Sorry..the post has been deleted..

Maybe...probably...uncertain...perhaps...possibly

From where I come from, the land mass is quite large & less populated (& developed). Not a problem to find local major banks here, but those foreign-owned banks are only available in major cities

Don't need to delete, just to remind for those may not investment savy people.
As those belonged those structured investment category.

As some newbie may confuse FRIND or any structured investment even though there are capital protected, but they are never a FD.
As stated clearly across, those investment is not PIDM, similar to one invest UT with banks, the different is banks structured it become a capital protected only.

It is quite easy to structure a capital protected investment on one onw.
You have 100k and time frame is 3 years.
You put 90K is a AAA rated bond that carrying 3.33% yield. After 3 years, you get back 100K, viola capital protected.

While the rest 10K put in warrant, options, derivatives that may win big, as they carrying leverage power to do so.
So if as planned, the 10k become 20k, the total investment final value is 120K, so equivalent to 6.66% yield investment already.

This is how can a structured investment being crafted out.

RM confirmed today still available till 10 Sept. I dont usually call the help line because they tell what they saw on their website which is not updated or sometimes they just tell whatever come across their minds. This apples to most banks 1-300-xxx.. line...

I always prefer call the bank staffs direct as they are the one hands-on opening and closing account..

Yup, the 13 months 3.70% is still available. Deposited at 6 pm just now.

And you wanted to go with 3.25% Aren't you glad you got people here to make you think twice

This post has been edited by Gen-X: Sep 4 2013, 10:15 PM

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The turning point was when I found out they open shop until 7pm. Rushed from office, reached UOB at 345 pm to uplift (UOB closes at 4pm), then headed over to OCBC. Even got time to chit chat with the banker

If I do the Ambank route, my dad will do the upliftment (pay RM2.15 for banker's cheque) and head over to Ambank for 3.25%.

Haha, yeah this thread is the one that actually prompted me to check OCBC opening hours

Interesting... how come they used the word "Fixed..Deposit" in their product line?

Then I can show you more than 50 victory battles on 1080p high definition videos, but let me try to upload them to Youtube
first..



The last FD I placed with Am Bank was about 2 years ago.



I have never wanted to place FD bundled with a credit/debit card.

Good return rate..

So the bank will call back/cancel the plan when the market situation is favor to investors, or vice versa..?

Thank you so much for pointing this out..

Really ah.. but sometimes if they do not know the answer, they will refer to their supervisor..

Ok anyway..I called OCBC help line this morning, and I double checked again for their FD promo rates,
these 3 FD promo will expire next Tuesday - 10 September 2013.
(1) 3.4% for 1 year (fresh fund not required)
(2) 3.7% for 1 year (fresh fund and joint account required)
(3) 4.5% for 3 months (bundled with CASA - Smart Savers)

This post has been edited by BoomChaCha: Sep 4 2013, 10:43 PM

FRNID = Floating rate Negotiable Instrument Deposit.

Where got "fixed deposit" term?

FRNID is you give certain amount with the bank, (not the same as saving or FD deposit), by then bank use it for specific investment purpose as stated in the structured product.

What is rate offered for housing loan by Citi? The FD rate at Citi is miserable but the service in general is better than that Ocbc.

It depends, but previously I am confident that KLIBOR won't rise, so I took the structured product, that if KLIBOR doesn't surge beyond x%, the structured product give good yield.
But sadly the bank call back the product since it has callable option.

Basically it depends on the clause set, not every product is the same, and vary from each other in term of the clauses.

Some callable due to hitting whatever threshold, some callable due to xyz condition etc.

Actually, there is nothing to shout about capital guaranteed.

A 5 years structured product with capital guaranteed, if situation doesn't favourable, result in 0% return aka capital guaranteed get back, one already lose out 15% opportunity cost already.
3% pa x 5.

I am not familiar with any of these investment products at all.

I would like to listen to somebody who has previous experience with these products.

Very simple, if you say yes, then I will probably go for it.

If you say no, then I will not go for it. And this will save my time no need to study the 5 pages of materials/information,
furthermore I also do not quite understand the technical words, as well as the terms and conditions.

Thanks again....

This post has been edited by BoomChaCha: Sep 4 2013, 11:01 PM

Yes, exactly. By the way, this CIMB one is also Klibor related.

They recalled it and issue a new one at lower rate.

This old man is way pass housing loan for years, luckily

No idea now .......................

Respect you on your knowledge.

I bought the CIMB FRNID being persuaded by the BM.

Banks replaced a lower rate cert..? Banks are very snake....

But so far you are NOT regret lah...you still made some good money loh..

This post has been edited by BoomChaCha: Sep 5 2013, 02:43 AM

Cherroy, I'm not sure what's KLIBOR but my RM did mention that before and wanted me to take that up.
Do you or anyone else have any opinions on this... OCBC has this 5-year term so-called fixed deposit (not PIDM guaranteed, but OCBC guaranteed) and you get like 4.5% calculated daily interest, and you get the interest every 3 months credited to your account. There's also this gap % that they will be paying you for the period over the years to 'make up' for the time.

It sounded okay when briefed on this, but as I'm going to see my RM personally later to learn more, it's good to be able to get your feedbacks on this.
Honestly, I'm still lost as to what it is.

The 3.7% is for 13 not 12 months..