OCBC FRNID - A potential to earn 4.5% p.a. for 5 years term --> This is not FD

1st Page -->

2nd Page -->

3rd Page -->

4th Page -->

5th Page -->

This post has been edited by BoomChaCha: Sep 5 2013, 02:33 AM

Young goat.. I do not need to use stretcher based on my many years experience, I can PK anyone of them
easily..

Did Am Bank have any attractive FD promo during last year? I do not think so la..

House is so expensive now, how to buy..?

You made good money from CIMB's FRNID at 5.2% for 2 to 3 years..no wonder you are so young and rich..

What do you think of OCBC's FRNID?
What was the minimum Ringgit amount for your CIMB FRNID? Now you do not have it anymore?

I think I placed my last FD in Am Bank was about more than 2 years ago..
Am Bank's Top Rate FD Promos were so hot at that time..

This post has been edited by BoomChaCha: Sep 4 2013, 09:42 PM

Yes, must be 5 years term. Otherwise, you will lose money, something like compensation or penalty..

Sorry..the post has been deleted..

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

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

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

Sorry sorry.. yes, it is for 13 months, not 1 year...

May I ask you this question:

From OCBC FRNID, they projected these "Upper Barrier" interest rates:
1st Year: 3.85%
2nd Year: 4.00%
3rd Year: 4.15%
4th Year: 4.30%
5th Year: 4.45%

Based on this interest rate projection from OCBC, does it mean that the interest rate will go up in next 5 years?

Thanks...

This sounds ok lah.. But it was just too bad CIMB did not allow you to continue
the first plan which brought you more profit. In overall, you made good money,
congratulations to you.

From OCBC FRNID, they projected these "Upper Barrier" interest rates:
1st Year: 3.85%
2nd Year: 4.00%
3rd Year: 4.15%
4th Year: 4.30%
5th Year: 4.45%

Because the RM just briefed me on the phone, so I can only roughly share this with you, it works something like this:
If the interest rate hits higher than 3.85% during the first year (2013), then investors will not earn any interest,
and if the interest maintains below 3.85% during the first year (2013), then investors will earn 4.5% p.a. interest,
and the same apply to the following from 2nd to fifth year.

So I guess your CIMB FRNID worked in this same way.

Ha..ha.. if the banker can tell us the truth, then they cannot sell their products..
I never trust the OCBC RM, every investment he says is just good good and good...

This is quite true, never invest in anything that we do not know about it..
Furthermore, this commitment will make us worry for 5 years, 1825 nights cannot sleep well..

All right.. .Thanks so much.. cherroy

This post has been edited by BoomChaCha: Sep 5 2013, 02:06 AM

Thank you so much for the professional explanation..

I put back the 5 pages of OCBC FRNID on my Post #2373 on Page #119
Please let me know if you want me to delete them. Thanks again..

Ha ha.. I did ask the RM last time, he said he did not have enough money to invest..

Ha.. ha.. I guess I feel more comfortable to put money in BR rather FRNID (NOTE: FRNID is not FD).

Let's say if we place RM 100K at 3.5% p.a. for 1 year FD, assume if the 3.5% interest rate remains constant for the
next 4 years, the total compounded interest earned for total 5 years is RM 18,768.63.

Year-------- Year Interest------ Total Interest
1----------- $ 3,500.00 ------ $ 3,500.00
2----------- $ 3,622.50 ------ $ 7,122.50
3----------- $ 3,749.29 ------ $ 10,871.79
4----------- $ 3,880.51 ------ $ 14,752.30
5----------- $ 4,016.33 ------ $ 18,768.63

-----------------------------------------------------------------------------

Here let's assume if we put RM 100K in OCBC FRNID at 4.5% p.a. for 5 years, if everything goes smoothly,
the total compounded interest earned for 5 years should not more than RM $ 24,618.19.

Year----- Year Interest-------- Total Interest
1-------- $ 4,500.00 -------- $ 4,500.00
2-------- $ 4,702.50 -------- $ 9,202.50
3-------- $ 4,914.11 -------- $ 14,116.61
4-------- $ 5,135.25 -------- $ 19,251.86
5-------- $ 5,366.33 -------- $ 24,618.19

-----------------------------------------------------------------------------

RM 24,618.19 minus RM 18,768.63 = RM 5849.56 (an optimistic figure)

So the difference is RM 5849.56, but no guarantee will earn this figure...

