I thought you said invest in biz, making money money money ? How come June pulak ? Then the 90%  balance rm2 million+ where you park ?

Month 1 FD 20k, SS 10k

Month 2 FD 20 k, SS 10k + 1k (to get 2.9%)
New FD 40k deposited, SS (10k + 1k) + 20k (together with new FD)

Month 3 FD (20k+40k),  SS (10k + 1k + 20k + 1k [to get 2.9%]

Month 4,
earlier deposited FD mature can be withdrawn BUT the SS if withdrawn will affect the new SS (20k), 0.5% interest only

This means your early SS fund  (RM10k) is geting 2.9% interest the most, in month 4 month 5 month 6 till the the second FD (RM40k) is mature....

Rough estimate interest earned on the first SS is 3.48% if continued for month 4, 5, 6...and 3.32% if continue for the month 7, 8, 9.....that is why the forum members are thinking to withdraw the SS so that can earn higher interest like 3.85% in Hong Leong junior FD

Because when you want to renew for the second time, you can only withdraw the FD 4.5% account and not the SS 2.9% account. Then from the FD withdrawn amount, you need to allocate 1/3 to SS again. Thus the balance in 4.5% account is reducing and one the other hand the balance in 2.9% is increasing. The average effective rate should be 3.5x% if the additional monthly rm1000 deposit is taken into account.

Ohhh...wahhh...really calculate to the dot. Don't know how would I ever be able to see things beyond the simple calculation
Thanks a lot for this and your patience!

Then I guess to make it more straightforward for people like me, best if I just put in a big sum for this promotion to get the max out of it without thinking about the 2nd or 3rd round + the further complication of SS account. I mean, easier if I just deposit let's say 150k (100k FD + 50K SS) rather than put in 75k today and 75k next week.

Anyone knows what will happen to the SS account if we close or left it idle after this and maybe 1 year later if there's any other different promo that ties in to SS, will there be any impact?

15 apr withdraw everything and close SS. 20 Apr open new combo and new SS. you will get 0.5 % interest on SS but you can "recycle" your SS fund or

Transfer FD into SS on 15 april, close and withdraw SS on 30 April. 20 Apr transfer matured FD into SS. 1 May open new FD combo and SS. In April you will get full 2.9%

Calculate and compare interest lost and gain as you know only the principal amount.

Thanks for the suggestion. I've a question on the bold font. If I open new FD on 1 May, the SS needs to be a new one or else I still need to keep the full amount that I've from April because otherwise I will only get 0.5% rate for SS in May. Correct?

I mentioned withdraw and close SS on 30 April....1 May new Bonus Saver and therefore new SS

1st of May is a Public Holiday lah

Haha didnt notice when replying the post....alternatively he can open new account in another Ocbc branch with his personal cheque on 30 April

Im looking for Foreign Currency Fixed Deposit, any can give suggestion where to do?

I mentioned withdraw and close SS on 30 April....1 May new Bonus Saver and therefore new SS

SS provides up to 2.9% interest which is good if a person needs some liquid cash in one or two months time but do not want to have FD. Just Deposit RM50 can at least get the interest rate of 2.5% which is pretty good compare to other saving account..

Most banks provides......public bank interest rate is better than that of Citi.....Ocbc earlier provides additional 5% promote...a couple of months back I asked still available, not sure now...only Aus$ FD interest rate is better off than local currency...

I see less discussion on this thread lately. Is it cuz all money dah deposit into FD?
Anyway, just to share, I've FD-ed my money with OCBC's deal for now. I guess that means not much into looking at others at the time being, and not many new promos of late as far as I can see.

Btw, those who wants straightforward deposit can consider UOB since it's at 3.5% with no CASA.

No MACH branch in your town ? 4% 12 months deposit straight forward online FD is better than OCBC Bonus saver with so many traps.

None...kat Penang, as far as I know, takda Anyone knows if they're gonna setup one soon?
I also wanna have that 4% (although lock-in period is longer...) cuz it seems straightforward and interest is high.

The penang HL staff not even know Mach exist when I asked them

Wow...that's just silly.