Hear hear, when cherroy comment take note

But Bro, what is your take on USD against MYR?

why you using that link, go google AUD/USD chart and you have plenty of sites to get detail interactive charts to refer to.

This post has been edited by Gen-X: May 28 2013, 12:03 PM

hahaha, that is why I said go google for interactive charts.

Anyway, my reply was for AVFAN where he posted a quote stating rate was 1.04 and I wanted to point out to him how low the exchange rate can be since he's new to AUD.

Bank Rakyat

Actually OCBC 4.5% 3 months FD is not complicated, place RM33,333 into Smart Savers Account (2.4% interest assuming you don't deposit a sen after the initial deposit) and RM66,667 into FD and you'll get effectively about 3.8% for 3 months (if you deposit early in the month and withdraw the money from the Smart Savers early in the month). But then again if you go with Bank Rakyat you'll get 3.65%, so for 100K we talking about only RM37.50 if you were to go with OCBC vs BR. So I guess since OCBC is far for you, it's not worth the while.

However, if you have a child and willing to consider 2 years tenure AND not interested to deposit with BR, Hong Leong Bank Junior FD Promo is excellent where you earn first year 3.85% and second year 3.95%.

http://www.hlb.com.my/promo/pfs/dep_bill/index.jsp?s=promo

and click here to my FD Page where I have link to my article on Savings Account.

This post has been edited by Gen-X: May 28 2013, 02:04 PM

Once again, be warned, make sure you check the interest paid to you if your PBB FD matures on a Saturday or Sunday because they will not pay you the 1 or 2 days interest (if got a Public holiday that's 3 days interest) unlike most other banks.

Thanks Bro for the update.

And thanks to BoomChaCha for latest FD Promos offered by KFH, OCBC and UOB.

Updated 1st post.

Bro 3 + 3 + 3 = 9 (3 years)

Actually if you compound it, he lost more than 10%!

That's how your capital is guaranteed. Deposit 90% into FD for 3 years and you will get 100%. The 10% they go play and lose everything also no problems, hahaha.

This post has been edited by Gen-X: Jun 4 2013, 07:46 PM

BoomChaCha

if you go open Premier/Privilege Banking with most banks, no need introducer for current account.

Best the banks side by side.... take cash go deposit into the other bank and write a cheque out

This post has been edited by Gen-X: Jun 4 2013, 09:31 PM

See my earlier reply where I gave u an idea and save you RM9

By the way, not all banks offer fee-less current account. UOB current accounts have fees!

I have a HLB (from ex EON) basic current account that does not pay interest and no fees even if I only have RM1 in it.

you worry too much Dress like Ah Long no one will dare touch you, hahaha. or employ me as bodyguard for RM4.50 per visit to the bank, that's 50% discount

Bro, better you not click on "Do Not Combine Post" - you sure to get warning for spamming.

Bro, unlike SCB and HSBC, OCBC no penalty if your AUM falls below the required amount when getting the Premier Banking status. So your OCBC Premier status is for life.

And before you go buy the new freaking cool A or E class or Audi R8, go open Premier Banking with the following banks that also has no Penalty if your AUM falls below the required amount at initial stage; and, remain PB customer for life (unless they change their policy):

RHB (RM200K) - sign up once as Premier Banking customer and apply for their Platinum Credit Card (imperative that you apply with PB form to ensure FREE For Life annual fee) that gives you FREE 4 combined entries to LCCT, KLIA, Senai and Langkawi Plaza Premium Lounge. Or get their Premier Debit Card, same 4 combined FREE entries. Only thing is got to pay RM50 for each card.

then go apply get Alliance Bank Privilege Banking (RM200K) and get their Visa Infinite where you be issued a Priority Pass Membership Card that allows you Free Entries to airport lounge worldwide. Also get their Premium Debit Card that allows you FREE entry to LCCT Plaza Premium Lounge (not sure for KLIA 2).

With 3 cards above, you can bring 2 guest for FREE to enter LCCT Plaza Premium Lounge until they move to KLIA 2

This post has been edited by Gen-X: Jun 4 2013, 10:28 PM

I guess most probably you are right and I am wrong. Anyway, seriously, OCBC Premier Banking is useless. There are so many PB customers where it takes like forever for my turn (unless I go early in the morning and wait for them to start work). Usually I go to the general banking hall - it's faster for my case (UOB and HLB too). And OCBC has no Premium credit card for PB members.

Anyway, the reason most commercial banks have PB is not for people like us here who are only interested in FD BUT to sell the banks' investment products.

The RM assign to us are mostly commission base and they earn more if they can push the banks products. Not to say deposit are not important to our RM (some do have quota too), but the real income for them is selling investment products. So in reality, those of us here who are only into FD sometimes complain that our RM(s) are not providing the service we expect whereas actual fact the RM(s) are sales personnel.

So for people who are into FD, PB status not important, but the interest rate is

This post has been edited by Gen-X: Jun 5 2013, 12:13 AM

When ever I sign up for PB, on the very first day itself I will tell my RM I only interested in FD Promo rates.

Many banks, if not all, in Australia have similar savings account where they offer higher interest rate called Bonus Interest Rate, and combined with the normal rate it can even be higher than Time Deposit rates, but if you make a withdrawal in a particular month, then one does not enjoy the Bonus Interest Rate. So I would say OCBC is copying them and recently UOB with their eSavings Account.

Why embarrassed seeing our RM, you are the customer and you get to ask your RM to make coffee for you, hahaha.

What is embarrassing is when we park our car beside our RM's car, and she's driving the latest 3 series BMW/A Class and we driving a 10 year old junk, hahaha.

And if you at a party and your new gf is hot, your ex would be the one embarrassed

Yes you are right, to add

Fourth Premier Account: Wife as primary and you as secondary.

Fifth and depending on how many 18 and above children you have: Your child as primary and you as secondary.

I have enjoyed the New Premier 5% FD Promos with OCBC using my wife's and mother's name; and. I did mention how to go about getting the 5% using above method sometime back in the previous Thread and in my blog too.

Same method was applied to get the Citibank Gold 5% Saving Account Promo 2 years back where they limit the amount to RM200K.

Yes, you are right. Each person must individually/separately apply for the Premier Status using the account where he/she is the primary.

For RM200K - nothing, zip, zero extra interest over promo. UOB 3.68% for 12 months already pretty good.

For Public Bank Promo please read post#790 onwards.

As for RM200K into OCBC, 3.55% unless you willing to go with hassle of the 4.5% combo (open smart saver account). Anyway too late since you deposited, next time days before it matures or if you want to deposit more, come back and ask.

Bro, maybe I should explain a little about the 4.5% FD Promo where you need to open a Savings Account.

There are various type of savings account offered by OCBC and the one that pays reasonably interest rate MONTHLY is Smart Savers Account if you DO NOT withdraw in a particular month. And if you deposit money into the Smart Savers account monthly, you get more interest. You can combo this Smart Savers Savings Account with the 4.5% FD Promo to earn more "effective" interest compared to other savings account and the straight forward 3 months FD Promo. Click here to my FD Page to read a brief read up on this Combo and also read BoomChaCha example quoted above.

This post has been edited by Gen-X: Jun 7 2013, 11:27 AM