Is it worth it to invest in OCBC FRNID for 5 years just to make additional RM 5849.56?
I think this depends on individual preference..

I used this site to calculate compound interest:
http://www.thecalculatorsite.com/finance/c...tcalculator.php

OCBC RM called me this afternoon to follow-up if I was interested in this product, he said OCBC has sold more than
RM 20 million of this FRNID..

You can see the 5 pages of OCBC FRNID's terms and conditions on my Post #2373 on Page #119
https://forum.lowyat.net/topic/2722457/+2360

This post has been edited by BoomChaCha: Sep 6 2013, 12:53 AM

I just got MY BR ATM card today.

The BR officer told me the ATM card is only charged for one time fee for RM 8.00,
no more annual fee.

My BR ATM card is printed with Kad COOP...

I guess maybe we have FD there, so we got special offer for one time fee for RM 8.00..?

Thank you so much for the update..

This post has been edited by BoomChaCha: Sep 5 2013, 10:12 PM

Is your BR ATM card printed with Kad COOP?

I think the iRakyat website is quite useful, I can see my saving account amount and FD amount there..
Ha ha.. my Titanic feeling has decreased a lot suddenly..

Thanks for asking me to apply for BR ATM card, and also remind me to use iRakyat site.. You are one of the bests la..
but still I do not need a stretcher...

This post has been edited by BoomChaCha: Sep 5 2013, 10:36 PM

Do you want to invest in this Foreign Currency Time Deposit Deal..?
This promo is still available until next Tuesday..

I am curious what is the difference in between Kad COOP and regular BR ATM card..?

I hope iRakyat online security system is up to date.
And we'd better change our password frequently.
I think there is pro and con to use ATM card and iRakyat online system, provided the online system is 100% secured.

We can use BR ATM machine to transfer fund (from RM 3K to RM 5K per day) to other banks on the same day, but it will charge RM 1.

Wah..hah.. check interest coming every 2 weeks.. Really Steady...

This is true, Kad COOP does not charge annual fee, but just need to pay one time application fee for RM 8.00.
Check out this link please:
http://www.bankrakyat.com.my/web/guest/kadcoop

Hua....Just noticed you also cc to 5 more BR staffs on your email...

This post has been edited by BoomChaCha: Sep 6 2013, 12:22 AM

Ha ha, well done on your $AUD trading..
Yes, I knew you just ended your foreign currency FD.
I was thinking to seek for your professional opinion about this foreign currency FD.
But never mind, I just placed my 3 months 4.5% FD with Smart Savers this afternoon.
Thanks

Yes, I noticed their online system sometimes cannot work..

I always write down the new password on a note book, like student exercise book.

No, no surprised at all, everything is getting more expensive. Except your buy one free one offer..

When I was in OCBC this afternoon, an OCBC customer service trainee in lobby pissed me off when he insisted to sell me Builder saving plan that I had no free time for it.

Here is the brief conversation between me and him:

Trainee: Oh..why don't you put money in our saving account that can give your more profits and convenience?

Me: Builder saving account? I knew about it. But I am in a hurry, can you help me to proceed my things first?

Trainee: Let me explain this to you first before you place your new FD

Me: How long do you need to take to explain this?

Trainee: about 20 minutes

Me: hah..I cannot wait that long..

Trainee: Anyway it will take the same 20 minutes for us to prepare the check for you.

Me: If like this, then I go to premier room

Trainee: ok ...

Then inside the premier room, while my FD was in the middle of processing, one male RM and three young female staffs tried to persuade me quite nicely (including some light flirting..) to buy their FRNID. .under this nice and harmony moment coupled with the romantic soft yellow lighting atmosphere in the premier room.. I suddenly had this imagination.. I felt I was in a massage palace and these three young female massage for me..of course..this imagination excluded the male RM.. I quite enjoyed this moment and I had a good time there even I did not buy the FRNID..